The aerospace filters solution adoptions by the BFSI sector in the APAC region is anticipated to exhibit good growth rate and drive the Aerospace filters market (aerospace filters) market
Latest market study on “Aerospace Filters Market to 2027 by Type (Air Filter, Liquid Filter, and Gas Filter); Aircraft Type (Fixed Wing Aircraft and Rotary Wing Aircraft); End- User (Commercial and Military); and Application (Hydraulic System, Engine, Avionics, and Cabin) – Global Analysis and Forecast”, The Aerospace Filters Market is estimated to reach US$ 2.03 Bn by 2027 from US$ 1.05 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
The investments and market performance of the global aerospace & defense industry have a direct impact on the performance of the aerospace filters market. As the aerospace filters are majorly used in the commercial aircraft and have witnessed increasing applications in the military aircraft as well, their growth outlook is anticipated to be high over the coming years. Fiscal 2017 experienced a subdued growth in the aerospace & defense industry largely due to sedate investments in the sector for technological advancements. However, with a bright economic outlook for a majority of the developing countries in 2018, and announcements by Governments of the developing economies to invest heavily in the aerospace & defense sector, rapid advances in the aerospace filters market is anticipated.
Lowering of airfares, a decline in the oil prices have favored an increase in air passenger travel globally. Increasing disposable incomes with individuals and the growing tourism industry in many countries of the world also contribute to the increasing passenger travel through airways transportation systems. These factors have resulted in the large demands for commercial aircraft. The demand has seen an upsurge particularly in the Asian nations such as India, and China that comprises of large populations and a rapidly developing economy. Huge demands have resulted in supply backlogs for commercial aircraft and therefore, sensing good opportunities global aircraft manufacturers have announced setting up of additional manufacturing plants across the globe. Aircraft manufacturers have particularly been attracted towards the South East Asian nations for setting up their manufacturing plants. The aerospace filters manufacturers and suppliers can look to cash in on the upcoming opportunity and partner with the aircraft OEMs in South East Asia.
Some of the leading aircraft manufacturing countries include the US, UK, France, Israel, South Korea, Japan, and Australia. Further, regulations laid down by IATA globally towards the reduction of carbon footprints from the aircraft propel the significance of aerospace filters. Mandates by the environmental bodies on achieving sustainable progress and a clean environment drive the usage of aerospace filters in the commercial as well as military aircraft. Also, mandates on the timely and regular maintenance of aircraft components laid down by the aviation authorities regularly have resulted in the growth of the retrofitting market for aerospace filters. After sales distribution owing to the regular maintenance cycles and shorter lifecycles of aerospace filters could provide significant market opportunities to the players operating in the aerospace filtration market.
The key companies operating in the field of aerospace filters market that are profiled in the report include Donaldson Company, Inc., Eaton Filtration, Freudenberg Group, GKN Aerospace, Hollingsworth & Vose, Pall Corporation, Parker Hannifin Corp., Porvair plc, Recco Filters, Ltd., and Safran Filtration Systems among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
The report segments the global aerospace filters market as follows:
Global Aerospace Filters market – By Type
Global Aerospace Filters Market – By Application
Global Aerospace Filters Market– By Aircraft Type
Global Aerospace Filters Market – By End User
Global Aerospace Filters Market – By Geography
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