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Global Aircraft Cooling Turbines Market Size, Share, and Analysis, By Aircraft Type (Narrow Body Aircrafts, Wide Body Aircrafts), By Type (Fan Cooling Turbines, Compressor Fan Cooling Turbines, Compressor Cooling Turbines), By Product Type (Water Cooling Turbine, Gas Cooling Turbine), By Application (Transportation Aircrafts, Commercial, Business Jets, Fighter Jets, Military, Others) and Regional Forecasts, 2022-2032
Global Aircraft Cooling Turbines Market size was USD 20.9 billion in 2021 and projected to grow from USD 23.6 billion in 2023 to USD 41.4 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period.
Aircraft cooling turbine is an essential part of air cycle system. Aircraft cooling turbines are used in jet aircrafts and high-speed passenger aircrafts as they are compact and simple refrigeration systems. The capacity of aircraft cooling turbines is high having minimal payload. Aircraft cooling turbines are utilized in air cycle systems to cool air and sent to cabin. Air cycle systems are the most efficient systems when the cooling requirement is high.
Global Aircraft Cooling Turbines Market is expected to reach USD 41.4 billion, growing at a CAGR of 6.4% during forecast period owing to the growing applications of aircraft cooling turbines in various fields like military and commercial aircrafts, increasing utilization of turbines to control inner cabin temperature and availability of product as per the aircraft size are the factors which are anticipated to drive the demand for the growth of the market. The increasing focus on creating pleasant environment for passengers, growing air traffic due to passenger increment and the increasing preference for fast and pleasant travelling are expected to drive the demand for the growth of the global aircraft cooling turbines market during the forecast period.
Global Aircraft Cooling Turbines Market is classified based on the Aircraft Type into Narrow Body Aircrafts, Wide Body Aircrafts. Wide Body Aircrafts segment dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the growing requirement to maintain easy and comfortable passenger travel experience. Increasing number of commercial airline services and the rising demand for cooling turbines in military is anticipated to drive the demand for the growth of the segment in the market during the forecast period.
Global Aircraft Cooling Turbines Market is classified based on the Application into Transportation Aircrafts, Commercial, Business Jets, Fighter Jets, Military, Others. Commercial segment is expected to dominate the market in the forecast period owing to the growing commercial aircraft services which increases the necessity to ensure optimal cooling in cabins to maintain pleasant conditions. Frequent aircraft services also result in increased requirement for engine cooling, where cooling turbines play major role.
Increasing Air Traffic is Expected to Boost the Growth of the Market
The increasing passenger traffic has resulted in high demand for rapid and agreeable transportation mode in the airline field and this growth is expected to continue at high rate during the forecast period. This growing air passenger travel is leading to growing new aircrafts initiation which is boosting growth of airline industry. The advancements in technology is resulting in better aircraft services and is also driving the growth of military sector, thereby creating demand for aviation cooling turbines market during the forecast period.
Rising Advancements in Aviation Technology is Expected to Boost the Growth of the Market
Various advancements in technology related to aviation industry is constantly creating growth opportunities along with improvements in aircraft materials, design, and engine technology. These advancements need effective and efficient cooling systems which may boost the demand for advanced cooling turbines market. The production of aircrafts has increased owing to the growing demand for new aircrafts as there is a constant increment in air travelling. Cooling turbines are essential for maintaining ideal operating temperatures, to assure safety and reliability of aircraft components and systems which is creating demand for growth of aircraft cooling turbines market.
High Installation Cost May Restrain the Growth of the Market
The installation cost of aircraft cooling turbines is high which is anticipated to restrain the market growth. The possibility of failure and inefficiencies of product at high altitudes may hamper the growth of the aircraft cooling turbine market.
Global Aircraft Cooling Turbines Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the aircraft cooling turbines market in 2021 owing to the presence of several manufacturers of aircraft in countries of this region, the presence of remarkable fleet size, and good established aviation industry are anticipated to boost the market growth. Asia-Pacific region is expected to grow in the aviation industry due to the growing air traffic, increasing disposable incomes, and evolution of of low-cost carriers which may drive the Aircraft Cooling Turbines market growth.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed travel restrictions and lockdown measures to control the spread of virus. The demand for air travel had reduced due to the applied travel restrictions. This resulted in reduced aircraft orders and resulting in negative impact on the demand for aircraft cooling turbines. The disruptions in supply chain disruptions and low availability of man power affected the market growth. Covid-19 had a negative impact on the growth of the Global Aircraft Cooling Turbines Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 6.4% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Aircraft Type |
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Type |
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Product Type |
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Application |
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By Region |
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Global Aircraft Cooling Turbines Market size was estimated at USD 20.9 billion in 2021 and is expected to reach USD 41.4 billion in 2032.
Wide Body Aircrafts and Commercial segment accounted for the highest growth rate in the Global Aircraft Cooling Turbines market.
Leading players: Safran, Bharat Forge, Airmark Components, Collins Aerospace, Tyrolit Schleifmittelwerke Swarovski KG, Global Aerospace Corporation, Aviatron Inc, Honeywell International Inc., GE, AeroKool Aviation Corporation, Mohawk Innovative Technology, Aeronamic and Other Prominent Players are the leading players in the Global Aircraft Cooling Turbines Market.
Increasing air traffic and Increasing advancements in aviation technology are the factors driving the Global Aircraft Cooling Turbines market.
The high installation cost of aircraft cooling turbines and the possibility of failure at high altitudes are the challenges associated with the Global Aircraft Cooling Turbines Market.
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