Stratview Research announces the launch of a new market research report on Global Aircraft Fuel Systems Market by Aircraft Type (Commercial Aircraft, Military Aircraft, and UAV), by Engine Type (Jet Engine, Turboprop Engine, Helicopter Engine, and UAV Engine), by Component Type (Piping, Inerting Systems, Fuel Pumps, Fuel Valves, Fuel Gauging and Management System, Fuel Filters, Fuel Tanks, and Others), by Technology Type (Fuel Injection, Pump Feed Technology, and Gravity Feed Technology), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.
The Global Aircraft Fuel Systems Market: Highlights
As per Stratview Research, the global aircraft fuel systems market offers a robust growth of 5.8% CAGR during the forecast period of 2017 to 2022 and reach US $6,583 million in 2022, which offers an opportunity to the aerospace industry players to align themselves with the market growth.
There are several factors bolstering the growth of fuel systems market in the global aerospace industry. The author of the report cited increasing aircraft deliveries fueled by rising passenger traffic, increasing demand for unmanned aerial vehicles, and rising global aircraft fleet size as the major growth drivers of the fuel systems market in the aviation industry.
As per the report, commercial aircraft segment is expected to remain the largest market for aircraft fuel systems 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. A320 family, B737, B787, and A350XWB would remain the growth engines of the market. UAV segment is projected to witness the highest growth over the next five years owing to increasing procurement of UAVs for both civilian as well as military applications.
Based on engine type, jet engine is expected to remain the growth engine of the global aircraft fuel systems market during the forecast period, driven by higher demand for commercial and regional aircraft.
North America is projected to remain the largest aircraft fuel systems market during the forecast period, driven the US. However, Asia-Pacific is the likely to be the fastest-growing market for aircraft fuel systems during the same period, driven by high commercial aircraft fleet, indigenous production of commercial and regional aircraft the opening of assembly plants in China by Boeing and Airbus, and increasing defense budget.
The global aircraft fuel systems market is moderately consolidated with the presence of more than 100 players. Top 5 players include Eaton Corporation PLC, Parker Hannifin Corporation, United Technologies Corporation, Woodward, Inc., and Triumph Group. Other major players include Zodiac Aerospace, Cobham, Meggitt PLC, Honeywell Aerospace, GKN Aerospace, Robertson Fuel Systems and Marshall Aerospace.
Long-term contracts, 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.
This industry research report from Stratview Research provides market intelligence in the most comprehensive manner. 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 research report:
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