Aircraft Heat Exchanger Market Industry Growth, Outlook, Trends By 2027

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)

Publication Month : Sep 2019

  • Report Code : TIPAD00002143
  • Category : Aerospace and Defense
  • Status : Published
  • No. of Pages : 152
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The aircraft heat exchanger market was valued at US$ 1,506.8 million in 2019 and is projected to reach US$ 2,536.0 million by 2027. The Aircraft heat exchanger market is expected to grow at a CAGR of 6.7% during the forecast period of 2020 to 2027.

Heat exchangers are the most efficient component to transmit heat from one medium to other. Aircraft contains numerous systems and equipment. Heat exchangers are one of the components used widely in the aircraft for the heating and cooling process. Heat exchangers are broadly used in aircraft applications owing to their greater compactness, less weight, and higher performances. In aircraft sector where quality is placed on weight and size without compromising on performance aspects, these heat exchangers are mainly utilized. Heat exchanger generally consists of a flat tube, plate-fin type. 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. Several companies in Asia are engaged in delivering the plate-fin heat exchanger. For instance, Apollo Group, a company based in India design and manufacture cooling solutions and diesel engine components. These cooling systems include compact aluminium plate-fin heat exchangers and other accessories. The aluminium used in the fabrication of plate-fin provide the finest heat transfer performance.      

The global aircraft heat exchanger market has been segmented based on type, type of aircraft, application, and geography. Based on type, the aircraft heat exchanger market is segmented as a flat tube and plate-fin. Based on the type of aircraft, the aircraft heat exchanger market is segmented as rotary-wing aircraft, fixed-wing aircraft. Based on application, the aircraft heat exchanger market is segmented as engine and airframe. Geographically, the aircraft heat exchanger market has been segmented based on five strategic regions, namely; North America, Europe, Asia Pacific, Middle East, and Africa, and South America.

Lucrative Regions in Aircraft heat exchanger Market

Lucrative Regions in Aircraft heat exchanger Market
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Aircraft heat exchanger Market Insights

Growing demand in aerospace industry

In the year 2018, the global aerospace industry has experienced a solid year as passenger travel demand strengthened, and global aerospace expenditure continued to rise. The aerospace industry is anticipated to continue its growth trajectory in 2019, led by increasing commercial aircraft production and strong aerospace spending. According to the Aerospace Industries Association (AIA), in the year 2017, the government of U.S. spend on research and development on aerospace and defense was totaled US$ 83.9 Bn. Also, the industry’s commercial aerospace sector saw its increase in the year 2017, compelled by greater shipments of commercial aircraft and general aviation aircraft. Thus, due to the rapid increase in the aerospace industry, several aircraft manufacturers can benefit from the growing spending in the sector in order to design and manufacture advanced aircraft heat exchangers. This factor drives the global aircraft heat exchanger market.

Type of Aircraft -Based Market Insights

Heat exchangers are widely used in aircraft applications both for heating and cooling. Heat exchangers are used in aircraft of all sizes, both rotary-wing aircraft, and fixed-wing aircraft. The size and type of heat exchanger used can be customized to suit a process depending on the type of fluid, density, its phase, viscosity, temperature, chemical composition, pressures, and various other thermodynamic properties. The growth in the production of commercial aircraft globally is anticipated to drive the demand for aircraft heat exchangers.

Aircraft heat exchanger Market, by Type of Aircraft - 2019 and 2027

Aircraft heat exchanger Market, by Type of Aircraft - 2019 and 2027
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Application -Based Market Insights

The global aircraft heat exchanger market by application is categorized into engine and airframe. The engine segment leads the market during the forecast period. There are various applications of heat exchangers. The main purpose is to aid in cooling is broadly used in the aviation industry apart from other applications such as refrigerators, car air conditioning, etc. They are mostly used to cool hydraulics, auxiliary power units, and other components that consist of an aircraft. Constantly increasing adoption of heat exchanger for various applications such as engine and airframe.

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Aircraft Heat Exchanger Market: Strategic Insights

Market Size Value inUS$ 1,506.8 Million in 2019
Market Size Value byUS$ 2,536.0 Million by 2027
Growth rateCAGR of 6.7% from 2020-2027
Forecast Period2020-2027
Base Year2020
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Players operating in the Aircraft heat exchanger market focus on strategies, such as market initiatives, acquisitions, and product launches, to maintain their positions in the aircraft heat exchanger market. A few developments by key players of the aircraft heat exchanger market are:

In July 2019, Boyd Corporation declared the acquisition of Lytron, Inc., which designs and manufactures thermal management and liquid cooling products. This acquisition would help the company to support customers’ increasing needs for liquid-cooled solutions with precise volume development of liquid cold plates and heat exchangers in aerospace markets.

In June 2019, UTC subsidiary, Collins Aerospace declared that the company had been awarded more than US$ 1.5 Bn in tailored agreements for components spanning its power & controls and aerostructures business. The agreements comprise Collins Aerospace’s MRO agreement with Africa’s largest carrier, Ethiopian Airlines. The agreement accounted for approximately US$ 500 Mn with Collins Aerospace’s power & controls business, would enable the airline to service components such as air management systems, heat exchangers, and fuel metering units.

Aircraft Heat Exchanger Market – by Type

  • Flat Tube
  • Plate-fin

Aircraft Heat Exchanger Market – by Type of aircraft Type

  • Fixed-Wing Aircraft
  • Rotary-Wing Aircraft

Aircraft Heat Exchanger Market – by Application

  • Engine
  • Airframe

Aircraft Heat Exchanger Market – by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
    • Rest of APAC
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • SAM
    • Brazil
    • Rest of SAM

Aircraft heat exchanger Market – Company Profiles

  • Boyd Corporation
  • Collins Aerospace
  • Honeywell International
  • JAMCO Corporation
  • Liebherr-International Deutschland GmbH
  • Meggitt PLC
  • TAT Technologies Ltd
  • Triumph Group
  • Wall Colmonoy
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type ; Type of Aircraft ; Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. Boyd Corporation
  2. Collins Aerospace
  3. Honeywell International Inc.
  4. Jamco Corporation
  5. Liebherr Group
  6. Meggitt PLC
  7. TAT Technologies Ltd
  8. Triumph Group, Inc.
  9. Wall Colmonoy
  10. Woodward, Inc.

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