MarketsandMarkets reports early impacts of COVID-19 on aircraft micro turbine engines market

MarketsandMarkets has reported analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Aircraft Micro Turbine Engines Market, the company said.

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.

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