Aircraft Fuel Systems Market Analysis | 2019-2024

“The Aircraft Fuel Systems Market is likely to grow at a significant CAGR of 4.9%, in the long run, to reach US$ 7,059.1 million in 2024”. 

Market Dynamics

Introduction

Aircraft Fuel Systems is the system through which the jet fuel is pumped, managed, or delivered to the aircraft's auxiliary power unit or the aircraft propulsion system. The system is also responsible for preventing the fuel from reaching out to the engine in the case of a fire. Aircraft Fuel Systems can be of different technologies such as that of fuel injection, pump feed technology, and gravity feed technology. Different fuel systems are used in different aircraft types based on the applications.

Market Drivers

The Aircraft Fuel Systems Market is mainly driven by the following:

• Increasing aircraft deliveries fuelled by rising passenger traffic,
• Increasing demand for unmanned aerial vehicles,
• Advancement in the fuel system technology,
• Rising global aircraft fleet size is the major factor that is bolstering the demand for fuel systems in the aircraft industry.

Furthermore, airlines are demanding fuel-efficient aircraft to mitigate their operational cost as fuel is roughly 30% of the airlines’ operational cost. Aircraft manufacturers are increasingly incorporating advanced lightweight materials in both structural and semi-structural components to reduce the weight of the aircraft. The reduction in the weight of aircraft considerably improves fuel efficiency.

For instance, B787 and A350XWB, the two recently developed next-generation aircraft, constitute composite materials up to 53% of the total structural weight of the aircraft. Fuel systems are also not untouched by such dynamics and experience a greater usage of advanced lightweight materials.

Segments Analysis

By Aircraft Type

“The commercial aircraft segment is anticipated to dominate the aircraft fuel systems market throughout the forecast period”.

• This market is segmented into commercial aircraft, military aircraft, and unmanned aerial vehicle (UAV). 
• The Commercial aircraft is expected to remain the largest segment of the aircraft fuel systems market during the forecast period.
• Increasing commercial aircraft deliveries, higher demand for fuel-efficient aircraft, and rising aircraft fleet size are key growth drivers of the segment’s market.
• Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
• The UAV segment is also projected to witness the highest growth over the next five years, propelled by increasing investment in the development of UAVs across the world.

By Engine Type

“The jet engine segment is projected to drive the growth of the aircraft fuel systems market during the forecast period”.

• This market is segmented into jet engine, turboprop engine, helicopter engine, and UAV engine. 
• The jet engine is expected to remain the growth engine of the aircraft fuel systems market during the forecast period, driven by a higher penetration in commercial and regional aircraft.

Regional Analysis

“North America is expected to be the largest aircraft fuel systems market, driven by the USA, while Asia-Pacific is projected to be the fastest-growing market during the forecast period”.

• The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
• In terms of region, North America is projected to remain the largest aircraft fuel systems market during the forecast period, driven by the USA.
• The region is the manufacturing capital of the aerospace industry with the presence of several large- to small-sized aircraft manufacturers, MRO players, tier players, and raw material suppliers.
• The North American aerospace industry is well-developed and possesses strong technological capabilities.
• Asia-Pacific is the fastest-growing market for aircraft fuel systems during the same period, driven by a high commercial aircraft fleet, indigenous production of commercial and regional aircraft, the opening of assembly plants in China by both major commercial aircraft OEMs (Boeing and Airbus), and increasing the defense budget.
• China and India are the key growth engines of the Asia-Pacific’s aircraft fuel systems market.

Key Players

The following are the key players in the Aircraft Fuel Systems Market (arranged alphabetically)

• Collins Aerospace
• Eaton Corporation Plc
• GKN Plc (GKN Aerospace)
• Honeywell International Inc.
• Meggitt Plc
• Parker Hannifin Corporation
• Safran (Zodiac Aerospace)
• Triumph Group
• Woodward, Inc.

The supply chain of this market comprises raw material suppliers, component manufacturers, fuel system suppliers, engine OEMs, aircraft OEMs, MRO companies, airline companies, and aircraft leasing companies. The formation of long-term contracts, the 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.

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.