Results of Market Study Available
AeroStrategy, a management consulting company located in Ann Arbor, Michigan, U.S.A., has announced the completion of a global study of the operation and maintenance (O&M) for industrial gas turbines (IGT) market. The study includes both frames and aeroderivative used in power generation, mechanical drive and marine applications.
Key findings include - the 2009 maintenance market, estimated at US$18.3 billion, is dominated by heavy frame units comprising over 70% of total maintenance spending. Also, the study found that spending is estimated to grow 3.7% per annum, exceeding US$25 billion by 2018. This growth is expected to be lead by China, Eastern Europe/Russia and the Middle East.
The study also indicates OEM aftermarket market share is 57% but that the use of non-OEM parts and independent service providers is increasing. AeroStrategy specializes in strategy and market analysis for aerospace and power generation industries. The firm has offices in North America, Europe and Asia.
For more information: www.aerostrategy.com