Premier Global Study of Industrial Gas Turbine Maintenance Market Finds Over $18B spent in 2009: Market Expected to Exceed $25B by 2018
ANN ARBOR, MICHIGAN – – The Industrial Gas Turbine Global Maintenance Market, the industry’s first global study of the operation and maintenance (O&M) of industrial gas turbines (IGT), estimates the 2009 total maintenance market at over $18B and growing. The study by AeroStrategy is unique in nature and includes both frames and aeroderivative used in power generation, mechanical drive, and marine applications. The analysis included in the study is underpinned by a global survey conducted by AeroStrategy of turbine operators.
Key findings include:
• 2009 total maintenance is estimated at $18.3B, dominated by heavy frame units, which comprise over 70% of total maintenance spending
• General Electric turbines account for the largest share of total spend at 37%; with the majority of total spending in North America at 30%
• Spending will likely grow by 3.7% per annum, exceeding $25B by 2018; this growth is lead by China (though a relatively small market), Eastern Europe/Russia, and the Middle East
• The OEM average market share in the aftermarket is approximately 57%; this is considerably higher for newer generation turbines
• The survey indicates that the use of non-OEM parts and Independent Service Providers is increasing
Dr. Bill Day*, founder of the Gas Turbine Association and the organization’s current managing director, commented, “The AeroStrategy industrial gas turbine maintenance study fills a much-needed void in the market place. It’s apparent that they’ve invested considerable time and resources in their global study. These results should greatly facilitate planning and business decision-making for companies in the powergen, mechanical drive and marine industries.”
AeroStrategy is an international management consulting firm that specializes in strategy and market analysis for aerospace and power generation industries. The firm has offices in North America, Europe and Asia.
* These remarks of Dr. Bill Day do not necessarily reflect the thoughts or opinions of the Gas Turbine Association.
For further information, please contact:
Lynzie Babala
Media Relations
AeroStrategy, LLC
101 N. Main St. Suite 400
Ann Arbor, MI 48104
734-929-6616
usadminaero@aerostrategy.com