Aircraft and Marine Turbochargers Market Size, Share, Growth Analysis, By Component(Compressor, Shaft, and Turbine), By Platform(Aircraft, Marine, and UAVs), By Technology(Electro-Assist Turbo, Single Turbo, Twin Turbo, and Variable-Geometry Turbo), By Applications(Radar Antenna, Instrument Landing System (ILS), Terminal Wireless Local Area Network (TW-LAN), Air Traffic Control / Traffic Collision Avoidance Systems (ATC/TCAS)), By Region - Industry Forecast 2024-2031

Global Aircraft and Marine Turbochargers Market size was valued at USD 0.286 Billion in 2022 and is poised to grow from USD 0.29 Billion in 2023 to USD 0.33 Billion by 2031, growing at a CAGR of 1.48% in the forecast period (2024-2031).

Turbochargers play an important role in all aircraft engines. When an aircraft is at high altitude, the surrounding air can lose pressure quickly. During that time, the turbochargers compress the air back to normal pressure in a fraction of a second. Additionally, this process is called turbo-normalization or pressure boosting, also known as turbocharging, so the engine is able to produce rated power at a higher altitude and consequently this characteristic is important in aircraft propulsion. However, turbochargers are used in large ships and cruise ship engines to increase engine power and power-to-weight ratio.

Growth in shipbuilding and increase in commercial activities at sea will boost marine turbocharger market share during the forecast period. The increasing demand for the product can be attributed to a variety of factors, including increased energy efficiency and lower emissions. The use of new generation electric boats is expected to increase with increasing economic growth and higher consumer spending.

The adoption of the product will help by increasing shipbuilders’ requirements for higher efficiency engine turbochargers to meet EEDI targets and IMO standards. Advanced marine turbochargers are increasingly important as they provide performance an increase with higher pressure coefficients and reduce environmental impact. Also, strong military growth will encourage deployment of military vessels, boosting the marine turbocharger industry's growth. Furthermore, advanced tools such as ANSYS and FEA methods provide different development options in turbochargers, allowing for later modifications.