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Aircraft Turbocharger Market : Heavyweight Aircraft and Lightweight Aircraft Industry Forecast, 2021-2030 | AMR
The global aircraft turbocharger market was valued at $659.8 million in 2020, and is projected to reach $1,195.3 million in 2030, registering a CAGR of 6.5%.Aircraft Turbocharger Market by Type (Butterfly Valve Type and Poppet Valve Type), Platform (Heavyweight Aircraft and Lightweight Aircraft), and Component (Compressor, Turbine, and Waste Gate): Global Opportunity Analysis and Industry Forecast, 2021-2030
Increase in air passenger traffic across the globe and rise in demand for fuel efficient & downsized engines drive the growth of the global aircraft turbocharger market. On the other hand, high costs associated with aircraft turbochargers restrains the growth to some extent. However, surge in operations in the commercial aviation sector is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
The outbreak of the pandemic gave way to the implementation of strict lockdown measures in the majority of countries, which resulted in flight cancellations and ban on e-commerce services. This, in turn, led to massive decline in commercial aviation and logistics activities across the world.
At the same time, several manufacturing facilities around the globe had to partially or fully shut down their operations, thereby impacting the global aircraft turbocharger market negatively.
However, as the global situation is getting better, the market is anticipated to recoup soon.
The global aircraft turbocharger market is analyzed across turbocharger type, platform, component, and region.
Based on turbocharger type, the butterfly valve type segment held the major share in 2020, garnering around three-fifths of the total market. The same segment would also cite the fastest CAGR of 6.8% during the forecast period.
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By platform, the heavyweight aircraft segment accounted for more than half of the total market revenue in 2020, and is anticipated to retain its dominance by 2030. The same segment would also showcase the fastest CAGR of 6.9% from 2021 to 2030.
Based on region, the market across Asia-Pacific contributed to the major share in 2020, holding around one-third of the global market. The same region would also grow at the fastest CAGR by 7.4% from 2021 to 2030.
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The key market players analyzed in the global aircraft turbocharger market report include Airmark Overhaul, Inc., BorgWarner Inc., General Electric Company, Honeywell International Inc., ABB Ltd., Kawasaki Heavy Industries, Ltd., PBS Group, A. S., Rajay Parts LLC, Victor Aviation Service, Inc., and Hartzell Engine Technologies LLC. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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