Aviation Gas Turbine Market Analysis: Major Players, Lucrative Segments And Top Geographies
6 Jun, 2023
The global aviation gas turbine market size is expected to grow from $10.03 billion in 2022 to $10.82 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine have disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global aviation gas turbine market size is expected to reach $14.01 billion in 2027 at a CAGR of 6.7%.
Global Aviation Gas Turbine Market Key Driver
The growing number of global travellers is predicted to drive the expansion of the aviation gas turbine industry. Global travellers are those who frequently travel overseas or migrate from one location to another. Gas turbines work on the principles of compression, combustion, and expansion. As the velocity of the air drops, the pressure and temperature rise. This technique preserves the power-to-weight ratio, offering greater comfort throughout flight.
Get a sample of the global aviation gas turbine market reportGlobal Aviation Gas Turbine Market Segments
The global aviation gas turbine market 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
4) By Geography: The regions covered in the aviation gas turbine market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global aviation gas turbine market.
Major Aviation Gas Turbine Industry Players
GE Aerospace, CFM International, Pratt & Whitney, Rolls-Royce, Avio Aero, Engine Alliance, International Aero Engines AG, MTU Aero Engines AG, UEC NPO Saturn, Raytheon Technologies Corporation, Williams International, Snecma S.A., EuroJet Turbo GmbH, Honeywell International Inc., IHI Corporation, JSC Klimov, Kawasaki Heavy Industries Ltd.
Get the full global aviation gas turbine market reportAviation Gas Turbine Market Overview
An aviation gas turbine refers to a rotary engine that converts the flow of combustion gases into energy. The primary role of aviation gas turbines is to power an aircraft, in addition to providing energy and improving combustion quality.
Aviation Gas Turbine Global Market Report 2023 provides data on the global aviation gas turbine market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aviation gas turbine market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.