Press release
Aircraft Pumps Market Outlook 2024: Exclusive Report By The Business Research Company
Aircraft Pumps Market
The Business Research Company offers in-depth market insights through Aircraft Pumps Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aircraft pumps market size has grown rapidly in recent years. It will grow from $3.75 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to growth in commercial aviation, military aircraft modernization, aging aircraft fleet, aircraft safety regulations, emerging markets.
The aircraft pumps market size is expected to see strong growth in the next few years. It will grow to $6.03 billion in 2028 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to electric aircraft development, air travel recovery, rising defense budgets, trade and geopolitical factors, increasing tourism activities. Major trends in the forecast period include lightweight materials and design, sustainable and green technologies, digitalization and iot integration, increased reliability and redundancy, pump health monitoring.
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Market Segmentation:
The main types of aircraft pumps are hydraulic, fuel, lude & scavenge, water & wastewater, and air conditioning & cooling pumps. Hydraulic pumps are used to transfer non-compressible fluid via an aircraft hydraulic system. The hydraulic pumps are frequently used to operate wheel brakes, retractable landing gear, and various constant-speed propellers on tiny aircraft. Fixed, rotary wing and unmanned aerial vehicles are the types of aircraft that use aircraft pumps. The technologies used are engine driven, electric motor driven, ram air turbine driven, and air driven. The aircraft pumps are available in different pressure output levels up to 350 pounds per square inch (PSI), between 350 to 1,500 PSI, between 1,500 to 3,000 PSI, and above 3,000 PSI. These aircraft pumps are used by original equipment manufacturers (OEM) and aftermarket.
Major Driver - Rising Air Passenger Traffic As A Growth Driver For The Aircraft Pumps Market
An increase in air passenger traffic will propel the growth of the aircraft pumps market. The increase in air passengers is due to rising GDP, disposable income, and living standards. Additionally, the prolonged lockdown during the COVID-19 outbreak has led to an upsurge in both business and leisure travel. As air travel increases, there is a rise in demand for aircraft. The aircraft pumps are an integral part of the aircraft that help in the flow of fluids and gases for the proper functioning of the aircraft. According to a report published in May 2022 by International Civil Aviation Organization (ICAO), a UN agency and a global forum for civil aviation, the number of passengers carried by air climbed by 65% from January to April 2022 as compared to January to April 2021, while the number of aircraft flight departures rose by 30%. Hence, an increase in air passengers and air travel will lead to a growth in the aircraft pumps market.
Competitive Landscape:
Major companies operating in the aircraft pumps market include Eaton Corporation plc, Parker Hannifin Corporation, Woodward Inc., Honeywell International Inc., Crissair Inc., Triumph Group Inc., Moog Inc., Arkwin Industries Inc., Beaver Aerospace & Defense Inc., Liebherr Group, GKN Aerospace, Raytheon Technologies Corporation, Safran S.A., Meggitt PLC, Crane Co., Zodiac Aerospace, AeroControlex Group, Pall Corporation, Donaldson Inc., CLARCOR Inc., Freudenberg & Co. KG, UTC Aerospace Systems, ITT Aerospace Controls, Circor Aerospace & Defense, Aeromax Industries Inc., Aerofit Inc., Collins Aerospace, Aeromaoz Ltd.
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Top Trend - Collaborative Partnerships For Market Expansion And Resource Synergy
Partnerships and collaboration are key trends in the aircraft pumps market. Companies are entering into a partnership with aircraft pumps manufacturer to expand their market and leverage each other's resources. For instance, in July 2021, McFarlane Aviation, a US-based engineering and manufacturing company specializing in aircraft components, partnered with C J Aviation. Through this partnership, C J Aviation will improve its access to a bigger market and speed up the development and FAA certification of new products for C J's product line with the assistance of McFarlane's technical and manufacturing teams. C J Aviation is a US-based manufacturer and distributor of fuel pumps, smoke pumps, and hydraulic pumps.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aircraft Pumps Market Characteristics
3. Aircraft Pumps Market Trends And Strategies
4. Aircraft Pumps Market - Macro Economic Scenario
5. Aircraft Pumps Market Size And Growth
…..
27. Aircraft Pumps Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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