Aircraft Filters Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The aircraft filters market size is projected to grow from an estimated USD 823 million in 2021 to USD 1,002 million by 2026, at a CAGR of 4.0% during the forecast period. Short replacement cycle of aircraft filters and rising demand for military UAVs to drive the growth of the market. Emergence of aircraft manufacturers in Asia Pacific and Latin America serves as an opportunity for market growth up to 2026.

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The outbreak of COVID-19 and the resultant lockdowns and restrictions have taken a colossal toll on the world's economic activities. Air travel restrictions across the world have badly impacted the entire aviation sector. The COVID-19 pandemic has impacted the end-use industries adversely, resulting in a sudden dip in 2020 aircraft orders and deliveries. This is expected to negatively impact the aerospace filters market in the short term, with a slow recovery expected in Q1 of 2021.The temporary halts in production have impacted the market for aerospace filters adversely.

"Based on platform, Unmanned Aerial Vehicles segment is expected to grow at the highest CAGR in the aircraft filters market during the forecast period"

Based on platform, the unmanned aerial vehicles segment is projected to grow at the highest CAGR from 2021 to 2026. The growth of this segment can be attributed to the rising demand for UAVs in the military sector. Though UAVs currently account for a small portion of the market for aerospace filters, future developments in UAV technology might make them fit for human transportation, which might lead to a surge in demand for aerospace filters for UAVs in the future.

"Based on type, the air filters segment is expected to grow at the highest CAGR in the aircraft filters market during the forecast period"

Based on type, the aerospace filters market is segmented into air filters and liquid filters. The air filters segment is expected to grow at the highest CAGR during the forecast period. The rise in demand for aircraft engines and rapid commercialization of passenger drone technology is expected to drive the overall demand in the aerospace filters market.

"Europe is expected to be the fastest-growing region for the aircraft filters market during the forecast period"

Europe is the fastest growing region in the aerospace filters market. The growth of the market in Europe is driven by the increase in air travel in the region. The market in Europe is matured with the presence of key manufacturers and end users such as aircraft manufacturers. This is again a major driver for the growth of aerospace filters market in Europe. The presence of leading OEMs is driving the market growth of the entire North American aerospace filters market. In addition, aircraft modernization programs carried out in various countries are considered to fuel the regional demand for aerospace filters. The growth of the market in Asia Pacific is driven by increasing air passenger traffic in the region which is boosting the development or procurement of new aircraft. This increasing demand for new aircraft in the region is expected to stimulate the aerospace filter market during the forecast period.

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Major players operating in the aerospace filters market include Parker Hannifin Corporation (US), Donaldson Inc. (US), Safran (France), Porvair PLC (UK), and Freudenberg & Co.KG (Germany) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

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This release was published on openPR.