PUBLISHER: The Business Research Company | PRODUCT CODE: 1413972
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413972
“Aircraft Auxiliary Power Unit Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aircraft auxiliary power unit market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aircraft auxiliary power unit? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aircraft auxiliary power unit market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
An aircraft's auxiliary power unit (APU) is a crucial onboard device that enables independent aircraft operation, eliminating the reliance on ground support equipment such as a ground power unit, external air-conditioning unit, or high-pressure air start cart. The APU supplies essential electric power to aviation systems and is commonly employed to initiate one of an airliner's main engines, as well as for bleeding air to start these engines.
The primary outputs of the aircraft auxiliary power unit include battery power and electric ground power. It finds application across a range of aircraft types, including fixed-wing, wide-body, narrow-body, rotary-wing, unmanned aerial vehicles, and others. Fixed-wing aircraft are those that rely on wings and their design for flight, catering to various end users such as military, commercial, and general aviation.
The aircraft auxiliary power unit market research report is one of a series of new reports from The Business Research Company that provides aircraft auxiliary power unit market statistics, including aircraft auxiliary power unit industry global market size, regional shares, competitors with an aircraft auxiliary power unit market share, detailed aircraft auxiliary power unit market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft auxiliary power unit industry. This aircraft auxiliary power unit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aircraft auxiliary power unit market size has grown steadily in recent years. It will grow from $3.35 billion in 2023 to $3.48 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The expansion witnessed during the historical period can be credited to several factors, including the need for fuel efficiency, adherence to strict environmental regulations, the continual expansion of air transport networks, the emergence and growth of regional and low-cost carriers, and a heightened emphasis on enhancing passenger comfort.
The aircraft auxiliary power unit market size is expected to see steady growth in the next few years. It will grow to $4.02 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The anticipated growth in the forecast period can be linked to various factors, notably the modernization of current aircraft fleets, the incorporation of increasingly electric aircraft systems, the ongoing development of sustainable aviation solutions, the expansion of urban air mobility (UAM), the continuous enhancement of connectivity and avionics systems, and a concerted effort towards weight reduction in aviation. Several prominent trends expected in the forecast period encompass advancements in auxiliary power unit (APU) technology, a heightened demand for more fuel-efficient APUs, the integration of advanced materials into aircraft systems, a dedicated focus on reducing noise levels, as well as a substantial emphasis on digitalization and enhanced connectivity within aviation.
The surge in aircraft deliveries is expected to drive the expansion of the aircraft APU market. Aircraft deliveries encompass the comprehensive process involving manufacturing, assembly, and handover of aircraft to various customers, including airlines, private owners, and military organizations. APUs function by providing power to the aircraft's electrical and pneumatic systems, enabling independent operation on the ground or during maintenance activities. This diminishes reliance on external power sources, offering enhanced operational flexibility for airlines. For example, data from the General Aviation Manufacturers Association (GAMA) in February 2023 highlighted notable increases in deliveries across different aircraft types in 2022 compared to the previous year. This growth, valued at $22.9 billion in 2022, marked a substantial upswing of nearly 5.8% from 2021, indicating a robust increase in aircraft deliveries and thereby propelling the aircraft APU market.
The escalating demand for air travel is set to significantly contribute to the aircraft APU market's growth. Air transportation involves the movement of people and goods through the use of aircraft such as airplanes and drones. APUs serve a critical role in air travel, enabling aircraft to operate autonomously without relying on ground support equipment such as external air conditioning or power units. Notably, a report released by the International Civil Aviation Organization (ICAO) in May 2022 indicated a substantial increase in total air traffic, measured in revenue passenger kilometers (RPKs), particularly in June 2022, with a staggering 76.2% surge over June 2021. This surge is attributed primarily to the strong resurgence in foreign travel. Consequently, the heightened demand for air travel continues to drive the growth trajectory of the aircraft auxiliary power unit market.
The aircraft auxiliary power unit (APU) market is witnessing a notable surge in technological advancements, shaping its trajectory as a key trend. Major players within this market are actively engaged in developing innovative solutions to fortify their market positions. For instance, Ampaire, a US-based pioneer in hybrid-electric aircraft conversion, forged a partnership in September 2022 with Electric Power (EP) Systems, a US-based provider of energy storage systems. This collaboration aimed to equip the nine-passenger Cessna Grand Caravan with hybrid-electric capabilities, transforming it into the Eco Caravan aircraft. EP Systems' EPiC energy storage system was selected for integration into the Eco Caravan, known for powering various manned and unmanned aircraft such as Embraer Ipanema, Boeing CAV, NASA X-57, Diamond eDA-40, and Aurora Flight Sciences Pegasus with other battery systems.
Major companies in the aircraft APU sector are prioritizing the development of innovative products such as high-specific power generators to optimize market revenues. Notably, LaunchPoint Electric Propulsion Solutions Inc., a US-based developer specializing in electric and hybrid-electric propulsion, introduced the LaunchPoint HPS055 GenSet in August 2021. This 5.5kW high-specific power generator, coupled with a hybrid electric power/engine controller system, facilitates extended-range flight for drones. Utilizing specialized electric machines and GenSet technology, this system enables drones to cover longer distances and carry heavier payloads, catering to applications in security, inspection, mapping, and cargo delivery within military and commercial drone operations.
In November 2022, Safran, a France-based aerospace company, made an undisclosed acquisition of the aeronautical electrical systems business of Thales. This strategic move bolstered Safran's portfolio and expanded its presence in diverse sectors such as defense and helicopters. Thales, a renowned French company, was a key player in providing auxiliary power units (APUs) crucial for supplying electricity to start engines and delivering devices and equipment across aerospace, defense, and transportation sectors.
Major companies operating in the aircraft auxiliary power unit market report are Honeywell International Inc., Hamilton Sundstrand Corporation, Technodinamika, Kinetics Ltd., Rolls-Royce PLC, AEGIS Power Systems Inc., Pratt & Whitney Canada Corp., Safran Power Units SAS, United Technologies Corporation, The Dewey Electronics Corporation, Liebherr-Aerospace Lindenberg GmbH, General Electric Company, BAE Systems plc., Raytheon Technologies Corporation, BOSA S.A., JSC NPP Aerosila, PBS Group a. s., Microturbo, Falck Schmidt Defence Systems A/S, Hartzell Aerospace, Dewey Electronics Corporation, The Marvin Group, AMETEK Airtechnology Group, Behlman Electronics Inc., Tecknowledgey, UTC Aerospace Systems, Aerospace Turbine Rotables Inc., AeroVironment Inc., Airborne Systems North America, Aircraft Electronics Associatio
North America was the largest region in the aircraft auxiliary power unit market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global aircraft auxiliary power unit market report during the forecast period. The regions covered in the aircraft auxiliary power unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aircraft auxiliary power unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The aircraft auxiliary power unit market consists of sales of battery, hydraulic accumulator, and combustion engines using diesel, gas, or propane fuel. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.