Aviation Gas Turbine Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Aviation Gas Turbine by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


Learn More On The Aviation Gas Turbine Market:
https://www.thebusinessresearchcompany.com/report/aviation-gas-turbine-global-market-report

According to The Business Research Company’s Aviation Gas Turbine, The aviation gas turbine market size has grown strongly in recent years. It will grow 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.

The aviation gas turbine market size is expected to see strong growth in the next few years. It will grow to $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. 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 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 the 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. For instance, in 2022, according to the Bureau of Infrastructure and Transport Research Economics (BITRE), an Australia-based economic research, analysis, and statistics providing organization, total passenger movements increased from 1.23 million in November 2021 to 16.68 million passengers in November 2022. Further, in December 2021, according to Bureau Of Transport statistics, Passengers on US airlines increased by 119% in October 2021. Therefore, increasing numbers of global travelers are driving the growth of the aviation gas turbine market.

Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=9921&type=smp

The aviation gas turbine market covered in this report 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

Technological advancements are a key trend gaining popularity in the aviation gas turbine market. Major companies operating in the aviation gas turbine market are involved in developing new and improved advanced technology to sustain their position in the market. For instance, in June 2021, Safran SA, a French-based aircraft equipment company, and GE, a US-based aviation company, announced their partnership to create innovative jet engine technology. The technology demonstrator project is being launched as the aviation industry gears up to compete for the next generation of single-aisle aircraft, including the MAX and A320neo, in the active segment of the market while also dealing with increasing environmental strain.

The aviation gas turbine market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis


Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model