Press release
Sales Of Aircraft Pumps Are Expected To Exceed US$ 6 Billion By 2032
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
However, with the relaxations in the government regulations and an expedited vaccination drive in countries like China, the U.S., the UK, and India, the Aircraft Pumps Market industry is slowly picking up its pace. The manufacturers are preparing to reopen their production sites, abiding by the government regulations.
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Key Segments Covered
By Type :
Hydraulic Pumps
Fuel Pumps
Lubrication Pumps
Water & Waste
System Pumps
Air Conditioning and Colling Pumps
Jet Pumps
By Technology :
Engine Driven
Electric Motor Driven
Ram Air Turbine Driven
Air Driven
By Pressure :
10 psi to 500 psi
500 psi to 1000 psi
3000 psi to 5000 psi
5000 psi to 6500 psi
By Aircraft Type :
Narrow Body Aircraft
Wide Body Aircraft
Regional Jet
Turboprop
By End User :
OEM
Aftermarket
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Energy Consumption in the US is Leading to High Adoption of Aircraft Pumps Market System
The US accounts for the largest share in the construction industry. The pandemic has halted many construction-related activities, which in turn has impacted the growth of the Aircraft Pumps Market industry negatively.
However, the development in the Aircraft Pumps Market industry is rising at a steady pace with the resumption of the construction industry. The ever-growing energy consumption in the country is also generating demand for more energy-efficient Aircraft Pumps Market systems in the region.
Competitive Landscape: Top Companies in Aircraft Pumps Market
Established players continue to consolidate their position in the aircraft pumps market, accounting for approximately 2/5th of the market share. Technologically advanced and customized product designs, along with the development of highly efficient and lightweight aircraft pumps are key focus areas of these players, with an aim to remain compliant with regulations on emissions.
In March 2021, Triumph Group and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) signed a definitive agreement for establishing a joint venture to overhaul nacelles for the next-generation aircraft manufacturing and repair facility of the former at Arkansas
Likewise, in June 2021, Eaton announced the completion of its acquisition of Cobham Mission Systems- a leading manufacturer of air-to-air refuelling systems, environmental systems and actuation, primarily for defense markets
Technological Advancements are Leading Innovations in the Aircraft Pumps Market in China
China is gradually recovering from the adverse effect of the pandemic due to its successful efforts in curbing the spread of the virus within the region. With almost negligible restrictions, the construction, heavy machinery, and automotive industry have started resuming operations.
Rising expenditure in technology and increasing emphasis on environmental safety are propelling the demand in the Aircraft Pumps Market industry in China. The growing interest in billboard automation and industrial displays in allowing manufacturers to gradually attain their pre-pandemic status.
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India is Experiencing High Adoption of Aircraft Pumps Market Systems
The Indian Aircraft Pumps Market industry witnessed a downfall due to the pandemic. In order to follow the safety guideline, many construction sites and manufacturing units were shut until further notice.
With the relaxation of these restrictions, the manufactures operating in the automation, engineering, and construction (AEC) industry managed to gather pace in recovery. However, the second wave of the pandemic hit the Aircraft Pumps Market industry negatively, affecting the overall growth of the industry.
Being a fast-growing economy, global leaders are finding lucrative opportunities in the country, both in commercial and residential spaces, as the demand for multi-modal building automation is surging.
Key Long-Term Trends
The global Aircraft Pumps Market industry is showing notable recovery in 2021 and will continue to offer opportunities for expansion to the players operating in the market. With the penetration of building automation in residential areas, the Aircraft Pumps Market industry will show an upward trend. Some new trends that are boosting the growth in the market are:
Internet of Things (IoT)
The Internet of Things (IoT) and the Industrial Internet of Things (IIoT) are experiencing broader acceptance in the Aircraft Pumps Market industry. The innovative technology which makes everything 'inter-connected is gaining immense popularity in both residential and commercial projects, making them technologically advanced and effective in risk management.
Edge Computing
As the number of residents increases, the data also becomes vaster. Hence, edge computing will act as a key technology in the Aircraft Pumps Market industry. Edge computing enables data security, easy accessibility, and enhanced automation in commercial and residential buildings.
For More Insights-https://www.globenewswire.com/news-release/2022/03/09/2400432/0/en/Low-Code-Development-Industry-is-Projected-to-Achieve-a-Global-Market-Size-of-US-187-Bn-by-2032-Currently-US-Accounts-For-the-Largest-Market-Share-in-the-World.html
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