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(MoneyNewsWire.Net, March 11, 2018 ) The aerospace filters market is projected to grow from an estimated USD 6.73 Billion in 2016 to USD 10.11 Billion by 2022, at a CAGR of 7% during the forecast period. This growth can be attributed to the increasing aircraft orders, as a result of increasing air passenger traffic across the globe. Growth in passenger traffic is resulting in increased flight hours of aircraft, in turn, resulting in shorter replacement cycles, which is the key factor driving the demand for aerospace filters from the Maintenance, Repair and Overhaul (MRO) segment. Airliners are opting for better and light weight filters which would reduce aircraft weight and improve fuel efficiency.
Browse Market Data Tables and In-Depth TOC of the Aerospace Filters Market to 2022 @ https://www.researchcosmos.com/reports/global-aerospace-filters-market-analysis-and-forecast-to-2022-growth-opportunity-assessm/3189687
The market has been segmented based on type, application, platform, end use, aircraft type, consumption, and region. Based on type, the aerospace filters market has been segmented into air filters and liquid filters. The liquid filters type is expected to witness the highest growth during the forecast period, as airlines are focusing on increasing fuel economy which is provided by these filters and this also enables the achievement of optimum efficiency, which is expected to drive the aerospace filters market.
Based on application, the market has been segmented into hydraulic system, engine, avionics, cabin, and others. The engine segment is expected to witness the highest growth during the forecast period. The increase in the number of flight hours has shortened the required replacement period of liquid filters. These filters help the engine to operate at optimum efficiency and provide it a longer life by offering cleaner fuel and oil, which is driving the aerospace filters market for this segment.
Based on end use, the market has been segmented into military, commercial, business, and others. The military segment is estimated to have been the highest growth segment of the market in 2016, and is projected to remain the largest by 2022. A rise in the number of military aircraft is projected to drive the demand for aerospace filters. Also, the shorter replacement cycle required than that for commercial passenger aircraft has resulted in the larger share of the military application segment in the aerospace filters market.
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The geographical analysis of the aerospace filters market includes regions, such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The North American region is estimated to have accounted for the largest share of the aerospace filters market in 2016. Many countries such as Brazil, Argentina, Saudi Arabia, and UAE, among others, have increasing military and commercial aircraft deliveries. However, the Asia-Pacific region is projected to surpass the North American region in 2022 with the highest CAGR, supported by the increase in passenger traffic and military aircraft in countries such as India, China, and Russia, among other countries from the region.
The existing backlogs in aircraft deliveries can act as a restraint in the growth of the aerospace filters market. The limited manufacturing capacity of major aircraft manufacturing companies has led to a large backlog of aircraft deliveries.
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Products offered by various companies in the aerospace filters market have been listed in the report. The recent developments section of the report includes recent and important developments by various companies between 2009 and 2016. Major companies profiled in the report include Parker Hannifin Corporation (U.S.), Pall Corporation, Donaldson, Inc. (U.S.), CLARCOR, Inc. (U.S.), and Freudenberg &Co. KG (Germany), among others. Agreements and acquisitions accounted for a major share of the total growth strategies adopted by the leading players in the aerospace filters market. These strategies have enabled companies to strengthen their market shares in the aerospace filters market.
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