The “Aircraft Heat Exchanger Market by Application (Environmental Control System and Engine System), Type (Plate-fin, Flat Tube), Vendor (OEM, Aftermarket), Platform (Fixed-Wing Aircraft, Rotary-Wing Aircraft, and UAVs) & Region – Global Forecast to 2022” report has been added to ResearchAndMarkets.com’s offering.
The aircraft heat exchanger market is projected to grow from USD 1.19 Billion in 2017 to USD 1.64 Billion by 2022, at a CAGR of 6.73% during the forecast period. This growth is primarily driven by the increasing use of heat exchangers in unmanned aerial vehicles and rising commercial aircraft deliveries.
The aircraft heat exchanger market has been segmented on the basis of type, platform, application, vendor, and region. Based on application, the aircraft heat exchanger market has been classified into environmental control system and engine system. Environmental control systems use heat exchangers to maintain cabin pressurization. This, in turn, is projected to drive the growth of the environmental control system segment of the aircraft heat exchanger market. Moreover, the increase in the production of commercial and business aircraft is influencing the growth of the market for aircraft heat exchanger system components.
Based on vendor, the aircraft heat exchanger market has been segmented into OEM and aftermarket. The aftermarket segment is expected to grow at a higher CAGR as compared to the OEM segment during the forecast period. Heat exchangers are considered as critical components of aircraft engines, which require timely service and maintenance. This, in turn, is projected to drive the demand for aftermarket services in the aircraft heat exchanger market. Furthermore, increase in the production of aircraft worldwide is projected to drive the growth of the OEM segment of this market, as OEMs are responsible for the installation of various aircraft components.
Based on platform, the aircraft heat exchanger market has been classified into fixed-wing aircraft, rotary-wing aircraft, and Unmanned Aerial Vehicles (UAVs). The fixed-wing aircraft segment is the largest platform segment of the aircraft heat exchanger market. The fixed-wing aircraft segment has been further categorized into commercial aviation, general aviation, and military aviation. The need to enhance passenger comfort as well as ensure effective thermal management is projected to drive the demand for heat exchangers in commercial aircraft.
Based on region, the aircraft heat exchanger market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to lead the aircraft heat exchanger market from 2017 to 2022, owing to the increasing aircraft deliveries in this region and the rising demand for aftermarket services.
The aircraft heat exchanger market in the Asia Pacific region is projected to grow at the highest CAGR during 2017 to 2022. This growth can be attributed to the increase in aircraft production and deliveries in the Asia Pacific region. China, India, and Japan are key markets for aircraft heat exchangers in this region. The aircraft heat exchanger market in China is projected to witness significant growth, owing to the presence of key aircraft manufacturers, such as COMAC, and high demand for repair and maintenance of heat exchangers. Moreover, the growth of the aircraft heat exchanger market in India can be attributed to the rise in the production of commercial and military aircraft in this country.
Read more: Aircraft Heat Exchanger (Plate-fin, Flat Tube) Market, 2023