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Aircraft Micro Turbine Engine Market to Exhibit 5.8% CAGR and Generate $4,074.90 Million by 2031 | Research Dive

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The global aircraft micro turbine engine market is expected to grow primarily due to the increasing concept of micro turbine for propulsion. The aftermarket sub-segment is expected to flourish immensely. The market in the Europe region is predicted to grow at a high CAGR by 2031.

NEW YORK, June 27, 2023 /PRNewswire/ —

Global Aircraft Micro Turbine Engine Market Forecast Analysis

As per the report published by Research Dive, the global aircraft micro turbine engine market is expected to register a revenue of $4,074.90 million by 2031 at a CAGR of 5.8% during the forecast period 2022-2031.

Segments of the Aircraft Micro Turbine Engine Market

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The report has divided the aircraft micro turbine engine market into the following segments:

  • Engine Type: turboshaft and turbojet
    • Turboshaft – Most dominant in 2021
      Turboshaft engines are used in a wide range of applications, including turboprop aircraft, helicopters, and several small unmanned aerial vehicles (UAVs). This is expected to push the growth of this sub-segment further.
  • Distribution Channel: OEM and aftermarket
    • Aftermarket – Highest market share in 2021
      Continued advancements in the field of micro turbine engines are expected to boost the sub-segment in the 2022-2031 timeframe.
  • Application: civil, defense, and others
    • Civil – Most profitable in 2021
      The civil application of aircraft micro turbine engines involves both general aviation and commercial aviation applications. These engines can be found in a broad variety of aircraft, including helicopters and small turboprop planes. This is expected to propel the sub-segment forward.
  • Region: North America, Europe, Asia-Pacific, and LAMEA
    • Europe – Significant market share in 2021
      The increasing demand for more effective and dependable aircraft engines, the rise in need for lightweight, small, and fuel-efficient engines, and the development of the UAV sector are predicted to propel the market in the forecast period.

Access to the Complete PDF Sample of the Aircraft Micro Turbine Engine Market

Dynamics of the Global Aircraft Micro Turbine Engine Market

The growing need for electric and hybrid-electric aircraft is expected to make the aircraft micro turbine engine market a highly profitable one in the forecast period. Additionally, a surge in technological developments in aircraft micro turbine engines is predicted to propel the market forward. However, the lack of market penetration of aircraft microturbine engines might become a restraint in the growth of the market.

The rise in demand for urban air mobility to curb traffic congestion in urban regions is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, a notable increase in demand for microturbine engines as they offer several advantages for eVTOL aircraft such as compact size, enhanced fuel efficiency, and reduced noise emissions is expected to propel the aircraft micro turbine engine market forward in the coming period.

COVID-19 Impact on the Global Aircraft Micro Turbine Engine Market

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The COVID-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The aircraft micro turbine engine market, too, was negatively impacted due to the pandemic. The decline in air travel and the subsequent drop in demand for new aircraft also resulted in a decline in the demand for microturbine engines. The outbreak slowed new aircraft purchases since airlines and aircraft manufacturers were worried about the future demand for air travel. As a result, several aircraft manufacturers were forced to delay or cancel plans to introduce new aircraft that needed microturbine engines. These factors significantly hindered market growth amidst the pandemic.

Speak with an Analyst or Schedule a call to get more Industry Insights on the Aircraft Micro Turbine Engine Market

Key Players of the Global Aircraft Micro Turbine Engine Market

The major players of the market include

  • Elliott Company
  • AeroDesignWorks GmbH
  • General Electric Company
  • Kratos Defense & Security Solutions Inc.
  • Micro Turbine Technology B.V.
  • Honeywell International Inc.
  • PBS Group
  • Turbotech SAS
  • Williams International.
  • Sentient Blue Technologies

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.

For instance, in June 2021, Kratos Defense & Security Solutions, Inc., a prominent supplier of national security solutions, announced that KTT (Kratos Turbine Technologies) Division received a $8.6 million task order under its ATTAM (Advanced Turbine Technologies for Affordable Mission) ID/IQ contract. As per the terms of the deal, the company will design, develop, assemble, and test a cost-efficient turboshaft engine for Group 3 UAVs.

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Granular Research on Specific Regions or Segments of Aircraft Micro Turbine Engine Market & Avail 10%OFF

What the Report Covers

Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)

More about Aircraft Micro Turbine Engine Market:

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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Contact:
Mr. Abhishek Paliwal
Research Dive
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Blockchain Press Releases

Howe-Baker International Signs Memorandum of Understanding with D.Energy to Pioneer Clean Hydrogen Production Using Blockchain Technology

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TYLER, Texas, July 17, 2024 /PRNewswire/ — Howe-Baker International, a leader in design and engineering for the energy sector, is pleased to announce the signing of a Memorandum of Understanding (MOU) with D.Energy, a layer 1 blockchain pioneering clean energy protocols. This strategic partnership aims to advance the research and development of implementing blockchain technology in the generation of clean hydrogen.

