Market Overview:
The global gas turbine engine market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for large aircraft, small gas turbine, and other applications across the globe. In terms of type, the turbojet engine segment is expected to hold a major share of the global gas turbine engine market during the forecast period. This can be attributed to its high efficiency and low fuel consumption as compared to other types of engines.
Product Definition:
A gas turbine engine is a type of internal combustion engine. It uses the heat of burning fuel to create a hot gas, which then powers one or more turbines. The turbines are used to drive an airplane propeller, or to generate electricity.
Turbojet Engine:
Turbojet engines are gas-turbine engines which operate on the principle of jet propulsion. It is a form of gas turbine, which uses exhaust gases to drive a compressor for increasing the flow rate and pressure. The product finds application in various end-use industries such as aerospace & defense, power generation, marine and rail industry among others.
The global turbojet engine market size was valued at USD 3.5 billion in 2016.
Turbofan Engine:
A turbofan (Turbine with Fan) is a type of gas turbine in which the fan is driven by the gas velocity through the blades. The main advantages of using a turbofan over a turbo-compressor engine are less operating temperature and high efficiency.
The working principle of turbofans is similar to that of jet engines, where air is drawn into the combustion chamber by means of an impeller, mixed with fuel and fired at very high pressure.
Application Insights:
The large aircraft application segment dominated the global gas turbine engine market, accounting for a share of over 40.0% in 2017. The segment is expected to witness growth owing to rising demand from regional airliners and international airlines. In addition, factors such as growing importance of fuel efficiency and reduction in carbon emissions are projected to drive the product demand over the forecast period.
Small gas turbine engines are widely used for applications such as microturbine power plants, residential heating systems, industrial process heaters etc., owing to their low cost and high energy output compared with conventional fossil-fueled counterparts. Growing use of these products in power generation applications is expected to drive their consumption globally; however this may vary from country To country depending on domestic requirements regarding electricity generation capacity within each respective nation/state/territory (U) .
Regional Analysis:
Asia Pacific is expected to be the largest and fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for gas turbines from countries, such as China, India, Japan, South Korea, Indonesia and Malaysia. Asia Pacific was followed by Europe in terms of revenue in 2017 owing to a large base of aircraft manufacturing industry in this region. However, Europe is projected to lose its position as the second-largest market by 2030 due to stringent environmental regulations regarding carbon emissions from aircraft engines. North America accounted for a significant share of global revenue in 2017 owing to high demand from UAV manufacturers across the U.S.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Proliferation of gas-fired power plants as a cleaner and more efficient alternative to traditional thermal power plants
- Rising global temperatures, which are increasing the demand for air conditioning and refrigeration
- Stringent environmental regulations that are encouraging the development of more fuel-efficient gas turbine engines
- The increasing popularity of distributed energy generation systems that use small-scale gas turbine engines
Scope Of The Report
Report Attributes
Report Details
Report Title
Gas Turbine Engine Market Research Report
By Type
Turbojet Engine, Turbofan Engine, Turbo Propeller, Turbine Shaft Engine
By Application
Large Aircraft, Small Gas Turbine, Other
By Companies
GE, Rolls-Royce, Zorya-Mashproekt, Pratt & Whitney, Daihatsu Diesel, Deutz, GMT, IHI Corporation Ltd., Jason Engineering, Scania, SIA Rigas Dizelis, STX Engine
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Gas Turbine Engine Market Report Segments:
The global Gas Turbine Engine market is segmented on the basis of:
Types
Turbojet Engine, Turbofan Engine, Turbo Propeller, Turbine Shaft Engine
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Aircraft, Small Gas Turbine, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE
- Rolls-Royce
- Zorya-Mashproekt
- Pratt & Whitney
- Daihatsu Diesel
- Deutz
- GMT
- IHI Corporation Ltd.
- Jason Engineering
- Scania
- SIA Rigas Dizelis
- STX Engine
Highlights of The Gas Turbine Engine Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Turbojet Engine
- Turbofan Engine
- Turbo Propeller
- Turbine Shaft Engine
- By Application:
- Large Aircraft
- Small Gas Turbine
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Gas Turbine Engine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A gas turbine engine is a type of internal combustion engine that uses compressed air as its working fluid. The gas turbine engines are used in aircraft, ships and industrial applications.
