Aircraft Fuel Systems Market Size, Share & Forecast (2019-2024)

Aircraft Fuel Systems Market Insights

The global aircraft fuel systems market is projected to grow at a healthy rate over the next five years to reach US$ 7,059.1 million in 2024. Increasing aircraft deliveries fuelled by rising passenger traffic, increasing demand for unmanned aerial vehicles, an advancement in the fuel system technology, and rising global aircraft fleet size are the major factors that are bolstering the demand for fuel systems in the aircraft industry.

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Furthermore, airlines are demanding fuel-efficient aircraft to mitigate their operational cost as fuel roughly cost 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 with such dynamics and experiencing a greater usage of advanced lightweight materials.

Aircraft Fuel Systems Market Share Analysis

Aircraft Fuel Systems Market Share by Aircraft Type

The global aircraft fuel systems market is segmented based on the aircraft type as Commercial Aircraft, Military Aircraft, and Unmanned Aerial Vehicle. 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 for the development of UAVs across the world.

Aircraft Fuel Systems Market Share by Engine Type

The aircraft fuel systems market is also segmented based on the engine type as 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 the commercial and regional aircraft.

Regional Insights

In terms of regions, 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 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 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. Eaton Corporation Plc, Parker Hannifin Corporation, Collins Aerospace, Triumph Group, Woodward, Inc., GKN Plc (GKN Aerospace), Honeywell International, Inc, Safran (Zodiac Aerospace), and Meggitt Plc are the key players in the aircraft fuel systems market. Formation of the 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.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of 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. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Market Scope & Segmentation

The market is segmented in the following ways:

Aircraft Fuel Systems Market Size, Share & Forecast by Aircraft Type:

• Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Unmanned Aerial Vehicle (UAV) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Fuel Systems Market Size, Share & Forecast by Engine Type:

• Jet Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Turboprop Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Helicopter Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• UAV Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Fuel Systems Market Size, Share & Forecast by Component Type:

• Piping (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel Tank Inerting Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel Pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel Valves (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel Tanks (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuel Filters (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Fuel Systems Market Size, Share & Forecast by Technology Type:

• Fuel Injection (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Pump Feed Technology (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Gravity Feed Technology (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Aircraft Fuel Systems Market Size, Share & Forecast by Region:

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the world (Sub-Region Analysis: The Middle East, Latin America, and Others)