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Description
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.
Recent Market Developments:
In September 2022, Freudenberg Strengthens Filter Business in U.S. by Acquisition of Protect Plus Air Based in North Carolina.
In October 2021, Donaldson Company Recognized by Frost & Sullivan for Improving Fleet Efficiency with Its Connected Filtration Products.
