Airborne Wind Turbines Market Size
| Study Period | 2019-2029 |
| Market Size (2024) | USD 141.61 Million |
| Market Size (2029) | USD 218.79 Million |
| CAGR (2024 - 2029) | 9.09 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Airborne Wind Turbines Market Analysis
The Airborne Wind Turbines Market size is estimated at USD 141.61 million in 2024, and is expected to reach USD 218.79 million by 2029, growing at a CAGR of 9.09% during the forecast period (2024-2029).
With the huge potential and demand in the global wind turbine market, companies must invest in new technologies and introduce products that effectively use this green technology. Both military and disaster relief missions, which require quick and dependable electricity to function, might be powered by wind energy shortly.
- Continuous inspection is necessary to spot damage and anomalies in wind turbines. Deposits on rotor blades require periodic cleaning, as damage to a turbine reduces its capacity to generate power and raises its noise output. Periodic inspection by technicians is a must to detect these damages. Automated methods are being created to continuously check the health of wind turbines to lower the cost of maintaining them and to help identify deviations from the norm as soon as feasible.
- Toshiba launched its commercialized robot inspection services for power plant turbine generators. These robots are designed exclusively for thermal and nuclear power plant business maintenance services. The versatile robot also has a probe that uses ultrasound to check for interior flaws on the wedge and teeth of a turbine rotor.
- There is uncertainty over the technical resource potential of wind energy for AWE systems, as this will rely on the energy-harvesting capabilities of commercial designs, which can prevent clients from making quick investments in Airborne Wind turbines. AWE technologies are fundamentally new and require significant further development before being deployed at meaningful scales at the national level.
- The uncertainties, such as the COVID-19 pandemic and Russia-Ukraine, drastically affected energy demand and consumption. Despite these challenges, power generation technology showed its resilience to crises. Major sectors realized the cost-effective nature of renewable energy. ENGIE Laborelec participated in the Aquilon project at a Storengy gas storage facility in Germany to decarbonize its operations. The project used the SkySails airborne wind energy (AWE) solution, which harvestsed wind energy at greater altitudes than wind turbines by using a giant kite.
Airborne Wind Turbines Market Trends
Offshore Application to Have Substantial Growth in the Airborne Wind Turbines Market
- Increasing offshore wind power is an opportunity to reduce dependence on fossil fuels and accelerate the journey to net zero. The potential of offshore energy can be understood with the stated example. One GE Haliade-X 12MW offshore wind turbine rotation produces enough energy to power the average UK home for 24 hours.
- Offshore wind farms are making headlines worldwide for their scale as countries increasingly turn to them to reduce dependence on fossil fuels and accelerate the energy transition.
- According to a report by Wood McKenzie, the Global capacity of large-scale wind farms is expected to increase from 34 GW in 2020 to 330 GW in 2030. The US Biden administration aims to reduce the cost of floating technologies up to 70% by 2035 and increase capacity to 15 GW by 2035, enough to power 5 million homes.
- Danish energy company Ørsted developed the world's largest fixed-bottom offshore wind farm off the coast of Yorkshire in the UK, called Hornsea 2, with 165 wind turbines sited next to its older sibling Hornsea 1. Together these farms can power 2.5 million homes, contributing to the UK government's goal of 50 GW in offshore wind capacity by 2030.
- As of October 2022, only around 50 floating offshore wind turbines have been commissioned, and global stock is expected to exceed 5 GW by 2030 and 25 GW by 2035.
- Mammoet organized the Offshore Wind Innovators contest to identify the potential of product innovation of various companies working towards developing new solutions in the Airborne Wind Turbine Market. One of the competition's finalists, Skylifter, presented an aerial crane lifting 250 tons, which performs maintenance of machine components and blades over 2,000 kilometers.
Europe Dominates the Airborne Wind Turbines Market
- Europe has 207 GW of onshore wind capacity, and the European Commission has the vision to increase it to 1,000 GW by 2050 as part of its net-zero vision. Developing more wind sites to cater to this demand will drive the growth of the Airborne Wind Turbines Market in the region.
- AWE can provide energy at a lower cost than established wind technology. By the early 2030s, AWE could compete at an average price lower than established wind technology. By harvesting more wind resource potential up to 300-500 meters, AWE is viable in more locations that are not viable for established wind technology.
- About 20 small companies, most located in Europe, are developing devices for AWE, and some hope to have commercially operational ground systems by 2025. In collaboration with Norwegian Offshore
- Wind Cluster and its members, Makani took an energy kite trial that flew over the sea at the Metcentre test site. In partnership with the Norwegian Offshore Wind Cluster and its members, Makani ran a trail of an energy kite flying over the sea at the Metcentre test site.
Airborne Wind Turbines Industry Overview
Airborne Wind Turbines Market is semi-consolidated with some key players such as GE Power, Enercon GmbH, Nordex SE, Siemens AG, and others. These companies are investing in various applications to gain market share and expand the scope of their service offerings. Businesses have remained competitive in the market by utilizing joint ventures, mergers, and acquisitions.
