The Aircraft Pump Market Size was estimated at 7.68 (USD Billion) in 2022. The Aircraft Pump Market Industry is expected to grow from 8.2(USD Billion) in 2023 to 14.77 (USD Billion) by 2032. The Aircraft Pump Market CAGR (growth rate) is expected to be around 6.76% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Aircraft Pump Market Trends Highlighted
The Aircraft Pump Market is poised for substantial growth owing to the resurgence of commercial aviation, military modernization, and technological advancements. A growing fleet of aircraft, coupled with increased demand for fuel efficiency, reliability, and safety, is driving the need for high-quality pumps. Advanced materials and innovative designs are enabling the development of more efficient and durable pumps, providing manufacturers with opportunities to capture. Trends towards electrification and digitalization are also reshaping the market landscape as aircraft manufacturers seek to reduce emissions and enhance aircraft performance. Moreover, the adoption of predictive maintenance technologies is expected to create new opportunities for aftermarket services and support providers.
Increasing Demand for Air Travel
The increasing demand for air travel is a major driver of the growth of the aircraft pump market. As the number of people traveling by air increases, so does the demand for aircraft, which in turn drives the demand for aircraft pumps. This trend is expected to continue in the coming years as air travel becomes more accessible and affordable for people around the world. The rising demand for air travel is primarily attributed to the growing middle class in developing countries, increasing disposable income, and expanding tourism industry. The growth in air travel is further supported by the increasing frequency of business travel, the expansion of low-cost carriers, and the introduction of new aircraft models.
Growing Adoption of Advanced Technologies
The growing adoption of advanced technologies is another major driver of the growth of the aircraft pump market. Aircraft pumps are becoming increasingly sophisticated, with the incorporation of new technologies such as variable-speed drives, condition monitoring systems, and advanced materials. These technologies are helping to improve the efficiency, reliability, and safety of aircraft pumps. The adoption of advanced technologies is also being driven by the increasing demand for fuel efficiency and reduced emissions in the aviation industry.
Rising Demand for Aircraft Maintenance and Overhaul Services
The rising demand for aircraft maintenance and overhaul services is a key driver of the growth of the aircraft pump market. As aircraft fleets age, the need for maintenance and overhaul services increases. This is driving the demand for aircraft pumps, as they are a critical component of aircraft systems. The growing demand for aircraft maintenance and overhaul services is also being driven by the increasing number of aircraft in operation, as well as the increasing complexity of aircraft systems.
Aircraft Pump Market Pump Type Insights
The Aircraft Pump Market segmentation by Pump Type includes Electric Pumps, Mechanical Pumps, Hydraulic Pumps, and Pneumatic Pumps. Electric Pumps held the largest market share in 2023, accounting for nearly 38.2% of the Aircraft Pump Market revenue. The growth of the Electric Pumps segment is attributed to the increasing demand for Electric Aircraft, as Electric Pumps are more efficient and reliable than traditional Mechanical Pumps. Mechanical Pumps are expected to witness steady growth over the forecast period, owing to their widespread use in legacy Aircraft.Mechanical Pumps are less expensive than Electric Pumps and are still preferred for certain applications, such as hydraulic systems. Hydraulic Pumps are projected to grow at a moderate pace during the forecast period, driven by the increasing demand for Hydraulic Actuation Systems in Aircraft. Hydraulic Pumps are used to generate hydraulic pressure, which is used to power various Aircraft systems, such as landing gear, flight controls, and brakes. Pneumatic Pumps are expected to witness limited growth over the forecast period due to their declining usage in Aircraft. Pneumatic Pumps are typically used to provide auxiliary power for Aircraft systems, but they are being increasingly replaced by Electric Pumps.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Aircraft Pump Market Aircraft Type Insights
The Aircraft Pump Market is segmented by Aircraft Type into Commercial Airliners, Private Jets, Military Aircraft, and Helicopters. Commercial Airliners hold the largest market share due to the high demand for air travel and the increasing number of aircraft deliveries. The rising disposable income and growing air travel industry are driving the demand for Private Jets. The Military Aircraft segment is expected to witness significant growth owing to increasing defense budgets and modernization programs. Helicopters are majorly used for military and civil applications, and their demand is expected to rise with the growing focus on search and rescue operations, disaster relief, and medical evacuation.
Aircraft Pump Market Application Insights
The Application segment of the Aircraft Pump Market holds significant relevance, with each sub-segment contributing uniquely to the overall market growth. Fuel Systems, comprising pumps for fuel transfer, pressurization, and measurement, accounts for a substantial share of the market revenue. Hydraulic Systems, employing pumps for actuating flight control surfaces, landing gear, and brakes, also hold a notable market position. Pneumatic Systems, utilizing pumps to generate compressed air for various aircraft functions, represent another key sub-segment.
Lubrication Systems, incorporating pumps for oil circulation and cooling, play a crucial role in maintaining aircraft engine and component performance. Finally, Cooling Systems featuring pumps for circulating coolants to regulate aircraft temperatures contribute to the market's growth. The Aircraft Pump Market is expected to witness significant growth in the coming years, driven by factors such as increasing aircraft production, technological advancements, and growing demand for fuel-efficient pumps.
Aircraft Pump Market Regional Insights
The regional segmentation of the Aircraft Pump Market offers insights into the market's performance across various geographic regions. North America holds a significant share of the market, driven by the presence of major aircraft manufacturers and airlines. The region is expected to continue its dominance in the coming years, with a projected market value of 4.67 billion USD by 2024. Europe holds the second-largest share, with key players in the aerospace industry and a growing demand for aircraft pumps. The market in Europe is anticipated to reach 3.21 billion USD by 2024.
