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レポート概要
当調査レポートは次の情報を含め、世界の航空宇宙用ベーパーサイクルシステム市場規模と予測を収録しています。・世界の航空宇宙用ベーパーサイクルシステム市場:売上、2018年-2023年、2024年-2029年 ・世界の航空宇宙用ベーパーサイクルシステム市場:販売量、2018年-2023年、2024年-2029年 ・世界のトップ5企業、2022年 世界の航空宇宙用ベーパーサイクルシステム市場は2022年に000Mドルと評価され、予測期間中に000%のCAGRで2029年までに000Mドルに達すると予測されています。米国市場は2022年に000Mドルと推定されており、中国は2029年までに000Mドルに達すると予測されています。「全電気式ベーパーサイクルシステム」セグメントは今後6年間、000%のCAGRで2029年までに000Mドルに成長すると予測されています。 航空宇宙用ベーパーサイクルシステムのグローバル主要企業は、Honeywell Aerospace、 Collins Aerospace、 Liebherr-Aerospace、 AMETEK、 Meggitt、 Jormac Aerospace、 Safran、 Enviro Systems、 R&D Dynamics、 Seamech Internationalなどです。2022年にトップ5企業がグローバル売上シェアの約000%を占めています。 MARKET MONITOR GLOBAL(MMG)は、航空宇宙用ベーパーサイクルシステムのメーカー、サプライヤー、流通業者、および業界の専門家を調査しました。これには、販売量、売上、需要、価格変動、製品タイプ、最近の動向と計画、産業トレンド、成長要因、課題、阻害要因、潜在的なリスクなどが含まれます。 【セグメント別市場分析】 世界の航空宇宙用ベーパーサイクルシステム市場:タイプ別、2018年-2023年、2024年-2029年 世界の航空宇宙用ベーパーサイクルシステム市場:タイプ別市場シェア、2022年 ・全電気式ベーパーサイクルシステム、エンジンブリードエアベーパーサイクルシステム、ハイブリッドベーパーサイクルシステム 世界の航空宇宙用ベーパーサイクルシステム市場:用途別、2018年-2023年、2024年-2029年 世界の航空宇宙用ベーパーサイクルシステム市場:用途別市場シェア、2022年 ・機内温度制御、湿度制御、空気品質制御、その他 世界の航空宇宙用ベーパーサイクルシステム市場:地域・国別、2018年-2023年、2024年-2029年 世界の航空宇宙用ベーパーサイクルシステム市場:地域別市場シェア、2022年 ・北米:アメリカ、カナダ、メキシコ ・ヨーロッパ:ドイツ、フランス、イギリス、イタリア、ロシア ・アジア:中国、日本、韓国、東南アジア、インド ・南米:ブラジル、アルゼンチン ・中東・アフリカ:トルコ、イスラエル、サウジアラビア、UAE 【競合分析】 また、当レポートは主要な市場参加者の分析を提供します。 ・主要企業における航空宇宙用ベーパーサイクルシステムのグローバル売上、2018年-2023年 ・主要企業における航空宇宙用ベーパーサイクルシステムのグローバル売上シェア、2022年 ・主要企業における航空宇宙用ベーパーサイクルシステムのグローバル販売量、2018年-2023年 ・主要企業における航空宇宙用ベーパーサイクルシステムのグローバル販売量シェア、2022年 さらに、当レポートは主要企業のプロファイルを提示します。 Honeywell Aerospace、 Collins Aerospace、 Liebherr-Aerospace、 AMETEK、 Meggitt、 Jormac Aerospace、 Safran、 Enviro Systems、 R&D Dynamics、 Seamech International ************************************************************* ・調査・分析レポートの概要 航空宇宙用ベーパーサイクルシステム市場の定義 市場セグメント 世界の航空宇宙用ベーパーサイクルシステム市場概要 当レポートの特徴・ベネフィット 調査手法と情報源 ・世界の航空宇宙用ベーパーサイクルシステム市場規模 世界の航空宇宙用ベーパーサイクルシステム市場規模:2022年 VS 2029年 世界の航空宇宙用ベーパーサイクルシステム市場規模と予測 2018年-2029年 ・競争状況 グローバルトップ企業 売上ベースでのグローバルトップ企業 企業別グローバルでの航空宇宙用ベーパーサイクルシステムの売上 グローバルトップ3およびトップ5企業、2022年売上ベース グローバル企業の航空宇宙用ベーパーサイクルシステム製品タイプ グローバルにおけるティア1、ティア2、ティア3企業 ・タイプ別市場分析 タイプ区分:全電気式ベーパーサイクルシステム、エンジンブリードエアベーパーサイクルシステム、ハイブリッドベーパーサイクルシステム 航空宇宙用ベーパーサイクルシステムのタイプ別グローバル売上・予測 ・用途別市場分析 用途区分:機内温度制御、湿度制御、空気品質制御、その他 航空宇宙用ベーパーサイクルシステムの用途別グローバル売上・予測 ・地域別市場分析 地域別航空宇宙用ベーパーサイクルシステム市場規模 2022年と2029年 地域別航空宇宙用ベーパーサイクルシステム売上・予測 北米市場:アメリカ、カナダ、メキシコ ヨーロッパ市場:ドイツ、フランス、イギリス、イタリア、ロシア アジア市場:中国、日本、韓国、東南アジア、インド 南米市場:ブラジル、アルゼンチン 中東・アフリカ市場:トルコ、イスラエル、サウジアラビア、UAE ・主要企業のプロファイル(企業概要、事業概要、主要製品、売上、ニュースなど) Honeywell Aerospace、 Collins Aerospace、 Liebherr-Aerospace、 AMETEK、 Meggitt、 Jormac Aerospace、 Safran、 Enviro Systems、 R&D Dynamics、 Seamech International ... |
This research report provides a comprehensive analysis of the Aerospace Vapour Cycle Systems market, focusing on the current trends, market dynamics, and future prospects. The report explores the global Aerospace Vapour Cycle Systems market, including major regions such as North America, Europe, Asia-Pacific, and emerging markets. It also examines key factors driving the growth of Aerospace Vapour Cycle Systems, challenges faced by the industry, and potential opportunities for market players.
