Aircraft Engine Compressor Market Share and Growth (2021-2031)
The Aircraft Engine Compressor Market is expected to register a CAGR of 6.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Engine Type (Turbofan, Turbojet, Turboshaft); Application (Commercial Aircraft, Regional Aircraft, General Aviation, Military Aircraft); Fit Type (Line Fit, Retrofit). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Aircraft Engine Compressor Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aircraft Engine Compressor Market Segmentation
Engine Type- Turbofan
- Turbojet
- Turboshaft
- Commercial Aircraft
- Regional Aircraft
- General Aviation
- Military Aircraft
- Line Fit
- Retrofit
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Aircraft Engine Compressor Market Growth Drivers- Increasing Demand for Fuel-Efficient and High-Performance Aircraft: One of the primary drivers for the aircraft engine compressor market is the growing demand for fuel-efficient and high-performance aircraft. The aviation industry has made significant strides in developing engines that offer better fuel efficiency, lower emissions, and higher overall performance. Engine compressors play a pivotal role in this process by efficiently compressing incoming air, which is essential for enhancing engine performance. As manufacturers continue to focus on reducing fuel consumption and operational costs, the demand for advanced compressor systems that optimize engine efficiency is increasing. Airlines and military operators alike are investing in modern aircraft engines, driving growth in the compressor market.
- Advancements in Materials and Technology for Engine Efficiency: The continual advancements in materials science and manufacturing technologies are also driving the aircraft engine compressor market. New materials such as advanced alloys, composites, and coatings are being used to enhance the performance, weight, and durability of compressors. For example, materials that can withstand high temperatures and pressures are essential for improving compressor efficiency and ensuring that engines operate reliably over extended periods. Innovations in turbine technology, blade coatings, and manufacturing techniques like additive manufacturing (3D printing) are helping reduce compressor weight, which in turn enhances engine fuel efficiency and overall performance.
- Global Growth in Air Travel and Aircraft Fleet Expansion: The global expansion of air travel, particularly in emerging markets in Asia-Pacific, Latin America, and the Middle East, is contributing to a significant increase in the number of commercial aircraft in service. This expansion directly drives demand for new engines and compressors to power these aircraft. Airlines are investing in more fuel-efficient fleets, which requires cutting-edge engine compressors that can deliver improved efficiency, reliability, and performance. Additionally, military aircraft fleets also demand advanced compressors for high-performance engines, further fueling the market.
- Integration of Advanced Manufacturing Technologies: One of the key trends in the aircraft engine compressor market is the increasing use of advanced manufacturing technologies, particularly additive manufacturing (3D printing) and advanced casting techniques. These technologies allow for the creation of more complex, lightweight, and efficient compressor components that were previously difficult or impossible to manufacture using traditional methods. Additive manufacturing enables the creation of intricate geometries that optimize airflow and reduce weight, which are crucial for improving engine performance and efficiency. As these technologies become more widespread, they provide a competitive edge to manufacturers who can develop advanced compressor components that meet the growing demands for high-performance, lightweight, and cost-effective solutions.
- Digitalization and Predictive Maintenance in Compressor Systems: Another growing trend is the integration of digitalization and predictive maintenance systems in aircraft engine compressors. With the increasing use of Internet of Things (IoT) technologies and sensors, compressors can be equipped with monitoring systems that collect real-time data on their performance, health, and wear. This data can then be analyzed to predict maintenance needs, optimize performance, and reduce unplanned downtime. Predictive maintenance systems help improve the reliability of aircraft engines and reduce maintenance costs by enabling proactive rather than reactive maintenance. The trend towards more intelligent, data-driven maintenance for compressors is transforming the way airlines and MRO providers manage engine health.
- Shift Towards Sustainable Aviation Fuels (SAFs) and Eco-Friendly Engines: The growing focus on sustainability and the adoption of sustainable aviation fuels (SAFs) present new opportunities for the aircraft engine compressor market. SAFs, which are produced from renewable sources, are gaining traction as a more environmentally friendly alternative to traditional jet fuels. As SAF adoption increases, aircraft engine compressors will need to be adapted to handle the unique properties of these fuels, requiring enhancements in compressor design and materials. The push for eco-friendly engines that produce fewer emissions provides an opportunity for compressor manufacturers to develop systems that can operate at higher efficiencies, which would be necessary for achieving reduced carbon footprints.
- Increased Investment in Engine Upgrades and Overhaul Services: As the global fleet of aircraft continues to age, there is an increasing need for engine upgrades and overhaul services. Compressor systems, as integral parts of the engine, often require repair, replacement, or upgrading during engine overhauls. The maintenance, repair, and overhaul (MRO) sector for aircraft engines, including compressors, offers substantial opportunities for companies providing spare parts, high-performance compressors, and innovative technologies for existing engines. Manufacturers of compressor systems can tap into this growing demand for MRO services, offering replacement compressors and specialized maintenance solutions to meet the needs of older and current-generation aircraft.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aircraft Engine Compressor Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aircraft Engine Compressor Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- 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.
