Aircraft Micro Turbine Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 18.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aircraft Micro Turbine Market Analysis
The aircraft microturbine market is expected to grow with a CAGR of more than 18% during the forecast period.
The global aviation sector has witnessed significant challenges due to the COVID-19 pandemic. Factors such as the implementation of strict lockdown measures, supply chain disruptions, and raw material shortages hinder market growth during the pandemic. The sector has strongly recovered post covid with increasing investments and rising demand for drones for various applications.
An aircraft micro turbine is a small-sized combustion turbine that uses micro combustion to offer cogeneration to utilize heat and electricity at the same time. These are compact in size and utilize a variety of fuels with enhanced efficiency. The microturbine consists of one set of turbine blades and a set of compressor blades. Growing applications of micro turbines for unmanned aerial vehicles and small aircraft are the major factor driving the growth of the market.
The technology provides numerous advantages compared to other technologies for small-scale power generation with a lesser number of moving parts, lightweight, higher efficiencies, capability to utilize waste fuels, and lower emissions. The size of a refrigerator in microturbines has outputs of 25 kW to 500 kW. Most microturbines are comprised of a combustor, compressor, turbine, alternator, recuperator, and generator. Thus, the rising use of unmanned aerial vehicles and small aircraft boosts the growth of the market.
Aircraft Micro Turbine Market Trends
This section covers the major market trends shaping the Aircraft Micro Turbine Market according to our research experts:
Turbojet Segment is Projected to Dominate During the Forecast Period
The turbojet segment will dominate the market during the forecast period. The growth is due to its high-speed capabilities. The radial jet engines are used for small aircraft and high-speed drones. An increase in the demand for unmanned aircraft for military applications creates demand for these engines. The micro turbine is used to produce energy in aircraft engines, by controlling the sensors processing energy. Furthermore, rapidly growing air traffic and rising investment in drone development will boost the market growth in the coming years. According to the International Air Transport Association (IATA) report, the overall number of air travelers will reach to reach USD 4 billion by 2024. Also, the introduction of next-generation hybrid architecture in aircraft is driving the growth of the market. Microturbine engines are a hybrid power source for small, unmanned aircraft systems. Increasing focus on reducing aircraft emissions and maintaining in-flight power-generating capacity will drive the aircraft micro turbine market in the coming years.
Europe is Estimated to Hold Highest Market Share During the Forecast Period
Europe held the largest market share in the marine battery market and continue its domination during the forecast period. Growing demand for unmanned aerial vehicles from the military forces and the rising use of smaller aircraft for leisure and tourism propels the market growth across the region. Key original equipment manufacturers in Europe are focusing on developing next-generation solutions for low-carbon emissions and high-power systems. The United Kingdom government permitted more than 130 companies to fly drones in civilian airspace.
Rising demand for drones for commercial as well as military applications drives market growth across the region. According to the SESAR (Single European Sky ATM Research) report, in 2019, there were around 10,000 commercial drones in use in Europe and the number will reach 200,000 by 2025 and 395,000 by 2035. The SESAR is the European air traffic control infrastructure modernization program aimed at developing the new generation air traffic management (ATM) system.
Furthermore, increasing demand for private jets post covid creates demand for new engines. According to the European Business Aviation Association, London reported 37 percent more private flights in July 2022, than in the same period in 2019 while Paris showed a 43 percent increase in private flights from 2019. Overall, in Europe, private traffic rose around 30 percent from pre-pandemic levels to nearly 179,000 flights. Thus, increasing investment in the aviation sector and the rising number of air passengers drive market growth across Europe.
Aircraft Micro Turbine Industry Overview
The aircraft microturbine market is consolidated in nature with the presence of a few players holding the largest shares in the market. Some of the prominent players in the market are Raytheon Technologies Corporation, Honeywell International Inc., Safran SA, Kratos Defense & Security Solutions Inc., UAV Turbine Inc., and others. The increasing focus of these OEMs on the design and development of high-performance components of microturbine engines will drive market growth during the forecast period. For instance, in February 2020, UAV Turbines, a manufacturer of microturbine engines for small-to-medium unmanned aerial vehicles (UAVs) launched the Micro-Turbogenerator System (MTS) 1.0., a new military-grade microturbine generator for UAV applications. It can supply electrical power from 3kW to 40kW. The compact size, fuel flexibility, and portability made the new system suitable for rescue teams and military forces operating in unpredictable environments.