Under the terms of the MOU, Howe-Baker and D.Energy will collaborate to explore and develop blockchain-based systems to enhance the efficiency, transparency, and security of hydrogen production processes. The collaboration aligns with both companies’ commitment to fostering innovation and sustainability in the energy sector, heralding a new era of clean hydrogen production powered by blockchain technology.

Key Objectives of the Collaboration:

  1. Efficiency Enhancement: Utilizing blockchain technology to optimize hydrogen production processes, reducing costs and improving overall efficiency.
  2. Transparency and Traceability: Ensuring transparent tracking of hydrogen production from renewable sources to end-users, enhancing trust and accountability in the supply chain.
  3. Security and Data Integrity: Implementing robust blockchain solutions to safeguard data integrity and prevent unauthorized access or tampering.
  4. Sustainability Goals: Contributing to global efforts to reduce carbon emissions by promoting the adoption of clean hydrogen as a viable and sustainable energy source.

Comments from Leadership:

“We are thrilled to partner with D.Energy on this groundbreaking initiative,” said Layken White, president of Howe-Baker. “Combining our extensive experience in energy infrastructure with D.Energy’s blockchain expertise, we are poised to revolutionize the clean hydrogen production industry. This collaboration not only supports our sustainability goals but also positions us at the forefront of technological innovation in clean energy.”

Shafi Rafi, founder of D.Energy, added, “This MOU marks a significant milestone in our mission to integrate blockchain technology into the energy sector. By partnering with Howe-Baker, we aim to develop scalable and secure blockchain solutions that will drive the future of clean hydrogen production. Together, we are committed to creating a more efficient and sustainable landscape for On-Chain Real World Assets (RWAs).”

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About Howe-Baker International:

Howe-Baker International is a global technology company providing engineering, fabrication and construction services for the energy industry. With a rich history of delivering innovative solutions, Howe-Baker is dedicated to driving progress in the energy sector and supporting the transition to cleaner energy sources.

For more information, please contact: 
Reem Ellafi
[email protected]
www.howebaker.com

About D.Energy:

D.Energy is a layer 1 blockchain that specializes in tokenizing sustainable Real World Assets (RWAs). Its platform supports a wide range of applications, including trading climate assets, enhancing the efficiency and security of renewable energy production, and promoting the integration of sustainable energy technologies.

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For more information, please contact: 
Luke Potter
[email protected]
www.d.energy

Photo – https://mma.prnewswire.com/media/2463771/d_energy_howe_baker_square.jpg

 

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Blockchain

Artificial Intelligence takes Center Stage at Blockchain Futurist Conference 2024 in Toronto

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 The highly anticipated Blockchain Futurist Conference, Canada’s Largest Web3 Event, is set to return for its sixth year to Toronto this August 13-14, 2024, with a focus on Artificial Intelligence as a core theme. This year’s event promises to offer sessions, panels, and sub-events centered around AI, highlighting how these technologies are transforming Web3 and reshaping our world. The dedicated AI segment is scheduled for Wednesday, August 14, 2024, and is accessible with all conference passes.

AI and Web3 technologies are rapidly converging to create a future that promises to revolutionize the digital landscape. AI’s ability to analyze vast amounts of data, and automate complex processes, complements Web3’s decentralized and transparent framework. This integration enables more secure, and equitable solutions across various sectors.

At this year’s event, attendees can hear from top industry leaders in AI such as:

  • Anthony Di Iorio, Founder, Ethereum, Decentral, Andiami

  • Ben-Zion Benkhin, CEO, WOMBO

  • Ashley Nandan, Google Canada, Startups

  • Ari Juels, Chief Scientist, Chainlink Labs

  • Christopher Johnson, Developer, Bad Idea AI

  • Trevor Koverko, Co-Founder, Sapien

  • JD Seraphine, CEO, Raiinmaker

  • Breeze Liu, Founder & CEO, Alecto AI

  • Christopher Obereder, Investor, Startup Chris Ventures

  • Adam Benzine, Creator & Oscar®-Nominated Filmmaker

AI Futurist Conference will also host multiple sponsors dedicated to AI organizations, such as Inference Labs, a Gold Sponsor at this year’s event.

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Inference Labs specializes in developing advanced infrastructure and products for AI on Web3. Their lab focuses on AI inference interoperating on the blockchain, an essential step for building a future where anyone can access AI without counterparty risk.

Ron Chan, Co-Founder of Inference Labs, and a visionary entrepreneur dedicated to pioneering the future of Decentralized AI had this to say:

“In all my years navigating tech cycles, I have never witnessed the level of developer interest in Artificial Intelligence that we see today. We’re at an inflection point where Internet traffic is roughly split 50/50 between humans and machines. I firmly believe that inference will soon become the dominant form of Internet traffic.”

With two decades of experience as a serial entrepreneur, Ron Chan has successfully navigated the ever-evolving tech industry, leading multiple technology and infrastructure startups to successful exits. His expertise spans architecting data centers, defense projects, and developing mission-critical civil aviation applications, showcasing his versatility and adeptness in managing complex, high-stakes ventures.

