The aircraft auxiliary power unit market is valued at USD 669.47 million in 2022 and is projected to reach a value of USD 1002.76 million in 2030 expanding at a CAGR of 5.18% over the forecast period of 2022-2030.
An auxiliary power unit is defined as an electric power source of aircraft that usually provides energy for the functioning of the aircraft system. The key function of an aircraft auxiliary power unit is to give the ability in order to turn over the aircraft’s engine.
The traditional auxiliary power unit generally generates loud noises that results in an increase in the noise pollution. In order to reduce the noise pollution, the key manufacturers have increased their focus on the development of low noise auxiliary power units.
Also, the advanced aircraft auxiliary power units offer high performance, low fuel consumption, and reduced noises among others. Additionally, the moving trend towards the adoption of more electric aircraft has also boosted the market growth.
The market for auxiliary power units for aircraft was negatively damaged by the COVID-19 epidemic. Due to decreased passenger travel around the world during the pandemic, there was a decrease in the demand for new commercial aircraft. The market was also influenced by restrictions on the supply chain for the transportation of vital parts needed to make auxiliary power units. Nevertheless, the situation improved in 2021 as a result of an increase in passenger traffic and the return of new aircraft orders and deliveries by various airlines.
Key Market Trends
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth is the rising demand for the fuel-efficient auxiliary power unit.
Additionally, the rising development of more electric aircraft in order to gain a high economy at a reduced fuel consumption has also boosted the market growth over the forecast period.
Also, the rising number of military aircraft is one of the key drivers that has supported the aircraft auxiliary power unit (APU) market growth over the forecast period. this is because in recent times, Asia has been the largest buyer of fighter aircraft because of the countries such as Japan, Vietnam, and the Philippines that are expanding their aerial fleet in response to the moves by China to assert territorial claims in the South China Sea.
On the flip side, the development of fuel cells for unmanned aerial vehicles (UAVs) is one of the challenges that has been hampering the military aircraft APU market growth over the forecast period. Using APU on board aircraft releases large amounts of heat and carbon, which has led to the development of alternative powering technologies such as, fuel cells.
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Segmental analysis of the Market
Based on Aircraft Type
- Fixed-wing
- Rotary-wing
- UAVs
The fixed wing segment has dominated the market growth over the forecast period. This is because of the rising delivery of fixed-winged commercial aircraft.
Based on Platform
- Commercial
- Military
The military segment has dominated the market growth over the forecast period. This is because of the rising use of aircrafts in the military sector.
North America is anticipated to amplify at a considerable CAGR
The aircraft auxiliary power unit market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, North America is anticipated to dominate the market growth over the forecast period. This is because of the presence of many aircraft manufacturers and aircraft auxiliary power unit manufacturers. Also, the U.S., has spent a large amount on the adoption of advanced solutions for military application.
Competitive Landscape
Some of the prominent companies operating in the market are
- Aegis Power Systems Inc.
- Aerosila
- Honeywell International Inc.
- Liebherr International AG
- Northstar Aerospace
- PBS Group AS
- Raytheon Technologies Corp.
- Safran SA
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Frequently Asked Questions
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- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
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