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Based on system, the aircraft exhaust system market size is segmented into engine exhaust system and APU exhaust system. The growth in the APU exhaust system can be attributed to the requirement for auxiliary power to operate aircraft electronics including air conditioning and lighting among others. Moreover, the auxiliary power is also required for assisting in the main engines during start-ups and during the event of an engine malfunctioning.Based on aircraft, the aircraft exhaust system market can be categorized into commercial aircraft, military, regional, and helicopters. The rising defense budget globally along with increasing preference of governments to modernize and upgrade existing fleets are driving the segment share.
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Based on fit, the aircraft exhaust system market share can be segmented into line fit and retrofit. The rising aircraft production globally on account of increasing air passenger travel is boosting the segment demand. Moreover, proliferating tourism sector along with rising disposable income globally are further expanding the industry size. Aircraft manufacturers are expanding their production facilities for catering to the growing consumer demand. For instance, in 2019, Airbus announced the construction of its A220 manufacturing facility in the U.S.
Aircraft exhaust system market size is set to witness exponential growth rate during the forecast period impelled by rising aircraft demand along with increasing investments from defense sector. Stringent regulations pertaining to reducing carbon emissions along with improving flight efficiency are further supporting the industry demand. Additionally, the development of light weight and lower drag exhaust components will further boost the revenue generation.
North America will account for a significant share in the aircraft exhaust system market. This can be attributed to the presence of multiple aircraft manufacturers across the region including Boeing, Airbus, and Lockheed Martin among others focusing on launching diversified range of aircrafts at varied price range. Moreover, increasing production of such aircrafts for reducing order backlogs are boosting the industry size. For instance, in 2019, Boeing announced the delivery of 806 commercial jets in 2018.
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Asia Pacific will witness significant growth in the aircraft exhaust system market share. This can be attributed to the rising air passenger travel across the region. The proliferation of low-cost carriers along with improving disposable income are enabling consumers to opt for air travel owing to expanded network of routes and low-cost fares. The presence of multiple airliners along with improving tourism industry are further accentuating the regional share expansion.
Few of the major players operating in the aircraft exhaust system market share include Magellan Aerospace, Triumph Group, Documman, Nexcelle, Esterline Technologies, Nordam, Frank Industries, Senior Aerospace, and GKN. Industry players are continuously investing in R&D for developing new technologies and exhaust systems for increasing their market share.
Industry players are continuously investing in R&D for developing advanced exhaust systems with a focus on lowering weight and improving efficiency. The development of Electronic Thrust Reverser Actuation System (ETRAS) with the combination of an electrical thrust reverser actuation controller (ETRAC) and thrust reverser power unit (TRPU) enables for automated thrust reverser operation through electromechanical actuators, thereby expanding the aircraft exhaust system market share.
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