ID: MRFR/A&D/2769-HCR | February 2021 | Region: Global | 111 pages
The rapidly growing aircraft deliveries are one of the primary factors driving the global aircraft engine fuel systems market. Also, the development of lightweight fuel delivery systems has contributed to market growth. Moreover, as the airline companies are focusing on the attainment of increased aircraft efficiencies and reduction of the operational costs, the market for aircraft engine fuel systems is expected to witness significant growth, during the forecast period.
Since the fuel costs approximately account for 30-40% of the airline’s total operating costs. There has been an increased demand for the next-generation fuel-efficient aircraft. Concurrently, the aircraft manufacturers have been incorporating advanced lightweight materials in both the aircraft’s structural and semi-structural components, to reduce the aircraft weight, which improves the aircraft fuel efficiency. Furthermore, with the emergence of composite-manufactured fuel systems that make the aircraft more fuel-efficient, the market provides immense opportunities for the associated companies. Therefore, it is expected that innovative refueling systems, in the next-generation planes, along with the presence of emergency fuel systems would create ample opportunities for the market players to maximize their profits and in turn, contribute towards the growth of the global aircraft engine fuel systems market.
Segmentation of the Global Aircraft Engine Fuel Systems Market
Based on engine type, the market has been segmented into a jet engine, helicopter engine, turboprop, and UAV engine. The jet engine market segment dominated the market in 2018 and is expected to witness the highest CAGR during the forecast period. Increasing air passenger traffic and the growing demand for new aircraft are driving the segment growth.
Based on component, the market has been segregated into inerting systems, piping, valves, pumps, fuel control monitoring systems, filters, and gauges. The piping segment accounted for the largest market share in 2018 and is expected to grow at the highest CAGR from 2019 to 2025. The increasing aircraft being manufactured is driving the growth of the segment.
On the basis of application, the market has been divided into commercial, military, and UAV. The commercial segment dominated the market in 2018 and is expected to grow at a higher CAGR during the forecast period. Increasing aircraft orders from Asia-Pacific and the Middle East regions to support the growing air passenger traffic is driving the segment growth.
Based on technology, the market has been classified as pump feed, fuel injection, and gravity feed. The fuel injection segment accounted for the largest market share in 2018 and is expected to grow at the highest CAGR from 2019 to 2025. Fuel injection technology offers benefits such as higher engine efficiency and lowers fuel consumption. Hence, the segment is expected to propel during the forecast period.
Based on the region, the market has been categorized as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is estimated to acquire the most significant market share in 2018. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period from 2019 to 2025. Factors such as the growing demand for new aircraft to cater to the increasing air passenger traffic and rising investment made by airline companies in developing countries such as China and India are driving the connected aircraft market in the region.
The key players in the global aircraft engine fuel systems market are Honeywell International Inc. (US), Eaton (Ireland), Parker Hannifin Corporation (US), Woodward, Inc. (US), Triumph Group, Inc. (US), Meggitt PLC (UK), GKN PLC (UK), Safran SA (France), Crane Co. (US), and United Technologies Corporation (US).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
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Frequently Asked Questions (FAQ) :
Aircraft engine fuel systems market can expand at considerable pace by 2025.
By 2025, the aircraft engine fuel systems market value can surge exponentially.
Woodward, Inc. (US), Eaton (Ireland), Parker Hannifin Corporation (US), and Triumph Group, Inc. (US) are some well-established aircraft engine fuel systems market players.
The increase in demand for aircraft engine to favor aircraft engine fuel systems market.
EU aircraft engine fuel systems market value can rise in near future.