Aircraft Heat Exchanger Market Development Trends & Competitive Analysis by Leading Industry Players
The aircraft heat exchanger market was valued at US$ 1,506.8 million in 2019 and is projected to reach US$ 2,536.0 million by 2027. The Aircraft heat exchanger market is expected to grow at a CAGR of 6.7% during the forecast period of 2020 to 2027.
The aircraft heat exchanger market is experiencing a steep demand in terms of procurement among various commercial airlines and defense forces. Attributing to the enormous demand for technologically advanced aircraft, the well-established airliners as well as defense forces across North America, Europe, Asia Pacific, Middle East and Africa, and South America are pressurizing the heat exchanger manufacturers to innovated and develop robust technology to cater their demands. The airlines, aircraft manufacturers and defense forces rely heavily on the brand value of the aircraft component manufacturers, and due to this, majority of the contacts are awarded to the established and industry recognized aircraft heat exchanger manufacturers, thereby, creating minimum space for new manufacturers to enter the market.
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The aircraft heat exchanger market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America. The Asia Pacific is projected to be the fastest-growing region in the global aircraft heat exchanger market. Whereas, North America, followed by Europe, holds the highest market share in the aircraft heat exchanger market in 2018.
Moreover, the aircraft component manufacturers have to adhere to a numbers of laws and rules set by international and domestic aviation organizations, which limit the manufacturing cost. Along with this, the capital investment involved in setting up of aircraft heat exchanger manufacturing plant is higher, which again pose a potential risk for the new entrants in the industry. Thus, owing to the stringent rules and regulations and higher Capex, makes the threats to new entrant parameter all time low in the aircraft heat exchanger market.
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The Asia Pacific is expected to be the region experiencing ample of opportunities for the manufacturers and providers of aircraft components and devices. The Asia Pacific has several growing economies, which is leading the growth with a wide variety of sectors, including aerospace, military & defense, construction, technology, and others. Many emerging economies in the APAC region are considered to be developing economies and therefore attracting investment from regulatory bodies of these countries to bring enhancement in their technologies. This would eventually propel the growth and adoption of enhanced devices to be integrated into aircraft which drive the demand of aircraft heat exchanger.
Some of the other notable players in the global aircraft heat exchanger market include Boyd Corporation, Honeywell International Inc., Jamco Corporation, Liebherr Group, Meggitt Plc, Tat Technologies Ltd., Triumph Group, Inc., Collins Aerospace, Wall Colmonoy, and Woodward, Inc.
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