Aircraft Environmental Control Systems Market Trends and Outlook, Tracking the Latest Updates by 2030
Market Overview:
Aircraft Environmental Control Systems Market was valued at USD 3.2 billion in 2022. The aircraft environmental control systems market industry is projected to grow from USD 3.3 billion in 2023 to USD 4.3 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.34% during the forecast period (2023 - 2030).
The global aircraft environmental control systems market is exhibited to touch the valuation of USD 4506 million in 2023. It was estimated at USD 3460 Million in 2017. It is set to expand at an outstanding CAGR of 4.50% from (forecast period), with the growing air traffic resulting in the augmentation of aircraft deliveries.
In addition, rapid technological advancements in the field are bound to fuel the growth of aircraft environmental control systems market insight in the coming years. On the flip side, the existing backlogs in aircraft deliveries could prove to be a threat to the market growth in the foreseeable future.
However, factors such as increasing production of commercial aircrafts, like B787, B737, A350 and A320, the emergence of upcoming aircraft like C919 and E-2 jets and growing electric content in aircraft are striving to uplift the market position of aircraft environmental control systems at a global platform. The combination of these factors is set to offer a vast opportunity to the market, putting in motion the development of the market in the future.
Segmental Analysis:
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.
Key Players:
The key players of aircraft environmental control systems key market players are Liebherr-International AG (Switzerland),Honeywell International (U.S.),Jormac Aerospace (U.S.),Mecaer Aviation Group (Italy),Fimac Spa (Italy),United Technologies Corporation (U.S.)
Regional Analysis:
Region-wise, the global aircraft environmental control systems market industry is thriving across the five main regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa, and Latin America.
Among these, the region of North America claims the largest share of the global Aircraft Environmental Control Systems Market, backed by strong demand for single-aisle aircraft, as single-aisle aircraft are fuel-efficient, in addition to being equipped with the new technology which is based on the More Electric Architecture (MEA). Going forward, Asia Pacific is the fastest growing region in the global market, with Europe and Latin America touted to be important markets in the global market. The key factor fuelling the market growth in the regions is the rapidly increasing air passenger traffic.
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