Aerospace Filter Market Overview
The global aerospace filter market will expand 2X in terms of value, and is foreseen to witness a steady growth rate of over 7% during the forecast period of 2020-2030. The spread of COVID-19 is leading to considerable restrictions at airports, globally.
As a result, airports across the world are facing a cash crunch, since revenues are directly linked to traffic levels. This is posing challenges for airline operators to efficiently operate and maintain their aircraft, thereby impacting the expansion of the aerospace filter market size.
However, focus on increasing the safety of operations and prevention of aircraft damage has pushed operators to continuously upgrade aircraft components. In addition, concerns regarding passenger safety coupled with increasing government spending on military aircraft across several countries is anticipated to create a plethora of opportunities for players operating in the aerospace filter market space.
Aerospace Filter Market Analysis by Product
Aerospace filters are used for superior air filtration in order to enhance the performance and efficiency of aircraft. Engine air intake filters are expected to be a prominent segment among all the products. These filter keeps dirt and debris from entering the engine, and have the capacity to trap 80-99% of particles.
Moreover, regulations associated with environment safety and emission standards imposed by regulatory bodies are expected to drive the sales of engine air intake filters, as they ensure proper air flow, thereby resulting in reduced emissions. Owing to this, it is estimated that, the market for engine air intake filters will account for nearly 18% of the overall value opportunity during the forecast period of 2020-2030.
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Aerospace Filter Market Analysis by End Use
Among the end use segments, filter installed in military aviation are expected to capture more than 48% of the market share in 2020. Demand for military aircraft has risen due to increased spending on the defense sector across different developed and developing economies such as the U.S., China, India, and Russia.
In addition, rising demand for military UAVs and increasing emission regulations are likely to propel the growth of the aerospace filter market. Further, the need to replace filters in military aircraft is high as compared to other end uses. This, in turn, is pushing the demand for aerospace filters in military aircraft, which is foreseen to bolster market growth.
On the other hand, growth of international travel, competitive pricing of air travel fare by airlines, and higher disposable income are contributing to consumer preference for air travel. This is influencing airline carriers to deploy new commercial aircraft, and, in turn, driving the growth of the aerospace filter market. On account of these facts, commercial aviation will account for 1/3 of the aerospace filter market share.
Regional Outlook of Aerospace Filter Market
APEJ is expected to hold 1/3 of the overall market value, followed by Europe. Growth in the number of air passengers has proliferated owing to the liberalization of markets and growth in wealth, coupled with lack of alternative modes of transport. This, in turn, has resulted in significant rise in aviation traffic, thereby creating demand for new aircraft.
Aircraft manufacturers such as Airbus and Boeing are increasing their production capacity to deliver more aircraft to clients in APEJ. This is expected to pave significant opportunities for aerospace filter manufactures to expand their market presence in the APEJ region during the forecast period. In Fact.MR’s report, APEJ is anticipated to create an absolute dollar opportunity of US$ 2.1 Bn during the forecast period.
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Aerospace Filter Market: Competitive Landscape
Prominent players are continuously focusing on acquisition as their key strategy to strengthen their market presence, increase business operations, and bump up their share in the market. Some of the players in the aerospace filter market are Donaldson Company, Inc., Freudenberg & Co. KG, Honeywell International Inc., and Parker-Hannifin Corporation, among others.
For instance, in 2019, Parker Hannifin Corporation acquired Exotic Metals Forming Company, which manufactures innovative and technically-demanding, high temperature, high pressure air and exhaust management solutions for aircraft and engines. Through this acquisition, the company will expand its aerospace business products and solutions.
COVID-19 Impact on Aerospace Filter Market
The COVID-19 outbreak has become a global crisis in 2020, and has affected aviation industry business in terms of revenue, traffic, and connectivity. Airline operators have been mostly affected as they are unable to recover their capital and operating costs due to flight cancellations. This has created a unique set of threats to airport operations and is impeding continuous development, thereby also impacting the sales of aerospace filters.
Moreover, manufacturing and supply chain activities are not permissible, which has resulted in low cash flow among industry players. This has resulted in a marginal decline in the sales of aircraft components, and has had a severe impact on the aerospace filter market. As per a recent report published by Fact.MR, it is estimated that, the aerospace filter market demand curve will start showing positive signs by the end of 2021.
The Analyst’s Viewpoint
“Unforeseen effects of the COVID-19 pandemic have resulted in declining air traffic, globally, which, in turn, is slowing down the growth of the aerospace filter market. With no near-term resolution in sight, demand for aerospace filters will remain sluggish at least until the end of 2020.”
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Global Aerospace Filter Market: Scope of the Report
The recent global aerospace filter market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities, and threats to the expansion of the global aerospace filter market. A detailed segmental analysis, based on product, filter media, aircraft, end use, and sales channel has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global aerospace filter market. In addition, a separate section on the market structure has also been provided. The section provides detailed analysis of key market players and their strategies for expansion in the global aerospace filter market.
Key Segments of Aerospace Filter Market
Fact.MR’s study on the aerospace filter market offers information divided into five key segments-product, filter media, aircraft, end use, sales channel, and region. This report offers comprehensive data and information about important the market dynamics and growth parameters associated with these categories.
- Cabin Air Filters
- Avionics Filters
- Hydraulic Filters
- Engine Air Intake Filters
- Fuel Filters
- Oil & Lube Filters
- Metal Mesh
- Pleated Paper
- Others (Polymers, Fibers)
- Narrow Body Aircraft
- Wide Body Aircraft
- Regional Body Aircraft
- Rotary Wing
- Commercial Aviation
- Business Aviation
- Military Aviation
- North America
- Latin America
Aerospace Filter Market - Scope Of The Report
Fact.MR recently published a market study on the global market for aerospace filters. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the aerospace filter market structure. The market study presents exclusive information about how the aerospace filter market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the aerospace filter market for the forecast period.
The study is relevant for stakeholders in the aerospace filter market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the aerospace filter market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the aerospace filter market. It also offers actionable insights based on the future trends in the aerospace filter market. Furthermore, small businesses and new entrants in the aerospace filter market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Aerospace Filter Market Report
- Which regions will continue to remain the most profitable regional markets for aerospace filter market players?
- Which factors will induce a change in the demand for aerospace filters during the assessment period?
- How will changing trends impact the aerospace filter market?
- How can market players capture the low-hanging opportunities in the aerospace filter market in developed regions?
- Which companies are leading the aerospace filter market?
- What are the winning strategies of stakeholders in the aerospace filter market to upscale their position in this landscape?
Aerospace Filter Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the aerospace filter market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the preparation of the aerospace filter market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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