Global Aircraft Engine Fuel Systems Market Research Report Covers Historical Market Trends, Current Market Dynamics, Market Valuation by Segmentation as Well as Region, Country-level Analysis for Every Segment, Key Player's Market Share Analysis, Competitive Landscape and Supply Chain Analysis.
— The global aircraft engine fuel systems market could project a CAGR of 6% during the forecast period (2017-2023), estimates Market Research Future (MRFR).
Significant companies in the worldwide aircraft engine fuel systems market include Woodward, Inc. (US), United Technologies Corporation (US), Parker Hannifin Corporation (US), GKN PLC (UK), Honeywell International Inc. (US), Eaton (Ireland), Safran SA (France), Crane Co. (US), Meggitt PLC (UK), Triumph Group, Inc. (US), to mention a few.
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Growth Boosters and Key Barriers
In past few years, exponential increase in aircraft deliveries has been noted all around the world; a trend that is expected to gain further momentum over the assessment period. As a result, several aircraft manufacturers are focusing on expanding their manufacturing capabilities. This will boost the demand for aircraft fuel systems, thereby stimulating market growth.
Aircraft manufacturers are also investing massively in the development of lightweight aircraft fuel systems that could meet with the evolving demands of customers. Additionally, given the fluctuating oil prices, manufacturers are attempting to improve the fuel efficiency of aircraft fuel systems, to enhance engine performance and bring down the operating costs. This is expected to hike up the demand for aircraft fuel systems in the coming years.
The aircraft fuel systems market could achieve robust growth during the review period, backed by developments in commercial aviation as well as technical advancements in military aircraft. This is expected to intensify the demand for fuel-efficient aircraft fuel systems over the evaluation period.
• Aircraft manufacturers
• Aircraft engine fuel system component providers
• Aerospace companies
• Technology companies
• Defense organizations
• Government authorities
• Defense companies
• Research institutes
• Regulatory bodies
Engine type, component, application and technology are the segments as per which the aircraft engine fuel systems market has been segmented in the MRFR report.
Depending on engine type, the market has been considered for helicopter engine, jet engine, UAV engine and turboprop. The jet engine segment led the market in 2018 and is projected to note the highest CAGR during the given timeframe. Surging air passenger traffic along with the soaring demand for new aircraft establishes the segment’s dominance in the market.
Component-wise, the market can be narrowed down to piping, valves, inerting systems, fuel control monitoring systems, pumps, gauges and filters. Piping stood as the largest segment in 2018 and is predicted to achieve the highest CAGR during the review period. The surge in aircraft being manufactured has resulted in the segment’s top position in the market.
Application-based segments are commercial, military, and unmanned aerial vehicle (UAV). Commercial application was the dominating segment in 2018, which could expect to advance at a strong CAGR during the evaluation period. Rising aircraft orders from Asia Pacific, as well as the Middle East, lead to growth in air passenger traffic, which benefits the segment.
With respect to technology, the market caters to fuel injection, gravity feed and pump feed. In 2018, fuel injection was identified as the highest gaining segment in the market, and is presumed to expand at the best CAGR from 2017 to 2023. Fuel injection technology enjoys robust demand owing to the benefits it offers, which includes high engine efficiency and also helps reduce lowers fuel consumption.
The aircraft engine fuel systems market can be split into the key regions of Latin America, Middle East & Africa, Europe, Asia Pacific, and North America.
In 2018, North America seized the largest portion of the worldwide market, driven by the United States (U.S.). The region is considered to be the manufacturing hub of the aerospace industry, marked with the presence of a huge number of large- to small-sized aircraft manufacturers, tier players, raw material suppliers as well as MRO players. The aerospace industry in the region is highly developed and is known to have strong technological capabilities, which propels the growth of the aircraft engine fuel systems market.
Asia Pacific could achieve the highest CAGR from 2017 to 2023 owing to the soaring demand for new aircraft that could meet the rising air passenger traffic. The regional market also benefits from the increasing investments made by airline companies in countries like India and China. Other than this, the establishment of assembly plants in China by renowned commercial aircraft OEMs like Boeing and Airbus also works in favor of the regional market.
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Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region
Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
Regional attractiveness and related growth opportunities
List of Tables
Table 1 Global Aircraft Engine Fuel Systems Market, by Region, 2019–2025
Table 2 North America: Aircraft Engine Fuel Systems Market, by Country, 2019–2025
Table 3 Europe: Aircraft Engine Fuel Systems Market, by Country, 2019–2025
Table 4 Asia-pacific: Aircraft Engine Fuel Systems Market, by Country, 2019–2025
Table 5 Middle East & Africa: Aircraft Engine Fuel Systems Market, by Country, 2019–2025
Table 6 Latin America: Aircraft Engine Fuel Systems Market, by Country, 2019–2025
Table 7 Global Aircraft Engine Fuel Systems Market Size, by Region, 2019–2025
Table 8 North America: Aircraft Engine Fuel Systems Market Size, by Country, 2019–2025
Table 9 Europe: Aircraft Engine Fuel Systems Market Size, by Country, 2019–2025
Table 10 Asia-pacific: Aircraft Engine Fuel Systems Market Size, by Country, 2019–2025
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter's Five Forces Analysis
Figure 7 Value Chain Analysis
Figure 8 Global Aircraft Engine Fuel Systems Market Share, by Engine Type, 2018 (%)
Figure 9 Global Aircraft Engine Fuel Systems Market, by Engine Type, 2019–2025 (Usd Million)
Figure 10 Global Aircraft Engine Fuel Systems Market Share, by Component, 2018 (%)
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