Aircraft Auxiliary Power Unit Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
Aircraft auxiliary power unit is a device which deliver energy for many purposes except thrust force for engine. The principal function of the aircraft APU is providing power for starting the main engines of an aircraft. the smaller jet engines are usually given a preliminary propulsion with an electric motor, whereas larger engines are mostly propelled with the help of air turbine motor. Some of the major driver which fuels the aircraft auxiliary power unit market in the forecast period are the mounting air travel, fuel economy, and development of a quieter APU globally.
MARKET SCOPE
The "Global Aircraft Auxiliary Power Unit Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Aircraft Auxiliary Power Unit market with detailed market segmentation by Platform, Aircraft type, and geography. The global aircraft auxiliary power unit market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading aircraft auxiliary power unit market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of Platform, the market is segmented into Military Aircraft, and Commercial Aircraft.
- Based on Aircraft Type, the market is segmented into Fixed Wing, Rotary Wing, and UAV.
MARKET DYNAMICS
Drivers:
- mounting technological advancements in auxiliary power unit products
- requirement of additional power
- growing need for electric aircraft to expand its reach across various region
Restraint -
- Defense budget cuts and requirement of skilled workforce
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aircraft auxiliary power unit market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porters five force analysis highlighting factors factors effecting the aircraft auxiliary power unit market in these regions.
IMPACT OF COVID-19 ON AIRCRAFT AUXILIARY POWER UNIT MARKET
COVID-19 severely impacted the aviation industry by the end of 2021 as there were several travel bans and other lockdown-related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including aircraft auxiliary power unit manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, airlines have been focusing on reducing costs and expenses, including cutting back on MRO spending. Due to the long duration of parked aircraft, there will be an accelerated rate of aircraft retirements and more efficient and advanced aircraft deployment. Since more maintenance is required by aircraft as they age, the replacement of older aircraft by new ones is positively affecting the aircraft auxiliary power unit market.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aircraft auxiliary power unit market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porters five force analysis highlighting factors factors effecting the aircraft auxiliary power unit market in these regions.
IMPACT OF COVID-19 ON AIRCRAFT AUXILIARY POWER UNIT MARKET
COVID-19 severely impacted the aviation industry by the end of 2021 as there were several travel bans and other lockdown-related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including aircraft auxiliary power unit manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, airlines have been focusing on reducing costs and expenses, including cutting back on MRO spending. Due to the long duration of parked aircraft, there will be an accelerated rate of aircraft retirements and more efficient and advanced aircraft deployment. Since more maintenance is required by aircraft as they age, the replacement of older aircraft by new ones is positively affecting the aircraft auxiliary power unit market.
MARKET PLAYERS
The reports cover key developments in the Aircraft Auxiliary Power Unit market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from aircraft auxiliary power unit market are anticipated to lucrative growth opportunities in the future with the rising demand for Aircraft Auxiliary Power Unit market. Below mentioned is the list of few companies engaged in the aircraft auxiliary power unit market.
The report also includes the profiles of key aircraft auxiliary power unit market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Elbit Systems
- Raytheon Technologies
- Honeywell Inc.
