Aircraft Pumps Market: Influx of New Aircrafts to Create Opportunities for Players|| Key Players: Crane Aerospace & Electronics, Triumph Group, Inc., Woodward, Inc., Zodiac Aerospace
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Fact.MR’s latest study estimates aircraft pump sales to surpass 1.2 million units in 2019. Gains are likely to be driven by broader trends influencing the aviation industry, notably growing demand for new aircrafts in the wake of surging air traffic.
The aviation industry is on the verge of a major shift in propulsion with leading players focusing on electric propulsion technology. Electric aircrafts are gaining interest of stakeholders owing to their benefits, including high-efficiency along with reduced fuel and maintenance cost.
The electric aircraft trend is accelerating as OEMs in aircraft industry are collaborating with suppliers to design new systems and electric propulsion technology. NASA is also investing in research on Electrified Aircraft Propulsion (EPA) to improve emission, fuel-efficiency, and noise levels in commercial aircraft.
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Electric Motor Driven Aircraft Pumps Gain Robust Traction
More Electric Aircrafts (MEA) are now being widely recognized as the future of aerospace industry, to meet increasing power demand, improving fuel economy, and reducing emission. Aircraft manufacturers are taking significant efforts to convert hydraulic and pneumatic components in airplanes to electric. This has further resulted in robust adoption of electric motor-driven aircraft pumps, owing to their easy adjustment of input shaft power, and reduced power loss from source.
Electrification of Aircraft Propulsion to Confine Adoption
The aviation sector is showing increased interest in using electricity as a power source for airplanes, owing to their cost- and energy-related benefits over gasoline. The trend of electrification is gaining momentum in the aviation industry, as leading players show a marked preference for electric motors, thereby constraining adoption of conventional aircraft pumps.
Fuel cell-based and battery-operated systems are undergoing continued advancements, in line with the focus of industry players on the developments that ebb the power consumption below 100kw. The shift of aircraft manufacturers toward battery-operated systems, in line with advancements in the lithium-ion technology will emerge as a key concern for conventional aircraft pumps manufacturers.
Sales of aircraft pumps are also likely to increase in Europe owing to the high rate of tourism and companies investing a huge amount in aircraft manufacturing. Recently, with increase in demand for air services and rise in aircraft production globally, the value of motors, pumps, actuators and other aircraft components have also increased, thereby, benefiting OEMs and component manufacturers.
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