Aircraft Exhaust Systems Market size is poised to grow with a lucrative CAGR from 2023 to 2032, attributed to the rising domestic and international travel by passengers. The increasing demand for aircraft has consequently increased the requirement for essential aviation parts like exhaust systems. These systems help in decreasing noise while venting exhaust gases away from the engine and fuselage. They provide the required heat for the cabin and the carburetor indirectly.
The growing efforts to improve flight efficiency along with the implementation of strict emission rules would fuel market expansion. Furthermore, strict regulatory environment pertaining to the safety features of aircraft exhaust systems would improve the market.
On the basis of aircraft type, the aircraft exhaust systems market from the military aircraft segment is predicted to account for a substantial market. This growth can be attributed to the significant investments by governments worldwide in the defense sector. For instance, in 2021, the Royal Air Force said it would spend about USD 529.28 million to upgrade the capabilities of its C-17 Globemaster aircraft, and the CH-47 Chinook helicopter.
As per the geographical outlook, the Asia Pacific aircraft exhaust systems market is anticipated to expand at a decent rate between 2023 and 2032, largely due to a significant increase in the number of air passenger in the region. The growing investment in the aviation sector would drive the purchase of new passenger aircraft by airline companies. For instance, in March 2023, Boeing announced that it is close to finalizing an order with Japan Airlines for around 20 of its 737 Max planes.
Aircraft exhaust systems market from the engine exhaust system segment is predicted to see exponential growth by 2032. As per the data, the British Aviation Group predicts that the commercial aircraft fleet will reach 49,405 by 2040 increasing from 25,900 in 2019. It is essential for defrosting the windscreen, expelling the consumed combustion gases overboard, and heating the cabin.
Nexcelle (MRA Systems, Inc., SAFRAN NACELLES SAS), Magellan Aerospace (Fleet Aircraft), Esterline Technologies (TransDigm Group, TransDigm Inc.), Documman, Triumph Group, Frank Industries, Senior Aerospace, GKN (Melrose Industries plc), and Nordam are. major companies operating in the aircraft exhaust systems market. These industry leaders are investing in R&D to create new technologies related to exhaust systems in order to grow their market presence.
The Russia-Ukraine war is expected to impact the aircraft exhaust systems business to some extent. The crises has led to global demand and supply chain disruption. Moreover, the war has led to s rise in fuel prices which has influence air travel prices. The pressure on price variants could impact the regional as well as international aviation and airline sector. However, countries are trying to divert their supply chains and raw material procurements in order to improve aircraft exhaust systems market stability.