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2021

Aircraft Turbocharger Market

Aircraft Turbocharger Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Butterfly Valve Type and Poppet Valve Type), Platform (Heavyweight Aircraft and Lightweight Aircraft), and Component (Compressor, Turbine, and Waste Gate): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Himanshu Joshi | Sonia Mutreja
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Aircraft Turbocharger Market Statistics 2021-2030:

The global aircraft turbocharger market was valued at $659.8 million in 2020, and is projected to reach $1,195.3 million in 2030, registering a CAGR of 6.5%.    

A turbocharger is a device that boosts the power and efficiency of a combustion engine by forcing more compressed air into the combustion chamber. Turbochargers are used in a variety of applications, including aviation, to increase the density of the intake gas, allowing for more power. Aircraft turbochargers are made up of three principal components, a compressor, a turbine, and a rotating center housing assembly. Aircraft turbocharger is genera used in aircraft manufactured by the leading brands across the globe. 

Aircraft-Turbocharger-Market-2021-2030

The global aircraft turbocharger market is segmented into type, platform, component, and region. On the basis of type, the market is bifurcated into butterfly valve type and poppet valve type. Depending on platform, it is segregated into heavyweight aircraft and lightweight aircraft. By component, it is categorized into compressor, turbine, and waste gate. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global aircraft turbocharger market include ABB Ltd., Airmark Overhaul, Inc., BorgWarner Inc., General Electric Company, Hartzell Engine Technologies LLC, Honeywell International Inc., Kawasaki Heavy Industries, Ltd., PBS Group, A. S., Rajay Parts LLC, and Victor Aviation Service, Inc. 

Aircraft Turbocharger Market
By Turbocharger Type
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Butterfly Valve Type is projected as the most lucrative segments

Increase in air passenger traffic across the globe

According to the yearly worldwide statistics of the International Civil Aviation Organization (ICAO), the total number of commuters carried on scheduled flights reached 4.38 billion in 2019, which was 3.65% higher than the previous year. The highest passenger traffic was witnessed in Asia-Pacific. In October 2018, the International Air Transport Association (IATA) publicized that the current developments in air transport project that the passenger count could double to 8.2 billion in 2037. The outbreak of the COVID-19 pandemic led to a severe downfall in air traffic figures, although recently, in May 2021, the International Air Transport Association (IATA) stated that the global air passenger traffic is anticipated to recover to almost 88% of pre-COVID levels during 2022. This signifies a robust demand for air travel across the globe.

The abovementioned statistics indicate a considerable rise in air passenger traffic over the years internationally.  This rise would result in a notable surge in demand for new aircraft and new and overhauled aircraft components throughout the world, which would directly impact the sales of aircraft turbocharger systems. Hence, rise in air traffic is anticipated to drive the growth of the aircraft turbocharger market.  

Aircraft Turbocharger Market
By Platform
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Heavyweight Aircraft is projected as the most lucrative segments

Surge in demand for fuel-efficient and downsized engine

Aircraft turbochargers function as an air pump, forcing compressed air into the combustion chamber to increase the mass of the intake air. When the piston is lowered and the engine receives air, the vacuum is created. As the turbocharger forces the intake air, the pressure inside the inlet manifold rises above atmospheric pressure throughout this operation. This may pump a lot of power into the engine, which helps in proper combustion, and results in cutting down on fuel consumption and CO2 emissions when compared to a normally aspirated engine with the same power output. Hence, surge in demand for force induction device is projected to drive the growth of aircraft turbocharger market during the forecast period.

High costs associated with aircraft turbochargers

Aviation is a capital-intensive industry. Even a smallest part has to be tested and improved several times before it can be installed in an aircraft. This adds ups the cost of R&D for aircraft components. Moreover, manufacturers have to obtain a certificate by aviation agencies such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA)—prior to the production of aircraft parts, including turbochargers before fitting them in respective aircraft models. Turbochargers increase the fuel efficiency, and is a must for high fuel consuming aircraft engines that fly at thousands of feet above the ground. With rise in air passenger traffic, aircraft have to fly for longer hours now, the aircraft components get used up rapidly and must go through regular maintenance. Furthermore, aircraft turbochargers have to be inspected and refitted after proper maintenance work. This adds up to the high overall cost of an aircraft turbocharger operations. These factors are expected to affect the growth of aircraft turbocharger market during the forecast period.

Aircraft Turbocharger Market
By Component
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Compressor is projected as the most lucrative segments

Increase in operations in commercial aviation

The commercial aviation industry consists of two segments, including passenger aircraft and cargo aircraft. In recent years, both segments have performed really well and has witnessed a rapid rise in operations, which have boosted the global commercial aviation industry. With globally rising air passenger traffic, the industry has seen a surge in market growth, which holds huge prospects, however, the unprecedented occurrence of COVID-19 pandemic has affected the industry in terms of revenue growth.

