The report covers all vital and important information related to Aircraft Fuel Systems market to help readers, investors, clients to gain a thorough understanding of the market and invest accordingly. The Aircraft Fuel Systems Market report offers a comprehensive overview of the market along with details about market size, market share, revenue growth, and top companies. Various advanced statistical tools such as SWOT analysis or Porter’s Five Forces are used in the report.
The global aircraft fuel systems market size is expected to reach USD 14.95 Billion at a revenue CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the global aircraft fuel systems market can be attributed to increasing demand for increasing fuel-efficiency of aircraft. Aircraft companies are investing effort and investments in design and development of lightweight aircraft fuel systems following the green aviation concept. Aircraft emissions are responsible for global warming and increasing air pollution levels have prompted aircraft manufacturing firms to focus on reduction of greenhouse gas emissions by decreasing fuel system weight and improving fuel efficiency.
Aircraft fuel systems market revenue growth is fueled by increasing defense budget resulting in purchase of new fighter as well as transport and passenger aircraft. As per estimates, military defense expenditure worldwide was more than USD 1980.0 billion in 2020, which was approximately 2.6% over expenses made in 2019. Increasing use of Unmanned Aerial Vehicles (UAVs) and development of stealthier, cutting-edge fixed-wing aircraft for military applications to improve aerial combat capabilities is expected to drive market revenue growth over the forecast period. Fighter aircraft provide close air support to defend land troops and also deter air strike threats by enemy aircraft; whereas in navies, such aircraft are used for detecting and neutralizing submarines and warships.
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Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Aircraft Fuel Systems market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Aircraft Fuel Systems market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Aircraft Fuel Systems market.
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For the purpose of this report, Emergen Research has segmented into the global Aircraft Fuel Systems Market on the basis of type and end-user, and region:
Engine Type Outlook (Revenue, USD Billion; 2018–2028)
- Jet Engine
- Turboprop Engine
- Helicopter Engine
- UAV Engine
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Pump Feed
- Fuel Injection
- Gravity Feed
Component Outlook (Revenue, USD Billion; 2018–2028)
- Inerting Systems
- Fuel Control Monitoring System
The global Aircraft Fuel Systems industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
Parker Hannifin Corporation, Triumph Group PLC, Safran SA, Eaton Corporation PLC, Meggitt PLC, Woodward Inc., Raytheon Technologies, GKN Aerospace Services Limited, Crane Co., and Honeywell International Inc
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Some Key Highlights from the Report
- In October 2020, Honeywell International made an announcement about completion of acquisition of Ballard Unmanned Systems’ assets. Ballard Unmanned Systems is engaged in design and manufacture of proton exchange membrane fuel cell systems for powering UAVs, especially used for cargo delivery, energy inspection, and various other defense and commercial applications.
- By engine type, jet engine segment contributed largest revenue share to the global market in 2020. A primary advantage of a jet engine in comparison to a piston engine is the enhanced ability of a jet engine to generate greater thrust at high speed and altitude. Various other benefits of a jet engine, include jet engines are much lighter and smaller for a specified amount of power, these engines are much simpler than large piston engines, have enhanced reliability and ruggedness, better capability to burn less refined and cheaper fuels, non-requirement of toxic and cost-prohibitive avgas, more fuel-efficient than larger engines, production of lesser vibration, and very low-requirement for lubrication, and bleed air can be used for HVAC applications, resulting in more cost savings associated with need for extra equipment.
- By technology, gravity feed segment revenue is expected to register a significant faster CAGR over the forecast period. An advantage of gravity feed technology is that aircraft fuel will flow even if the tank outlet is not submerged in fuel. However, in case of gravity feed technology, fuel can only flow at low pressure and downhill and thus all aircraft with gravity-feed fuel systems have carbureted engines.
- By component, fuel monitoring system segment contributed significantly larger revenue share in 2020. Advantages offered by fuel monitoring systems include real-time fuel level monitoring, cost tracking per mile, provision of alerts on refuel and drain, and delivery of report on fuel usage and mileage.
- Aircraft fuel systems market in Asia Pacific accounted for largest revenue share in 2020 and is expected to register fastest revenue share in 2020, attributed to presence of larger population, rising disposable income, and increasing air passenger traffic leading to increasing demand for new aircraft.
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Aircraft Fuel Systems Market report:
- The latest report comprehensively studies the global Aircraft Fuel Systems market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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