The global Aerospace Vapour Cycle Systems market has witnessed rapid growth in recent years, driven by increasing environmental concerns, government incentives, and advancements in technology. The Aerospace Vapour Cycle Systems market presents opportunities for various stakeholders, including Cabin Temperature Control, Humidity Control. Collaboration between the private sector and governments can accelerate the development of supportive policies, research and development efforts, and investment in Aerospace Vapour Cycle Systems market. Additionally, the growing consumer demand present avenues for market expansion.
The global Aerospace Vapour Cycle Systems market was valued at US$ million in 2022 and is projected to reach US$ million by 2029, at a CAGR of % during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Key Features:
The research report on the Aerospace Vapour Cycle Systems market includes several key features to provide comprehensive insights and facilitate decision-making for stakeholders.
Executive Summary: The report provides overview of the key findings, market trends, and major insights of the Aerospace Vapour Cycle Systems market.
Market Overview: The report provides a comprehensive overview of the Aerospace Vapour Cycle Systems market, including its definition, historical development, and current market size. It covers market segmentation by Type (e.g., All-Electric Vapor Cycle Systems, Engine Bleed Air Vapor Cycle Systems), region, and application, highlighting the key drivers, challenges, and opportunities within each segment.
Market Dynamics: The report analyses the market dynamics driving the growth and development of the Aerospace Vapour Cycle Systems market. The report includes an assessment of government policies and regulations, technological advancements, consumer trends and preferences, infrastructure development, and industry collaborations. This analysis helps stakeholders understand the factors influencing the Aerospace Vapour Cycle Systems market’s trajectory.
Competitive Landscape: The report provides an in-depth analysis of the competitive landscape within the Aerospace Vapour Cycle Systems market. It includes profiles of major market players, their market share, strategies, product portfolios, and recent developments.
Market Segmentation and Forecast: The report segment the Aerospace Vapour Cycle Systems market based on various parameters, such as by Type, region, and by Application. It provides market size and growth forecasts for each segment, supported by quantitative data and analysis. This helps stakeholders identify growth opportunities and make informed investment decisions.
Technological Trends: The report should highlight the key technological trends shaping the Aerospace Vapour Cycle Systems market, such as advancements in Type One technology and emerging substitutes. It analyses the impact of these trends on market growth, adoption rates, and consumer preferences.
Market Challenges and Opportunities: The report identify and analyses the major challenges faced by the Aerospace Vapour Cycle Systems market, such as technical bottleneck, cost limitations, and high entry barrier. It also highlights the opportunities for market growth, such as government incentives, emerging markets, and collaborations between stakeholders.
Regulatory and Policy Analysis: The report should assess the regulatory and policy landscape for Aerospace Vapour Cycle Systems, including government incentives, emission standards, and infrastructure development plans. It should analyse the impact of these policies on market growth and provide insights into future regulatory developments.
Recommendations and Conclusion: The report conclude with actionable recommendations for stakeholders, such as Application One Consumer, policymakers, investors, and infrastructure providers. These recommendations should be based on the research findings and address key challenges and opportunities within the Aerospace Vapour Cycle Systems market.
Supporting Data and Appendices: The report include supporting data, charts, and graphs to substantiate the analysis and findings. It also includes appendices with additional detailed information, such as data sources, survey questionnaires, and detailed market forecasts.
Market Segmentation
Aerospace Vapour Cycle Systems market is split by Type and by Application. For the period 2018-2029, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Market segment by Type
All-Electric Vapor Cycle Systems
Engine Bleed Air Vapor Cycle Systems
Hybrid Vapor Cycle Systems
Market segment by Application
Cabin Temperature Control
Humidity Control
Air Quality Control
Others
Global Aerospace Vapour Cycle Systems Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Major players covered
Honeywell Aerospace
Collins Aerospace
Liebherr-Aerospace
AMETEK
Meggitt
Jormac Aerospace
Safran
Enviro Systems
R&D Dynamics
Seamech International
Outline of Major Chapters:
Chapter 1: Introduces the definition of Aerospace Vapour Cycle Systems, market overview.
Chapter 2: Global Aerospace Vapour Cycle Systems market size in revenue and volume.
Chapter 3: Detailed analysis of Aerospace Vapour Cycle Systems manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Aerospace Vapour Cycle Systems in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Aerospace Vapour Cycle Systems capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.
1 Introduction to Research & Analysis Reports
1.1 Aerospace Vapour Cycle Systems Market Definition
1.2 Market Segments
1.2.1 Market by Type
1.2.2 Market by Application
1.3 Global Aerospace Vapour Cycle Systems Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
1.5.1 Research Methodology
1.5.2 Research Process
1.5.3 Base Year
1.5.4 Report Assumptions & Caveats
2 Global Aerospace Vapour Cycle Systems Overall Market Size
2.1 Global Aerospace Vapour Cycle Systems Market Size: 2022 VS 2029
2.2 Global Aerospace Vapour Cycle Systems Revenue, Prospects & Forecasts: 2018-2029
2.3 Global Aerospace Vapour Cycle Systems Sales: 2018-2029
3 Company Landscape
3.1 Top Aerospace Vapour Cycle Systems Players in Global Market
3.2 Top Global Aerospace Vapour Cycle Systems Companies Ranked by Revenue
3.3 Global Aerospace Vapour Cycle Systems Revenue by Companies
3.4 Global Aerospace Vapour Cycle Systems Sales by Companies
3.5 Global Aerospace Vapour Cycle Systems Price by Manufacturer (2018-2023)
3.6 Top 3 and Top 5 Aerospace Vapour Cycle Systems Companies in Global Market, by Revenue in 2022
3.7 Global Manufacturers Aerospace Vapour Cycle Systems Product Type
3.8 Tier 1, Tier 2 and Tier 3 Aerospace Vapour Cycle Systems Players in Global Market
3.8.1 List of Global Tier 1 Aerospace Vapour Cycle Systems Companies
3.8.2 List of Global Tier 2 and Tier 3 Aerospace Vapour Cycle Systems Companies
4 Sights by Product
4.1 Overview
4.1.1 By Type – Global Aerospace Vapour Cycle Systems Market Size Markets, 2022 & 2029
4.1.2 All-Electric Vapor Cycle Systems
4.1.3 Engine Bleed Air Vapor Cycle Systems
4.1.4 Hybrid Vapor Cycle Systems
4.2 By Type – Global Aerospace Vapour Cycle Systems Revenue & Forecasts
