The global market for aircraft environmental control systems will be growing in size at an impressive CAGR of 4.50% starting from 2018 to 2023 (forecast period), according to the new report by Market Research Future (MRFR).
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Also, worth noting are factors like augmented production of commercial aircrafts, like B737, B787, A320, and A350; expected emergence of upcoming aircraft like C919 and E-2 jets, and increasing electric content in aircraft. These could provide a vast opportunity for the market, setting in motion the tremendous expansion of the market in the coming years.
The market was estimated at USD 3460 Million in 2017. It is forecasted to surpass that value and reach the amount of USD 4506 Million by 2023. The market growth is likely to soar due to factors such as growing air traffic in the regions of the Asia Pacific and Europe, and resultant elevation in aircraft deliveries. Moreover, rapid technological advancements in the field are likely to propel the growth of aircraft environmental control systems market in the forthcoming years. To the contrary, existing backlogs in aircraft deliveries could be a challenging factor for the market growth in the coming years.
The global aircraft environmental control systems market is segmented on the basis of system, component, and end-user.
System-wise, the market depends on three key segments, wherein the air conditioning system holds the largest share in the global market, temperature control system, and the aircraft pressurization systems is expected to grow at the fastest rate. The growing market for air conditioning system is due to the growing number of airports coupled with affordable air transport.
Component-based segmentation in the global aircraft environmental control systems market include heat exchanger, water separator, temperature regulator, pressure regulator, wherein the heat exchanger segment has amassed the largest market share. On the other hand, the pressure regulator is the fastest growing segment in the global market. The market for heat exchangers profits from the increasing energy prices along with stringent government regulations on the emission of CO2.
Depending on end-users, the market is segmented on the basis of commercial and defense, where the commercial segment governs the largest market share in the total market and the defense is the fastest growing segment in the global market. Commercial aviation has surged considerably since the Second World War as various ex-military aircraft were roughly modified to transport cargo or passengers.
- Curtiss-Wright Corporation
- Liebherr-International AG
- Honeywell International
- Fimac Spa
- United Technologies Corporation
- Mecaer Aviation Group
- Jormac Aerospace
- Meggitt PLC
- Aero Space Controls Corporation
- Air Innovations
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