Some of the key players operating in the gas turbine engine market are GE, Rolls-Royce, Zorya-Mashproekt, Pratt & Whitney, Daihatsu Diesel, Deutz, GMT, IHI Corporation Ltd., Jason Engineering, Scania, SIA Rigas Dizelis, STX Engine.
The gas turbine engine market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gas Turbine Engine Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Gas Turbine Engine Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Gas Turbine Engine Market - Supply Chain
4.5. Global Gas Turbine Engine Market Forecast
4.5.1. Gas Turbine Engine Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Gas Turbine Engine Market Size (000 Units) and Y-o-Y Growth
4.5.3. Gas Turbine Engine Market Absolute $ Opportunity
5. Global Gas Turbine Engine Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Gas Turbine Engine Market Size and Volume Forecast by Type
5.3.1. Turbojet Engine
5.3.2. Turbofan Engine
5.3.3. Turbo Propeller
5.3.4. Turbine Shaft Engine
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Gas Turbine Engine Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Gas Turbine Engine Market Size and Volume Forecast by Application
6.3.1. Large Aircraft
6.3.2. Small Gas Turbine
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Gas Turbine Engine Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Gas Turbine Engine Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Gas Turbine Engine Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Gas Turbine Engine Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Gas Turbine Engine Demand Share Forecast, 2019-2026
9. North America Gas Turbine Engine Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Gas Turbine Engine Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Gas Turbine Engine Market Size and Volume Forecast by Application
9.4.1. Large Aircraft
9.4.2. Small Gas Turbine
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Gas Turbine Engine Market Size and Volume Forecast by Type
9.7.1. Turbojet Engine
9.7.2. Turbofan Engine
9.7.3. Turbo Propeller
9.7.4. Turbine Shaft Engine
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Gas Turbine Engine Demand Share Forecast, 2019-2026
10. Latin America Gas Turbine Engine Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Gas Turbine Engine Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Gas Turbine Engine Market Size and Volume Forecast by Application
10.4.1. Large Aircraft
10.4.2. Small Gas Turbine
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Gas Turbine Engine Market Size and Volume Forecast by Type
10.7.1. Turbojet Engine
10.7.2. Turbofan Engine
10.7.3. Turbo Propeller
10.7.4. Turbine Shaft Engine
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Gas Turbine Engine Demand Share Forecast, 2019-2026
11. Europe Gas Turbine Engine Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Gas Turbine Engine Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Gas Turbine Engine Market Size and Volume Forecast by Application
11.4.1. Large Aircraft
11.4.2. Small Gas Turbine
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Gas Turbine Engine Market Size and Volume Forecast by Type
11.7.1. Turbojet Engine
11.7.2. Turbofan Engine
11.7.3. Turbo Propeller
11.7.4. Turbine Shaft Engine
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Gas Turbine Engine Demand Share, 2019-2026
12. Asia Pacific Gas Turbine Engine Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Gas Turbine Engine Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Gas Turbine Engine Market Size and Volume Forecast by Application
12.4.1. Large Aircraft
12.4.2. Small Gas Turbine
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Gas Turbine Engine Market Size and Volume Forecast by Type
12.7.1. Turbojet Engine
12.7.2. Turbofan Engine
12.7.3. Turbo Propeller
12.7.4. Turbine Shaft Engine
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Gas Turbine Engine Demand Share, 2019-2026
13. Middle East & Africa Gas Turbine Engine Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Gas Turbine Engine Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Gas Turbine Engine Market Size and Volume Forecast by Application
13.4.1. Large Aircraft
13.4.2. Small Gas Turbine
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Gas Turbine Engine Market Size and Volume Forecast by Type
13.7.1. Turbojet Engine
13.7.2. Turbofan Engine
13.7.3. Turbo Propeller
13.7.4. Turbine Shaft Engine
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Gas Turbine Engine Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Gas Turbine Engine Market: Market Share Analysis
14.2. Gas Turbine Engine Distributors and Customers
14.3. Gas Turbine Engine Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. GE
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Rolls-Royce
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Zorya-Mashproekt
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Pratt & Whitney
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Daihatsu Diesel
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Deutz
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. GMT
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. IHI Corporation Ltd.
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Jason Engineering
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Scania
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. SIA Rigas Dizelis
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. STX Engine
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook