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Aircraft Heat Exchanger Market Business Outlook, Emerging Trends, Segments Revenue Growth And Forecast By 2020

 The global aircraft heat exchanger market size is estimated to be USD 1.19 Billion in 2017 and is projected to reach USD 1.64 Billion by 2022, at a CAGR of 6.73% during the forecast period. North America is expected to be the largest market for aircraft heat exchangers from 2017 to 2022, followed by Europe. The growth of the aircraft heat exchanger market is mainly driven by the increasing deliveries of commercial aircraft and unmanned aerial vehicles worldwide and the rising demand for repair and maintenance of heat exchanger components.



Based on platform, the aircraft heat exchanger market has been segmented into fixed-wing aircraft, rotary-wing aircraft, and Unmanned Aerial Vehicles (UAVs). The fixed-wing aircraft segment has been further classified into commercial aviation, general aviation, and military aviation. The increase in the production of commercial aircraft worldwide is projected to drive the demand for aircraft heat exchangers, primarily in the fixed-wing aircraft segment.

Based on type, the aircraft heat exchanger market has been segmented into plate-fin and flat tube. Both, plate-fin and flat tube are compact heat exchangers mainly used in the aviation industry. The most common type of aircraft heat exchanger is the plate-fin heat exchanger, which operates on the simple mechanical principle of transferring heat between two fluids through plates and finned chambers. A high-intensity hot bleed air is passed through the heat exchanger, which is cooled by gases and fluids and returned to the cabin pressurization system. Plate-fin heat exchangers are used to stabilize the temperature inside the aircraft cabin.

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North America is the largest market for aircraft heat exchangers

North America is estimated to account for the largest share of the aircraft heat exchanger market in 2017. Countries considered for market analysis in this region include the US and Canada. The US is the leading market for aircraft heat exchangers in North America. Increasing deliveries of commercial aircraft and unmanned aerial vehicles in the US and Canada are contributing to the high demand for aircraft heat exchangers in the North American region. In addition, the presence of key manufacturers of heat exchangers in the US is another significant factor influencing the growth of the aircraft heat exchanger market in North America.

Major strategies adopted by leading market players include expansions, contracts & agreements, new product developments, and mergers & acquisitions. The strategy of expansions was the most commonly adopted strategy between 2012 and 2017. Key players have also adopted the strategy of mergers & acquisitions and contracts & agreements to strengthen their foothold in the aircraft heat exchanger market.

Liebherr-International (Germany) is one of the key players that offer thermal management systems and environmental control systems for both, military and civil aviation sectors. The company has a diversified product portfolio in the aircraft heat exchanger market. Its aerospace & transportation systems division develops, manufactures, and services aircraft flight control and actuation systems, landing gear systems, air management systems, onboard electronics, and gears and gearboxes for commercial aircraft, regional jets, business jets, military aircraft, and helicopters. As a part of its key growth strategy, the company is engaged in undergoing R&D activities, acquiring contracts, and establishing joint ventures to enhance its presence in the aircraft heat exchanger market. For instance, in November 2017, Liebherr-Aerospace, a business segment of Liebherr-International, established a new liaison office in Hamburg (Germany) to boost cooperation between the engineering and R&D teams of Liebherr and Airbus. 

Honeywell Aerospace (US) is another prominent player in the aircraft heat exchanger market. The company is engaged in the development of technologically-advanced products for various end-use industries. It provides aircraft heat exchanger components to major aircraft manufacturers and also caters to the diverse demands of its aftermarket clients. For instance, in 2015, Honeywell and 3D Systems Corporation (US) received a contract worth USD 1.3 million from the US Air Force to design and build an aircraft heat exchanger using the 3D printing technique.

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