Aircraft Heat Exchanger Market Scope
In the commercial aviation sector, the vendors have already been facing a lot of challenges such as disruption in production due to slowdown in aircraft demand, workers went their homes due to COVID-19, steep drop in passenger traffic, and delay in aircraft deliveries due to disrupted supply chain across the world. The Canadian aircraft heat exchangers market is expected to grow at a sluggish pace during the forecast period, according to the AMA study. Moreover, the rising electrification in aircraft, and introduction of electric & more electric aircraft models, and the rising demand for fuel efficient aircraft are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a moderate pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AMETEK, Inc. (United States), Boyd Corporation (United States), Collins Aerospace (United States), Honeywell International Inc. (United States), JAMCO Corporation (Japan), Liebherr Group (Germany), Meggitt PLC (United Kingdom), MSM aerospace fabricators (United Kingdom), TAT Technologies Ltd. (Israel), Triumph Group (United States), Wall Colmonoy (United States) and WOODWARD INC (United States) |
CAGR | % |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the market. The recent industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Aircraft Heat Exchanger market throughout the predicted period.
AMETEK, Inc. (United States), Boyd Corporation (United States), Collins Aerospace (United States), Honeywell International Inc. (United States), JAMCO Corporation (Japan), Liebherr Group (Germany), Meggitt PLC (United Kingdom), MSM aerospace fabricators (United Kingdom), TAT Technologies Ltd. (Israel), Triumph Group (United States), Wall Colmonoy (United States) and WOODWARD INC (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aircraft Heat Exchanger market by Type , by Application (Engine Operations, Wings or Flaps, Thermal Magemment Systems, Windshield, Oil Coolers & Intercoolers, Environmental Control Systems and Others) and Region with country level break-up.
On the basis of geography, the market of Aircraft Heat Exchanger has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In July 2019, Boyd Corporation announced that it has successfully completed the acquisition of Lytron Inc. to further augment Boyd’s robust global manufacturing organization and engineering capacity for liquid-cooled solutions.
In April 2019, AMETEK announced that it has introduced a new heat exchanger i.e. XXP280 for corrosive and ultra-pure chemicals which has a rugged design, constructed fully with a fluoropolymer, allows precise temperature control in extreme environments where others fail.
Stringent Government Regulations Regarding Travel Bans on Flights Across the World Due to COVID-19 has Impacted the Canadian Aerospace Sector Severely and also it has led to Negative Impact on the Demand for Aircraft Heat Exchangers in Canada
Influencing Trend:
Introduction of Electric and More Electric Aircraft
Market Growth Drivers:
Increasing Demand for Fuel Efficient Aircraft and Increasing Production of Military Aircraft
Challenges:
Disrupted Aircraft Production in the FY 2020 Due to COVID-19 Pandemic and Slow Recovery in Air Passenger Traffic and Expected Delays in Aircraft Deliveries
Restraints:
Fluctuations in Raw Materials Prices
Opportunities:
Innovation in Technologies for Fuel Efficient Aircraft is Expected to be one of the Major Opportunities for Market Vendors During the Forecast Period
Analyst View
After a healthy global aircraft demand in 2018, the demand for commercial aircraft declined in the 2019 which was expected to regain its growth in the FY 2020 before the COVID-19 pandemic scenario. After the COVID-19 pandemic across the world, the demand for commercial aircraft has been significantly affected as the air passenger traffic is reduced heavily around the world. At the same time, the demand for military aircraft has remained unaffected by the pandemic. Therefore, the commercial aerospace sector is expected to recover slowly, as the demand for air travel is going to recover back to the 2019 level by 2024 which is expected to hamper the growth of aircraft actuators market for the commercial aviation sector. Moreover, the demand for aircraft heat exchangers for military aircraft applications is expected to remain constant during the forecast period which is expected to drive the market demand during the near future.
Key Target Audience
Government Agencies, Government regulatory authorities, End User Industry, Customer and Others