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Aircraft Fuel Systems Market
This report, from Stratview Research, studies the aircraft fuel systems market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities in the market.
The Global Aircraft Fuel Systems Market: Highlights
As per Stratview Research, the global aircraft fuel systems market is projected to grow at a healthy rate over the next five years to reach US$ 6,869.7 million in 2023. Increasing aircraft deliveries fueled by rising passenger traffic, increasing demand for unmanned aerial vehicles, 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 global aircraft industry.
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. Reduction in the weight of aircraft considerably improves the 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.
The 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 market during the forecast period. Increasing commercial aircraft deliveries, higher demand for fuel-efficient aircraft, and rising aircraft fleet size are the key growth drivers of the market. Airbus anticipated that approximately 34,900 commercial and regional aircraft will be delivered during 2017 to 2036. 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.
The market is segmented based on the engine type as Jet Engine, Turboprop Engine, Helicopter Engine, and UAV Engine. Jet engine is expected to remain the growth driver of the market during the forecast period, driven by higher penetration in the commercial and regional aircraft segments.
In terms of regions, North America is projected to remain the largest 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.
However, Asia-Pacific is likely to be the fastest-growing market for aircraft fuel systems during the same period, driven by large commercial aircraft fleet, indigenous production of commercial and regional aircraft, opening of assembly plants in China by both the major commercial aircraft OEMs (Boeing and Airbus), and increasing defense budget. China and India are the key growth engines of the Asia-Pacific’s market.
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, United Technologies Corporation, Triumph Group, Woodward, Inc., GKN Plc, Honeywell International, Inc, 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
This report offers high-quality insights and is 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. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts have been conducted to obtain both qualitative and quantitative insights.
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. The following are the key features of the report:
The aircraft fuel systems market is segmented into the following categories:
Aircraft Fuel Systems Market by Aircraft Type:
Aircraft Fuel Systems Market by Engine Type:
Aircraft Fuel Systems Market by Component Type:
Aircraft Fuel Systems Market by Technology Type:
Aircraft Fuel Systems Market by Region:
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 at sales@stratviewresearch.com
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