USD 1.01 billion
Report ID:
SQMIG20S2018 |
Region:
Global |
Published Date: April, 2024
Pages:
202
|Tables:
153
|Figures:
76
Global Aircraft Exhaust System Market size was valued at USD 1.01 billion in 2022 and is poised to grow from USD 1.09 billion in 2023 to USD 2.04 billion by 2031, at a CAGR of 8.13% during the forecast period (2024-2031).
The rapid increase in air passengers and the strong demand for new aircrafts are two factors that propels the development of the aircraft exhaust system market.
Secondly, the market share for aircraft exhausts also receives a boost in demand for lightweight energy efficient and reduced gas emissions aircraft. The development of 3D printing technology for the fabrication of exhaust systems as well as their use in system improvement and advancement also stimulate industrial growth.
On the other hand, high installation and operating costs are likely to constrain global aircraft exhaust system markets. There is a backlog of new aircraft deliveries, and regulators & laws about safety and maintenance of the aircrafts. All these factors are taking their toll on market growth in the aviation wearable Exhaust System.
Their exhaust systems increase the efficiency of aircraft fuel, so they increase the productivity and total effectiveness of aircraft. These systems carry off toxic emissions from the engine and fuselage to protect the aircraft and its passengers. Besides governments and major firms are enacting programs, so that the technological upgrade of aircraft exhaust systems is another significant factor contributing to market revenue growth.
For instance, the development of the next-generation combat aircraft is currently being developed. These efforts include enhancing stealth aircraft and fighter plane designs to give exhaustible heat minimization and passive sensors installation to lower electromagnetic (EM) emissions.
Likewise, the Defence Advanced Research Projects Agency (DARPA) of the United States is researching Active Flow Control (AFC) as part of its X-Plane Control of Revolutionary Aircraft with Novel Effectors (CRANE) Programme.
Global Market Size
USD 1.01 billion
Largest Segment
Exhaust Nozzle
Fastest Growth
Exhaust Nozzle
Growth Rate
8.13% CAGR
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Global aircraft exhaust system market is segmented based on component, system, mechanism, end user, aviation type, and region. By component, the market is segmented into exhaust pipe, auxiliary power unit exhaust liner, auxiliary power unit exhaust tube, exhaust cone, turbo charger, and exhaust nozzle. By system, the market is segmented into auxiliary power unit exhaust engine, piston engine, and engine exhaust system. The piston engine is further subdivided into a short stack system and collector system. The engine exhaust system is further divided into turbofan, turboprop, turboshaft and reciprocating (piston based). By mechanism the market is segmented into hydraulic and manual. By end user, the market is segmented into original equipment manufacturer (OEM), and maintenance, repair & overhaul (MRO). By aviation type, the market is segmented into commercial aviation, military aviation, business aviation, and others (private and cargo). By Region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Component
In 2022, the exhaust nozzle accounted for the largest market share in the global aircraft exhaust market. Based on SkyQuest analysis, we found that the reasons for its leading position are that it ensures that aren't constantly coming down from well powered cruises to thrash along at low enough speeds to squeeze through an overhead pier when they need in this case, the significance of the exhaust nozzle is not just its ability to generate thrust but also that it can help reduce noise reduction being a must in modern aviation.
Sturdiness and corrosion resistance are among the key features that underpin the revenue share of the exhaust nozzle segment. Such longevity is particularly important because exhaust nozzles are exposed to the high temperatures generated by engine operation. These nozzles are made of inconel, stainless-steel alloys and titanium. They can withstand the harshest operating conditions. Inconel, a nickel-chromium alloy, is also used more than any other material in the manufacture of exhaust nozzles. It is chosen for its capability to endure the severe thermal and mechanical stresses that exist in aviation applications.
Our analysis also reveals that the turbochargers segment will show a relatively rapid growth rate in terms of revenue in the global aircraft exhaust system market. The reason behind this growth trend is that turbochargers can increase thrust and speed by burning more fuel and compressing incoming air. In the longer run, turbochargers also make aircraft engines more efficient, lighter in weight and capable of operating at higher altitudes. These improvements lead to increased speed of flight.
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The Asia-Pacific region is expected to register the highest demand for this aircraft exhaust systems market over the forecast period. The rising orders for new aircraft, stoked by the ever-increasing passenger traffic in the region, is behind the demand. IATA forecasts the Boeing 757 to become the first long-distance turbine aircraft. China will eventually become the world's largest aviation market in around a decade, by the mid-2020s. The Ministry of Aviation (India) indicates that by 2030 there will be 80-90 new airports, of which heliports and water aerodromes will account for a number. These include the ones being actively designed and built under central or state government banners at places such as Greenfield sites, etc., with small sized airfields So it was the huge market that encouraged aircraft OEMs to hatch strategic expansion plans that would further penetrate this region.
Moreover, the Asian-Pacific region had the second highest military investment in the world. The turbulent geopolitical environment arising in the area has led to all countries simultaneously embarking on programs for modernizing navy fleets which are meant to bolster a country's air defense. One such example is China's planned defense outlays for 2023, which zoomed up to US $ 225 billion. This represents a 7.2 % increase over the previous year and marks the eighth consecutive year of rising military expenditures since its first published figures in 1999. Thus, India also submitted USD 72.6 billion in defense expenditure for the 2023-4 financial year (FY), an increase of 13 % from initial estimates for the FAST period. In an effort to increase the number of fighter jets it has on hand; it is looking at increasing the size of its fighter fleet. These developments will provide a significant growth impetus to the aircraft exhaust systems market over the forecast period.
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Drivers
Rising Investment in R&D is expected to drive the market growth
Restraints
High maintenance costs may stymie the market growth
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The aircraft exhaust systems market is dominated by a small number of important vendors that compete at the international level. This is a highly competitive market, and the players compete to have the largest share. Design constraints on the design of aircraft exhaust systems, and cancellation of aircraft orders for reasons involving the macroeconomic environment, restrict market growth. In a fiercely competitive market environment, vendors must offer advanced systems to the aircraft OEMs in order to survive. Leading market players are GKN Aerospace (Melrose Industries PLC), Triumph Group Inc., Magellan Aerospace Corp., Rolls-Royce plc and Esterline Technologies Corporation (Transdigm Group Inc.). The players compete mostly through in-house manufacturing, global footprint networks and a stable product portfolio. They also invest heavily in R & D. In addition to that their customer base is relatively large and strong as well. In addition, due to the rapid increase in air passenger traffic, aircraft procurement rate also increased rapidly and this is another driving force for market development throughout the forecast period. Because of the extension and technological developments, competition in the market will become even more intense. For example, in March 2023 Power Flow Systems is celebrating the delivery of their 6500th system since their fist tuned exhaust system back in 1999. The company also expanded its Daytona Beach and Florida branch production facility, as well as the workforce.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types of teams that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global aircraft exhaust system market analyses, the market's development reflects the organic growth of the aviation industry. During the forecast period a lot of aircraft deliveries are expected to take place. The players of the aviation industry are seriously developing new aircraft propulsion technologies to improve performance characteristics for newer-generation aircraft.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 1.01 billion |
Market size value in 2031 | USD 2.04 billion |
Growth Rate | 8.13% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Aircraft Exhaust System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Aircraft Exhaust System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Aircraft Exhaust System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Aircraft Exhaust System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Report ID: SQMIG20S2018