Growth in aircraft has increased substantially as the airlines in the developed countries are ordering increased number of aircraft to meet the continuously growing air travel demand. Due to the growing demand for several aircraft, the demand for its numerous systems and equipment such as heat exchanger has also increased. The two most commonly used heat exchanger widely used in the aviation sector is flat tube and plate-fin. Both play an essential role in aviation application. However, plate-fin heat exchangers are widely used in the aviation sector due to its compactness, low weight, and high effectiveness. These exchangers are extensively used around the globe for several decades. The growth in demand for plate-fin heat exchangers is positively influencing the aircraft heat exchanger market.
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Aircraft Heat Exchanger Market to 2027 - Global Analysis and Forecasts by Type (Flat Tube and Plate-fin); Type of Aircraft (Rotary-Wing Aircraft and Fixed-Wing Aircraft); Application (Engine and Airframe)
The global aircraft heat exchanger market accounted at US$ 1.43 Bn in 2018 and is expected to grow at a CAGR of 6.7% during the forecast period 2019 - 2027, to account to US$ 2.54 Bn by 2027.
North America holds the majority revenue share of the aircraft heat exchanger market. Growing deliveries of commercial aircraft in the North America region are contributing to the high demand for aircraft heat exchangers. Also, the presence of key manufacturers of heat exchangers in the region is another noteworthy factor influencing the growth of the aircraft heat exchanger market. Growing regions such as Asia Pacific, Middle East, Africa, and South America are also anticipated to offer significant growth opportunities for aircraft heat exchanger market in the forecast period from 2019 to 2027 owing to the supportive government initiatives.
The players operating in the aircraft heat exchanger market are highly focused establishing long-term relationship with the aircraft manufacturers. Few of the recent developments are listed below:
2019: TAT Technologies Group signed an agreement with a leading European system manufacturer for the aerospace industry for supplying heat exchangers. The predictable revenues from this agreement are US$ 20 Mn for the years 2019-2023. Under this agreement, the company would be the heat exchanger provider for specific products.
2018: Liebherr Group's aerospace domain expands its presence in China. The company is growing and strengthens its support to Commercial Aircraft Corporation of China and the customers of aircraft manufacturers in China.
2017: ATR Aircraft, an aircraft manufacturer, based in France has selected Liebherr Group to develop, manufacture and supply an air management system for the ATR 42 and the ATR 72 aircraft agendas. The system would be produced by Liebherr-Aerospace Toulouse SAS, part of Liebherr Group.
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