Aircraft Micro Turbine Engine Market by Type (Turbojet MTE and Turboshaft MTE), Platform (Urban Air Mobility, Ultra-Light Aircraft, Military Trainer Aircraft, Military Unmanned Aerial Vehicles), Horsepower (5-50 HP, 50-100 HP, and 100-200 HP), Fuel Type (Kerosene, Jet A, Biofuel, and Synthetic Fuel): Global Market Size Estimates and Forecast (2019–2030)

Code: BMIRE00025792 | Pages: 100 | Industry: Aerospace and Defense | Date: Sep 2022 | Type: Global

The market crossed US$ 2.55 billion in 2022 and is expected to hit US$ 4.08 billion by 2030, recording a CAGR of 6.1% during the forecast period.

The Increasing Military Procurement of UAVs and Trainer Aircraft has been Significantly Boosting the Market Growth.

The growing military expenditure is one of the major factors augmenting the adoption of military UAVs and trainer aircraft procurement. Majority of the countries are spending significant portion of their military expenditure in the procurement of UAVs and trainer aircrafts. This is further augmenting the demand for new micro turbine engines that are used to power the UAVs and military trainer aircraft models and catalyzing the market growth globally. For instance, in January 2021, the Indian army signed a contract worth US$ 20 million with ideaForge to procure Switch UAVs for its surveillance operations. Similarly, in September 2021, the Indian armed forces signed multiple contracts worth over US$ 62.5 million to procure loitering munitions or kamikaze drones and swarm drone systems along with kill and surveillance capabilities.

Within the report, the market is segmented into type, platform, horsepower, fuel type, and geography. By type, the market is further bifurcated into turbojet MTE and turboshaft MTE. On the basis of platform, the market is segmented into urban air mobility, ultra-light aircraft, military trainer aircraft, and military unmanned aerial vehicles. By horsepower, the market is segmented into 5-50 HP, 50-100 HP, and 100-200 HP. Based on fuel type, the market is segmented on kerosene, jet A, biofuel, and synthetic fuel. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Ultralight Aircraft Deliveries to Provide Future Opportunities for Market Vendors during the Forecast Period. 

The rise in number of ultralight aircraft production is generating the demand for micro turbine engines for aircraft applications across the line fit segment. For instance, in 2019 there were around 3,739 light and ultralight aircraft registered in the US alone, which further reached to a volume of around 4,156 units of aircraft registrations in 2021 in a single year. Furthermore, the demand for ultralight aircraft for commercial applications such as air sports and recreational purposes is another major factor propelling the growth for commercial segment in the ultralight and light aircraft market. Moreover, the demand for ultralight aircraft for different applications such as aerial survey, agricultural mapping, parachuting, and other sir sports activities is also catalyzing the aircraft micro turbine engine market growth.

Growing Demand from Urban Air Mobility Sector is another Major Factor Accelerating the Market Growth.

The increasing demand for eVTOL aircraft for urban air mobility applications is one of the major factors propelling the demand for micro turbine engines market during the forecast period. Moreover, the demand for eVTOL aircraft across the military sector is another major factor supporting the market growth. For instance, in April 2022, Lift Aircraft was awarded a Phase 3 contract under the US Air Force’s agility Prime Program, to continue the experimentation and flight testing for its single seater eVTOL HEXA aircraft. Such developments are likely to generate future opportunities for market vendors during the forecast period.

Similarly, several logistics companies are increasingly investing in the adoption of eVTOL aircraft. For instance, in April 2021, United Parcel Service announced that it had agreed to purchase 10 eVTOL aircraft from Beta Technologies. The company initiated the deal to test the eVTOLs to use in its Express Air delivery network, focusing on small and medium markets. Such developments are catalysing the growth of eVTOL development and thereby driving the micro turbine engine market growth.

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Recent strategic developments in aircraft micro turbine engine market

The aircraft micro turbine engine market has undergone several significant developments, and a few of these have been mentioned below:

The aircraft micro turbine engine market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. AMT Netherlands B.V., BF-Turbines, Hawk Turbine AB, Jet turbine Co. Ltd., JetsMunt SL, Lambert Microturbine, PBS Group, Sentient Blue Technologies, Stuttgart Engineering Propulsion Technologies, and UAV Turbines Inc. are among the prominent players operating in the market.

Target audience for the report:

  • Component providers
  • Ultralight aircraft engine manufacturers
  • Military drone engine manufacturers
  • Engine component manufacturers
  • eVTOL propulsion systems manufacturers
  • Ultralight aircraft engine manufacturers
  • Aircraft engine manufacturers
  • Commercial and Military aviation related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Turbojet MTE
    • Turboshaft MTE
  • Platform
    • Urban Air Mobility
    • Ultra-Light Aircraft
    • Military Trainer Aircraft
    • Military Unmanned Aerial Vehicles (UAV)
  • Horsepower
    • 5-50 HP
    • 50-100 HP
    • 100-200 HP
  • Fuel Type
    • Kerosene
    • Jet A
    • Biofuel
    • Synthetic Fuel
  • Region
    • North America
      • US
      • Canada
      • Mexico
    • Europe
    • Asia Pacific (APAC)
    • Middle East & Africa
    • South America
  • Companies profiled
    • AMT Netherlands B.V.
    • UAV Turbines, Inc.
    • PBS Group
    • Jet turbine Co., Ltd.
    • Sentient Blue Technologies
 
  • AMT Netherlands B.V.
  • UAV Turbines, Inc.
  • PBS Group
  • Jet turbine Co., Ltd.
  • Sentient Blue Technologies
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