4.2.1 By Type – Global Aerospace Vapour Cycle Systems Revenue, 2018-2023
4.2.2 By Type – Global Aerospace Vapour Cycle Systems Revenue, 2024-2029
4.2.3 By Type – Global Aerospace Vapour Cycle Systems Revenue Market Share, 2018-2029
4.3 By Type – Global Aerospace Vapour Cycle Systems Sales & Forecasts
4.3.1 By Type – Global Aerospace Vapour Cycle Systems Sales, 2018-2023
4.3.2 By Type – Global Aerospace Vapour Cycle Systems Sales, 2024-2029
4.3.3 By Type – Global Aerospace Vapour Cycle Systems Sales Market Share, 2018-2029
4.4 By Type – Global Aerospace Vapour Cycle Systems Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
5.1 Overview
5.1.1 By Application – Global Aerospace Vapour Cycle Systems Market Size, 2022 & 2029
5.1.2 Cabin Temperature Control
5.1.3 Humidity Control
5.1.4 Air Quality Control
5.1.5 Others
5.2 By Application – Global Aerospace Vapour Cycle Systems Revenue & Forecasts
5.2.1 By Application – Global Aerospace Vapour Cycle Systems Revenue, 2018-2023
5.2.2 By Application – Global Aerospace Vapour Cycle Systems Revenue, 2024-2029
5.2.3 By Application – Global Aerospace Vapour Cycle Systems Revenue Market Share, 2018-2029
5.3 By Application – Global Aerospace Vapour Cycle Systems Sales & Forecasts
5.3.1 By Application – Global Aerospace Vapour Cycle Systems Sales, 2018-2023
5.3.2 By Application – Global Aerospace Vapour Cycle Systems Sales, 2024-2029
5.3.3 By Application – Global Aerospace Vapour Cycle Systems Sales Market Share, 2018-2029
5.4 By Application – Global Aerospace Vapour Cycle Systems Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
6.1 By Region – Global Aerospace Vapour Cycle Systems Market Size, 2022 & 2029
6.2 By Region – Global Aerospace Vapour Cycle Systems Revenue & Forecasts
6.2.1 By Region – Global Aerospace Vapour Cycle Systems Revenue, 2018-2023
6.2.2 By Region – Global Aerospace Vapour Cycle Systems Revenue, 2024-2029
6.2.3 By Region – Global Aerospace Vapour Cycle Systems Revenue Market Share, 2018-2029
6.3 By Region – Global Aerospace Vapour Cycle Systems Sales & Forecasts
6.3.1 By Region – Global Aerospace Vapour Cycle Systems Sales, 2018-2023
6.3.2 By Region – Global Aerospace Vapour Cycle Systems Sales, 2024-2029
6.3.3 By Region – Global Aerospace Vapour Cycle Systems Sales Market Share, 2018-2029
6.4 North America
6.4.1 By Country – North America Aerospace Vapour Cycle Systems Revenue, 2018-2029
6.4.2 By Country – North America Aerospace Vapour Cycle Systems Sales, 2018-2029
6.4.3 US Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.4.4 Canada Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.4.5 Mexico Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5 Europe
6.5.1 By Country – Europe Aerospace Vapour Cycle Systems Revenue, 2018-2029
6.5.2 By Country – Europe Aerospace Vapour Cycle Systems Sales, 2018-2029
6.5.3 Germany Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.4 France Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.5 U.K. Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.6 Italy Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.7 Russia Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.8 Nordic Countries Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.5.9 Benelux Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.6 Asia
6.6.1 By Region – Asia Aerospace Vapour Cycle Systems Revenue, 2018-2029
6.6.2 By Region – Asia Aerospace Vapour Cycle Systems Sales, 2018-2029
6.6.3 China Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.6.4 Japan Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.6.5 South Korea Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.6.6 Southeast Asia Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.6.7 India Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.7 South America
6.7.1 By Country – South America Aerospace Vapour Cycle Systems Revenue, 2018-2029
6.7.2 By Country – South America Aerospace Vapour Cycle Systems Sales, 2018-2029
6.7.3 Brazil Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.7.4 Argentina Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.8 Middle East & Africa
6.8.1 By Country – Middle East & Africa Aerospace Vapour Cycle Systems Revenue, 2018-2029
