Aircraft Micro Turbine Engines Market is Forecasted to Reach US$ 4.5 Billion in 2030, Says Stratview Research

The global aircraft micro turbine engines market is projected to witness a growth rate of 5.7% annually from 2024 to 2030, with an anticipated size of US$ 4.5 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft micro turbine engines market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2030: US$ 4.5 billion
Growth (CAGR): 5.7% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft Micro Turbine Engines Market:

The global Aircraft Micro Turbine Engines market is segmented based on Installation type, End-Use type, Platform type, Engine type, Fuel type, and Region.

Based on engine type - The market is segmented into Turbojet, Turboshaft, and Turboprop. Turbojet is expected to dominate among the key segments. Turbojet engines are common in Unmanned Aerial Vehicles (UAVs) especially for armed forces because of the high thrust/speed ratios in small size. Turbojets are widely used in reconnaissance, surveillance, combat drones, etc., where structural size, performance, efficiency, and volume matter most. Ongoing advancements in the micro turbojet engine reliability and fuel consumption have further strengthened its hold in the market.

Based on platform type - The market is segmented into General Aviation, Commercial Aviation, Military Aviation, and Advanced Air Mobility. Military Aviation is expected to dominate among the key segments. The growth in the number of UAVs and drones required for military purposes as surveillance or reconnaissance vehicles or engagement in combat missions has led to the widespread of microturbine engines. This is especially the case with consumer military aviation for whom high defense budgets provide funds for new technologies such as better propulsion systems for UAVs and other aircraft. Micro-turbine engines can effectively suit military drones because they have a small size, high fuel-to-weight ratio, and flexibility to burn a variety of fuels.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The North American region is expected to dominate the market in the forecasted period. Based on the UAV and drones extensively used in military operations across the globe, especially in North America the microturbine engines market or used extensively in the United States has a high demand. The defense budget of the region enables the procurement of these and other innovative technologies such as microturbine engines. The North American region is extremely advanced in aerospace technology and research, crucial players in the aeronautics industry, and universities are pressuring high-end microturbine engines. Currently, there is substantial manufacturing capacity for aviation and defense purposes in the region due to the availability of jet fuel and microturbine engine technologies, which have been integrated into the area substantially.

Aircraft Micro Turbine Engines Market Drivers:
Some of the key drivers listed in the report are given below.
• Rising Demand for UAVs - Increased use of unmanned aerial vehicles (UAVs) in defense and commercial sectors drives engine demand.
• Shift Toward Lightweight Engines - Growing need for lightweight and compact propulsion systems fuels micro turbine adoption.
• Electrification of Aviation - Hybrid-electric aircraft trends are accelerating the integration of micro turbines for auxiliary power.
• Growing Defense Budgets - Increased military spending supports the procurement of advanced surveillance and tactical UAVs.
• Technological Advancements - Innovations in fuel efficiency and materials enhance the performance of micro turbine engines.

Top Companies in the Aircraft Micro Turbine Engines Market:
Stratview Research has identified the following companies as the top market players.
• Raytheon Technologies Corporation
• Honeywell International Inc.
• Kratos Defense & Security Solutions Inc.
• Safran SA
• UAV Turbines Inc.
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Aircraft Micro Turbine Engines Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.