Europe aircraft heat exchanger market in is expected to grow from US$ 345.0 Mn in 2018 to US$ 650.0 Mn by the year 2027. This represents a CAGR of 7.5% from the year 2018 to 2027. Demand for additive manufacturing (AM), also known as 3D printing, is swiftly increasing to achieve new design paradigms while allowing an effective means for production. Adoption of additive manufacturing has increased across various industries. However, the aerospace and defense industry is the early adopter of AM. Numerous reasons underlie AM’s widespread adoption in aerospace and defense industry includes the flexibility to create complicated part geometries that are tough to build by using traditional manufacturing.
The aerospace industry is progressively using additive manufacturing to decrease material costs, reduce labor content, and increase the availability of parts. As aircraft technology becomes more sophisticated with more efficient engines, thermal management necessities regarding cooling would become increasingly aggressive. Heat exchangers would need to meet a more advanced level of performance. This requires innovative designs that possible through additive manufacturing (AM) techniques. The additive manufacturing process that may be potentially used to produce heat exchangers.
Today, the aerospace industry stands uniquely poised, on the threshold of propelling itself into the global arena. Due to the support and involvement of the government in various potential regions in the demand and supply of aerospace products, the aerospace industry has set itself on the secure path towards a transformational change. The support from government is expected to fuel the growth of aircraft heat exchanger market. The transformational change leads toward the progression of the aerospace industry as, the industry is developing in the export-oriented sector, with the potential to provide excellent opportunities for established companies in the aircraft heat exchanger market.
The Europe aircraft heat exchanger market by aircraft type is segmented into the fixed-wing and rotary-wing. In the current aviation sector, the fixed-wing aircraft segment is experiencing a substantial boom, attributing to the exponential rise in air travel passengers across the globe. In 2017, the leading aircraft manufacturers namely; Airbus, Boeing, Textron, Embraer, and Gulfstream, delivered more than 2,500, including both commercial as well as military aircraft. The fixed-wing segment accounted for the largest market share in the aircraft heat exchanger market, due to the significantly huge demand for heat exchanger on these aircraft. The demand for the aircraft heat exchanger is primarily from the fixed-wing aircraft segment due to the rising trend of retrofitting or modifying avionics and associated components from commercial airlines. The fixed-wing segment of the aircraft heat exchanger market is expected to grow significantly in the forecast period.
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 Europe aircraft heat exchanger market. It also provides the overview and forecast for the Europe aircraft heat exchanger market based on all the segmentation provided with respect to the Europe 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 Europe aircraft heat exchanger industry.
Some of the players present in Europe aircraft heat exchanger market are BOYD Corporation, Collins Aerospace, Honeywell International Inc., Jamco Corporation, Liebherr Group, Meggit Plc, TAT Technologies Inc., Triumph Group, Wall Colmonoy, Woodward Inc.