Frequently Asked Questions
The Aircraft Engine Compressor Market is estimated to witness a CAGR of 6.2% from 2023 to 2031
The major factors driving the aircraft engine compressor market are:
1. Demand for Deliveries of Commercial and Civil Aircraft
2. Increasing Procurements of Military Aircraft
Some of the major trends driving the aircraft engine compressor market are:
1. Increasing Demand from Chartered Aircraft
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Aircraft Engine Compressor Market - By Engine Type
1.3.2 Aircraft Engine Compressor Market - By Application
1.3.3 Aircraft Engine Compressor Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. AIRCRAFT ENGINE COMPRESSOR 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 ENGINE COMPRESSOR 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 ENGINE COMPRESSOR MARKET - GLOBAL MARKET ANALYSIS
6.1. AIRCRAFT ENGINE COMPRESSOR - GLOBAL MARKET OVERVIEW
6.2. AIRCRAFT ENGINE COMPRESSOR - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. AIRCRAFT ENGINE COMPRESSOR MARKET - REVENUE AND FORECASTS TO 2028 - ENGINE TYPE
7.1. OVERVIEW
7.2. ENGINE TYPE MARKET FORECASTS AND ANALYSIS
7.3. TURBOFAN
7.3.1. Overview
7.3.2. Turbofan Market Forecast and Analysis
7.4. TURBOJET
7.4.1. Overview
7.4.2. Turbojet Market Forecast and Analysis
7.5. TURBOSHAFT
7.5.1. Overview
7.5.2. Turboshaft Market Forecast and Analysis
8. AIRCRAFT ENGINE COMPRESSOR MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. COMMERCIAL AIRCRAFT
8.3.1. Overview
8.3.2. Commercial Aircraft Market Forecast and Analysis
8.4. BUSINESS AIRCRAFT
8.4.1. Overview
8.4.2. Business Aircraft Market Forecast and Analysis
8.5. MILITARY AIRCRAFT
8.5.1. Overview
8.5.2. Military Aircraft Market Forecast and Analysis
9. AIRCRAFT ENGINE COMPRESSOR MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Aircraft Engine Compressor Market Overview
9.1.2 North America Aircraft Engine Compressor Market Forecasts and Analysis
9.1.3 North America Aircraft Engine Compressor Market Forecasts and Analysis - By Engine Type
9.1.4 North America Aircraft Engine Compressor Market Forecasts and Analysis - By Application
9.1.5 North America Aircraft Engine Compressor Market Forecasts and Analysis - By Countries
9.1.5.1 United States Aircraft Engine Compressor Market
9.1.5.1.1 United States Aircraft Engine Compressor Market by Engine Type
9.1.5.1.2 United States Aircraft Engine Compressor Market by Application
9.1.5.2 Canada Aircraft Engine Compressor Market
9.1.5.2.1 Canada Aircraft Engine Compressor Market by Engine Type
9.1.5.2.2 Canada Aircraft Engine Compressor Market by Application
9.1.5.3 Mexico Aircraft Engine Compressor Market
9.1.5.3.1 Mexico Aircraft Engine Compressor Market by Engine Type
9.1.5.3.2 Mexico Aircraft Engine Compressor Market by Application
9.2. EUROPE
9.2.1 Europe Aircraft Engine Compressor Market Overview
9.2.2 Europe Aircraft Engine Compressor Market Forecasts and Analysis
9.2.3 Europe Aircraft Engine Compressor Market Forecasts and Analysis - By Engine Type
9.2.4 Europe Aircraft Engine Compressor Market Forecasts and Analysis - By Application
9.2.5 Europe Aircraft Engine Compressor Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Aircraft Engine Compressor Market
9.2.5.1.1 Germany Aircraft Engine Compressor Market by Engine Type
9.2.5.1.2 Germany Aircraft Engine Compressor Market by Application
9.2.5.2 France Aircraft Engine Compressor Market
9.2.5.2.1 France Aircraft Engine Compressor Market by Engine Type
9.2.5.2.2 France Aircraft Engine Compressor Market by Application
9.2.5.3 Italy Aircraft Engine Compressor Market
9.2.5.3.1 Italy Aircraft Engine Compressor Market by Engine Type
9.2.5.3.2 Italy Aircraft Engine Compressor Market by Application
9.2.5.4 United Kingdom Aircraft Engine Compressor Market
9.2.5.4.1 United Kingdom Aircraft Engine Compressor Market by Engine Type
9.2.5.4.2 United Kingdom Aircraft Engine Compressor Market by Application
9.2.5.5 Rest of Europe Aircraft Engine Compressor Market
9.2.5.5.1 Rest of Europe Aircraft Engine Compressor Market by Engine Type
9.2.5.5.2 Rest of Europe Aircraft Engine Compressor Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Aircraft Engine Compressor Market Overview
9.3.2 Asia-Pacific Aircraft Engine Compressor Market Forecasts and Analysis
9.3.3 Asia-Pacific Aircraft Engine Compressor Market Forecasts and Analysis - By Engine Type
