Aircraft Fuel Systems Market Worth US$ 6,869.7 million in 2023

Stratview Research has published a new research report on Aircraft Fuel Systems Market. This extensive 251-page report by Stratview Research analyses the growth of Aircraft Fuel Systems Market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023 under the following segments -
● by Aircraft Type (Commercial Aircraft, Military Aircraft, and Others)
● by Engine Type (Jet Engine, Turboprop Engine, and Others)
● by Component Type (Piping, Fuel Tank Inerting Systems and Others)
● by Technology Type (Fuel Injection, Pump Feed Technology, and Others)
● and by Region (North America, Europe, Asia-Pacific, and RoW)

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Increasing aircraft deliveries

As per Stratview Research, the global aircraft fuel systems market is projected to grow at a healthy rate over the next five years to reach US$ 6,869.7 million in 2023. Increasing aircraft deliveries fueled by rising passenger traffic, increasing demand for unmanned aerial vehicles, advancement in the fuel system technology, and rising global aircraft fleet size are the major factors that are bolstering the demand for fuel systems in the global aircraft industry.

Aircraft manufacturers are increasingly incorporating advanced lightweight
materials

Furthermore, airlines are demanding fuel-efficient aircraft to mitigate their operational cost as fuel roughly cost 30% of the airlines’ operational cost. Aircraft manufacturers are increasingly incorporating advanced lightweight materials in both structural and semi-structural components to reduce the weight of the aircraft. Reduction in the weight of aircraft considerably improves the fuel efficiency. For instance, B787 and A350XWB, the two recently developed next-generation aircraft, constitute composite materials up to 53% of the total structural weight of the aircraft. Fuel systems are also not untouched with such dynamics and experiencing a greater usage of advanced lightweight materials.

Commercial aircraft to remain the largest segment

The market is segmented based on the aircraft type as Commercial Aircraft, Military Aircraft, and Unmanned Aerial Vehicle. Commercial aircraft is expected to remain the largest segment of the market during the forecast period. Increasing commercial aircraft deliveries, higher demand for fuel-efficient aircraft, and rising aircraft fleet size are the key growth drivers of the market. Airbus anticipated that approximately 34,900 commercial and regional aircraft will be delivered during 2017 to 2036. A320 family, B737, B787, and A350XWB would remain the growth engines of the market. The UAV segment is also projected to witness the highest growth over the next five years, propelled by increasing investment for the development of UAVs across the world.

Jet engine to remain the growth driver

The market is segmented based on the engine type as Jet Engine, Turboprop Engine, Helicopter Engine, and UAV Engine. Jet engine is expected to remain the growth driver of the market during the forecast period, driven by higher penetration in the commercial and regional aircraft segments.

North America to remain the largest market

In terms of regions, North America is projected to remain the largest fuel systems market during the forecast period, driven by the USA. The region is the manufacturing capital of the aerospace industry with the presence of several large- to small-sized aircraft manufacturers, MRO players, tier players, and raw material suppliers. The North American aerospace industry is well-developed and possesses strong technological capabilities.
However, Asia-Pacific is likely to be the fastest-growing market for aircraft fuel systems during the same period, driven by large commercial aircraft fleet, indigenous production of commercial and regional aircraft, opening of assembly plants in China by both the major commercial aircraft OEMs (Boeing and Airbus), and increasing defense budget. China and India are the key growth engines of the Asia-Pacific’s market.

Top market players

The supply chain of this market comprises raw material suppliers, component manufacturers, fuel system suppliers, engine OEMs, aircraft OEMs, MRO companies, airline companies and aircraft leasing companies. Eaton Corporation Plc, Parker Hannifin Corporation, United Technologies Corporation, Triumph Group, Woodward, Inc., GKN Plc, Honeywell International, Inc, Zodiac Aerospace, and Meggitt Plc are the key players in the aircraft fuel systems market. Formation of the long-term contracts, the development of lightweight components, and collaboration with customers are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.

Why Stratview Research

Our report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
● Aircraft Fuel Systems Market overview, industry life cycle analysis, supply chain analysis
● Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
● Market trend (2012 – 2017) and forecast analysis (2018-2023) of each segment.
● Competitors’ market share, product portfolio and new launches.
● Growth opportunities in each segment.
● Emerging trends which will decide the future course of development.
● Strategic growth opportunities for the existing and new players
● Key success factors.

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This release was published on openPR.