LONDON--(BUSINESS WIRE)--The new military aircraft auxiliary power unit market research report from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
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"One of the primary growth drivers for this market is the growing investments and R&D in the military aircraft”, says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the military aircraft auxiliary power unit market size to grow by USD 72.26 million during the period 2020-2024.
Military Aircraft Auxiliary Power Unit Market Segment Highlights for 2020
- The military aircraft auxiliary power unit market is expected to post a year-over-year growth rate of 1.73%.
- Based on the application, the fixed-wing APU segment led the market in 2019. The growth of the segment is driven by the large-scale development and procurement of new aircraft equipped with advanced technologies.
- The market growth in the segment will be significant over the forecast period.
Regional Analysis
- 43% of the growth will originate from the North America region.
- The growth of the market in North America is driven by the increase in the number of military aircraft procurement programs.
- The US is the key market for military aircraft auxiliary power units in North America. Market growth in this region will be faster than the growth of the market in other regions.
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Notes:
- The military aircraft auxiliary power unit market size is expected to accelerate at a CAGR of almost 4% during the forecast period.
- The military aircraft auxiliary power unit market is segmented by Application (Fixed-wing APU, Rotary-wing APU, and UAV APU) and Geography (North America, APAC, Europe, MEA, and South America).
- The market is concentrated due to the presence of a few established vendors holding significant market share.
- The research report offers information on several market vendors, including AEROSILA, Elbit Systems Ltd., Honeywell International Inc., PBS Group AS, Raytheon Technologies Corp., Rostec State Corp., and Safran SA
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