PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1536662
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1536662
The Air Starter market is estimated to grow from USD 559 million by 2029 to an estimated USD 449 million in 2024, at a CAGR of 4.5% during the forecast period. Ongoing advancements in air starter technology, such as the use of enhanced materials and designs that improve durability and efficiency. Innovations such as the development of lighter and more compact starters with increased torque capabilities are particularly being focused. Unlike electric starters, air starters can withstand extreme temperatures and dusty environments and eliminate the risk of sparks. Further, expansion in key industries such as oil & gas, marine, and aviation significantly contributes to the increased adoption of air starters. These sectors largely use heavy equipment, which requires reliable and robust engine starting solutions to sustain their operations, making air starters an ideal choice.
Scope of the Report | |
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Years Considered for the Study | 2021-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Million) |
Segments | Type, End User and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Turbine Air Starter segment is the largest segment of the air starter market, by type."
The turbine air starter segment is the largest in the air starter market by type, driven by its extensive use in aviation and heavy machinery sectors. This segment's growth is attributed to the increasing demand for reliable and efficient starting solutions in high-performance applications, such as jet engines and large industrial gas turbines. The aerospace industry's expansion, along with the rising need for advanced starting mechanisms in military and commercial aircraft, significantly contributes to the turbine air starter segment's substantial market share. Additionally, technological advancements and the development of more efficient turbine air starters are further propelling the growth of this segment.
"Military & Aviation is expected to emerge as the Second largest segment based on End User segment."
The military and aviation sector is expected to emerge as the second largest end-user of air starters during the forecast period. This growth is driven by the increasing demand for reliable and efficient starting solutions for commercial and military aircraft. Factors contributing to this growth include the expansion of military fleets, modernization of aircraft, and rising defense budgets in countries such as the US, China, and India. Additionally, advancements in air starter technology and the need for robust starting systems in critical applications further bolster the demand in this sector.
"North America is expected to emerge as the largest region based on Air Starter market."
North America is expected to emerge as the largest region in the air starter market during the forecast period, driven by substantial investments in the aerospace and defense sectors, as well as significant industrial activities. The US, in particular, leads the region with its extensive fleet of commercial and military aircraft, which require reliable and efficient starting systems. Additionally, the presence of major air starter manufacturers and technological advancements in the region further boost market growth. The increasing focus on upgrading existing aircraft and industrial equipment also contributes to North America's dominant position in the global air starter market.
By Company Type: Tier 1- 45%, Tier 2- 30%, and Tier 3- 25%
By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%
By Region: North America- 25%, Europe- 30%, Asia Pacific- 25%, the Middle East & Africa- 12%, and South America- 8%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
The Air Starter market is dominated by a few major players that have a wide regional presence. The leading players in the market are Ingersoll Rand (US), Caterpillar (US), Rheinmetall AG (Germany), and Honeywell International Inc. (US) among others
The report defines, describes, and forecasts the Air Starter market, by type, end user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the Air Starter market.
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