Press release
Aviation Gas Turbine Market: Booming Demand, Key Trends, Market Size and CAGR of 7.0% (2024-2025 Forecast)
Aviation Gas Turbine Market Share
What Is The Projected Market Size Of The Global Aviation Gas Turbine Market And Its Growth Rate?
The aviation gas turbine market displays significant growth as per the type, propulsion, and application analysis:
• It has been categorized into types such as Turbojet, Turbofan, Turboprop, and Other Types
• The market has been delineated by propulsion via Electric-Based Commercial Aircraft and Special-Fuel Based Commercial Aircraft
• The aviation gas turbine finds applications in Commercial Aircraft, Defense Aircraft, Business Aircraft, and Other Applications
The aviation gas turbine market is forecasted to grow from $11.4 billion in 2024 to $12.2 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%.
What Is Driving The Growth In The Aviation Gas Turbine Market?
The surging global air travel trends are fanning the flames of growth in the aviation gas turbine market. An upswing in air travel demand, aided by evolving geopolitical scenarios, changing regulatory structures, and dynamic airline industry trends, is propelling this growth. A trend toward green aviation and demands for fuel-efficient planes, coupled with technological advancements in aviation gas turbines, is also fuelling market expansion.
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Who Are the Key Players Driving Aviation Gas Turbine Market Growth?
The growth of the aviation gas turbine market owes its momentum to the consistent rise in military expenditure across the globe. This trend allows for:
• The acquisition of state-of-the-art aircraft equipped with advanced gas turbine engines
• Driven research and development efforts
• Improvement of strategic mobility
• Rapid deployment of military forces
• Maintenance of air superiority
• Support for the aerospace industry and national security
For example, a 3.7% increase in global military expenditure (totaling $2240 billion) was recorded in 2022 according to SIPRI, highlighting the role of military spending in driving aviation gas turbine market growth.
What Are The Key Trends In The Aviation Gas Turbine Market?
Significant trends in the aviation gas turbine market include:
• Strong market growth, from $11.4 billion in 2024 to $12.2 billion in 2025 at a CAGR of 7.0%
• Rise in air travel demand
• Regulatory changes
• Geopolitical factors
• Dynamic airline industry
• Supply chain and manufacturing trends
What Are The Segments Of The Global Aviation Gas Turbine Market?
The aviation gas turbine market spans various types and application areas such as:
• Turbojet, Turbofan, Turboprop, and Other Types
• Electric-Based Commercial Aircraft and Special Fuel-Based Commercial Aircraft
• Aviation Applications in Commercial Aircraft, Defense Aircraft, Business Aircraft, and Other Applications
Which Region Leads The Aviation Gas Turbine Market?
South Korea, in particular the Doosan Corp, exercises notable dominance and influence in the aviation gas turbine market. Doosan Corp, in its partnership with the Agency for Defense Development (ADD), seeks to expand its portfolio by incorporating ADD's expertise in aviation gas turbines, thereby promoting the growth in the market.
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What Is Covered In The Aviation Gas Turbine Market Global Market Report?
- Market Size Analysis: Analyze the Aviation Gas Turbine Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aviation Gas Turbine Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aviation Gas Turbine Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aviation Gas Turbine Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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