- Technodinamika
- The Marvin Group
- Dewey Electronics Corporation
- START PAC
- Safran Power Units
- PBS Aerospace
- Lufthansa Technik
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aircraft Auxiliary Power Unit Market - By Platform
1.3.2 Aircraft Auxiliary Power Unit Market - By Aircraft Type
1.3.3 Aircraft Auxiliary Power Unit Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AIRCRAFT AUXILIARY POWER UNIT MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. AIRCRAFT AUXILIARY POWER UNIT MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. AIRCRAFT AUXILIARY POWER UNIT MARKET - GLOBAL MARKET ANALYSIS
6.1. AIRCRAFT AUXILIARY POWER UNIT - GLOBAL MARKET OVERVIEW
6.2. AIRCRAFT AUXILIARY POWER UNIT - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AIRCRAFT AUXILIARY POWER UNIT MARKET - REVENUE AND FORECASTS TO 2028 - PLATFORM
7.1. OVERVIEW
7.2. PLATFORM MARKET FORECASTS AND ANALYSIS
7.3. MILITARY AIRCRAFT
7.3.1. Overview
7.3.2. Military Aircraft Market Forecast and Analysis
7.4. COMMERCIAL AIRCRAFT
7.4.1. Overview
7.4.2. Commercial Aircraft Market Forecast and Analysis
8. AIRCRAFT AUXILIARY POWER UNIT MARKET - REVENUE AND FORECASTS TO 2028 - AIRCRAFT TYPE
8.1. OVERVIEW
8.2. AIRCRAFT TYPE MARKET FORECASTS AND ANALYSIS
8.3. FIXED WING
8.3.1. Overview
8.3.2. Fixed Wing Market Forecast and Analysis
8.4. ROTARY WING
8.4.1. Overview
8.4.2. Rotary Wing Market Forecast and Analysis
8.5. UAV
8.5.1. Overview
8.5.2. UAV Market Forecast and Analysis
9. AIRCRAFT AUXILIARY POWER UNIT MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aircraft Auxiliary Power Unit Market Overview
9.1.2 North America Aircraft Auxiliary Power Unit Market Forecasts and Analysis
9.1.3 North America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Platform
9.1.4 North America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Aircraft Type
9.1.5 North America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Countries
9.1.5.1 Canada Aircraft Auxiliary Power Unit Market
9.1.5.1.1 Canada Aircraft Auxiliary Power Unit Market by Platform
9.1.5.1.2 Canada Aircraft Auxiliary Power Unit Market by Aircraft Type
9.1.5.2 Mexico Aircraft Auxiliary Power Unit Market
9.1.5.2.1 Mexico Aircraft Auxiliary Power Unit Market by Platform
9.1.5.2.2 Mexico Aircraft Auxiliary Power Unit Market by Aircraft Type
9.1.5.3 US Aircraft Auxiliary Power Unit Market
9.1.5.3.1 US Aircraft Auxiliary Power Unit Market by Platform
9.1.5.3.2 US Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2. EUROPE
9.2.1 Europe Aircraft Auxiliary Power Unit Market Overview
9.2.2 Europe Aircraft Auxiliary Power Unit Market Forecasts and Analysis
9.2.3 Europe Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Platform
9.2.4 Europe Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Aircraft Type
9.2.5 Europe Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aircraft Auxiliary Power Unit Market
9.2.5.1.1 Germany Aircraft Auxiliary Power Unit Market by Platform
9.2.5.1.2 Germany Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.2 France Aircraft Auxiliary Power Unit Market
9.2.5.2.1 France Aircraft Auxiliary Power Unit Market by Platform
9.2.5.2.2 France Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.3 Italy Aircraft Auxiliary Power Unit Market
9.2.5.3.1 Italy Aircraft Auxiliary Power Unit Market by Platform
9.2.5.3.2 Italy Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.4 Spain Aircraft Auxiliary Power Unit Market
9.2.5.4.1 Spain Aircraft Auxiliary Power Unit Market by Platform
9.2.5.4.2 Spain Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.5 United Kingdom Aircraft Auxiliary Power Unit Market
9.2.5.5.1 United Kingdom Aircraft Auxiliary Power Unit Market by Platform
9.2.5.5.2 United Kingdom Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.6 Russia Aircraft Auxiliary Power Unit Market
9.2.5.6.1 Russia Aircraft Auxiliary Power Unit Market by Platform
9.2.5.6.2 Russia Aircraft Auxiliary Power Unit Market by Aircraft Type
9.2.5.7 Rest of Europe Aircraft Auxiliary Power Unit Market
9.2.5.7.1 Rest of Europe Aircraft Auxiliary Power Unit Market by Platform
9.2.5.7.2 Rest of Europe Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aircraft Auxiliary Power Unit Market Overview
9.3.2 Asia-Pacific Aircraft Auxiliary Power Unit Market Forecasts and Analysis
9.3.3 Asia-Pacific Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Platform
9.3.4 Asia-Pacific Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Aircraft Type
9.3.5 Asia-Pacific Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aircraft Auxiliary Power Unit Market
9.3.5.1.1 Australia Aircraft Auxiliary Power Unit Market by Platform
