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Aeroderivative Gas Turbine Service Market Size

Report ID: GMI9789
Published Date: Jun 2024
Report Format: PDF

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Aeroderivative Gas Turbine Service Market Size

Aeroderivative Gas Turbine Service Market was valued at USD 3.3 billion in in 2023 and is estimated to grow at a CAGR of over 9.2% between 2024 and 2032. The robust expansion of aerospace and defense industries along with the increasing focus on clean energy generation will fuel the demand for services.

Aeroderivative Gas Turbine Service Market

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Aeroderivative gas turbine service encompass a range of maintenance, repair, and support activities tailored specifically to aeroderivative gas turbine systems used in various applications, including power generation, aerospace, marine propulsion and industrial processes. These services aim to ensure the optimal performance, reliability, and longevity of aeroderivative gas turbines throughout their operational lifecycle. It includes preventive maintenance, troubleshooting, component repair and replacement, performance enhancements, technical support and remote monitoring and diagnostics among others.

Aeroderivative Gas Turbine Service Market Report Attributes
Report Attribute	Details
Base Year:	2023
Aeroderivative Gas Turbine Service Market Size in 2023:	USD 3.3 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	9.2%
2032 Value Projection:	USD 7.2 Billion
Historical Data for:	2021 – 2023
No. of Pages:	120
Tables, Charts & Figures:	50
Segments covered:	Service, Application, Service Provider & Region
Growth Drivers:	Upgradation of aging fleets of gas turbines Effective measures to improve the performance of power plants Increasing demand for clean power generation
Pitfalls & Challenges:	Growing penetration of other emerging technologies

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of aeroderivative gas turbine service was reached USD 3.3 billion in 2023 and is projected to expand at 9.2% CAGR from 2024 to 2032, due to the robust expansion of aerospace and defense industries.

The maintenance service segment in the aeroderivative gas turbine service industry is projected to account for more than USD 1 billion by 2032, owing to growing adoption for power generation across wide multitude of areas.

The OEM service provider segment in the aeroderivative gas turbine service industry is estimated to grow at over 8.5% CAGR between 2024 and 2032, due to the substantial investments in advanced R&D facilities and data management hubs.

Asia Pacific aeroderivative gas turbine service market is projected to surpass USD 2 billion by 2032, due to the growing investments in renewable energy sources and the rising need for backup power solutions.