The Asia-Pacific region is emerging as a promising market, with increasing investments in aviation infrastructure and a growing fleet of aircraft. The region is expected to witness substantial growth, with a projected market size of 3.89 billion USD by 2024. South America and the Middle East and Africa (MEA) are expected to contribute a smaller share to the market, with market valuations of 1.25 billion USD and 1.78 billion USD respectively by 2024.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Aircraft Pump Market industry are continuously innovating and developing new products to meet the demands of the market. Leading Aircraft Pump Market players are focusing on developing pumps that are more efficient, lighter, and more reliable, Aircraft Pump Market development is being driven by a number of factors, including the increasing demand for air travel, the need to reduce fuel consumption, and the growing emphasis on safety. The Aircraft Pump Market Competitive Landscape is highly competitive, with a number of major players vying for market share. Key players in the market include Eaton, Parker Hannifin, Liebherr Aerospace, Woodward, and Triumph Group. These companies are constantly investing in research and development to improve their products and gain a competitive edge.Eaton is a leading provider of hydraulic, pneumatic, and electrical components and systems for aircraft. The company's portfolio of Aircraft Pump Market products includes pumps for fuel, lubrication, and hydraulic systems. Eaton is a major supplier to major aircraft manufacturers such as Boeing, Airbus, and Bombardier. Parker Hannifin is another leading player in the Aircraft Pump Market industry. The company offers a wide range of pumps for aircraft, including fuel pumps, hydraulic pumps, and lubrication pumps. Parker Hannifin is a major supplier to major aircraft manufacturers such as Boeing, Airbus, and Bombardier.Liebherr Aerospace is a leading provider of integrated systems for the aerospace industry. The company's portfolio of Aircraft Pump Market products includes pumps for fuel, hydraulic, and lubrication systems. Liebherr Aerospace is a major supplier to major aircraft manufacturers such as Boeing, Airbus, and Bombardier. Woodward is a leading provider of engine control systems and fuel systems for aircraft. The company's portfolio of Aircraft Pump Market products includes pumps for fuel, lubrication, and hydraulic systems. Woodward is a major supplier to major aircraft manufacturers such as Boeing, Airbus, and Bombardier.
Key Companies in the Aircraft Pump Market Include
Aircraft Pump Market Industry Developments
The aircraft pump market is projected to reach USD 14.77 billion by 2032, exhibiting a CAGR of 6.76% during the forecast period (2023-2032). Rising demand for commercial aircraft, increasing military spending, and technological advancements in aircraft systems drive market growth. The market has witnessed strategic partnerships and acquisitions among key players to expand product portfolios and gain market share. For instance, in 2023, Collins Aerospace acquired Meggitt PLC, a leading supplier of aircraft components and systems, including pumps. This acquisition strengthens Collins Aerospace's position in the aircraft pump market and enhances its offerings in fuel, hydraulic, and lubrication systems.
Aircraft Pump Market Segmentation Insights
Aircraft Pump Market Pump Type Outlook
Aircraft Pump Market Aircraft Type Outlook
Aircraft Pump Market Application Outlook
Aircraft Pump Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 7.68(USD Billion) |
| Market Size 2023 | 8.2(USD Billion) |
| Market Size 2032 | 14.77(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 6.76% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Ebara Corporation, IDEX Corporation, Eaton Corporation PLC, Gardner Denver Holdings, Inc., Sulzer Ltd., Xylem Inc., Parker Hannifin Corporation, Grundfos Holding A/S, Flowserve Corporation, Woodward, Inc., LEWA GmbH, KSB SEÂ Co. KGaA, Allweiler GmbH, Wilo SE, Hamworthy Pumps Limited |
| Segments Covered | Pump Type, Aircraft Type, Application, Regional |
| Key Market Opportunities | Electric systems for new aircraft models, growing demand for aftermarket services, rise in air travel, increasing military spending, technological advancements. |
| Key Market Dynamics | Increasing demand for fuel-efficient aircraft Growing military expenditure Aircraft modernization programs Technological advancements Environmental regulations |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Aircraft Pump Market is expected to be valued at USD 8.2 billion in 2023.
The Aircraft Pump Market is projected to grow at a CAGR of 6.76% from 2024 to 2032.
The increasing demand for fuel-efficient and lightweight aircraft is a key growth driver for the Aircraft Pump Market.
Aircraft pumps are used in a variety of applications, including fuel transfer, hydraulic systems, and environmental control systems.
Some of the key competitors in the Aircraft Pump Market include Eaton, Parker Hannifin, and Safran.
North America is expected to be the largest regional market for aircraft pumps in 2023, followed by Europe and Asia-Pacific.
Some of the key trends in the Aircraft Pump Market include the increasing adoption of electric pumps and the development of new materials for pump components.
Some of the challenges facing the Aircraft Pump Market include the high cost of development and certification and the need for lightweight and reliable pumps.
The Aircraft Pump Market is expected to reach a valuation of USD 14.77 billion by 2032.
The growing demand for fuel-efficient and lightweight aircraft, as well as the development of new technologies, are expected to create key opportunities for growth in the Aircraft Pump Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. hands on expertise in management consulting, and extensive knowledge in domain including ict, automotive & transportation and aerospace & defense. she is skilled in go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
