Commercial Aircraft Auxiliary Power Unit Market - Emergence of 3D Printing to Boost Growth | Technavio
The global commercial aircraft auxiliary power unit market is expected to grow at a CAGR of more than 7% during the period 2017-2021, according to a new market research study by Technavio.
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Technavio has published a new market research report on the global commercial aircraft auxiliary power unit market 2017-2021 under their aerospace and defense library. (Graphic: Business Wire)
The report categorizes the global commercial aircraft auxiliary power unit market by application, which includes narrow-body aircraft, wide-body aircraft, and regional aircraft. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: rise in demand for procurement of new-generation aircraft
Commercial aircraft OEMs are actively engaged in the development of new-generation aircraft that feature both reduced fuel consumption and decreased noise and carbon emission. The year-over-year increase in air travel has also essentialized the induction of new aircraft to facilitate the growing demand. The increasing order book for newer-generation, fuel-efficient aircraft will remain a major propelling factor for the growth of the global commercial aircraft APU market during the forecast period.
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Market trend: emergence of 3D printing technology
3D printing can develop three-dimensional objects using computer-aided design (CAD) designs by adding material layer by layer. The process permits manufacturers to develop small components with increased accuracy. It also allows designers and engineers to manufacture parts with intricate geometries that can lead to a reduction in component weight when compared with the parts made using traditional methods.
According to Ramyabrata Chakraborty, a lead analyst at Technavio for aerospace components research, “3D printing allows designers and engineers to manufacture parts with intricate geometries that can lead to a reduction in component weight when compared with the parts made using traditional methods. The adoption of 3D printing in aerospace manufacturing is anticipated to reflect long-term sustainability while ensuring enhancement in the overall performance of a commercial aircraft APU.”
Market challenge: effects of carbon neutral target
Aerospace companies and airlines worldwide are aggressively promoting carbon-reducing procedures and energy-saving measures to control and manage greenhouse gas emissions, which have adverse environmental impacts. Increasing challenges arising from climate changes and global warming have compelled many countries to adopt stringent regulations to reduce carbon emissions.
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Key vendors in the market:
- Honeywell International
- Safran
- United Technologies Corporation
The global commercial aircraft auxiliary power unit market is highly competitive, and vendors compete based on cost, reliability, and quality of products. Therefore, it is crucial for the competing vendors to ensure cost-efficient and superior-quality APU engines that feature new-generation technologies. Vendors need to focus on developing superior quality APU engines and ensuring much-optimized engines and associated components at competitive pricing.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20171211005766/en/
