Aircraft and Marine Turbochargers Market Size, Share, Growth, and Industry Analysis by Type (Single Turbo, Twin Turbo, Electro-Assist Turbo), by Application (Aircraft, Marine, Unmanned Aerial Vehicle (UAV)), and Regional Insights and Forecast to 2031

Updated On: 08 April 2024

AIRCRAFT AND MARINE TURBOCHARGERS MARKET REPORT OVERVIEW

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The global aircraft and marine turbochargers market size was USD 279.6 million in 2022 and will touch USD 307.2 million by 2028, exhibiting a CAGR of 1.6% during the forecast period.

An aircraft or marine turbocharger is a turbine-driven forced induction device that increases an engine's power output by increasing the density of the air entering the engine. This improvement in power and efficiency allows an aircraft or marine turbocharger to increase its altitude or speed while maintaining its fuel economy.  Aircraft and marine turbochargers are also known as turbo, turbine operated forced induction devices are used to increase the power output and efficiency of internal combustion. It works by forcing compressed air into the combustion chamber, increasing the overall efficiency of the engines in aircraft as well as ships. The turbochargers recover waste energy from the engine exhaust stream and use it to power a turbine, which drives a compressor. This compressor draws in ambient air, compresses it, and feeds it to the engine intake, resulting in a larger mass of air and, consequently, a greater amount of fuel entering the cylinders on the intake stroke. 

Participants are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

LATEST TRENDS

"Use Of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

AIRCRAFT AND MARINE TURBOCHARGERS MARKET SEGMENTATION

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• By Type Analysis

According to type, the market can be segmented into single turbo, twin turbo, electro-assist turbo

Single turbo will capture the maximum market share through forecast period.  

Single turbo - single turbocharger system is a system where one turbocharger is used to increase the engine's efficiency and power output by forcing extra compressed air into the combustion chamber.

Twin turbo - Twin turbo systems use two turbochargers to compress the intake of air. They can be set up in parallel, where both turbos are fed the same amount of exhaust and deliver air simultaneously, or sequentially, where one turbo operates at lower RPMs and the other at higher RPMs for a broader power range.

Electro-assist turbo – electro-assist turbo includes an electric motor to reduce turbo lag and improve performance by spooling the turbocharger more quickly than exhaust gases alone would.

• By Application Analysis

According to application, the market can be segmented into aircraft, marine, unmanned aerial vehicle (UAV)

Aircraft and marine turbochargers market players cover segment as aircraft will dominate the market share during forecast period.

Aircraft - Turbos are used in aircraft to maintain power at high altitudes where thin air reduces the effectiveness of standard engines.

Marine – turbos are used to increase the efficiency and power of marine engines, allowing for faster speeds and better fuel economy.

Unmanned aerial vehicle (UAV)- UAVs particularly those designed for long endurance or high performance, may use turbocharged engines to maintain power in thin atmospheres at high altitudes or to increase overall efficiency.

DRIVING FACTORS

"Growing Demand For Fuel Efficiency To Boost The Market Growth"

The need to reduce fuel consumption and operating costs has propelled the demand for aircraft and marine turbochargers. Turbocharged engines offer improved fuel efficiency, enabling operators to achieve significant cost savings over the long term.

"Technological Advancement and Innovation To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the aircraft and marine turbochargers market growth. Growing investment in research and development activities and growing awareness about benefits are expected to deliver profitable opportunities for the market. Continuous improvements in turbocharger technology, such as variable geometry turbochargers, offer better performance and adaptability to a range of conditions.

RESTRAINING FACTOR

"High Maintenance and Repair To Hamper The Market Growth"

Turbochargers require regular maintenance and periodic overhauls to ensure optimal performance. The cost associated with maintenance & repair can be challenges to the operator especially in remote locations.  Technical difficulties will reduce the industry revenue.

AIRCRAFT AND MARINE TURBOCHARGERS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Region Due To The Increasing Demand For Recreational Maritime Activities"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East and Africa.

Asia Pacific is further expected to witness growth in the aircraft and marine turbochargers market share. The region is dominating the market due to the increasing demand for recreational maritime activities. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger. The collective efforts of these major players expressively impact the competitive landscape and future path of the market.

List Of Market Players Profiled

• Hartzell Engine Technologies (U.S.)
• PBS Velka Bites (Czech Republic)
• Rolls-Royce (U.K.)
• Mitsubishi Heavy Industries (Japan)
• Main Turbo Systems (U.S.)

INDUSTRIAL DEVELOPMENT

August 2021: Keith Bagley, president of Hartzell Engine Technologies LLC (HET), announced key organizational changes to better meet rapidly evolving market conditions, and focus on its commitment to providing the best lifecycle support for all of its products.

REPORT COVERAGE

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.