The aircraft exhaust system market was valued at USD 583.1Million in 2017 and is expected to reach at USD 1018.3Million by 2025 growing at a Compound Annual Growth Rate (CAGR) of 7.3% from 2018 to 2025. Rising demand for passenger and cargo aircraft across the developing countries are significantly propelling the market growth. The rise in demand for lightweight and energy efficient with less gas emitting exhaust system are the prime factors augmenting the growth of this market. Moving forward, increasing government policies regarding alteration of exhaust system frequently coupled with increased concern for repairing and replacement activities to prevent accidents are further propelling the demand for aircraft exhaust system market during the forecast period. The amphibious aircraft is estimated to create new necessities and augment the market of growth over the forecast period of 2018-2025.
Commercial segment is estimated to witness significant
The aircraft exhaust system market has been segmented based on aircraft types into passenger, cargo, helicopters, amphibious and others. Based on engine types, the aircraft exhaust system market has been bifurcated as turbojet, turboprop, turboshaft, and turbofan. Moving forward, based on application, the market is segmented as defense and military, commercial, private and others. Commercial segment is expected to grow at the fastest CAGR during the forecast period owing to the rise in demand and manufacturing both cargo and passengers. This rise in demand is the result of the reduction in global trade barriers coupled with the reduction of passenger fares.
North America holds the largest market share by region
The global medical fiber optics market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East, and Africa region. In addition to this, the North American region holds the largest market share. The reason may be attributed to the strict government regulations regarding frequent monitoring and replacement of the exhaust system to prevent unforeseen errors and huge losses. The presence of greater number of aircraft exhaust system manufacturers coupled with the massive investment in R&D of the new exhaust system is the other factors for which North America’s aircraft exhaust system market in holding the prime position in the global aircraft exhaust system market. However,Asia-Pacific is estimated to dominate the market growth during the forecast period, owing to the presence of leading exporting countries such as China, South Korea, India and Japan, where the demand for cargo vehicles is expected to rise for transportation of goods to the other parts of the globe coupled with a rising preference for aircraft for traveling due to the reduction of fare. These reasons are expected to positively influence the market growth during the forecasted period.
Major Players in Aircraft Exhaust System Market
Global Aircraft Exhaust System Market: By Aircraft Types
Global Aircraft Exhaust System Market: By Engine Types
Global Aircraft Exhaust System Market: By Application
Global Aircraft Exhaust System Market: By Geography