The global aircraft fuel systems market is anticipated to grow at a significant CAGR of 6.4% during the forecast period (2022-2028). Fuel is pumped from the fuel tank into the aircraft engine by an aircraft fuel system. Fuel tanks, pipes, fuel pumps, fuel gauges, valves, and fuel control monitoring systems make up the system. Gasoline is stored in fuel tanks located in the wing structure, with an additional fuel tank or tanks located in the fuselage for long-range aircraft.
The key factor driving the growth of the market includes an increase in demand for new generation aircraft from both the commercial and military sectors. Additionally, in order to meet customer needs, the development of low-weight fuel system components is likely to boost market expansion during the forecast period. Furthermore, the introduction of more electric infrastructure in aircraft subsystems is expected to generate opportunities for innovation in the aircraft’s fuel systems.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-
- In August 2021, Parker Hannifin Corp. announced an agreement on the terms of a recommended cash acquisition of Meggitt, one of the global leaders in aerospace and defense motion and control technologies.
- In July 2021, the EU-funded SAfer FUEL (SAFUEL) project was initiated to develop technologies that can overcome the challenges given by electrical connectivity and extremely flammable composite materials used in modern airplanes.
- In October 2020, Ballard Unmanned Systems, a wholly-owned subsidiary of Southborough, Massachusetts-based Ballard Power Systems Inc., sold its assets to Honeywell. Ballard Unmanned Systems develops and manufactures stored-hydrogen proton exchange membrane fuel cell systems for unmanned aerial systems (UAS), including those used for energy inspection, cargo delivery, and other commercial and defense applications where demand for UAS services is increasing.
- In January 2020, Maverick Helicopters at Heli-Expo 2020 announced that it will modernize its whole fleet of 34 EC130 B4 helicopters with an airbus crash-resistant fuel system.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Eaton Corp. Plc, Parker Hannifin Corp., Woodward, Inc., United Technologies Corp., and Triumph Group, among others.
A full report is available at: https://orionmarketreports.com/global-aircraft-fuel-systems-market/104776/
Global Aircraft Fuel Systems Market Report by Segment
By Type
- Gravity Feed
- Pump Feed
- Fuel Injection Systems
By Application
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
- UAV
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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