Key aviation players around the world are finding ways to make aviation sector more efficient, safer, and reliable. Hence, rapid development has been witnessed in the commercial aircraft industry in the recent years. According to the Boeing’s Commercial Market Outlook (CMO) 2020–2039, the 2021 CMO reflects that the global market is recovering rapidly. Surge in demand for domestic air travel is responsible for the recovery of the airliner industry amid ongoing COVID-19 pandemic, and intra-regional markets are expected to open with full capacity, as health and travel restrictions ease, followed by return to pre-pandemic levels by 2023 to 2024 with respect to long-haul travel scenario. It mentions that in long term, market fundamentals and resilience will drive the demand for more than 43,500 new airplanes valued at $7.2 trillion by 2040. Thus, all these factors collectively are expected to fuel the growth of the aircraft turbocharger market during the forecast period.

Aircraft Turbocharger Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit the highest CAGR of 7.4% during 2021-2030.

COVID-19 impact analysis 

  • The COVID-19 impact on the aircraft turbocharger market is unpredictable, and is expected to remain in force till the second quarter of 2021. 
  • The COVID-19 outbreak forced the governments to impose stringent lockdown measures that resulted in flight cancellations and ban on e-commerce services, which led to massive decline in commercial aviation and logistics activities across the world. 
  • Moreover, nationwide lockdown disrupted the supply chains, as several manufacturing facilities across the globe had to partially or fully shut down their operations.
  • The adverse impacts of the COVID-19 pandemic resulted in huge supply–demand issues and resulted in long delays in the activities of aircraft turbocharger operations globally.

Key Benefits For Stakeholders

  • This study presents analytical depiction of the global aircraft turbocharger market analysis along with the current trends and future estimations to depict imminent investment pockets.
  • The overall aircraft turbocharger market opportunity is determined by understanding profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities of the global aircraft turbocharger market with a detailed impact analysis.
  • The current aircraft turbocharger market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Key Market Segments

By Turbocharger Type

  • Butterfly Valve Type
  • Poppet Valve Type

By Platform

  • Heavyweight Aircraft
  • Lightweight Aircraft

By Component

  • Compressor
  • Turbine
  • Waste Gate    

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Players

  • ABB Ltd.
  • Airmark Overhaul, Inc.
  • BorgWarner Inc.
  • General Electric Company
  • Hartzell Engine Technologies LLC
  • Honeywell International Inc.
  • Kawasaki Heavy Industries, Ltd.
  • PBS Group, A.S.
  • Rajay Parts LLC 
  • Victor Aviation Service, Inc.

Aircraft Turbocharger Market Report Highlights

Aspects Details
Aircraft Turbocharger Market By TURBOCHARGER TYPE
By TURBOCHARGER TYPE
  • Butterfly valve type
  • Poppet valve type
Aircraft Turbocharger Market By PLATFORM
By PLATFORM
  • Heavyweight aircraft
  • Lightweight aircraft
Aircraft Turbocharger Market By COMPONENT
By COMPONENT
  • Compressor
  • Turbine
  • Waste Gate
Aircraft Turbocharger Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

HONEYWELL INTERNATIONAL INC., AIRMARK OVERHAUL, INC., BORGWARNER INC, RAJAY PARTS LLC, PBS GROUP, A. S., GENERAL ELECTRIC COMPANY, ABB LTD, KAWASAKI HEAVY INDUSTRIES, LTD., VICTOR AVIATION SERVICE, INC., HARTZELL ENGINE TECHNOLOGIES LLC

Analyst Review

The global aircraft turbocharger market is expected to witness significant growth, due to surge in air traffic along with fuel-efficiency improvement and increase in initiatives for making aircraft engines more efficient.

In addition, increase in air passenger traffic across the globe and surge in demand for fuel-efficient and downsized engine are expected to drive the aircraft turbocharger market during the forecast period. However, high costs associated with aircraft turbochargers is one of the major factors that are anticipated to hamper the growth of the market. Moreover, increase in operations in the commercial aviation is expected to offer lucrative opportunities for the market in future.

To gain a fair share of the market, major players adopted different strategies, for instance, business expansion, product development, and product launch. Among these, product development is the leading strategy used by prominent players such as General Electric Company, Hartzell Engine Technologies LLC, Honeywell International Inc., and Kawasaki Heavy Industries, Ltd. Aforementioned companies designed cutting-edge aircraft turbochargers to offer efficient products to expand their business.

Author Name(s) : Himanshu Joshi | Sonia Mutreja
Frequently Asked Questions?

By turbocharger type, the aircraft turbochargers have been categorised into butterfly valve type and poppet valve type

The global aircraft turbocharger market valued at $659.81 million in 2020, and is projected to reach $1,195.32 million by 2030, registering a CAGR of 6.5% from 2021 to 2030

The report sample for global aircraft turbocharger market report can be obtained on demand from the website

Increasing government investment in aviation industry and growing market for turbochargers for aircraft application across potential regions

Driven by factors such as increase in air passenger traffic across the globe and growing demand for fuel efficient and downsized engine, the aircraft turbocharger market is expected to register a significant growth during the forecast period

The company profiles of the top players of the market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the industry along with their last three-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue generated

By platform, the heavyweight aircraft segment is expected to gain traction during the forecast period

The U.S. and China are key matured markets growing in the global aircraft turbocharger market

Increase in operations in the commercial aviation; and the high costs associated with aircraft turbochargers

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Aircraft Turbocharger Market

Global Opportunity Analysis and Industry Forecast, 2021-2030