(MENAFN- GlobeNewsWire - Nasdaq) Investments in Advanced Aerospace Filters Increasing to Meet Strict Regulations, With the Defense and Space Sectors Giving an Added Push.
Rockville, MD, Sept. 11, 2024 (GLOBE NEWSWIRE) -- As per an updated study conducted by Fact.MR, a leading market research and competitive intelligence provider, the global aerospace filter market is estimated to reach a value of US$ 1.45 billion in 2024 and advance at a steady CAGR of 4.3% from 2024 to 2034.
Worldwide demand for aircraft filters is rising due to rapid growth of the aviation industry and high attention being paid to air quality and safety. With new aircraft being built and fleet sizes growing steadily, requirement for high-quality filtration systems is growing in tandem with the growth of global air traffic. This demand is being further fueled by strict regulations on engine efficiency and air quality.
Airlines and aircraft manufacturers are making significant investments in cutting-edge filtration technology to comply with these regulations, increase fuel economy, and improve passenger comfort.
With its big programs, the space exploration industry is another expanding market for specialty aerospace filters. Modern filtration systems are more in demand as commercial enterprises have started participating in space projects alongside government organizations. Aerospace filter suppliers and manufacturers are benefiting greatly from this increase in demand since the industry is expected to develop rapidly over the coming years.
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Key Takeaways from Market Study:
The global aerospace filter market is forecasted to reach a size of US$ 2.21 billion by the end of 2034. The South Korea market is evaluated to expand at a CAGR of 3.5% from 2024 to 2034. The market in North America is forecasted to expand at a CAGR of 4.4% through 2034. East Asia is evaluated to hold a market share of 17.3% by 2034. The United States is projected to occupy a market share of 83.7% in North America by 2034. The market has been analyzed to reach US$ 559 million by the end of 2034. Based on filter types, the oil and lube filter segment is analyzed to expand at a CAGR of 4.4% and hold a market share of 60.8% by 2034.
“Rising demand for military unmanned aerial vehicles necessitating specialized aerospace filters, which will complement global market growth over the coming years,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Aerospace Filter Market:
Donaldson Company, Inc.; Freudenberg & Co. KG; Honeywell International Inc.; Parker-Hannifin Corporation; Mott Corporation; Pall Corporation; Porvair Plc; Swift Filters, Inc.; Amphenol Corporation; Hollingsworth & Vose Company; Woodward, Inc.
Rising Adoption of Advanced Nanomaterials and 3D Printing:
Modern nanomaterial filters can now effectively filter out ultra-fine particles and even molecules of pollution, greatly boosting engine efficiency and the quality of the air within airplane cabins. IoT-enabled smart filters are becoming more common, enabling real-time monitoring of filter efficiency and maintenance requirement prediction. This technique increases system dependability overall and decreases downtime.
Biomimetic filter designs have the potential to obtain greater efficiency with fewer pressure drops since they are modeled after the natural filtering systems seen in living things. Because these advances have the potential to increase fuel efficiency, they are very appealing.
It is now feasible to produce intricate filter shapes that were previously impractical to fabricate because of 3D printing technology. These designs reduce weight, which is important for aerospace applications while maintaining increased filtering performance. New environmentally friendly filter materials are also being developed in line with the sustainability objectives of the industry. These materials have a less environmental effect and are more suited for recycling.
Aerospace Filter Industry News:
In February 2024, Acrisure, a well-known global financial technology company, established a new subsidiary specifically to serve the aircraft industry. This branch, Acrisure Aerospace, brings together various Acrisure businesses and is led by Managing Partner Jason Riley.
In March 2023, NI acquired SET GmbH, a company well-known for its innovations in power semiconductor reliability testing and expertise in developing test systems for the aerospace and military sectors. This acquisition will speed up the development of crucial solutions and facilitate the integration of semiconductor technologies like gallium nitride (GaN) and silicon carbide (SiC) into transportation systems.
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in its new offering, presents an unbiased analysis of the aerospace filter market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (cabin air filters, avionics filters, hydraulic filters, engine air intake filters, fuel filters, oil & lube filters, others), filter media (fiberglass, metal mesh, pleated paper), aircraft (narrow-body aircraft, wide-body aircraft, regional body aircraft, turboprop, rotary wings), end use (commercial aviation, business aviation, military aviation), and sales channel (OEMs, aftermarket), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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Automotive Filter Market - The global automotive filter market reached a valuation of US$ 17.0 Billion, and is likely to register a year on year growth rate of 4.0% in 2022, closing at US$ 17.77 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 4.5% CAGR, reaching US$ 27.59 Billion.
Motorcycle Filter Market - According to the updated market research report by sales of motorcycle filters are estimated to touch US$ 3.86 billion in 2024. The global motorcycle filter market is forecasted to expand at a CAGR of 5.1% to reach a valuation of US$ 6.36 billion by the end of 2024.
Car Air Filter Market- The global car air filter market is estimated at USD 9.9 Billion in 2022 and is forecast to surpass USD 13.8 Billion by 2032, growing at a CAGR of 3.4% from 2022 to 2032.
Car Fuel Filter Market - Revenue from the global car fuel filter market size is projected to increase from US$ 1.74 billion in 2024 to US$ 3.05 billion by the end of 2034. According to this updated study released by worldwide sales of car fuel filters are forecasted to rise at 5.8% CAGR from 2024 to 2034.
Automotive Cabin Air Filter Market - The global automotive cabin air filter market, as revealed in the latest research report by reached a size of US$ 4.65 billion in 2022. Over the assessment period (2023 to 2033), the market is forecasted to advance at a CAGR of 6.2% and reach a value of US$ 9.1 billion by 2033-end.
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