Aircraft Heat Exchangers Market Drivers Analysis by 2028 | Key Players - Liebherr-International, Triumph Group, Jamco, Aavid Thermalloy, Wall Colmonoy, Ametek, Honeywell International, Lytron, Meggitt, United Technologies, Woodward, TAT Technologies
Aircraft heat exchangers are devices which are used in cooling and heating applications in aircraft cabin and engine compartments. Aircraft heat exchangers are finding various applications in all types of aircraft, as they have exceptional heating and cooling properties. Aircraft heat exchangers are used to transfer heat and energy from one medium to another for the purpose of cooling as well as heating. The increasing demand for effective cooling and heating in commercial aircraft is estimated to fuel the demand for aircraft heat exchangers over the forthcoming years
Aircraft heat exchangers also have the features to maintain air quality and humidity, further enhancing customer comfort. These aircraft heat exchangers are individually installed for engine requirements, cabin cooling, or heating requirements. Clearly, the cost and performance of the engine aircraft heat exchangers are comparatively higher than the environmental control aircraft heat exchangers in the global market. The growing demand for comfort through HVAC in the passenger aircraft is estimated to remain one of the strongest growth factors for the global aircraft heat exchangers market.
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Aircraft Heat Exchangers Market: Market Dynamics
An aircraft is an expensive commodity requiring millions of dollars to manufacture and maintain. Most small airline carriers lease aircraft from major players to avoid the high capital investment. Most aircraft in the fleet of regional carriers are leased aircraft. Airline carrier companies which lease aircraft, usually renovate the entire aircraft before putting it into operation. The entire aircraft cabin is renovated according to the needs of airline carriers and customer demands. This is driving the growth of the aftermarket sales segment in the aircraft heat exchangers market.
Long-haul flights or long distance non-stop air travel of over 7 hours of flight time has grown considerably over the last few years due to an increase in the travelling range of an aircraft, shorter travel times, and fewer transit complications. Long-haul flights can cause discomfort to passengers, such as restlessness, fatigue, and jet lag. Airline carriers are focused on improving passenger comfort, which is increasing the adoption of comfortable, highly-customized, and advanced aircraft heat exchangers to replace conventional systems. The practice of fitting more efficient and operational aircraft heat exchangers in long haul flights is a factor driving the growth of the global aircraft heat exchangers market.
Increasing consumer eagerness for air travel is estimated to drive the aircraft sector, which in turn, will propel the demand for aircraft heat exchangers in the global market over the forecast period. This is estimated to boost the supply for HVAC devices such as the aircraft heat exchangers in the global market. The global aircraft industry is estimated to grow dynamically in the next decade. China, United States, EU-5, and India are major contributors to the aircraft industry.
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Aircraft Heat Exchangers Market: Regional Outlook
The aircraft heat exchangers market is expected to rise in the forecast period as the demand for order books for various commercial aircraft is increasing at a good pace. Additionally, most of the aircraft which have been in operation for longer periods of time are estimated to be replaced with new fleet, hence, creating lucrative opportunities for aircraft heat exchangers over the forecast period. The regions such as South Asia, GCC, North America, etc. where the air passenger traffic has increased substantially are estimated to contribute significantly to the global aircraft heat exchangers market over the forecast period. The growth of emerging markets such as Mexico, Russia, Israel, India, China, and ASEAN countries among others is estimated to play a significant role over the forthcoming years in the aircraft heat exchangers market. Furthermore, the increasing attractiveness of the global consumers for air travel owing to factors such as comfort, less time, quick response, etc. is further estimated to boost the sales of components such aircraft heat exchangers in the global market.
Aircraft Heat Exchangers Market: Key Participants
Examples of some of the market participants in the global aircraft heat exchangers market identified across the value chain include:
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