Aftermarket Sales of Aerospace Filters are Expected to Grow 2.1X than OEM Sales by the End of 2030
Aftermarket Sales of Aerospace Filters are Expected to Grow 2.1X than OEM Sales by the End of 2030
Published by top news
Posted on August 4, 2021
The global sales of aerospace filter is estimated to be valued at US$ 6.6 Bn in 2020, and surpass US$ 13 Bn by the end of the forecast period (2020-2030). Presently, the spread of COVID-19 has affected the aviation industry, as suppliers in the market are seeing a steep fall in their profits with flights were grounded, resulting in declining sales of aerospace filters. Further, the International Air Transport Association (IATA) estimates that, the industry will require a cash infusion of nearly US$ 200 Bn to keep going. The capital-intensive nature of the industry has raised concerns about cash flow and liquidity, which, in turn, is hampering the growth of the aerospace filter market.
However, regulations associated with environment safety and emission standards imposed by regulatory bodies have become more severe. For example – both, the International Civil Aviation Organization (ICAO) and the Environmental Protection Agency (EPA) are formulating regulations with an aim to lower carbon emissions from commercial planes. This is expected to boost the demand of aerospace filters during the forecast period. Further, with geopolitical tensions escalating rapidly, demand for military aircraft is expected to ramp up. Thus, surge in demand from the U.S., India, and China for military aircraft is expected to create growth avenues for aerospace filter manufacturers during the forecast duration.
“The COVID-19 pandemic has hit the aerospace filter market adversely on the supply and demand side, causing a decline in sales. Post COVID-19, rise in passenger air traffic and growing airline fleets are foreseen to open new growth avenues for stakeholders in the aerospace filter market,”says a Fact.MR analyst.
Key Takeaways from Aerospace Filter Market Study
The global aerospace filter market is estimated to create an absolute $ opportunity of more than US$ 6.5 Bn and contribute a value CAGR of 7% during the forecast period of 2020-2030
By product, oil & lube filters will hold maximum share in terms of value, accounting for nearly 1/4 of the total market share, and are projected to be valued at US$ 3 Bn by the end of forecast period.
By region, APEJ is projected to hold maximum share in the global aerospace filter market, and is expected to surpass a market valuation of US$ 4 Bn by the end of 2030.
By sales channel, aftermarket sales of aerospace filters are expected to grow 2.1X than OEM sales by the end of 2030.
By aircraft, narrow body aircraft are projected to grow at a CAGR of 6.3%, and are anticipated to create an absolute $ opportunity of more than US$ 2.2 Bn during the forecast period.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
The global sales of aerospace filter is estimated to be valued at US$ 6.6 Bn in 2020, and surpass US$ 13 Bn by the end of the forecast period (2020-2030). Presently, the spread of COVID-19 has affected the aviation industry, as suppliers in the market are seeing a steep fall in their profits with flights were grounded, resulting in declining sales of aerospace filters. Further, the International Air Transport Association (IATA) estimates that, the industry will require a cash infusion of nearly US$ 200 Bn to keep going. The capital-intensive nature of the industry has raised concerns about cash flow and liquidity, which, in turn, is hampering the growth of the aerospace filter market.
However, regulations associated with environment safety and emission standards imposed by regulatory bodies have become more severe. For example – both, the International Civil Aviation Organization (ICAO) and the Environmental Protection Agency (EPA) are formulating regulations with an aim to lower carbon emissions from commercial planes. This is expected to boost the demand of aerospace filters during the forecast period. Further, with geopolitical tensions escalating rapidly, demand for military aircraft is expected to ramp up. Thus, surge in demand from the U.S., India, and China for military aircraft is expected to create growth avenues for aerospace filter manufacturers during the forecast duration.
“The COVID-19 pandemic has hit the aerospace filter market adversely on the supply and demand side, causing a decline in sales. Post COVID-19, rise in passenger air traffic and growing airline fleets are foreseen to open new growth avenues for stakeholders in the aerospace filter market,”says a Fact.MR analyst.
Key Takeaways from Aerospace Filter Market Study
The global aerospace filter market is estimated to create an absolute $ opportunity of more than US$ 6.5 Bn and contribute a value CAGR of 7% during the forecast period of 2020-2030
By product, oil & lube filters will hold maximum share in terms of value, accounting for nearly 1/4 of the total market share, and are projected to be valued at US$ 3 Bn by the end of forecast period.
By region, APEJ is projected to hold maximum share in the global aerospace filter market, and is expected to surpass a market valuation of US$ 4 Bn by the end of 2030.
By sales channel, aftermarket sales of aerospace filters are expected to grow 2.1X than OEM sales by the end of 2030.
By aircraft, narrow body aircraft are projected to grow at a CAGR of 6.3%, and are anticipated to create an absolute $ opportunity of more than US$ 2.2 Bn during the forecast period.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583
