The aircraft heat exchanger market is expected to grow from an estimated USD 1.3 billion in 2021 to USD 2.0 billion by 2026, at a CAGR of 9.2% during the forecast period of 2021 to 2026. The growth of the aircraft heat exchanger market is majorly attributed to the growing fleet of commercial and combat aircrafts, rising demand for high-performance military fighter jets and effective heating and cooling in commercial aircrafts along with rise in military spending of various countries. Heat exchangers play an important role in mission-critical aviation and commercial aerospace applications. They are a vital component for the optimal performance of jet engines; vital to the accurate running of aircraft electronics; and significant to a spacecraft’s ability to achieve a multitude of purposes without overheating. Heat exchangers are widely utilized in engine, avionics, and environmental control systems of aircrafts as they help to control heat and maintain temperature by removing excess heat from the systems.
Major Aircraft Heat Exchanger Companies Include:
Agreements, collaborations, new product developments, contracts, expansion, acquisitions, and partnerships are among some of the key strategies adopted by the leading market players to strengthen and sustain their position in the aircraft heat exchanger market For example, in September 2019, AMETEK, Inc. (NYSE: AME) acquired Pacific Design Technologies, Inc. (PDT), a leading provider of advanced, mission-critical thermal management solutions for approximately USD 125 million. These key players offer aircraft heat exchangers applicable for commercial or defense aircrafts, spacecraft, UAV, UCAVs and have well-equipped and strong distribution networks across the North American, European, Asia Pacific, and the Rest of the World (the Middle East, Latin America, and Africa).
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Meggitt PLC is one of the largest designers and manufacturers of aircraft heat exchangers for commercial and military aircraft and aerospace engines providing custom-engineered solutions for small turboprops to large commercial turbofans wholly manufactured in the Birmingham, UK, Troy, and Indiana, US facilities. The products manufactured include the tubular heat exchanger, plate and fin heat exchanger, and air to air cooler. In June 2020, Meggitt PLC expanded its aviation repair capabilities and doubled its capacity in Singapore -the regional hub of the Asia aftermarket. The latest expansion was driven by the significant growth Meggitt has secured on next-generation aircraft platforms including the A350XWB, A320neo, Boeing 737MAX, and both, GTF and Leap engines.
AMETEK (US) is a leading supplier of plate fin heat exchangers and surface coolers to the aerospace and defence industry. Its product portfolio includes air cooled oil coolers, air to air heat exchangers, precoolers and buffer coolers, engine surface coolers, evaporators and condensers, fuel cooled oil coolers, oil heat exchangers, gearbox cooling systems, and hydraulic coolers made of non-corrosive and lightweight aluminum. In September 2020, AMETEK MRO Defense Drake Air received a contract from the Tinker Air Force Base in Oklahoma City, OK, for the repair and manufacturing of C-5 primary and secondary heat exchangers.
TAT Technologies Ltd is a publicly traded Israel-based company with many years of experience in the design and manufacturing of heat exchangers for commercial aircraft. Liebherr Aerospace (Germany), Cessna (US), Pilatus (Switzerland), Boeing (US), Honda Jet (US), Embraer (Brazil), Airbus (Europe), and CRJ (Canada) are some of the prominent customers of TAT. In 2019, TAT entered a 5-year agreement worth USD 20 million with a leading European system manufacturer in the aerospace industry for the supply of heat exchangers.
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