9.3.5.1.2 Australia Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3.5.2 China Aircraft Auxiliary Power Unit Market
9.3.5.2.1 China Aircraft Auxiliary Power Unit Market by Platform
9.3.5.2.2 China Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3.5.3 India Aircraft Auxiliary Power Unit Market
9.3.5.3.1 India Aircraft Auxiliary Power Unit Market by Platform
9.3.5.3.2 India Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3.5.4 Japan Aircraft Auxiliary Power Unit Market
9.3.5.4.1 Japan Aircraft Auxiliary Power Unit Market by Platform
9.3.5.4.2 Japan Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3.5.5 South Korea Aircraft Auxiliary Power Unit Market
9.3.5.5.1 South Korea Aircraft Auxiliary Power Unit Market by Platform
9.3.5.5.2 South Korea Aircraft Auxiliary Power Unit Market by Aircraft Type
9.3.5.6 Rest of Asia-Pacific Aircraft Auxiliary Power Unit Market
9.3.5.6.1 Rest of Asia-Pacific Aircraft Auxiliary Power Unit Market by Platform
9.3.5.6.2 Rest of Asia-Pacific Aircraft Auxiliary Power Unit Market by Aircraft Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aircraft Auxiliary Power Unit Market Overview
9.4.2 Middle East and Africa Aircraft Auxiliary Power Unit Market Forecasts and Analysis
9.4.3 Middle East and Africa Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Platform
9.4.4 Middle East and Africa Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Aircraft Type
9.4.5 Middle East and Africa Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aircraft Auxiliary Power Unit Market
9.4.5.1.1 South Africa Aircraft Auxiliary Power Unit Market by Platform
9.4.5.1.2 South Africa Aircraft Auxiliary Power Unit Market by Aircraft Type
9.4.5.2 Saudi Arabia Aircraft Auxiliary Power Unit Market
9.4.5.2.1 Saudi Arabia Aircraft Auxiliary Power Unit Market by Platform
9.4.5.2.2 Saudi Arabia Aircraft Auxiliary Power Unit Market by Aircraft Type
9.4.5.3 U.A.E Aircraft Auxiliary Power Unit Market
9.4.5.3.1 U.A.E Aircraft Auxiliary Power Unit Market by Platform
9.4.5.3.2 U.A.E Aircraft Auxiliary Power Unit Market by Aircraft Type
9.4.5.4 Rest of Middle East and Africa Aircraft Auxiliary Power Unit Market
9.4.5.4.1 Rest of Middle East and Africa Aircraft Auxiliary Power Unit Market by Platform
9.4.5.4.2 Rest of Middle East and Africa Aircraft Auxiliary Power Unit Market by Aircraft Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aircraft Auxiliary Power Unit Market Overview
9.5.2 South and Central America Aircraft Auxiliary Power Unit Market Forecasts and Analysis
9.5.3 South and Central America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Platform
9.5.4 South and Central America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Aircraft Type
9.5.5 South and Central America Aircraft Auxiliary Power Unit Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aircraft Auxiliary Power Unit Market
9.5.5.1.1 Brazil Aircraft Auxiliary Power Unit Market by Platform
9.5.5.1.2 Brazil Aircraft Auxiliary Power Unit Market by Aircraft Type
9.5.5.2 Argentina Aircraft Auxiliary Power Unit Market
9.5.5.2.1 Argentina Aircraft Auxiliary Power Unit Market by Platform
9.5.5.2.2 Argentina Aircraft Auxiliary Power Unit Market by Aircraft Type
9.5.5.3 Rest of South and Central America Aircraft Auxiliary Power Unit Market
9.5.5.3.1 Rest of South and Central America Aircraft Auxiliary Power Unit Market by Platform
9.5.5.3.2 Rest of South and Central America Aircraft Auxiliary Power Unit Market by Aircraft Type
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. AIRCRAFT AUXILIARY POWER UNIT MARKET, KEY COMPANY PROFILES
11.1. ELBIT SYSTEMS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. RAYTHEON TECHNOLOGIES
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HONEYWELL INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. TECHNODINAMIKA
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. THE MARVIN GROUP
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DEWEY ELECTRONICS CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. START PAC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SAFRAN POWER UNITS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. PBS AEROSPACE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. LUFTHANSA TECHNIK
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Elbit Systems
2. Raytheon Technologies
3. Honeywell Inc.
4. Technodinamika
5. The Marvin Group
6. Dewey Electronics Corporation
7. START PAC
8. Safran Power Units
9. PBS Aerospace
10. Lufthansa Technik
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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