Market Trends of Aircraft Exhaust Systems Industry
The Commercial Segment is Expected to Lead the Market During the Forecast Period
Commercial aviation, a significant contributor to greenhouse gas emissions, faces increasing global scrutiny from environmental agencies. This has led to strict emission regulations to combat the environmental impact of aviation fuel combustion.
In March 2017, the International Civil Aviation Organization (ICAO) introduced a new CO2 emission standard for aircraft. This standard was applied to new aircraft designs in 2020 and those in production. The regulation mandates engine modifications to ensure full compliance by 2028.
The design of aircraft engines, including subsystems like exhaust systems, directly impacts the combustion cycle. With the introduction of stringent emission standards, there is a growing expectation for technological advancements in engine design, particularly in creating fuel-efficient engines with advanced exhaust systems. A notable example is the collaboration between Power Flow Systems and Maple Leaf Aviation in July 2023, where they jointly developed dual exhaust system fairings for Cessna 180, 182, and 185 airframes. Under the agreement, Maple Leaf will manufacture the new exhaust fairings, and Power Flow will offer them as part of a 'combined package price' to its tuned exhaust system customers.
Furthermore, to combat emissions, there is a rising focus on R&D efforts to introduce electric power trains in aviation. In September 2022, researchers achieved a milestone by capturing the first images of CO2 emissions from a commercial aircraft engine using chemical species tomography. Employing a novel near-infrared light imaging technique, they obtained the initial cross-sectional images of carbon dioxide in a commercial jet engine's exhaust plume. This breakthrough has the potential to expedite research on turbine combustion, aiding in the development of more eco-friendly engines and aviation fuels.
In February 2022, engineers at the Arnold Engineering Development Complex and MetroLaser in the US utilized an innovative laser measurement system to assess engine exhaust gas velocity. This initiative aims to understand and reduce aircraft noise and provide opportunities to elevate the market prospects of commercial aircraft exhaust systems in the coming years.
Asia-Pacific is Expected to Generate the Highest Demand During the Forecast Period
Throughout the forecast period, the Asia-Pacific region is set to dominate the demand for aircraft exhaust systems. This can be attributed to the rising number of new aircraft orders, which directly respond to the region's escalating passenger traffic. Projections from the International Air Transport Association (IATA) indicate that China is well-positioned to become the world's largest aviation market by the mid-2020s. Meanwhile, India's Ministry of Aviation has set ambitious goals to build 80-90 new airports, including heliports and water aerodromes, by 2030. This promising market potential has spurred aircraft OEMs to develop strategic expansion plans, solidifying their foothold in the region and, in turn, boosting the aircraft exhaust systems market.
The Asia-Pacific region boasts the world's second-highest military expenditure. Escalating geopolitical tensions has led many nations to prioritize fleet modernization, enhancing their aerial defense capabilities. For instance, China's 2023 defense budget reached USD 225 billion, marking a 7.2% increase from 2022 and the eighth consecutive year of growth. Similarly, India proposed a defense budget of USD 72.6 billion for the 2023-24 fiscal year, representing a significant 13% surge from previous estimates, with a particular emphasis on expanding its fighter jet fleet. Such developments are poised to drive the aircraft exhaust systems market in the future.