Futurist Conference will also host multiple sub-events and meetups for the AI community throughout the venue on both days. These include:

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  • Crypto x AI Book Signing: Ari Juels, Chief Scientist of Chainlink Labs and author of “The Oracle,” will discuss Crypto x Artificial Intelligence on the Main Stage, followed by a book signing.

  • AI Ethics Roundtable: A critical exploration of the ethical implications of AI and the transformative role of Web3 technologies.

  • AI Web3 & Robotics for Kids: A fun and interactive workshop for kids to learn about AI and Web3, with hands-on experience with robots.

  • Robots Live Onsite: Witness jaw-dropping innovations in action and experience the thrill of future technologies before your eyes.

Futurist Conference aspires to be more than just an event; it aims to create a future world within a conference, immersing attendees in the cutting-edge technologies that will shape tomorrow. By offering interactive experiences, and live demonstrations, the conference allows participants to see, feel, and engage with the latest advancements in AI, Web3, and beyond.

Futurist Conference is the perfect place for these industries to convene, providing a unique platform for thought leaders, innovators, and enthusiasts to explore the transformative potential of AI and Web3 technologies. Get ready to step into the future this August.

The post Artificial Intelligence takes Center Stage at Blockchain Futurist Conference 2024 in Toronto appeared first on HIPTHER Alerts.

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Blockchain Press Releases

Zilliqa makes blockchain history by buying a racehorse

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SINGAPORE, July 17, 2024 /PRNewswire/ — Zilliqa, the long-established layer-1 blockchain and market leader in Web3 sports and entertainment, is proud to announce its venture into the world of horse racing through the acquisition of a racehorse.

Aptly named “The HRSE Horse”, the racehorse’s unique moniker is a nod to $HRSE, the recently-launched fan token of The Winners Circle, an innovative new loyalty platform that uses Web3 to redefine the racing fan experience.

The ownership will see The HRSE Horse sporting community-selected colours and branding when racing, generating mainstream exposure for both The Winners Circle and the Zilliqa blockchain.

The HRSE Horse is the first racehorse to ever be owned by a blockchain company, and its unusual name was not chosen only to prick up the ears of the established horse racing community, but also to demonstrate how The Winners Circle is combining the physical world of horse racing with its core tenet of digital ownership unlocked by harnessing the capabilities of the Zilliqa network.

Launched by Racing League and powered by Zilliqa, The Winners Circle is a fan engagement platform supercharged by Web3 that features a free-to-play prediction game where fans are rewarded with $HRSE tokens by correctly choosing the winners of real-world horse races. These tokens can then be used to influence the decisions of teams competing in the exciting Racing League competition while also unlocking exciting features such as discounts on racehorse ownership shares, tickets, merchandise, and more..

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The Token Generation Event (TGE) for $HRSE was concluded on July 17th, with the token now listed on participating exchanges such as MEXC and Pancake Swap.

Zilliqa’s foray into horse racing goes beyond sport; it is an opportunity to bridge the gap between physical and digital realms, echoing The Winners Circle’s vision of embracing opportunities in both spheres.

The HRSE Horse is trained by former National Hunt jockey and globally renowned racehorse trainer Jamie Osborne, whose mission to reinvigorate the world of horse racing and attract a younger demographic is aligned with the innovative fan-first approach taken by The Winners Circle that leverages Web3 to redefine the fan experience. Osborne’s extensive knowledge of horse racing and bright sense of humour birthed the idea of finding a horse for Zilliqa to own and naming it The HRSE Horse.

With a global presence amplified by the audience of this thrilling sport, Zilliqa aims to capture the imagination of communities worldwide, celebrating the spectacle of horse racing while promoting meaningful innovation powered by the Zilliqa blockchain and The Winners Circle.

Commenting on the announcement, Zilliqa CEO Matt Dyer, said:

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“We are thrilled to announce our ownership of The HRSE Horse, who we hope will turn heads for his speed as well as his unique name. In becoming the first blockchain to own a racehorse, not only do we showcase the potential for The Winners Circle to redefine fan engagement in this age-old sport, but we also demonstrate how the HRSE token brings the real and digital worlds together. We’ve bought a racehorse, and by signing up for The Winners Circle, fans can have the chance to own a share of one, too.”

Commenting on the announcement, Trainer Jamie Osborne, said

“I am excited by Zilliqa’s ownership of The HRSE Horse and excited to see him perform on the race track. Horse racing needs to embrace new technologies to attract a younger demographic, and I believe The Winners Circle has the potential to drive a new generation of racing fans to this thrilling sport, which is why I’ve supported their mission from the start. Hopefully The HRSE Horse and Zilliqa will achieve great success and make this season be remembered as the Zilliqa summer, on and off the track.”

About Zilliqa

Zilliqa, the industry-recognised layer-1 blockchain founded in Singapore in 2018 is a high-performance, high-security, and low-fee blockchain platform. Designed to scale with the demands of global businesses, the blockchain serves as a versatile foundation that facilitates a broad array of Web3 applications and services across a multitude of sectors, providing a robust platform for emerging developers and established enterprises alike. The next evolution of the network, Zilliqa 2.0, is currently under development and offers a user-centric platform designed for ease of use and customisability.

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