The global aircraft auxiliary power units (APU) market is anticipated to garner a large revenue by recording a CAGR of ~4% throughout the forecast period, i.e., 2022-2030. In the modern years, aircraft auxiliary power unit market has been performing well and is expected to continue growing significantly in future. There is a huge competition among the manufacturers over the advanced technology being used in order to manufacture the auxiliary power units, which is projected to be beneficial for market growth in the coming years. Furthermore, some major factors such as increasing aircraft demand, from both, commercial as well as defense sector, and the rising need for producing aircraft with less noise, high fuel efficiency and carbon emissions are assessed to boost the market development in the forecasted time. The United States is one of the largest exporters of aircrafts in the world, and is responsible for exporting airplanes worth more than USD 135 billion by the end of 2020.
The market is segmented by end user into military aircrafts, commercial aircrafts and general aviation, out of which, the commercial aircraft segment is anticipated to hold the largest market share during the forecast period owing to the growing number of orders of commercial aircrafts across the world, and rise in passenger air traffic. For instance, the air traffic in 2018 was calculated to be approximately 4.4 billion people. The number up to 4.6 billion in the following year. Additionally, increasing number of commercial planes is evaluated to drive growth to the market segment in the near future. Moreover, on the basis of aircraft type, the segment for fixed wing aircrafts is estimated to occupy the largest market share, which can be credited to its properties such as longer flight time and the ability to map linear or very large areas. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of regional analysis, the global aircraft APU market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America and Europe are anticipated to hold the leading shares in the market during the forecast period on the back of rising number of manufacturers of aircraft auxiliary power units as well as increasing implementation of noise control mandates at the airports by government authorities in these regions. Furthermore, Asia Pacific is projected to witness significant market growth over the upcoming years ascribing to the rising demand for auxiliary power units for military and commercial aircrafts. Additionally, growing population along with high productivity attained in the industry are expected to drive market growth in the region. In 2018, Asia’s total population was an estimated value of 4.57 billion people. The figure grew up to 4.65 billion by 2020.
The aircraft APU market is further classified on the basis of region as follows:
Our in-depth analysis of the aircraft APU market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The major growth drivers for the market are rising requirement for premium quality aircrafts and increasing demand for aircrafts globally.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2030.
Lack of effective battery technology for APUs is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities to the market owing to the increasing demand for auxiliary power units for military and commercial aircrafts.
The major players in the market are AEGIS Power Systems, Inc., JSC NPP Aerosila, Honeywell International Inc, JSC Technodinamika, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by aircraft type, product, end user, and by region.
The commercial aircraft segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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