LONDON, March 22, 2017 /PRNewswire/ -- The aerospace filters market is projected to grow from an estimated USD 6.73 billion in 2016 to USD 10.11 billion by 2022, at a CAGR of 7% during the forecast period. The aerospace filters market is mainly driven by the increase in aircraft orders and shorter replacement cycles of aerospace filters. However, existing backlogs in aircraft deliveries is restraining the growth of the aerospace filters market.
"The engine segment is estimated to be the largest application segment of the market in 2016"
The aerospace filters market has been segmented on the basis of application into hydraulic system, engine, avionics, cabin, and others. Among these, the engine segment is estimated to be the largest in 2016. Fuel and oil filters help the operation of the engine at optimum efficiency and provide it a longer life by offering cleaner fuel and oil. Thus the engine segment is driving the aerospace filters market.
"The military segment is estimated to be the largest end-use segment of the market in 2016"
Based on end-use, the military segment is estimated to have accounted for the largest share of the aerospace filters market in 2016. Rise in the number of military aircraft is projected to drive the aerospace filters market. Also the shorter replacement cycle than that for commercial passenger aircraft has resulted in a larger demand from the military application segment in the aerospace filters market.
"Asia-Pacific region is estimated to be the largest market aerospace filters in 2016"
The Asia-Pacific region is estimated to have accounted for the largest share of the aerospace filters market in 2016, and the countries considered in the region are China, India, Russia, and Japan, among others. The aviation industry in the Asia-Pacific region has witnessed considerable growth over the past few years, owing to an increase in the passenger traffic, attractive tourist destinations, and the upgradation of existing airport infrastructure. In addition to this, countries from this region are emerging and have an increasing demand for aircraft deliveries due to the higher number of flight hours as a result of tourism. The higher demand for aircraft is leading to an increase in the demand for aerospace filters, and leading manufacturers, such as Donaldson, Inc. (U.S.) are focusing on increasing their market shares in the region. Thus the Asia-Pacific region is projected to be the fastest-growing market for aerospace filters market, due to the growth of the region's aviation industry, which is supported by the increasing air passenger traffic.
Break-up of profile of primary participants in the aerospace filters market:
- By Company Type - Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
- By Designation – C level – 35%, Director level – 25%, Others – 40%
- By Region – North America - 45%, Europe – 20%, Asia-Pacific – 30%, RoW – 5%
Major companies profiled in the report include Parker Hannifin Corporation (U.S.), Pall Corporation, Donaldson, Inc. (U.S.), CLARCOR, Inc. (U.S.), and Freudenberg & Co. KG (Germany), among others.
This research report categorizes the aerospace filters market on the basis of type (air filters and liquid filters), application (hydraulic system, engine, avionics, cabin, and others), end use (military, commercial, business, and others), platform (fixed wing and rotary wing), aircraft type (narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft), and consumption (OEM and aftermarket); and maps these segments and subsegments across major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information about aerospace filters offered by the top players in the market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aerospace filters market
- Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for aerospace filters across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aerospace filters market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aerospace filters market
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