The aircraft micro turbine engines market is segmented by platform (general aviation, commercial aviation, military aviation, and advanced air mobility), end-user (propulsion and auxiliary power), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The adoption of 3D printing systems for engine components is the major aircraft micro turbine engines market trend which will positively influence the market value.
The aircraft micro turbine engines market share will value over USD 1,136.05 million by 2027
It is estimated to expand at a CAGR of 6.7% from 2022 to 2027
The aircraft micro turbine engines market size will witness a YOY growth rate of 6.06% in 2023
Get a peek into the Aircraft Micro Turbine Engines Market Analysis Report 2023-2027. Unlock the Sample Report. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 2581.21 million.
Browse Technavio's 152-page report and in-depth TOC on "Aircraft Micro Turbine Engines Market by platform (general aviation, commercial aviation, military aviation, and advanced air mobility), end-user (propulsion and auxiliary power), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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In the aviation sector, manufacturers are highly dependent on 3D printing to alleviate supply chain constraints, limit warehouse space, and reduce wasted materials from traditional manufacturing processes. Innovative designs hold significant potential to enhance performance and reduce the design and prototyping period of engines.
Since the advent of commercial aviation, airlines have been engrossed in employing operational engines with increased fuel efficiency and reduced overall operational costs. Aircraft OEMs and engine manufacturers are engaging in extensive integration efforts to enhance performance and extend the range of aircraft. These developments have generated a huge demand for such engines.
Some of the major aircraft micro turbine engines market vendors are:
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The high production costs and delays in engine deliveries are the major hindrances for market players
The aircraft microturbine engine market structure is fragmented in nature.
33% of aircraft micro turbine engine market growth will develop from Europe.
The market growth by the general aviation segment will be significant during 2023-2027.