Aircraft Micro Turbine Engines Market is expected to grow from USD 2.8 billion in 2021 to USD 4.5 billion by 2030, at a CAGR of 5.5%. The demand for microturbine engines is driven by the operational benefits they offer, such as low operating and maintenance costs and the introduction of hybrid architecture in aircraft. However, the emergence of hybrid electric power generation technology and the development of distributed power generation systems are expected to create new growth opportunities for microturbine engine manufacturers in the future.
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The key players in the aircraft micro turbine engines market are Raytheon Technologies Corporation, Honeywell International Inc., Kratos Defense & Security Solutions Inc., Safran SA, and UAV Turbines Inc. These players are focused on product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the market.
Raytheon Technologies Corporation is a leading provider of products for defense, civil government, and cybersecurity applications. Pratt & Whitney, a subsidiary of Raytheon, is an industry leader in designing, manufacturing, and maintaining Auxiliary Power Units (APUs) and gas turbine engines for turboprop, turbofan, and turboshaft aircraft.
Honeywell International Inc. is an established player in technology and manufacturing, offering safety, energy, and security solutions. Its aerospace segment supplies aircraft engines, integrated avionics, APUs, and propulsion engines for aircraft.
Kratos Defense & Security Solutions, Inc. is a government contractor focused on designing, developing, and producing small yet high-performance and affordable jet engines for cruise missiles and Unmanned Aerial Vehicles (UAVs).
Safran SA is a leading technology group that provides electrical and power systems for civil and military aircraft, including power generation systems, load management systems, and system integration.
UAV Turbines Inc. is a pioneer in microturbine technology, offering lightweight, reliable, and fuel-efficient microturbine engines for small to medium-sized UAVs. The Monarch RP family of propulsion systems introduced by UAV Turbines offers a quieter flight and increased flight time while running on less-volatile heavy fuels and providing abundant onboard electrical power.
Overall, the aircraft microturbine engine market is set to experience significant growth in the coming years, with the key players continuously innovating to offer better products and services to their customers.
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