Asia-Pacific Aircraft Heat Exchanger Market to 2027 -Analysis and Forecasts by Type (Flat Tube, Plate-fin); Type of Aircraft (Rotary-Wing Aircraft, Fixed-Wing Aircraft); Application (Engine, Airframe), and Country
Europe aircraft heat exchanger market in is expected to grow from US$ 236.8 Mn in 2018 to US$ 478.6 Mn by the year 2027. This represents a CAGR of 8.5% from the year 2018 to 2027. In the year 2018, the global aerospace industry has experienced a solid year as passenger travel demand strengthened, and global aerospace expenditure continued to rise. The aerospace industry is anticipated to continue its growth trajectory in 2019, led by increasing commercial aircraft production and strong aerospace spending. Also, the industry’s commercial aerospace sector saw its increase in the year 2017, compelled by higher shipments of commercial aircraft and general aviation aircraft. Thus, due to the rapid rise in the aerospace industry, several aircraft manufacturers can benefit from the growing spending in the sector to design and manufacture advanced aircraft heat exchangers. This factor drives the aircraft heat exchanger market.
Many major companies which design and manufactures operating in aircraft heat exchanger market have the opportunity to expand its business in developing countries such as India, Thailand, Malaysia, and others. The reason to expand in such countries is low labor cost and highly skilled labors. Several developed countries around the world are focusing on expanding its aircraft components manufacturing operation in developing countries. Southeast Asian countries such as Malaysia and Thailand are keen to attract industries from overseas, to develop their economies. This is also offering opportunities for small and medium-sized companies based in Japan that manufacture aircraft parts to start operations in the Southeast Asia region. Thus, the companies have an opportunity to expand to the southeastern region and gain a strong position in the aircraft heat exchanger market.
The Asia-Pacific aircraft heat exchanger market by application is segmented into the engine and airframe. The mechanical construction of an aircraft is called as the airframe. Airframe mechanics perform maintenance and repairs on the structure of an aircraft, excluding power plants, propellers, and avionics instruments. The airframe includes avionics equipment, air conditioning unit, camera assembly, and many others. The significance of airframe as a heat exchanger is mainly for temporary conditions where the airframe can immerse temporary high heat loads and therefore moderate the effects of temporary heating extremes. The airframe is cooled through the use of heat exchangers. The engine electronic control unit (ECU) is cooled by the airframe environmental control system (ECS) increasing its operational consistency.
The overall aircraft heat exchanger market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific aircraft heat exchanger market. It also provides the overview and forecast for the Asia-Pacific aircraft heat exchanger market based on all the segmentation provided with respect to the Asia-Pacific region.
Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific aircraft heat exchanger industry. Some of the players present in Asia-Pacific aircraft heat exchanger market are AMETEK.Inc., BOYD Corporation, Collins Aerospace, Honeywell International Inc., Jamco Corporation, Liebherr Group, Meggit Plc, Triumph Group, Sunnito Precision Products Co, Ltd, Woodward Inc.