In January 2023, TUV SUD, the German Audit and certification service provider, signed a deal with Ventus Group to provide services to a wind energy company in India. As part of the deal, the duo will assist energy companies in India with technologies for measuring, analyzing, and optimizing the performance of wind farms and wind turbines utilizing Wind Turbine Generators (WTG). The clients would get guidance on maximizing safety and production from their existing and future wind energy investments.
In October 2022, Siemens Gamesa signed a contract with Airborne to engineer and supply an automated system for manufacturing composite offshore wind turbine blades. The project's key focus will cover manufacturing wind turbine blades, hybrid processing, and automation.
In February 2022, UK start-up, Windswept adopted to Shell GameChanger program to demonstrate the viability of autonomous Kite Turbine operation. The project will evaluate the kite turbines' scaling potential and offshore deployment needs. The earlier used human-operated launching and landing operations will become safer and more dependable with the introduction of new performance data, control systems, and handling equipment.
Airborne Wind Turbines Market Leaders
GE Power
Enercon GmbH
Vestas Wind Systems A/S
Siemens AG
Nordex SE
*Disclaimer: Major Players sorted in no particular order
Airborne Wind Turbines Market News
- February 2023: IBL Energy Holdings (IBL) and SkySails Power GmbH partnered to execute their first project using high-altitude wind energy as a green power alternative for diesel generators. The initiative demonstrates the technology's commercial potential for market entry in East Africa and the Indian Ocean region. This will also help in turning Mauritius more independent from fossil energies.
- December 2022: Marcus Family Campus installed Wind Turbine. The GreeNegev student community, in collaboration with Flower Turbines and donor Mr. Daniel Farb, took the initiative. The turbine will be used to charge electrical appliances within the campus. It will cater to 20% of the electricity needed by the campus. At an estimated cost of 0.55 million USD, the project will replace more polluting fuels once completed.
- October 2022: India's Chennai Railway Division installed and commissioned three prototype unit flower turbines, combining wind and solar power generators of 1.5 KW each. These are equipped with a remote monitoring system for real-time monitoring of wind speed and power generation. These also will produce low noise. Such initiatives are taken to increase the use of green energy.
Airborne Wind Turbines Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Ever-growing Consumption of Electricity in Emerging Economies
4.3.2 Low Maintenance of Wind Energy Technologies
4.4 Market Restraints
4.4.1 Cost of Building and Installing Turbines
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Technology
5.1.1 Larger Turbines (above 3 MW)
5.1.2 Smaller Turbines (Less than 3 MW)
5.2 By Application
5.2.1 Offshore
5.2.2 Onshore
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Rest of the Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of the Asia Pacific
5.3.4 Latin America
5.3.5 Middle East
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Vestas Wind Systems A/S
6.1.2 Nordex SE
6.1.3 Enercon GmbH
6.1.4 GE Power
6.1.5 Siemens AG
6.1.6 Senvion S.A.
6.1.7 Goldwind
6.1.8 United Power Inc
6.1.9 Envision Energy
6.1.10 Suzlon Energy Ltd.
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Airborne Wind Turbines Industry Segmentation
Airborne wind energy is converting wind energy into electricity using tethered flying devices. Several electricity companies provide their consumers with power from wind farms. The idea behind Airborne Wind Turbine is a wind turbine with rotor support. These turbines are built at higher altitudes, which results in higher velocity and persistence in wind energy, thereby saving the cost of constructing a tower.
The airborne wind turbines market is segmented by technology (larger turbines (above 3 MW), smaller turbines (Less than 3 MW)), application (offshore, onshore), and geography. (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The market size and forecast are provided in terms of values (USD) for all the above segments.
| By Technology | |
| Larger Turbines (above 3 MW) | |
| Smaller Turbines (Less than 3 MW) |
| By Application | |
| Offshore | |
| Onshore |
| Geography | ||||||
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| Latin America | ||||||
| Middle East |
Airborne Wind Turbines Market Research FAQs
How big is the Airborne Wind Turbines Market?
The Airborne Wind Turbines Market size is expected to reach USD 141.61 million in 2024 and grow at a CAGR of 9.09% to reach USD 218.79 million by 2029.
What is the current Airborne Wind Turbines Market size?
In 2024, the Airborne Wind Turbines Market size is expected to reach USD 141.61 million.
Who are the key players in Airborne Wind Turbines Market?
GE Power, Enercon GmbH, Vestas Wind Systems A/S, Siemens AG and Nordex SE are the major companies operating in the Airborne Wind Turbines Market.
Which is the fastest growing region in Airborne Wind Turbines Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Airborne Wind Turbines Market?
In 2024, the Europe accounts for the largest market share in Airborne Wind Turbines Market.
What years does this Airborne Wind Turbines Market cover, and what was the market size in 2023?
In 2023, the Airborne Wind Turbines Market size was estimated at USD 128.74 million. The report covers the Airborne Wind Turbines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Airborne Wind Turbines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Airborne Wind Turbines Industry Report
Statistics for the 2024 Airborne Wind Turbines market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Airborne Wind Turbines analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
