Visiongain has published a new report on Auxiliary Power Unit Market: Forecasts by Type (Gas Turbine, APU, Fuel Cell APU, Electronically controlled APU), by Application (Commercial, Military), by Platform (Fixed Wing, Rotary Wing), by Aircraft Type (Narrow Body, Wide Body, Very Large Body, Regional Transport, Fighter Jets, Commercial Helicopters, Military Helicopters) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The growth of this market can be attributed to necessity to reduce aircraft fuel consumption, increasing focus on more electric aircraft and huge demand for aircraft from emerging economies. Aircraft fuel is one of the major operational costs for aircraft operator and airlines. The aviation industry is looking toward reducing aircraft fuel consumption and to reduce cost as well as reduce carbon emissions. With the growing necessity to reduce aircraft fuel consumption, it is expected that APU market will grow significantly during the forecast period.
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In a more electric aircraft, the electrical system is adopted to replace the pneumatic, hydraulic, and mechanical systems. With the adoption of more electric aircraft, the need for high density batteries will also increase. Hence, increasing focus on more electric aircraft is expected to drive the APU market during the forecast period.
With the increase of air passenger traffic across the globe, particularly Asia Pacific and Middle East, it is anticipated that these regions will be creating a huge demand for aircraft in the next couple of decades. This demand for aircraft from emerging economies may attribute to the growth of APU market.
COVID-19 Impact on APU Market
Due to Covid-19, the international trade and tourism has dropped significantly, and the market is expected to recover its stability slowly over the next two to three years. As the international trade and commerce business sector is witnessing sluggish growth, the demand for commercial aircraft video surveillance systems is expected to slow down during the first half of the forecast period till 2022. Airbus and Boeing have shut down some of their production facilities during the pandemic. Moreover, airlines have also not ordered any new aircraft during the pandemic.
How the Auxiliary Power Unit Market report helps you
In summary, our 160+ page report provides you with the following knowledge:
- Revenue forecasts to 2031 for Auxiliary Power Unit Market, with forecasts for By Type, By Application, By Platform and By Aircraft Type, each forecasted at a global and regional level- discover the industry’s prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2031 for 5 regional and 17 key national markets – See forecasts for the Auxiliary Power Unit market in North America, Europe, Asia-Pacific and Rest of the World. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market- including company profiles for 10 of the major companies involved in the Auxiliary Power Unit Market.
The players operating in the APU market are focusing on developing advanced batteries to cater to the demand of enhanced aircraft performance. Some of the company’s profiled in this report include Honeywell Inc, Safran Group, Hamilton Sundstrand, The Marvin Group, Pratt & Whitney, PBS Group, ASP-Equipment GmbH, Motor Sich JSC, Technodinamika JSC, and Ivchenko-Progress.
- In June 2017, Honeywell received a contract worth USD 100 million from VietJet Air for 98 auxiliary power units for the airliner’s new fleet of Airbus A320 aircraft. This contract will run through 2022 and includes maintenance servicing for 12 years. Honeywell previously has supplied VietJet Air with auxiliary power units (APUs) across the airline’s entire fleet of 135 Airbus A320s.
- In June 2018, Boeing and Safran entered into an agreement to jointly design, build and service Auxiliary Power Units (APUs). Both companies have a 50 percent stake in the partnership.
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