Jul 28, 2017
10 Key Projections from Fact.MR’s Report on Automotive Aerospace Filter Market
by Team Fact.MR
Fact.MR, in its latest research, anticipates the global automotive aerospace filter market to expand at 7.4% CAGR throughout the forecast period 2017 to 2022. Revenues from the global automotive aerospace filter market is projected to increase from US$ 7,141.1 Mn in 2017 to surpass US$ 10,000 Mn by 2022-end.
Filters have become an indispensable part of modern aircrafts. Aerospace filters are utilized for provision of clean air to passengers, enhancing efficiencies & performance of aircrafts, and maintenance of an aircraft’s quality life. With increasing disposable income of rapidly expanding population around the world, particularly in developing economies, coupled with robust growth of the aerospace industry, demand for aircrafts will witness a significant rise in the upcoming years. These factors are expected to boost demand for variety of aerospace filters, which in turn will drive growth of the global automotive aerospace filter market.
Various regulations related to emission standards, and environment safety have been imposed by regulatory bodies, and these regulations are becoming more severe. For instance, the Environmental Protection Agency (EPA), and the International Civil Aviation Organization (ICAO) have been developing regulations, in a bid to reduce carbon emissions from aircrafts. These regulations have compelled manufacturers of aircrafts in developing and integrating advanced filters into aircraft engines, hydraulic systems, and cabins. These incidences are further expected to fuel expansion of the global market for automotive aerospace filters.
10 Prospects of the Global Automotive Aerospace Filter Market
- By product type, liquid filters will remain sought-after in the global automotive aerospace filter market, with sales estimated to witness a steady expansion through 2022.
- Sales of air filters in aircrafts will continue to exhibit the highest CAGR in the market throughout the forecast period.
- Asia Pacific excluding Japan (APEJ) will continue to be dominant in the global market for automotive aerospace filters, registering an impressive expansion through 2022.
- Between 2017 and 2022, the market for aerospace automotive filters in APEJ is anticipated to create absolute $ opportunity of around US$ 1,200 Mn.
- Automotive aerospace filter markets in APEJ and North America are estimated to register similar CAGRs through 2022.
- Europe will continue to be the second most lucrative market for automotive aerospace filters over the forecast period.
- Aerospace filters will continue to witness the largest adoption for application in aircraft engines. By 2022-end, sales of aerospace filters for application in engines is estimated to account for over half share of the market, in terms of revenues.
- Sales of aerospace filters in the aircraft’s cabin and hydraulic systems will continue to exhibit lower CAGRs as compared to that in aircraft engines over the forecast period.
- Military end-use segment will remain dominant in the global market for automotive aerospace filters. Sales of aerospace filters in military aircrafts is expected to hold the largest revenue share of the market by 2022-end, reflecting the highest CAGR through 2022.
- Key market players listed in the report include Donaldson Company, Inc., Amphenol Corporation, Freudenberg & Co. KG, Swift Filters, Inc., Honeywell International Inc, Porvair plc, Mott Corporation, Parker-Hannifin Corporation, Pall Corporation, and Hollingsworth & Vose Company.