Aircraft Auxiliary Power Units Market size was over USD 3.17 billion in 2023 and is projected to exceed USD 5.02 billion by 2036, witnessing over 3.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of aircraft auxiliary power units is assessed at USD 3.26 billion.
In the modern years, aircraft auxiliary power units market has been performing well and is expected to continue growing significantly in future. There is a huge competition among the manufacturers over the advanced technology being used in order to manufacture the auxiliary power units, which is projected to be beneficial for market growth in the coming years. Furthermore, some major factors such as increasing aircraft demand, from both, commercial as well as defense sector, and the rising need for producing aircraft with less noise, high fuel efficiency and carbon emissions are assessed to boost the market development in the forecasted time. The United States is one of the largest exporters of aircrafts in the world, and is responsible for exporting airplanes worth more than USD 135 billion by the end of 2020.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
3.6% |
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Base Year Market Size (2023) |
USD 3.17 billion |
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Forecast Year Market Size (2036) |
USD 5.02 billion |
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Regional Scope |
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The aircraft auxiliary power units market is segmented by end user into military aircrafts, commercial aircrafts and general aviation, out of which, the commercial aircraft segment is anticipated to hold the largest market share during the forecast period owing to the growing number of orders of commercial aircrafts across the world, and rise in passenger air traffic. For instance, the air traffic in 2018 was calculated to be approximately 4.4 billion people. The number up to 4.6 billion in the following year. Additionally, increasing number of commercial planes is evaluated to drive growth to the market segment in the near future. Moreover, on the basis of aircraft type, the segment for fixed wing aircrafts is estimated to occupy the largest market share, which can be credited to its properties such as longer flight time and the ability to map linear or very large areas.
Our in-depth analysis of the global market includes the following segments
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By Aircraft Type |
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By Product |
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By End User
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North America Market Statistics
On the basis of regional analysis, the global aircraft auxiliary power units market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is likely to account for largest revenue share by 2036, on the back of rising number of manufacturers of aircraft auxiliary power units as well as increasing implementation of noise control mandates at the airports by government authorities in the region.
APAC Market Analysis
Furthermore, Asia Pacific is projected to witness significant aircraft auxiliary power units market growth over the upcoming years ascribing to the rising demand for auxiliary power units for military and commercial aircrafts. Additionally, growing population along with high productivity attained in the industry are expected to drive market growth in the region. In 2018, Asia’s total population was an estimated value of 4.57 billion people. The figure grew up to 4.65 billion by 2020.
Author Credits: Dhruv Bhatia
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