Aircraft Micro Turbine Market Leaders
-
Raytheon Technologies Corporation
-
Safran SA
-
Honeywell International Inc.
-
Kratos Defense & Security Solutions Inc.
-
UAV Turbine Inc.
*Disclaimer: Major Players sorted in no particular order
Aircraft Micro Turbine Market News
In July 2022, Ricardo signed a contract with Pratt & Whitney Canada in which Ricardo aerospace will support Pratt & Whitney Canada in the development of advanced hybrid-electric propulsion technologies for next-generation aircraft. The company is aiming for a 30% improvement in fuel efficiency and a reduction in carbon dioxide emissions, compared to the advanced turboprop engines for regional aircraft.
In July 2022, Fusionflight, a drone manufacturer announced an 8-kW microturbine generator that weighs less than one-tenth of an equivalent petrol generator. The system can run on diesel, or jet fuel, with 5 percent turbo oil mixed in.
Aircraft Micro Turbine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 Engine Type
- 5.1.1 Turboshft
- 5.1.2 Turboprop
- 5.1.3 Turbojet
-
5.2 End User
- 5.2.1 Commercial
- 5.2.2 Military
-
5.3 Distribution Channel
- 5.3.1 OEM
- 5.3.2 Aftermarket
-
5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Russia
- 5.4.2.5 Rest of Europe
- 5.4.3 Asia Pacific
- 5.4.3.1 India
- 5.4.3.2 China
- 5.4.3.3 Japan
- 5.4.3.4 South Korea
- 5.4.3.5 Rest of Asia Pacific
- 5.4.4 Latin America
- 5.4.4.1 Brazil
- 5.4.4.2 Rest of Latin America
- 5.4.5 Middle East and Africa
- 5.4.5.1 United Arab Emirates
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Israel
- 5.4.5.4 South Africa
- 5.4.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
-
6.1 Company Profiles*
- 6.1.1 Raytheon Technologies Corporation
- 6.1.2 Safran SA
- 6.1.3 Honeywell International Inc.
- 6.1.4 Kratos Defense & Security Solutions Inc.
- 6.1.5 UAV Turbine Inc.
- 6.1.6 Elliott Company
- 6.1.7 General Electric
- 6.1.8 Turbotech SAS
- 6.1.9 AeroDesignWorks GmbH
- 6.1.10 PBS Group
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAircraft Micro Turbine Industry Segmentation
Microturbine engines are a hybrid power source for small unmanned aerial vehicles and VTOLs. It is used for stationary energy generation applications. These are the combustion turbine that produces both heat and electricity on a relatively small scale.
The aircraft microturbine market is segmented based on engine type, end-user, distribution channel, and geography. By engine type, the market is segmented into turboshaft, turboprop, and turbojet. By end user, the market is segmented into commercial and military. By distribution channel, the market is classified as OEM and aftermarket. The market sizing and forecasts have been provided in value (USD million).
| Engine Type | Turboshft | |
| Turboprop | ||
| Turbojet | ||
| End User | Commercial | |
| Military | ||
| Distribution Channel | OEM | |
| Aftermarket | ||
| Geography | North America | United States |
| Canada | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Rest of Europe | ||
| Geography | Asia Pacific | India |
| China | ||
| Japan | ||
| South Korea | ||
| Rest of Asia Pacific | ||
| Geography | Latin America | Brazil |
| Rest of Latin America | ||
| Geography | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Israel | ||
| South Africa | ||
| Rest of Middle East and Africa |
Aircraft Micro Turbine Market Research FAQs
What is the current Global Aircraft Micro Turbine Market size?
The Global Aircraft Micro Turbine Market is projected to register a CAGR of greater than 18% during the forecast period (2024-2029)
Who are the key players in Global Aircraft Micro Turbine Market?
Raytheon Technologies Corporation, Safran SA, Honeywell International Inc., Kratos Defense & Security Solutions Inc. and UAV Turbine Inc. are the major companies operating in the Global Aircraft Micro Turbine Market.
Which is the fastest growing region in Global Aircraft Micro Turbine Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Aircraft Micro Turbine Market?
In 2024, the Europe accounts for the largest market share in Global Aircraft Micro Turbine Market.
What years does this Global Aircraft Micro Turbine Market cover?
The report covers the Global Aircraft Micro Turbine Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Aircraft Micro Turbine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aircraft Micro Turbine Engines Industry Report
Statistics for the 2024 Aircraft Micro Turbine Engines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Aircraft Micro Turbine Engines analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
