Global Aviation Gas Turbine Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company’s Aviation Gas Turbine Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, September 30, 2024 /EINPresswire.com/ -- The aviation gas turbine market has experienced robust growth in recent years, expanding from $10.82 billion in 2023 to $11.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to increasing air travel demand, regulatory changes, geopolitical factors, airline industry dynamics, supply chain and manufacturing trends.

What Is The Estimated Market Size Of The Global Aviation Gas Turbine Market And Its Annual Growth Rate?
The aviation gas turbine market is projected to continue its strong growth, reaching $14.99 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to green aviation initiatives, electrification trends, emerging markets and regional growth, cybersecurity concerns, materials innovation.

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Growth Driver Of The Aviation Gas Turbine Market
The increasing numbers of global travelers are expected to propel the growth of the aviation gas turbine market. Global travelers refer to someone who frequently travels abroad or moved from one location to another location. Gas turbines operate on compression, combustion, and expansion principles. The air's pressure and temperature rise as the air's velocity decreases. This principle maintains power to weight ratio, thus providing more comfort during the flight.

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Which Market Players Are Steering the Aviation Gas Turbine Market Growth?
Key players in the 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, GE Aviation Company.

What Are the Dominant Trends in Aviation Gas Turbine Market Overview?
Major companies operating in the market are focusing on developing innovative products such as small turbofan engine to drive revenues in their market. Small turbofan engines are lightweight, compact turbine engines that have been employed in a variety of applications, such as unmanned aerial vehicles (UAVs), aircraft, and cruise missiles.

How Is The Global Aviation Gas Turbine Market 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

Geographical Insights: North America Leading The Aviation Gas Turbine Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Aviation Gas Turbine Market Definition
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 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global aviation gas turbine market report covering trends, opportunities, strategies, and more
The Aviation Gas Turbine Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on aviation gas turbine market size, aviation gas turbine market drivers and trends, aviation gas turbine market major players and aviation gas turbine market growth across geographies. This market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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