Global Aircraft Auxiliary Power Unit market expected to reach $1258.1 million by 2033, driven by technology and demand growth.
From GlobeNewswire: 2024-07-20 03:00:00
The Global Aircraft Auxiliary Power Unit Market is expected to grow from USD 1022.5 Million in 2023 to USD 1258.1 Million by 2033, with a CAGR of 2.10%. Rising air travel and technological advancements are driving industry growth, with North America and Europe leading the market. Demand for fuel-efficient and eco-friendly solutions is also increasing. Key players prioritize partnerships and innovation to stay competitive.
The Aircraft Auxiliary Power Unit market value chain includes raw material suppliers, manufacturers, OEMs, and the aftermarket segment. Maintenance, repair, and overhaul services are crucial for ensuring the dependability of APUs. Distributors and suppliers help move products along the value chain, with end users such as commercial airlines and military operators relying on APUs for power during ground operations and flights.
In terms of aircraft type, the fixed-wing segment holds the largest market share due to increased demand for efficient APUs for ground and in-flight operations. Military modernization programs also contribute to segment growth. The military platform segment has the largest market share, driven by the need for reliable power in advanced military aircraft. Asia Pacific is witnessing the fastest market growth between 2023 to 2033.
North America is expected to dominate the Aircraft Auxiliary Power Unit Market from 2023 to 2033, fueled by a thriving commercial aviation sector and significant military aircraft purchases. Major players like Honeywell and Pratt & Whitney contribute to market growth through research and development. Asia Pacific’s focus on fuel efficiency and environmental technology is driving the development of advanced APU systems.
Key players in the Global Aircraft Auxiliary Power Unit Market include Honeywell International Inc., Safran Electrical & Power, Hamilton Sundstrand, and Pratt & Whitney Canada. Recent market developments include Honeywell’s release of a high-efficiency mode modification for its 131-9A auxiliary power unit for Airbus aircraft. The market segmentation includes analysis by aircraft type, platform, and region.
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