- Hydraulic System
The aircraft filters market is estimated to be valued at USD 8,958.6 Million in 2021, and it is expanded to grow at a significant CAGR of 5.1% over 2022-2028. An increase in the orders for commercial and defense aircraft is a crucial factor surging the revenue of the global aircraft filters market over the forecast years. The growing inclination of consumers toward aircraft filters devices that are convenient to use at home creates an opportunity for marketers. The demand for commercial and military aircraft is gradually increasing due to an increase in disposable income in developing countries and a rise in the population preferring air travel to save time. Stringent regulations on emissions of aircraft also surge the adoption of advanced aircraft filters, which may enhance the revenue of the market over the forecast years. For instance, In May 2019, Environmental Protection Agency issued the first-ever greenhouse gas emissions standards for aircraft to curtail planet-warming pollution. Plane emissions are rapidly increasing as air travel becomes more accessible around the globe. In 2021, the hydraulic system segment accounted for the largest revenue share in the aircraft filters market, and it is expected to grow at a CAGR of 4.7 percent from 2022 to 2028, reaching USD 3,845.1 Mn by 2028. Hydraulic systems are often used in different applications, such as flight control systems, lubrication, and cooling. The filters clean the fluid and keep foreign particles out of the system. If the filter fails to remove such foreign particles, the aircraft may crash due to a single system failure.
Fastest Growing Market
The global aircraft filters market is mainly driven by the rise in demand for air travel, increased aircraft deliveries, the short replacement cycle of aircraft filters, and growing demand for fuel-efficient aircraft. Global economic uncertainty and a backlog of aircraft deliveries act as growth restraints in the worldwide aircraft filter market.
The aircraft filters market is projected to expand at a CAGR of 5.1% during the forecast period.
Donaldson Company, Inc, Freudenberg Group, Hollingsworth & Vose, Pall Corporation, Parker Hannifin Corporation
North America is the fastest-growing region for aircraft filters market