6.8.2 By Country – Middle East & Africa Aerospace Vapour Cycle Systems Sales, 2018-2029
6.8.3 Turkey Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.8.4 Israel Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.8.5 Saudi Arabia Aerospace Vapour Cycle Systems Market Size, 2018-2029
6.8.6 UAE Aerospace Vapour Cycle Systems Market Size, 2018-2029
7 Manufacturers & Brands Profiles
7.1 Honeywell Aerospace
7.1.1 Honeywell Aerospace Company Summary
7.1.2 Honeywell Aerospace Business Overview
7.1.3 Honeywell Aerospace Aerospace Vapour Cycle Systems Major Product Offerings
7.1.4 Honeywell Aerospace Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.1.5 Honeywell Aerospace Key News & Latest Developments
7.2 Collins Aerospace
7.2.1 Collins Aerospace Company Summary
7.2.2 Collins Aerospace Business Overview
7.2.3 Collins Aerospace Aerospace Vapour Cycle Systems Major Product Offerings
7.2.4 Collins Aerospace Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.2.5 Collins Aerospace Key News & Latest Developments
7.3 Liebherr-Aerospace
7.3.1 Liebherr-Aerospace Company Summary
7.3.2 Liebherr-Aerospace Business Overview
7.3.3 Liebherr-Aerospace Aerospace Vapour Cycle Systems Major Product Offerings
7.3.4 Liebherr-Aerospace Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.3.5 Liebherr-Aerospace Key News & Latest Developments
7.4 AMETEK
7.4.1 AMETEK Company Summary
7.4.2 AMETEK Business Overview
7.4.3 AMETEK Aerospace Vapour Cycle Systems Major Product Offerings
7.4.4 AMETEK Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.4.5 AMETEK Key News & Latest Developments
7.5 Meggitt
7.5.1 Meggitt Company Summary
7.5.2 Meggitt Business Overview
7.5.3 Meggitt Aerospace Vapour Cycle Systems Major Product Offerings
7.5.4 Meggitt Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.5.5 Meggitt Key News & Latest Developments
7.6 Jormac Aerospace
7.6.1 Jormac Aerospace Company Summary
7.6.2 Jormac Aerospace Business Overview
7.6.3 Jormac Aerospace Aerospace Vapour Cycle Systems Major Product Offerings
7.6.4 Jormac Aerospace Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.6.5 Jormac Aerospace Key News & Latest Developments
7.7 Safran
7.7.1 Safran Company Summary
7.7.2 Safran Business Overview
7.7.3 Safran Aerospace Vapour Cycle Systems Major Product Offerings
7.7.4 Safran Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.7.5 Safran Key News & Latest Developments
7.8 Enviro Systems
7.8.1 Enviro Systems Company Summary
7.8.2 Enviro Systems Business Overview
7.8.3 Enviro Systems Aerospace Vapour Cycle Systems Major Product Offerings
7.8.4 Enviro Systems Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.8.5 Enviro Systems Key News & Latest Developments
7.9 R&D Dynamics
7.9.1 R&D Dynamics Company Summary
7.9.2 R&D Dynamics Business Overview
7.9.3 R&D Dynamics Aerospace Vapour Cycle Systems Major Product Offerings
7.9.4 R&D Dynamics Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.9.5 R&D Dynamics Key News & Latest Developments
7.10 Seamech International
7.10.1 Seamech International Company Summary
7.10.2 Seamech International Business Overview
7.10.3 Seamech International Aerospace Vapour Cycle Systems Major Product Offerings
7.10.4 Seamech International Aerospace Vapour Cycle Systems Sales and Revenue in Global (2018-2023)
7.10.5 Seamech International Key News & Latest Developments
8 Global Aerospace Vapour Cycle Systems Production Capacity, Analysis
8.1 Global Aerospace Vapour Cycle Systems Production Capacity, 2018-2029
8.2 Aerospace Vapour Cycle Systems Production Capacity of Key Manufacturers in Global Market
8.3 Global Aerospace Vapour Cycle Systems Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
9.1 Market Opportunities & Trends
9.2 Market Drivers
9.3 Market Restraints
10 Aerospace Vapour Cycle Systems Supply Chain Analysis
10.1 Aerospace Vapour Cycle Systems Industry Value Chain
10.2 Aerospace Vapour Cycle Systems Upstream Market
10.3 Aerospace Vapour Cycle Systems Downstream and Clients
10.4 Marketing Channels Analysis
10.4.1 Marketing Channels
10.4.2 Aerospace Vapour Cycle Systems Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
12.1 Note
12.2 Examples of Clients
12.3 Disclaimer