Aviation Gas Turbine Market: Introduction

  • Aviation gas turbine refers to a gas turbine that works on the principle of the Brayton cycle
  • The first generation gas turbine engines were turbojets, which sucked air from the front, and exhausted it at a high speed from the rear end. This provided a forward thrust to the aircraft.
  • Turbofan is another gas turbine engine, where some amount of air is exhausted without going through the core, thus producing additional thrust. These are also called ‘bypass jets’ and are more efficient than turbojets.
  • Aviation gas turbines are used in civil and military applications

Key Drivers of Aviation Gas Turbine Market

  • Rise in global trade and increase in per capita disposable income have led to growth in air travel across the globe. Demand for aircraft has been increasing due to the rise in preference for air travel. There were more than 24,000 active aircraft across the globe in 2017.
  • According to the International Civil Aviation Organization (ICAO), around 3.97 billion passengers flew on scheduled flights around the world in 2017. According to the International Air Transport Association (IATA), the number of passengers indicated growth of 8.8% in 2017 compared to that in 2016, as measured by revenue passenger kilometers (RPKs). These factors are driving the demand for aviation gas turbines.
  • Several companies are conducting research and development activities in order to provide highly advanced aviation gas turbines. This is also projected to propel the aviation gas turbine market.
  • Increase in military budgets of several countries across the globe in order to advance their air forces is fuelling the growth of the aviation industry. This, in turn, is projected to augment the global aviation gas turbine market.

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Commercial Aircraft Application Segment to Offer Lucrative Opportunities

  • The global aviation gas turbine market can be segmented based on type, application, and region
  • In terms of type, the market can be divided into turbojet, turbofan, turboprop, and others. The turbofan segment is anticipated to expand at a rapid pace during the forecast period.
  • In terms of application, the market can be classified into commercial aircraft, defense aircraft, business aircraft, and others. The commercial aircraft segment dominated the aviation gas turbine market in 2018. The segment is anticipated to expand at a rapid pace during the forecast period. Increase in number of air passengers, rise in tourism, and economic development are driving the demand commercial aircraft. This, in turn, is boosting the aviation gas turbine market.

North America to Hold Major Share of Global Aviation Gas Turbine Market

  • Based on region, the global aviation gas turbine market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • North America dominated the global aviation gas turbine market in 2018. The market in the region is expected to expand at a prominent CAGR during the forecast period. This can be ascribed to the strengthening passenger air traffic in North America. Furthermore, positive outlook of the defense aviation industry in the region is expected to supplement the growth of the aviation gas turbine market.
  • Asia Pacific is anticipated to dominate the global aviation gas turbine market during the forecast period. The market in the region is projected to expand at a considerable pace during the forecast period. The number of air passengers has increased in Asia Pacific due to the rise in industrialization & urbanization and increase in disposable income of individuals in emerging economies in the region. This is driving the aviation gas turbine market in Asia Pacific. China, Japan, India, Thailand, and Indonesia are key countries of the aviation gas turbine market in the region.
  • In terms of revenue, Europe and Latin America is expected to contribute significantly to the aviation gas turbine market during the forecast period

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Key Players in Aviation Gas Turbine Market

The global aviation gas turbine market is highly concentrated with the top manufacturers accounting for approximately 40% to 45% share. Prominent players operating in the global aviation gas turbine market are:

  • General Electric Aviation
  • CFM International
  • Pratt & Whitney Division
  • Rolls-Royce
  • Avio Aero
  • Engine Alliance
  • International Aero Engines
  • MTU Aero Engines
  • NPO Saturn

Key Developments

  • In June 2019, Rolls-Royce a manufacturer of aero, marine, and industrial gas turbines for civil and military aircraft, announced the acquisition of Siemens AG' eAircraft Business. The purchase of Siemens AG's electric and hybrid-electric aerospace propulsion business marks the firm's definite step further into making greener engines.

Global Aviation Gas Turbine Market: Research Scope

Global Aviation Gas Turbine Market, by Type

  • Turbojet
  • Turbofan
  • Turboprop
  • Others 

Global Aviation Gas Turbine Market, by Application

  • Commercial Aircraft
  • Defense Aircraft
  • Business Aircraft
  • Others 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Aviation Gas Turbine Market

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