Aircraft Heat Exchanger Market Growth Report | 2021 to 2031
The Aircraft Heat Exchanger Market size is projected to reach US$ 3.54 billion by 2031 from US$ 1.97 billion in 2023. The market is expected to register a CAGR of 7.6% in 2023–2031. The global aircraft manufacturing industry is possessed with a large number of well-established companies across the globe wherein the bargaining power of buyers is estimated to grow to a high level in the coming years. Due to the presence of a large number of heat exchanger suppliers in the market, the aircraft manufacturers have several options to choose the best manufacturer which provide higher quality products, better customer service, and lower prices.
Aircraft Heat Exchanger Market Analysis
The demand for the aircraft heat exchanger is surging among the aircraft manufacturers and airlines. The designers of the aircraft heat exchanger are spending enormous amounts in the development of advanced technology such as additive manufacturing to ease the process of designing. This factor is attracting the customers of heat exchangers designers, manufacturers, and suppliers. The airlines procure the aircraft heat exchanger through OEMs. Also, aircraft manufacturers such as Boeing, and Airbus, among others, convince their customers to integrate new aircraft with advanced products. This also facilitates the aircraft heat exchanger market to surge.
Aircraft Heat Exchanger Market Overview
Aircraft heat exchanger market is likely to witness a robust growth in the coming years. The growth of market is attributed to soe of the below factors:
- Increasing Commercial Aircraft Fleet Across Different Regions
- Rising Procurement of Military Aircraft
- Emerging Need for Effective Cooling & Heating in Commercial Aircraft for Enhanced Aircraft Operations
These factors are likely to show significant impact in terms of positive growth of the aircraft heat exchanger market. The need for effective heat & cooling management is another major factor generating the demand for new installation of heat exchangers in the new aircraft and existing aircraft fleet of various commercial airlines. Further, the rising procurement and orders of military aircraft is another major factor catalyzing the adoption of heat exchangers for military aircraft as well.
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Aircraft Heat Exchanger Market: Strategic Insights
Market Size Value in US$ 1,506.8 Million in 2019 Market Size Value by US$ 2,536.0 Million by 2027 Growth rate CAGR of 6.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Aircraft Heat Exchanger Market: Strategic Insights
| Market Size Value in | US$ 1,506.8 Million in 2019 |
| Market Size Value by | US$ 2,536.0 Million by 2027 |
| Growth rate | CAGR of 6.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Aircraft Heat Exchanger Market Drivers and Opportunities
Increasing Commercial Aircraft Fleet Across Different Regions
The rising demand for new aircraft from the operating airlines across different regions is one of the major factors pushing the global aircraft fleet size worldwide. In 2023, the global commercial aircraft fleet size was around 27,385 aircraft that further reached to 28,398 commercial aircraft in 2024. Such rise in fleet has driven the demand for aircraft heat exchanger across different regions. Moreover, the upcoming deliveries as per the Airbus and Boeing data (i.e., more than 40,000 aircraft are expected to be delivered during 2023 to 2042) is also likely to drive the market for aircraft heat exchangers in the coming years as well.
Deployment of Military UAVs to Provide Future Opportunities
The rising number of UAV deployments across the armed forces of different countries is one of the major factors likely to generate new opportunities for new installations of heat exchangers in the UAV segment. Further, this is also supported by the rising military expenditure across different countries worldwide that are spending more expenses for the procurement of military UAVs. Such factors are likely to generate new opportunities for aircraft heat exchangers market in the coming years.
Aircraft Heat Exchanger Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Aircraft Heat Exchanger Market analysis are type, type of aircraft, application, type of manufacturing, and geography.
- Based on type, the market has been categorized into flat tube and plate-fin. The plate-fin segment held a larger market share in 2023.
- By type of aircraft, the market has been segmented into fixed-wing aircraft, rotary-wing aircraft, and UAVs. The fixed-wing aircraft segment held the largest share of the market in 2023.
- In terms of application, the market has been segmented into engine and airframe. The engine segment dominated the market in 2023.
- In terms of type of manufacturing, the market has been segmented into conventional type and additive manufacturing type. The conventional type segment dominated the market in 2023.
Aircraft Heat Exchanger Market Share Analysis by Geography
The geographic scope of the Aircraft Heat Exchanger Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aircraft Heat Exchanger Market in 2023, whereas, Asia Pacific region is likely to witness a significant growth during the forecast period. The North American region includes the US, Canada, and Mexico. The US dominated the North American aircraft heat exchanger market in 2023. This is mainly due to the rising air passenger traffic and increasing aircraft fleet size across the country. Further, the future aircraft deliveries in the coming twenty years will also generate new opportunities for the market vendors in the North America region. For instance, according to the Airbus Global Market Forecast report, more than 6,970 commercial aircraft are expected to be delivered during 2023-2042. This will generate new demand for aircraft heat exchanger in the coming years.
Aircraft Heat Exchanger Market Report Scope
Aircraft Heat Exchanger Market News and Recent Developments
The Aircraft Heat Exchanger Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft heat exchanger market and strategies:
- In June 2023, Safran Aero Boosters launched HIPEX, a new range of high-performance heat exchangers based on a revolutionary aerodynamic design, at the Paris Air Show. (Source: Safran Group, Press Release/Company Website/Newsletter)
- In May 2023, AMETEK MRO AEM, a leading provider of aviation maintenance, repair, and overhaul (MRO) services, has expanded heat exchanger capabilities at its Ramsgate facility in the UK. (Source: AMETEK, Press Release/Company Website/Newsletter)
Aircraft Heat Exchanger Market Report Coverage and Deliverables
The “Aircraft Heat Exchanger Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Type of Aircraft ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
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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