Aircraft Micro Turbine Engine Market Scope
Microturbines are tiny combustion turbines with output ranging from 5kW to 500kW, about the size of a refrigerator. By acting as an air-to-air heat exchanger and drawing air into a recoup, microturbines recover heat from the exhaust gas. A small-scale combustion turbine known as an aircraft microturbine engine uses micro combustion to provide cogeneration or the simultaneous use of heat and electricity. It is favored because of its qualities including versatility in fuel use, compact size, and efficiency. Due to their small size, aircraft micro engines fit into relatively small spaces, freeing up space for other design elements. Compared to other technologies for small-scale power generation, microturbine technology may have various benefits, including compact size, lower emissions, and the capability to utilize waste fuels.
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|Key Companies Profiled||AeroDesignWorks GmbH (Germany), Elliott Group (United States), GENERAL ELECTRIC (United States), Honeywell International Inc. (United States), Kratos Defense & Security Solutions, Inc. (United States), MTT bv (Netherlands), PBS Group (North America), Raytheon Technologies Corporation (United States), Uav Turbine Inc. (United States) and Hawk turbine (Sweden)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality to cater to the ever-growing demand for aircraft microturbine engines. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Aircraft Micro Turbine Engine market throughout the predicted period.
AeroDesignWorks GmbH (Germany), Elliott Group (United States), GENERAL ELECTRIC (United States), Honeywell International Inc. (United States), Kratos Defense & Security Solutions, Inc. (United States), MTT bv (Netherlands), PBS Group (North America), Raytheon Technologies Corporation (United States), Uav Turbine Inc. (United States) and Hawk turbine (Sweden) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Stuttgart Engineering Propulsion Technologies (Germany), Rolls-Royce plc (United Kingdom), AMT Netherlands B.V. (Netherlands) and Williams International (United States).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Aircraft Micro Turbine Engine market by Type , by Application (Civil Aviation, Urban Air Mobility, Unmanned Aircraft and Military Aviation) and Region with country level break-up.
On the basis of geography, the market of Aircraft Micro Turbine Engine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn May 2022, Kratos Acquires Southern Research Engineering Division. Southern Research’s Engineering Division (SRE) is the market leader in assisting customers in the development, modeling, and deployment of advanced materials for extreme environments, including hypersonic, space, missile, and missile defense, strategic deterrence, propulsion systems, and energy applications.
In June 2022, Rolls-Royce has announced the development of turbo generator technology, which includes a new small engine designed for hybrid-electric applications.
Influencing Trend:Increase in technological advancements in aircraft micro turbine engines
Market Growth Drivers:Reducing aircraft emissions and maintaining on-flight power-generating capacity
Challenges:Manufacturing difficulties and low demand for aircraft Microturbines
Restraints:High costs of microturbine engines
Opportunities:Increasing applications of micro turbines for UAVs and small aircraft
Key Target AudienceLarge, medium-sized, and small enterprises, Venture capitalists, Value-Added Resellers (VARs), Third-party knowledge providers, Investors and Others