New York, June 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Auxiliary Power Unit Global Market Report 2023" - https://www.reportlinker.com/p06466600/?utm_source=GNW
The global aircraft auxiliary power unit market is expected to grow from $3.22 billion in 2022 to $3.35 billion in 2023 at a compound annual growth rate (CAGR) of 4.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft auxiliary power unit market is expected to reach $3.85 billion in 2027 at a CAGR of 3.5%.
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.
An aircraft auxiliary power unit refers to a device on aircraft that allows an aircraft to function independently without needing ground support tools like a ground power unit, an external air-conditioning unit, or a high-pressure air start cart.APU supplies critical electric power for aviation systems and is typically utilized to start one of the main engines on an airliner.
It is also used to bleed air to start the main engines.
North America was the largest region in the aircraft auxiliary power unit market in 2022.Asia-Pacific is expected to be the fastest-growing region in 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 and Africa.
The main products of aircraft auxiliary power unit are battery power and electric ground power.The aircraft auxiliary power unit is used in various types of aircraft, such as fixed-wing, wide-body, narrow-body, rotary-wing, unmanned aerial vehicle, and others.
A fixed-wing aircraft refers to an aircraft that flies using wings and the shape of the wings. These are used by several end users, such as military aircraft, commercial aircraft, and general aviation.
Increasing demand for air travel is expected to propel the aircraft auxiliary power unit market going forward.Air transportation refers to the transportation in the sky by which people and things can be moved in the air by things like airplanes and drones.
Aircraft, including planes, jets, and helicopters, are used in the category of travel known as air travel.Aircraft APUs play an important role in air travel as they allow a plane to function independently without the need for ground support tools such as a ground power unit, an external air conditioner, or a high-pressure air start cart.
For instance, in May 2022, according to a report released by the International Civil Aviation Organization (ICAO), a Canada-based specialized agency of the United Nations, in terms of revenue passenger kilometres, or RPKs, total traffic in June 2022 increased by 76.2% over June 2021, principally due to a persistently strong rebound in foreign travel. Therefore, the rising demand for air travel is driving the growth of the aircraft auxiliary power unit market.
Technological advancements are the key trends gaining popularity in the aircraft auxiliary power unit market.Major companies operating in the aircraft auxiliary power unit market are focused on developing new technological solutions to strengthen their position in the market.
For instance, in October 2020, Honeywell, a US-based company that provides smart building solutions for aerospace, defense, and manufacturing, released a high-efficiency mode upgrade for its 131-9A technology single-aisle Airbus auxiliary power unit.A software encryption key is required to activate this high-efficiency mode, which is predicted to extend the average time on the wing by 1,200 APU flight hours and decrease fuel consumption by 2%.
It also provides the air supply when a pilot is ready to start the main engines. The 131-9A is renowned for its dependability and decreased maintenance costs throughout its full life cycle, leading to considerable fuel savings every year.
In November 2022, Safran, a France-based aerospace company, acquired the aeronautical electrical systems business of Thales for an undisclosed amount.The acquisition enabled Safran to increase its portfolio and expand additionally into other business areas, such as defense and helicopters.
Thales is a France-based provider of the auxiliary power unit (APU), which fuels both engine starters with electricity and provides devices and equipment for the aerospace, defense, and transportation industries.
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.
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.
The aircraft auxiliary power unit market research report is one of a series of new reports that provides aircraft auxiliary power unit market statistics, including aircraft auxiliary power unit industry global market size, regional shares, competitors with a 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.
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