NEWTOWN, Conn., Aug. 22, 2016 (GLOBE NEWSWIRE) -- Aviation gas turbine engine production data gleaned from Forecast International's Platinum Forecast System® 2.0 reveals that over the next 15 years, this market segment will be one of astonishing proportions. During the 2016 -2030 period, manufacturers are expected to produce more than 589,000 aviation gas turbine engines, including turbofan, turboshaft, turboprop and turbojet types. The value of this production in 2016 dollars is $1.232 trillion, at estimated list prices.
The market for aviation gas turbines is being driven by an impressive aircraft production market comprising three major re-equipment cycles, including an unprecedented demand cycle for new airliners, a market for new business jets and, on the military side, a replacement cycle for aging fighter and fighter-bomber aircraft.
In terms of the types of engines that the aviation gas turbine market will comprise, turbofans will be the dominant type produced, as they will power most of the airliners, all of the business jets and, coupled with thrust-augmenting afterburners, the very high-performance fighters of the future. Turboshafts now power all rotorcraft except a few at the very light end of the spectrum that still employ pistons. Also, there is still a niche market for turboprops to power some regional airliners and military special purpose aircraft, which have need of the enhanced short-field capabilities provided by turboprops or, in some cases, the slow-speed loitering capability they provide. Finally, there is still a niche market for turbojets, which power missiles of many types as well as some target drones.
The Aviation Gas Turbine module of FI's Platinum Forecast System incorporates forecasts for every type of projected airframe worldwide, and converts them into a demand curve for each of the respective engine types, including installed on-the-wing power, plus pipeline spares in the form of whole engines or equivalent sets of components.
The Platinum Forecast System 2.0 is a breakthrough in forecasting technology that allows the selection of unique criteria to create distinct market segments. Platinum provides customized assessments that quickly identify both risk and future opportunities.
About Forecast International
Forecast International, Inc. is a leading provider of Market Intelligence and Analysis in the areas of aerospace, defense, power systems and military electronics. The firm also maintains a high posture of situational awareness and geopolitical analysis. Based in Newtown, Conn., USA, Forecast International specializes in long-range industry forecasts and market assessments used by strategic planners, marketing professionals, military organizations, and governments worldwide. Forecast International's resources and extensive base of experience can also be readily adapted and efficiently focused to fulfill a broad spectrum of civil and military consulting and special research requirements.
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Source:Forecast International, Inc.