9.3.4 Asia-Pacific Aircraft Engine Compressor Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Aircraft Engine Compressor Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Aircraft Engine Compressor Market
9.3.5.1.1 Australia Aircraft Engine Compressor Market by Engine Type
9.3.5.1.2 Australia Aircraft Engine Compressor Market by Application
9.3.5.2 China Aircraft Engine Compressor Market
9.3.5.2.1 China Aircraft Engine Compressor Market by Engine Type
9.3.5.2.2 China Aircraft Engine Compressor Market by Application
9.3.5.3 India Aircraft Engine Compressor Market
9.3.5.3.1 India Aircraft Engine Compressor Market by Engine Type
9.3.5.3.2 India Aircraft Engine Compressor Market by Application
9.3.5.4 Japan Aircraft Engine Compressor Market
9.3.5.4.1 Japan Aircraft Engine Compressor Market by Engine Type
9.3.5.4.2 Japan Aircraft Engine Compressor Market by Application
9.3.5.5 South Korea Aircraft Engine Compressor Market
9.3.5.5.1 South Korea Aircraft Engine Compressor Market by Engine Type
9.3.5.5.2 South Korea Aircraft Engine Compressor Market by Application
9.3.5.6 Rest of Asia-Pacific Aircraft Engine Compressor Market
9.3.5.6.1 Rest of Asia-Pacific Aircraft Engine Compressor Market by Engine Type
9.3.5.6.2 Rest of Asia-Pacific Aircraft Engine Compressor Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Aircraft Engine Compressor Market Overview
9.4.2 Middle East and Africa Aircraft Engine Compressor Market Forecasts and Analysis
9.4.3 Middle East and Africa Aircraft Engine Compressor Market Forecasts and Analysis - By Engine Type
9.4.4 Middle East and Africa Aircraft Engine Compressor Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Aircraft Engine Compressor Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Aircraft Engine Compressor Market
9.4.5.1.1 South Africa Aircraft Engine Compressor Market by Engine Type
9.4.5.1.2 South Africa Aircraft Engine Compressor Market by Application
9.4.5.2 Saudi Arabia Aircraft Engine Compressor Market
9.4.5.2.1 Saudi Arabia Aircraft Engine Compressor Market by Engine Type
9.4.5.2.2 Saudi Arabia Aircraft Engine Compressor Market by Application
9.4.5.3 U.A.E Aircraft Engine Compressor Market
9.4.5.3.1 U.A.E Aircraft Engine Compressor Market by Engine Type
9.4.5.3.2 U.A.E Aircraft Engine Compressor Market by Application
9.4.5.4 Rest of Middle East and Africa Aircraft Engine Compressor Market
9.4.5.4.1 Rest of Middle East and Africa Aircraft Engine Compressor Market by Engine Type
9.4.5.4.2 Rest of Middle East and Africa Aircraft Engine Compressor Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Aircraft Engine Compressor Market Overview
9.5.2 South and Central America Aircraft Engine Compressor Market Forecasts and Analysis
9.5.3 South and Central America Aircraft Engine Compressor Market Forecasts and Analysis - By Engine Type
9.5.4 South and Central America Aircraft Engine Compressor Market Forecasts and Analysis - By Application
9.5.5 South and Central America Aircraft Engine Compressor Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Aircraft Engine Compressor Market
9.5.5.1.1 Brazil Aircraft Engine Compressor Market by Engine Type
9.5.5.1.2 Brazil Aircraft Engine Compressor Market by Application
9.5.5.2 Rest of South and Central America Aircraft Engine Compressor Market
9.5.5.2.1 Rest of South and Central America Aircraft Engine Compressor Market by Engine Type
9.5.5.2.2 Rest of South and Central America Aircraft Engine Compressor Market by Application
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 ENGINE COMPRESSOR MARKET, KEY COMPANY PROFILES
11.1. BHARAT FORGE
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. CFM INTERNATIONAL
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. GE AVIATION
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. HONEYWELL INTERNATIONAL INC.
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. MELROSE INDUSTRIES PLC
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. MTU AERO ENGINES AG
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. ROLLS-ROYCE HOLDINGS PLC.
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 SA
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. TURBOCAM INC.
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. COLLINS AEROSPACE
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. Bharat Forge
2. CFM International
3. GE Aviation
4. Honeywell International Inc.
5. Melrose Industries Plc
6. MTU Aero Engines AG
7. Rolls-Royce Holdings Plc.
8. Safran SA
9. Turbocam Inc.
10. Collins Aerospace
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.
Get Free Sample For