Press release
Prominent Aviation Gas Turbine Market Trend for 2025: Major Aviation Companies Drive Innovation With Single-Engine Turboprops For Enhanced Fuel Efficiency and Performance
Aviation Gas Turbine Market Size
The aviation gas turbine market's growth is anticipated to be boosted by the rising volume of global travellers. A global traveller is an individual who often travels internationally or transfers from one place to another. The functioning of gas turbines is based on the principles of compression, combustion, and expansion. As the speed of the air drops, the air's pressure and temperature rise, maintaining the power to weight ratio and ensuring a more comfortable flight. For example, in 2022, the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australian organization that provides economic research, analysis, and statistics, reported that total passenger movements jumped from 1.23 million in November 2021 to 16.68 million in November 2022. Thus, the burgeoning numbers of global travellers are a major factor propelling the advancement of the aviation gas turbine market.
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What growth opportunities are expected to drive the aviation gas turbine market's CAGR through 2034?
Over the past few years, there has been a notable escalation in the aviation gas turbine market. It is projected to surge from $11.4 billion in 2024 to $12.2 billion in 2025, marking a compound annual growth rate (CAGR) of 7.0%. Factors driving growth during the historical period include an increase in demand for air travel, regulatory shifts, geopolitical elements, variations in the airline industry, along with supply chain and manufacturing trends.
Over the coming years, the aviation gas turbine market is projected to witness significant expansion. The market is predicted to grow to $15.64 billion in 2029, with a compound annual growth rate (CAGR) of 6.4%. The expected surge during the forecast period could be due to the green aviation campaigns, changing electric patterns, the emergence of new markets and regional development, and concerns about cybersecurity and material innovation. The forecast period will likely be characterized by heightened demand for fuel efficiency, sophisticated materials and technologies, increasing emphasis on maintenance, repair and overhaul (MRO) services, the adoption of digital technologies, a shift towards sustainable aviation, and a growing urban air mobility (UAM) industry.
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What are the emerging trends shaping the future of the aviation gas turbine market?
The primary players in the aviation gas turbine market are concentrating on the production of single-engine turboprops to augment fuel efficiency, minimize operating expenses and boost performance in short-haul trips servicing both the commercial and private sectors of aviation. The single-engine turboprop is a type of aircraft equipped with a singular turboprop engine that boasts characteristics of both jet and propeller-driven machines. To illustrate, in February 2024, Piper Aircraft Inc., an American manufacturing company, launched the M700 Fury, a single-engine turboprop. This aircraft holds the record for the fastest single-engine plane in Piper's history with a maximum cruising speed of 301 knots. It also has an impressive ascent rate of 2,048 feet per minute, surpassing the M600's speed by approximately 30%. The M700 Fury also introduces six fresh interior designs, offering a variety of color schemes and high-quality materials to choose from, enhancing overall comfort and appearance.
Which growth-oriented segments of the aviation gas turbine market are leading the industry's development?
The aviation gas turbine market covered in this report is segmented -
1) By Type: Turbojet, Turbofan, Turboprop, Other Types
2) By Propulsion: Electric Based Commercial Aircraft, Special Fuel Based Commercial Aircraft
3) By Application: Commercial Aircraft, Defense Aircraft, Business Aircraft, Other Applications
Subsegments:
1) By Turbojet: Single-Stream Turbojets, Twin-Stream Turbojets
2) By Turbofan: Low-Bypass Turbofans, High-Bypass Turbofans
3) By Turboprop: Regional Turboprop Engines, Military Turboprop Engines
4) By Other Types: Turboshaft Engines, Direct-Fan Engines, Hybrid Engines
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What regions are leading the charge in the aviation gas turbine market?
North America was the largest region in the aviation gas turbine market in 2024. The regions covered in the aviation gas turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the aviation gas turbine market?
Major companies operating in the aviation gas turbine market include General Electric Company, CFM International Inc., Pratt & Whitney Co. Inc., Rolls-Royce Holdings plc, Avio SpA, Engine Alliance LLC, International Aero Engines AG, MTU Aero Engines AG, United Engine Corporation, Raytheon Technologies Corporation, Williams International Co. LLC, Safran Aircraft Engines, EuroJet Turbo GmbH, Honeywell International Inc., IHI Corporation, Klimov JSC, Kawasaki Heavy Industries Ltd., Safran SA, Solar Turbines Incorporated, Siemens Energy AG, Mitsubishi Heavy Industries Ltd., MAN Energy Solutions SE, MTU Turbomeca Rolls-Royce GmbH, Motor Sich JSC, Chromalloy Gas Turbine LLC, Capstone Turbine Corporation, GKN Aerospace Services Limited
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What Is Covered In The Aviation Gas Turbine Global Market Report?
• Market Size Forecast: Examine the aviation gas turbine market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aviation gas turbine market for a structured understanding.
• Key Players Overview: Analyze major players in the aviation gas turbine market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aviation gas turbine market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aviation gas turbine market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aviation gas turbine market.
• Industry Challenges: Identify potential risks and obstacles affecting the aviation gas turbine market.
• Competitive Landscape: Review strategic developments in the aviation gas turbine market, including expansions, agreements, and new product launches.
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