Early Impacts of COVID-19 on Aircraft Micro Turbine Engines Market - Exclusive Report by MarketsandMarkets™

CHICAGO, April 14, 2020 /PRNewswire/ -- The ongoing COVID-19 pandemic—and the worldwide reaction to it - has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Aircraft Micro Turbine Engines Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Aircraft Micro Turbine Engines Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Aircraft Micro Turbine Engines Market.
• The shifting short-term priorities of the top 50 companies' clients and their client's clients

You can request an in-depth analysis detailing the impact of COVID-19 on the Aircraft Micro Turbine Engines Market:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=248924999

According to the recent report  "Aircraft Micro Turbine Engines Market by End-Use, Engine Type, Platform (VTOL, Air Taxi, Cargo Aerial Vehicle, Business Jet, Ultra-Light Aircraft, Military Trainer Aircraft, and Military UAV), Horsepower, Fuel Type, Application, and Region-Global Forecast to 2030", published by MarketsandMarkets™, the Aircraft Micro Turbine Engines Market is estimated to be worth USD 26 million in 2021 and is projected to reach USD 61 million by 2030, at a CAGR of 10.0% from 2021 to 2030. Major OEMs and aircraft manufacturers across the world are focusing on the development of advanced electric power generation systems for aircraft. Manufacturers are investing significantly in research & development to curb emission levels and reduce operating costs. Research activities around the development of aircraft micro turbine engines have increased over the last few years due to the introduction of technologically-advanced aircraft (such as hybrid and fully electric aircraft) and awareness around the various advantages aircraft micro turbine engines offer over traditional engines, such as reduced emissions, enhanced efficiency, lower fuel consumption, and reduced operating costs.

Browse in-depth TOC on "Aircraft Micro Turbine Engines Market"

109 – Tables
37 – Figures 
154 – Pages

Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248924999

The VTOL segment is estimated to grow at the highest rate in the aircraft micro turbine engines market across the forecast period

Based on platform, the VTOL segment is estimated to surge with the highest growth rate throughout the forecast period. The development of VTOL aircraft is aimed at providing quick mobility in urban regions across the world. With a large population dwelling in urban areas, the time spent by a passenger in traffic has increased, resulting in the need for quick mobility services. Companies such as Airbus (France) and Boeing (US) are investing in research and development around electric and hybrid VTOL aircraft. VTOL developers are focusing on a hybrid-electric power generation system to enhance the reach of such aircraft platforms. For instance, Rolls-Royce (US) announced the development of a comprehensive hybrid aerospace turbine engine that is expected to be available for experimental flights after 2021. The development includes a prototype of the APUS i-5 aircraft to demonstrate the commercial applications of hybrid-electric technology. The system could be used across a wide range of transportation platforms, including VTOLs, to enable distributed electric propulsion in aircraft.

The urban air mobility segment is estimated to surge with a prominent growth rate in the aircraft micro turbine engines market throughout the forecast period

Based on application, the urban air mobility segment is estimated to surge with the highest growth rate across the forecast period. Urban air mobility vehicles with hybrid-electric propulsion that can take off from and land on any suitable surface are in the development stage, making this a futuristic market. According to the Vertical Flight Society, the rising number of players focusing on the development of electric or hybrid-electric VTOLs is expected to lead to the production of 42,000 eVTOL aircraft by 2035. The greater the number of electric or hybrid-electric VTOL aircraft being manufactured, the higher will be the demand for micro turbine engines to power these aircraft. Similarly, commercial applications of aerial vehicles, such as air taxis, will further increase the penetration of aircraft micro turbine engines across the forecast period.

Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=248924999

North America is projected to lead the aircraft micro turbine engines market from 2021 to 2030

Based on region, North America is expected to witness the largest share of the global aircraft micro turbine engines market during the forecast period. The US is projected to be the leading contributor to the North American aircraft micro turbine engines market, driven by large investments in the development of electric or hybrid-electric aircraft and the emergence of several startups supporting the evolution of micro turbine engines in the aviation industry. In recent years, aerial vehicle manufacturers in the region have been focusing on the development of aircraft that are cost-effective, energy-efficient, lightweight, and capable of carrying large payloads over long distances.

The aircraft micro turbine engines market has been gaining traction over the past few years due to the presence of several established companies as well as startups. Some of the major players in the aircraft micro turbine engines market include Honeywell International Inc. (US), UAV Turbines, Inc. (US), Kratos Defense & Security Solutions, Inc. (US), Rolls-Royce Holdings plc (US), and Turbotech SAS (France).

Browse Adjacent Markets:  Aerospace and Defence Market Research Reports & Consulting

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com 
Visit Our Web Site: https://www.marketsandmarkets.com

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg