PUBLISHER: The Business Research Company | PRODUCT CODE: 1662561
PUBLISHER: The Business Research Company | PRODUCT CODE: 1662561
Aviation gas turbines are rotary engines designed to convert the flow of combustion gases into energy, primarily used to power aircraft engines. They play a crucial role in aircraft propulsion by generating energy and enhancing the quality of combustion.
The main categories of aviation gas turbines encompass turbojet, turbofan, turboprop, and other specialized types. Turbojet engines use a turbine-driven compressor to draw in and compress air before mixing it with fuel in a combustion chamber. These engines are utilized in diverse applications including commercial, defense, and business aircraft, both electric-based and using specialized fuels.
The aviation gas turbines market research report is one of a series of new reports from The Business Research Company that provides aviation gas turbines market statistics, including aviation gas turbines industry global market size, regional shares, competitors with an aviation gas turbines market share, detailed aviation gas turbines market segments, market trends, and opportunities, and any further data you may need to thrive in the aviation gas turbines industry. This aviation gas turbines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aviation gas turbine market size has grown strongly in recent years. It will grow from $11.4 billion in 2024 to $12.2 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. 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.
The aviation gas turbine market size is expected to see strong growth in the next few years. It will grow to $15.64 billion in 2029 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to green aviation initiatives, electrification trends, emerging markets and regional growth, cybersecurity concerns, materials innovation. Major trends in the forecast period include increased demand for fuel efficiency, advanced materials and technologies, rising importance of maintenance, repair, and overhaul (MRO) services, integration of digital technologies, shift towards sustainable aviation, growing urban air mobility (UAM) sector.
The growth of the aviation gas turbine market is anticipated to be propelled by the increasing number of global travelers. Global travelers, referring to individuals who frequently travel abroad or move between different locations, contribute to the demand for aviation services. Gas turbines, operating on compression, combustion, and expansion principles, play a crucial role in aviation, ensuring a favorable power-to-weight ratio and enhancing flight comfort. For instance, in 2022, data from the Bureau of Infrastructure and Transport Research Economics (BITRE) revealed a substantial increase in total passenger movements, reaching 16.68 million passengers in November 2022, up from 1.23 million in November 2021. Additionally, statistics from the Bureau of Transport indicated a 119% rise in passengers on US airlines in October 2021. This surge in global travel is a key driver for the aviation gas turbine market.
The growth of the aviation gas turbine market is further expected to be fueled by the rising military expenditure globally. Military expenditure, encompassing financial, material, and human resources allocated for defense and military activities, contributes to the acquisition of advanced aircraft equipped with cutting-edge gas turbine engines. This investment supports research and development, enhances strategic mobility, facilitates rapid deployment of military forces, maintains air superiority, supports the aerospace industry, and contributes to deterrence and national security. In 2022, global military spending reached a record $2,240 billion, increasing by 3.7% in real terms, according to SIPRI (Stockholm International Peace Research Institute). The continuous rise in military budgets, including China's consistent increases over 26 years, is a significant driver for the aviation gas turbine market.
Major companies in the aviation gas turbine market are concentrating on developing single-engine turboprops to improve fuel efficiency, lower operational costs, and enhance performance for short-haul flights, catering to both commercial and private aviation sectors. A single-engine turboprop is an aircraft powered by a single turboprop engine, merging characteristics of both jet and propeller-driven engines. These aircraft are equipped with a Garmin G3000 glass cockpit that features touchscreen interfaces for user control. The G3000 avionics suite, standard on new models, includes the HALO Safety System. In February 2024, Piper Aircraft Inc., a U.S.-based manufacturer, launched the M700 Fury, a single-engine turboprop with a maximum cruise speed of 301 knots, making it the fastest single-engine aircraft in Piper's history. It boasts an impressive climb rate of 2,048 feet per minute, approximately 30% higher than the M600, and offers six new interior schemes for personalization, allowing customers to select from various color palettes and premium materials to enhance comfort and aesthetics.
Major companies in the aviation gas turbine market are strategically focusing on the development of innovative products, particularly small turbofan engines, to drive revenues and meet the evolving needs of the aerospace and defense industries. Small turbofan engines, characterized by their lightweight and compact design, find applications in various platforms, including unmanned aerial vehicles (UAVs), aircraft, and cruise missiles. In November 2023, Kratos Turbine Technologies (KTT), a division of Kratos Defense & Security Solutions Inc., launched a small turbofan engine. This engine, designed in the 600-900-lb.-thrust-class range, offers a lower cost and a shorter lifespan compared to existing options, making it suitable for use in disposable and attritable aircraft. The development of this engine aligns with the growing demand for attritable and disposable aircraft by the U.S. military. Kratos aims to address this demand by creating cost-optimized turbojet engines for attritable UAVs, emphasizing compact, affordable, and high-performance solutions for cruise missiles and UAVs.
In August 2023, Doosan Corp., a South Korea-based company, entered into a partnership with the Agency for Defense Development (ADD) for an undisclosed amount. This collaboration aims to enhance Doosan's portfolio by leveraging the Agency for Defense Development's expertise in aviation gas turbines. The Agency for Defense Development (ADD) is an organization based in South Korea that specializes in providing aviation gas turbines.
Major companies operating in the aviation gas turbine 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
North America was the largest region in the aviation gas turbine market in 2024. The regions covered in the aviation gas turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aviation gas turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The aviation gas turbine consists of sales of compressors, combustion chambers, turbines, and exhaust nozzles. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Aviation Gas Turbine Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aviation gas turbine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aviation gas turbine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aviation gas turbine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.