North America aircraft heat exchanger market in is expected to grow from US$ 633.4 Mn in 2018 to US$ 1,101.7 Mn by the year 2027. This represents a CAGR of 6.4% from the year 2018 to 2027.
In the year 2018, the global aerospace industry has experienced a solid year as passenger travel demand strengthened, and global aerospace expenditure continued to rise. The aerospace industry is anticipated to continue its growth trajectory in 2019, led by increasing commercial aircraft production and strong aerospace spending. According to the Aerospace Industries Association (AIA), in the year 2017, the government of the U.S. spends on research and development on aerospace and defense was totaled US$ 83.9 Bn. Also, the industry's commercial aerospace sector saw its increase in the year 2017, compelled by higher shipments of commercial aircraft and general aviation aircraft. Thus, due to the rapid rise in the aerospace industry, several aircraft manufacturers can benefit from the growing spending in the sector to design and manufacture advanced aircraft heat exchangers. This factor drives the aircraft heat exchanger market.
Due to the support and involvement of the government in various potential regions such as North America, Europe, and the Asia Pacific in the demand and supply of aerospace products, the aerospace industry has set itself on the secure path towards a transformational change. The transformational change leads toward the progression of the aerospace industry as, the industry is developing in the export-oriented sector, with the potential to provide superlative opportunities for established companies in the aircraft heat exchanger market. Many major companies which design and manufactures aircraft heat exchangers have the opportunity to expand its business in developing countries such as Mexico, Thailand, Malaysia, and others and gain a strong position in aircraft heat exchanger market. Therefore, growing aviation sector is aiding the growth of aircraft heat exchanger market in developing regions.
The North America aircraft heat exchanger market by type is segmented into the flat tube, plate-fin. Plate fin holds a significant share of the aircraft heat exchangers market and is expected to grow at a good growth rate in the near future. Heat exchangers play an important role in the design and operations of several machines such as power generators, heating systems, air conditioning systems, vehicles, oil rigs, refrigerators, and several engineering processing systems. Relying on the overall function and location, heat exchangers come in two common types such as a flat tube, plate-fin heat exchanger. Plate-fin heat exchangers vary in terms of structure, but this type utilizes the same concepts of thermodynamics.
The overall aircraft heat exchanger market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America aircraft heat exchanger market. It also provides the overview and forecast for the North America aircraft heat exchanger market based on all the segmentation provided with respect to the North America region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the North America aircraft heat exchanger industry. Some of the players present in North America aircraft heat exchanger market are BOYD Corporation, Collins Aerospace, Honeywell International Inc., Jamco Corporation, Liebherr Group, Meggit Plc, TAT Technologies Inc., Triumph Group, Wall Colmonoy, Woodward Inc.