Valued to be $4.7 Billion by 2026, Aerospace and Military Auxiliary Power Unit (APU) Slated for Robust Growth Worldwide

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Jan 18, 2022, 10:40 ET

SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Aerospace and Military Auxiliary Power Unit (APU) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Aerospace and Military Auxiliary Power Unit (APU)

FACTS AT A GLANCE
Edition: 9; Released: January 2022
Executive Pool: 502
Companies: 40 - Players covered include Jenoptik AG; The Dewey Electronics Corporation; The Marvin Group; United Technologies Corporation - Pratt & Whitney Division; United Technologies Corporation (UTC); UTC Aerospace Systems - Collins Aerospace and Others.
Coverage: All major geographies and key segments
Segments: Application (Commercial Aircraft, Military Aircraft, Military Land Vehicle, Rotarycopter)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Aerospace and Military Auxiliary Power Unit (APU) Market to Reach US$4.7 Billion by the Year 2026
An Auxiliary Power Unit (APU) is used to provide ground power, air to start the engines, hydraulics, and air conditioning when an aircraft remains on the ground. APUs are autonomous gas turbines that use centrifugal compressors to generate power. Jet fuel expenditure and maintenance costs are reduced as these secondary engines are used instead of main engines while waiting for passengers to board. This saves expensive jet fuel and reduces emissions. Growth in the global market is attributed to increasing air travel coupled with adoption of electric aircrafts and improvements in fuel economy. Enhancing capabilities of silent enemy monitoring and reducing operating costs for airlines are also playing significant roles to contribute to adoption of the APU systems across defense and aerospace industries. While austerity measures might lead to defense budget cuts in Europe and the US for a while, resulting in relatively slower growth of APUs in these regions' defense industries, there are indications of impressive growth of the APU market in terms of aviation in Europe and the US due to expected increase in the delivery of rotary copters and aircrafts. Emerging countries such as China, India, Japan, Brazil, and Saudi Arabia represent potential future markets for the APU systems. Rapidly improving industry infrastructure, enhanced product commercialization, and increasing demands are expected to make the aerospace and military auxiliary power unit industry's foothold more impactful and contribute significantly to international revenue generation.

Amid the COVID-19 crisis, the global market for Aerospace and Military Auxiliary Power Unit (APU) estimated at US$3.8 Billion in the year 2020, is projected to reach a revised size of US$4.7 Billion by 2026, growing at a CAGR of 3.4% over the analysis period. Commercial Aircraft, one of the segments analyzed in the report, is projected to grow at a 3.3% CAGR to reach US$3.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Military Aircraft segment is readjusted to a revised 4.1% CAGR for the next 7-year period. This segment currently accounts for a 12.6% share of the global Aerospace and Military Auxiliary Power Unit (APU) market. Commercial aircraft APUs are anticipated to witness robust demand as a result of increasing air travel, proliferation of flight density, consumer affordability. The demand for military APUs is likely to be also propelled by rising defense budgets and increasing use of these units among aircrafts. The market is expected to also benefit from increasing installation of APUs that reduce operation cost, mechanic training and inventory requirement along with their adoption in applications ranging from 50 to 1700 equivalent shaft horsepower (SHP).

The U.S. Market is Estimated at $1.4 Billion in 2021, While China is Forecast to Reach $398.2 Million by 2026
The Aerospace and Military Auxiliary Power Unit (APU) market in the U.S. is estimated at US$1.4 Billion in the year 2021. The country currently accounts for a 36.2% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$398.2 Million in the year 2026 trailing a CAGR of 4.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.5% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach US$474.8 Million by the end of the analysis period. Growth in North America region is attributed to the well-established airline network and surging numbers of air passengers. Industry growth is mainly driven by escalating demand for military aircraft used for stealth operations. Market dominance of this region is attributed to the presence of large aircraft manufacturers such as the US-based Boeing Company and the Bombardier Inc. in Canada. Industry growth in Asia Pacific is driven by growing population as well as high profitability achieved by the aviation industry of the region. Further, favorable government policies in the countries of the region are expected to encourage investment in both civil and military aviation sectors would further enhance the market share of aerospace APU.

Military Land Vehicle Segment to Reach $477.2 Million by 2026
Ongoing concrete efforts to modernize the military ground forces by countries around the world potentially enhance the demand for military land vehicles. Several countries around the world are undertaking measures to modernize their armed forces particularly to adapt to the transition towards digital battlefield. The modernization efforts are leading to adoption of information, intelligence, and communication systems through the entire battlefield. In the global Military Land Vehicle segment, USA, Canada, Japan, China and Europe will drive the 3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$334.4 Million in the year 2020 will reach a projected size of US$431 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29.8 Million by the year 2026. More

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