Global Aircraft And Marine Turbochargers Market is anticipated to grow at a CAGR of 2.03% from 2020 to 2030.

Market Industry Reports (MIR) has published a new report titled “Global Aircraft And Marine Turbochargers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Aircraft And Marine Turbochargers Market accounted for over US$ 285.4 million in 2019. It is anticipated to grow at a CAGR of 2.03% from 2020 to 2030.

The aircraft and marine turbochargers market has been witnessing growth over the recent years due to factors like the rising interest for eco-friendly aircraft motors, rising interest for light flies from nations, and the expanding number of flying machine conveyances. For instance, the developed and developing nations such as the US, UK, China, India, and Japan, is assisting the marine travel industry across the globe. Moreover, these several factors are prompting the development of the aircraft and marine turbochargers market.

The increasing technological advancement in the market such as the adoption of 3D printing technology to manufacture aircraft and marine turbochargers is supporting the market growth. The industry participants are developing new and advanced models of turbocharges that will enhance the operating cost. For instance, in August 2018, the Mitsubishi Heavy Industries Marine Machinery & Equipment Co., Ltd. developed new models of its MET turbochargers that will be installed in diesel engines. This strategy enhances the product portfolio of the company with the enhancement in the revenue share. This turbocharger series mainly encompasses for two-stroke engines is smaller and lighter than the existing MET-MB series that allows 165 greater flow capacity.

The increasing number of aircraft deliveries by aircraft operators is significantly supporting market growth over the study timeframe. For instance, according to Airbus Forecast 2018-2037, Europe will account for around 7,000 new aircraft deliveries by 2037. This will considerably mature the turbochargers market, providing it with new opportunities. Furthermore, the industry participants are continuously involved in introducing new products to cater to the surging demand. Moreover, the engagement of partnerships and long term contracts by key players is supporting market growth. For instance, in September 2017, ABB signed long-term service agreements with several marines and offshore transport firms for the service maintenance of 400 turbochargers units.

Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Global Aircraft And Marine Turbochargers Market By Component (Compressor, Turbine, and Shaft), By Technology (Single Turbo, Twin Turbo, Variable Geometry Turbo, and Hybrid/Electric Assist Turbo), By Platform (Aircraft, Marine, Unmanned Aerial Vehicles {UAVs}) – Global Analysis & Forecast 2020-2030. in detail along with the table of contents:

One of the major drivers is the increasing fleet of small aircraft & boats across the globe. This increasing use of small aircraft & boats in recreational activities is estimated to boost the demand for aircraft and marine turbochargers over the coming years. The rise in GDP and per capita income coupled with the globalization of businesses has generated the need to develop the aircraft and marine industry to provide better connectivity and fast transport.

The industry players are engaged in technological advancements in aircraft and marine engines that includes the intelligent tuning of engines are significantly contributing towards the product adoption to operate efficiently at all load points. In February 2018, Rolls-Royce received a contract worth USD 47 million from the U.S. Department of Defense to manufacture aircraft turbochargers for AE 2100D3 turboprop engine aircraft such as C-130J aircraft, C-27J transport, and US-2 seaplanes.

Some of the prominent players in the Aircraft and Marine Turbochargers market include Jrone Turbocharger, Hartzell Engine Technologies, Rolls-Royce, Mitsubishi Heavy Industries, Continental Motors Group, Textron Inc., General Electric, ABB, Cummins, and Kawasaki Heavy Industries.