Increasing investment in lightweight aircraft fuel systems is a key factor driving global market revenue growth
The global aircraft fuel systems market size is expected to reach USD 14.95 Billion at a revenue CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the global aircraft fuel systems market can be attributed to increasing demand for increasing fuel-efficiency of aircraft. Aircraft companies are investing effort and investments in design and development of lightweight aircraft fuel systems following the green aviation concept. Aircraft emissions are responsible for global warming and increasing air pollution levels have prompted aircraft manufacturing firms to focus on reduction of greenhouse gas emissions by decreasing fuel system weight and improving fuel efficiency.
Aircraft fuel systems market revenue growth is fueled by increasing defense budget resulting in purchase of new fighter as well as transport and passenger aircraft. As per estimates, military & defense expenditure worldwide was more than USD 1980.0 billion in 2020, which was approximately 2.6% over expenses made in 2019. Increasing use of Unmanned Aerial Vehicles (UAVs) and development of stealthier, cutting-edge fixed-wing aircraft for military applications to improve aerial combat capabilities is expected to drive market revenue growth over the forecast period. Fighter aircraft provide close air support to defend land troops and also deter air strike threats by enemy aircraft; whereas in navies, such aircraft are used for detecting and neutralizing submarines and warships.
Moreover, the report consists of comprehensive coverage of the trends and key factors affecting the growth of the industry. The report considers COVID-19 as a key contributor to the factors influencing the growth of the market. The pandemic has dynamically altered the scenario of the industry with regards to the disruption in the supply chain, financial difficulties, and changes in demands & trends. The report covers a comprehensive coverage of the present and future impact of the pandemic on the Aircraft Fuel Systems industry and its key segments.
Get a sample of the report @ https://www.emergenresearch.com/request-sample/856
The report offers a panoramic view of the competitive landscape of the industry and a detailed analysis of the key players of the market based on their revenue, profit margins, financial standing, global market position, R&D activities, and product portfolio. It also covers their strategic endeavors such as mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and product launches and brand promotions, among others. The key players profiled in the report are Parker Hannifin Corporation, Triumph Group PLC, Safran SA, Eaton Corporation PLC, Meggitt PLC, Woodward Inc., Raytheon Technologies, GKN Aerospace Services Limited, Crane Co., and Honeywell International Inc.
Global Aircraft Fuel Systems Market Segmentation
Emergen Research has segmented the global aircraft fuel systems market on the basis of engine type, technology, component, application, and region:
Engine Type Outlook (Revenue, USD Billion; 2018–2028)
Jet Engine
Turboprop Engine
Helicopter Engine
UAV Engine
Technology Outlook (Revenue, USD Billion; 2018–2028)
Pump Feed
Fuel Injection
Gravity Feed
Component Outlook (Revenue, USD Billion; 2018–2028)
Piping
Pumps
Valves
Inerting Systems
Fuel Control Monitoring System
Filters
Gauges
Application Outlook (Revenue, USD Billion; 2018–2028)
Military & Defense
Commercial
Request a discount on the report @ https://www.emergenresearch.com/request-discount/856
Key Highlights from the Report
In October 2020, Honeywell International made an announcement about completion of acquisition of Ballard Unmanned Systems’ assets. Ballard Unmanned Systems is engaged in design and manufacture of proton exchange membrane fuel cell systems for powering UAVs, especially used for cargo delivery, energy inspection, and various other defense and commercial applications.
By engine type, jet engine segment contributed largest revenue share to the global market in 2020. A primary advantage of a jet engine in comparison to a piston engine is the enhanced ability of a jet engine to generate greater thrust at high speed and altitude. Various other benefits of a jet engine, include jet engines are much lighter and smaller for a specified amount of power, these engines are much simpler than large piston engines, have enhanced reliability and ruggedness, better capability to burn less refined and cheaper fuels, non-requirement of toxic and cost-prohibitive avgas, more fuel-efficient than larger engines, production of lesser vibration, and very low-requirement for lubrication, and bleed air can be used for HVAC applications, resulting in more cost savings associated with need for extra equipment.
By technology, gravity feed segment revenue is expected to register a significant faster CAGR over the forecast period. An advantage of gravity feed technology is that aircraft fuel will flow even if the tank outlet is not submerged in fuel. However, in case of gravity feed technology, fuel can only flow at low pressure and downhill and thus all aircraft with gravity-feed fuel systems have carbureted engines.
By component, fuel monitoring system segment contributed significantly larger revenue share in 2020. Advantages offered by fuel monitoring systems include real-time fuel level monitoring, cost tracking per mile, provision of alerts on refuel and drain, and delivery of report on fuel usage and mileage.
Research Report on the Aircraft Fuel Systems Market Addresses the Following Key Questions:
Who are the dominant players of the Aircraft Fuel Systems market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Aircraft Fuel Systems market?
What are the key growth drivers and restraining factors of the Aircraft Fuel Systems market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Aircraft Fuel Systems market and its key segments?
Regional Analysis of the Aircraft Fuel Systems Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a complete understanding of the Aircraft Fuel Systems market in key regions with respect to regional production and consumption patterns, import/export, supply and demand dynamics, trends, growth prospects, and the presence of prominent players in each region. Each of the mentioned regions is analyzed based on the comprehensive market data obtained from the major countries of each region to impart a clear understanding of the market.
In conclusion, the report provides a qualitative and quantitative analysis of the Global Aircraft Fuel Systems market, including the global and regional analysis of the market. The study covers critical information and factual data about the Aircraft Fuel Systemsindustry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Aircraft Fuel Systems market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Aircraft Fuel Systems industry.
Request customization of the report @ https://www.emergenresearch.com/request-for-customization/856
Thank you for reading our report. To request a customization or for further inquiries, kindly get in touch with us. Our team will ensure the report is tailored meet to your needs.
Take a Look at our Related Reports:
Cardiac Monitoring & CRM Devices Market
Neurostimulation Devices Market
Signal Intelligence (SIGINT) Market
Industrial Microbiology Market
Surgical Instrument Tracking Systems Market
Medical Lighting Technologies Market
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: [email protected]
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting
Read Press Release@ https://www.emergenresearch.com/press-release/global-aircraft-fuel-systems-market