The auxiliary power units or APUs are commonly found on large aircraft’s vehicles and ships. They provide energy to the various functions of these vehicles except for the propulsion. The APU is highly automated and can provide power backup to numerous systems of the aircrafts. Increasing applications of these products along with the overall growth of the airline industry are considered to be the strongest drivers for the global aerospace and military APU market. Rising demand and innovative technological backing are also considered to be the strengthening factors for this industry. As a result, the market is also hoping for exciting business opportunities thanks to major investments, global expansions, mergers and acquisitions and growth in the revenue channels.
Segmentation in the APU Market
Based on the types of applications, the aerospace & military APU market is sub-segmented into commercial and military aircrafts, military land vehicles and rotary copters. Expert researchers also segment the industry on the basis of the stakeholders, countries and regions. The stakeholders in the industry include airlines, airlines MROs, environment regulatory bodies, system integrators, and manufacturers of aircrafts, engines, sub-components, and defense vehicles. Regional segmentation in the market includes regions like North America, Europe, Asia Pacific and the rest of the world. Major countries like US, UK, Australia, India, China, Russia, Brazil, France, Germany and such other regions are also analyzed for in-depth data and conclusions about the industry trends.
Drivers and Forecasts
Major technological developments in the industry are expected to drive the aerospace & military APU market at a steady CAGR. Rising demand and changing customer expectations are driving the technological revolutions in the industry. Keeping up with the varying demands from the different application segments are expected to be one of the major challenges for the industry. However, apart from the driving forces, the industry is also struggling to keep up with the various challenges, which include maintaining skilled workforce, changing technical issues and customer demands for the auxiliary power units and demands to improve quality and designs of the APUs.
As per the latest research reports, the global aerospace and military APU market is expected to grow at a high CAGR, which is anticipated to take the market to reach $1,851.69 million by the end of the year 2019. The AP units are projected to capture more than 805 of the market size during the forecasting period. North America and Europe are expected to dominate the global market. However, emerging markets of Asia Pacific and Latin America are also expected to grow at a remarkable compound annual growth rate.