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).
Factors such as low maintenance costs for wind energy technologies and the rise of companies using airborne wind energy systems across the world are expected to drive the market between 2024 and 2029.
On the other hand, the high cost of building and installing turbines and the lack of proper developers are expected to hinder the market's growth.
Nevertheless, technological advancements like airborne wind energy (AWE) technologies, which are fundamentally new and require significant further development, are expected to create several future market opportunities from 2024 to 2029.
Europe is expected to be the largest and fastest-growing region in the global airborne wind energy market between 2024 and 2029.
The airborne wind turbine market is semi-consolidated with key players such as GE Power, Enercon GmbH, Nordex SE, Vestas Wind Systems AS, and Siemens AG. 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.
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