Global Aircraft Heat Exchanger Market is valued approximately USD 1.21 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 7.2% over the forecast period 2020-2027.
Heat Exchangers are tools used in thermal engineering fields such as electronic cooling, power system cooling, refrigeration and others.
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The aircraft heat exchangers are used for cooling certain components of the plane namely, auxiliary power units, hydraulics, gearbox, rammed air and others. The growing demand for air transport across the globe triggers the demand for these Heat exchangers. Also, the surge in the air passengers and air travel has led to increased procurement of aircrafts which increases the demand for Heat Exchangers. As per the Dubai Air Show report 2019, the Middle-eastern region is home to 87 airlines which operates approximately 1.2 million flights annually and moves 7.2 million tons of freight.
Moreover, the IATA has projected that the Middle Eastern will reach 501 million passengers by 2037 and nearly 3000 commercial planes and 64,000 pilots will be needed during the estimated period. The procurement of these planes has been started. As in 2018 Fly Emirates committed USD 16 billion to a fleet of new Airbus A380s followed by an order of 40 new A330neo and 30 new A350-900 aircraft worth USD 21.4 billion in early 2019. Furthermore, growing defense spending and increasing procurement of fighter jets augments the market growth. As per the Stockholm International Peace research institute (SPIRI) United States increased their defense spending by 5.3% reaching a total of USD 732 billion in 2019 as compared to their spending in 2018. Accounting for 38% of the global defense spending. However, issues with the availability of raw materials impedes the growth of the market over the forecast period of 2020-2027.
Major market player included in this report are:
- Aavid Thermalloy
- Honeywell Aerospace
- TAT Technologies
- Triumph Group
- United Technologies
The regional analysis of global Aircraft Heat Exchanger market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to high penetration of air travel and growing aircrafts in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing procurement of aircrafts would create lucrative growth prospects for the Aircraft Heat Exchanger market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Environmental Control System
Unmanned Aerial Vehicles
- North America
- Asia Pacific
- Latin America
- Rest of the World
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