Market Trends of Aircraft Auxiliary Power Unit Industry
Commercial Aviation Segment Holds Highest Shares in the Market
Currently, the commercial segment has the highest market share in the aircraft auxiliary power unit market. Technological advancemnets in APUs which lead to improved fuel effiecncy, reduced emissions, and quieter operations are few factors contributing to the growth of commercial market. Furthermore growing emphasis on passenger comfort and safety is driving the demand for APUs. Airlines are increasingly investing in high-quality APUs to enhance the overall passenger experince and maintain the competitive edge in the market.
For instance, in May 2023, Honeywell has secured a contract from Malaysian Startup MYAirline to support auxillary power units (APUs) installed on the carrier's Airbus A320s. The agreement covers 131-9A APUs for 22 jets. Also, in July 2022, Whitney & Pratt Canada signed an eight-year maintenance and fleet improvement deal with Turkish Airlines. The deal includes the 82 APS3200 auxiliary power units (APUs) on the airline's fleet of Airbus A320 planes. Such developments and rising APUs installation contracts from airlines drive the growth of the segment during the forecast period.
Asia-Pacific to Experience the Highest Growth During the Forecast Period
The rapid increase in the passenger traffic of major countries like China, India, and Japan is driving the demand for several new aircraft orders from airlines operating in the Asian-Pacific region. The increasing demand for new aircraft orders is expected to drive the aircraft auxiliary power units market in this region. Additionally, countries in Asia Pacific region are investing heavily in modernizing their current aviaiton fleet. In 2022, Airbus delivered 676 aircraft, and Boeing delivered 480. Globally, Asia leads the market with the most orders for aircraft, with bulk orders from China. Indigo Airlines, an Indian LCC, has the largest single-order backlog with Airbus.
In military aviation, the rise in defense expenditure for the up gradation of old aircraft fleets is expected to surge the procurement of military aircraft and supplement the demand for aircraft auxiliary power units. All these factors are expected to generate demand for aircraft auxiliary power units in the Asia-Pacific region during the forecast period.
