Increase in global air commuter traffic will drive aircraft exhaust system market in commercial aviation segment
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This report provides an exhaustive account of the industry including:
• Aircraft exhaust system market size, historical from 2014 to 2018 and annual forecast from 2019 to 2025
• Major aircraft exhaust system industry trends, technology evolution, economic indicators and business challenges
• Regulatory and geopolitical trends impacting the industry
• Business drivers and pitfalls impacting key regional markets
• Competitive landscape of the industry and detailed profiles on the major companies
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Increasing production of new aircrafts coupled with stringent emission norms will drive aircraft exhaust system market growth. An aircraft engine exhaust system collects and disposes high temperature emission from engine while offering enhanced safety to planes airframe and travelling passengers. The system can avoid carbon monoxide poisoning, loss of engine performance and can even prevent fire outbreak.
Technological advancements have led to the production of enhanced aircraft exhaust systems that can adequately resist high temperatures gases, corrosion, and vibration and can provide long, trouble-free operation with minimum maintenance.
Stringent emission norms and targets introduced by federal agencies worldwide will expand aircraft exhaust system market size over the coming years. For instance, in 2018, International Air Transport Association (IATA) announced a set of targets to reduce CO2 emissions from air transport which included reducing net aviation CO2 emissions by 50% by 2050, relative to 2005 levels.
Increase in global air commuter traffic will drive aircraft exhaust system market in commercial aviation segment. According to International Civil Aviation Organization (ICAO), in 2018, a total of 4.3 billion passengers used air transport on scheduled services, accounting for a 6.1% increase over 2017. With growing number of travelers opting for air commute, deployment of new long-haul commercial aircrafts will be required which will eventually foster aircraft exhaust system industry size. Citing an instance, in 2019, Ireland flag carrier airline, AER LINGUS ordered six new Airbus A321XLR planes with first delivery scheduled in 2023.
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Europe may account for a significant market share over the coming years. Rapid technological advancements focused on reducing exhaust emissions and meeting emission targets will foster market growth. Moreover, increase in air passenger traffic in recent years will augment industry size. For instance, HM Government’s Aviation 2050 reports claim that UK passenger traffic is estimated to increase to 435 million by 2050.
Increased military spending focused on deploying new aircrafts will expand market size. In 2019, Spain joined forces with Germany and France in a project to build new, next generation fighter jets in a bid develop native military hardware. Initiatives like these will effectively open new growth opportunities, further expanding Europe aircraft exhaust system market size.
Some key players operating in the aircraft exhaust system market include Documman, Nexcelle, Magellan Aerospace, Triumph Group, Esterline Technologies, Nordam, Frank Industries, Senior Aerospace, and GKN.
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