Afterburner Market 2020-2026; Growth Forecast & Industry Share Report

1. Afterburner Market 2020-2026; Growth Forecast & Industry Share Report An afterburner is a supplemental combustion component used mostly in military supersonic aircraft. It is majorly deployed to increase thrust which is required for supersonic aircraft, takeoff, and combat scenarios. The afterburner market growth will be augmented by increased production and deployment of fighter aircraft in developed as well as developing countries. The air superiority fighter segment contribution in the afterburner market will grow at nearly 13% CAGR up to 2026, due to stealth ability, long-range capability, and secondary ground-attack ability. The benefits of air superiority fighter jets such as high maneuverability, long-range weapon ability, and supersonic ability will augment demand Prominent industry players have entered into joint ventures with leading aircraft manufacturers to strengthen their market presence and to expand their product and services portfolio. For example, Boeing and Safran in 2018, set up a joint venture company, Initium Aerospace, which is involved in designing, building, and servicing aircraft Auxiliary Power Units (APUs). The APAC industry growth will be augmented by the expanding India fighter aircraft market, along with the mass production of aircraft in the country. Reportedly, the Asia Pacific afterburner industry held a market share of over 25% in 2019. The industry size will further be fostered by an increase in the aging fleet across the region. Notably, for producing LCA Tejas, India inaugurated four additional assembly lines in 2019. The industry players in India are emphasizing on entering into contracts with governments for servicing and maintenance of the aircraft engines. Also, EUROJET has reportedly entered into an agreement with the NATO Eurofighter & Tornado Management Agency in 2020, to render 56 new fighter jet engines to the German Air Force. The existence of prominent companies will propel the overall afterburner industry expansion in the upcoming years. Such strategies allow market participants to leverage the technology associated with next-generation engines and obtain service agreements from the aircraft manufacturer. As the lifetime service charge of the aircraft falls around 30% of the overall cost of the aircraft, this strategy plays a key role to have an upper hand in the competitive market scenario. Leading companies in the global afterburner industry are emphasizing on extensive investments in the acquisition, joint ventures, collaboration, and introducing new engine technology. This way they can consolidate their position in the global market and leverage advanced technology to fulfill the surging demand from the aircraft afterburner industry. 1 | P a g e

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