Aircraft Turbocharger Market Projected to reach $1,195.3 million in 2030, registering a CAGR of 6.5%.

The global aircraft turbocharger market was valued at $659.8 million in 2020, and is projected to reach $1,195.3 million in 2030.

PORTLAND, OR, UNITED STATES, January 25, 2022 /EINPresswire.com/ — The global aircraft turbocharger market was valued at $659.8 million in 2020, and is projected to reach $1,195.3 million in 2030, registering a CAGR of 6.5%.
A turbocharger is a device that boosts the power and efficiency of a combustion engine by forcing more compressed air into the combustion chamber. Turbochargers are used in a variety of applications, including aviation, to increase the density of the intake gas, allowing for more power. Aircraft turbochargers are made up of three principal components, a compressor, a turbine, and a rotating center housing assembly. Aircraft turbocharger is genera used in aircraft manufactured by the leading brands across the globe.

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Companies covered in this report study:
• ABB Ltd.
• Airmark Overhaul, Inc.
• BorgWarner Inc.
• General Electric Company
• Hartzell Engine Technologies LLC
• Honeywell International Inc.
• Kawasaki Heavy Industries, Ltd.
• PBS Group, A.S.
• Rajay Parts LLC
• Victor Aviation Service, Inc.

The global aircraft turbocharger market is segmented into type, platform, component, and region. On the basis of type, the market is bifurcated into butterfly valve type and poppet valve type. Depending on platform, it is segregated into heavyweight aircraft and lightweight aircraft. By component, it is categorized into compressor, turbine, and waste gate. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
According to the yearly worldwide statistics of the International Civil Aviation Organization (ICAO), the total number of commuters carried on scheduled flights reached 4.38 billion in 2019, which was 3.65% higher than the previous year. The highest passenger traffic was witnessed in Asia-Pacific. In October 2018, the International Air Transport Association (IATA) publicized that the current developments in air transport project that the passenger count could double to 8.2 billion in 2037. The outbreak of the COVID-19 pandemic led to a severe downfall in air traffic figures, although recently, in May 2021, the International Air Transport Association (IATA) stated that the global air passenger traffic is anticipated to recover to almost 88% of pre-COVID levels during 2022. This signifies a robust demand for air travel across the globe.

The abovementioned statistics indicate a considerable rise in air passenger traffic over the years internationally. This rise would result in a notable surge in demand for new aircraft and new and overhauled aircraft components throughout the world, which would directly impact the sales of aircraft turbocharger systems. Hence, rise in air traffic is anticipated to drive the growth of the aircraft turbocharger market.
Aviation is a capital-intensive industry. Even a smallest part has to be tested and improved several times before it can be installed in an aircraft. This adds ups the cost of R&D for aircraft components. Moreover, manufacturers have to obtain a certificate by aviation agencies such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA)—prior to the production of aircraft parts, including turbochargers before fitting them in respective aircraft models. Turbochargers increase the fuel efficiency, and is a must for high fuel consuming aircraft engines that fly at thousands of feet above the ground. With rise in air passenger traffic, aircraft have to fly for longer hours now, the aircraft components get used up rapidly and must go through regular maintenance. Furthermore, aircraft turbochargers have to be inspected and refitted after proper maintenance work. This adds up to the high overall cost of an aircraft turbocharger operations. These factors are expected to affect the growth of aircraft turbocharger market during the forecast period.

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Key Benefits For Stakeholders
• This study presents analytical depiction of the global aircraft turbocharger market analysis along with the current trends and future estimations to depict imminent investment pockets.
• The overall aircraft turbocharger market opportunity is determined by understanding profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities of the global aircraft turbocharger market with a detailed impact analysis.
• The current aircraft turbocharger market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

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