“The Aircraft Pumps Market is expected to reach US$ 3.5 billion in 2023 and is likely to grow at a steady CAGR of 4.5% in the long run to reach US$ 4.76 billion in 2030.”
Market Dynamics
Introduction
The aircraft pumps market is projected to expand from USD 3.5 billion in 2023 to USD 4.76 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% during this period. This growth is attributed to several factors, including an uptick in aircraft fleet renewal and the burgeoning demand for more agile, lightweight aircraft equipped with advanced, compact pumping systems.
Aircraft pumps are indispensable components that facilitate critical functions such as fuel transfer, lubrication, and hydraulic power generation, thereby ensuring aircraft systems' safe and efficient operation. By supplying fuel to engines, maintaining hydraulic pressure for flight controls, and circulating lubricants to essential engine components, these pumps play a pivotal role in enhancing overall aircraft performance, safety, and functionality.
Contemporary market trends underscore a growing emphasis on lightweight, compact pump designs to optimize fuel efficiency, coupled with the integration of intelligent sensors for real-time performance monitoring. Original equipment manufacturers (OEMs) are actively engaged in research and development to leverage advanced materials and additive manufacturing techniques for pump design optimization. Industry leaders such as Honeywell International Inc., Parker Hannifin Corporation, and Eaton Corporation are at the forefront of this dynamic market, driving innovation to meet the aviation industry's stringent requirements for enhanced efficiency, reliability, and sustainability in aircraft pumping systems.
Drivers
Need for Lightweight and Compact Pumping Systems
- Fuel efficiency: Lightweight and compact pumping systems contribute to reduced overall aircraft weight, leading to lower fuel consumption.
- Performance improvement: Lighter aircraft with these systems experience enhanced operational efficiency.
- Space optimization: Compact design allows for seamless integration into tight aircraft configurations.
- Market demand: The aviation industry's relentless pursuit of fuel efficiency and performance is driving the increasing adoption of these systems.
Recent Market JVs and Acquisitions:
Strategic Alliances including M&As, JVs, etc. have been performed over the past few years:
- In July 2023, Eaton and Singapore Airlines Engineering Company Limited formed a joint venture in Malaysia for the maintenance, repair, and overhaul of Eaton-manufactured aircraft components, predominantly focusing on fuel and hydraulic systems.
- In May 2023, Parker Aerospace, a division of Parker Hannifin Corporation, secured a substantial five-year contract from the U.S. Army to overhaul and upgrade hydraulic pump and flight control actuation systems for the UH-60 Black Hawk helicopter.
- In January 2023, Triumph Group's Actuation Products and Services division obtained a contract to supply control cables for Airbus A220 emergency exit doors, leveraging its expertise in electro-hydraulic and mechanical systems.
- In June 2021, Eaton enhanced its aerospace capabilities through the acquisition of Cobham Mission Systems, expanding its product range to include air-to-air refueling, environmental systems, and actuation components.
Market Segments' Analysis
Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Type
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Hydraulic pumps, Fuel pumps, Lube and scavenge pumps, Water and wastewater pumps, Air conditioning & cooling pumps
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The Fuel pumps would lead the Market in coming years.
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Pressure
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Up to 350 psi, 350 psi – 1500 psi, 1500 psi – 3000 psi, above 3000 psi
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The above 3000 psi segment in the aircraft pumps market is expected to achieve better growth.
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Technology
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Engine driven, Electric motor driven, Ram Air Turbine driven, Air driven
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Electric Motor Driven has replaced traditional hydraulic systems and is projected for higher growth.
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Aircraft Type
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Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles
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Unmanned Aerial Vehicles is going to witness the highest CAGR in the forecast period.
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End Use
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OEM, Aftermarket
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OEM is the sub-segment that would be ahead in the end-use segment.
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Region-Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America will hold the largest share globally in the Hydrogen Hubs Market.
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By Type
“Aircraft pumps are crucial primarily due to the critical role pumps play in modernizing and expanding airline fleets.”
- The Aircraft Pumps Market is segmented into Hydraulic pumps, Fuel pumps, Lube and scavenge pumps, Water and wastewater pumps, Air conditioning & cooling pumps
- The Fuel Pumps segment is anticipated to register the largest market share in terms of value owing to its growing demand in commercial aircraft transport across the globe.
- The Hydraulic Pumps have challenges and drivers; hence growth seems to be the fastest.
By Pressure
“The Pressure significantly influences an Aircraft Pump’s performance, which is being led by pumps above 3000 psi.”
- The Pressure for the Aircraft Pumps Market is segmented into Up to 350 psi, 350 psi – 1500 psi, 1500 psi – 3000 psi, and Above 3000 psi.
- The Aircraft Pumps Market expects the above 3000 psi segment to achieve a higher CAGR due to the increasing demand for high-pressure hydraulic systems in advanced commercial and military aircraft.
- Aircraft Pumps with up to 350 psi pressure seem to improve their share as well.
By Aircraft Type
“Fixed-wing aircraft have a bigger market share than others, particularly for efficiency in long-distance travel and ability to carry heavy payloads.”
- The Aircraft Type for the Aircraft Pumps Market is segmented into Fixed Wing, Rotary Wing, and Unmanned Aerial Vehicles.
- The Fixed-Wing Aircraft can provide better performance with modernized pumps hence growth is expected.
- The rapid expansion of UAV (Unmanned Aerial Vehicles) Aircraft in both military and civilian sectors is a crucial growth factor.
By End-Use
“OEM (Original Equipment Manufacturer) end users are expected to maintain a strong position in the Aircraft Pumps Market due to technological advancements and expansion in aircraft fleet.”
- The End-Use segment of the Aircraft Pumps Market is segmented into OEM and Aftermarket.
- OEMs are increasingly focusing on innovative solutions to meet stringent regulatory standards and address environmental concerns.
- Aftermarket thrives post-COVID, driven by aging fleets, rising maintenance costs, and technological advancements.
Regional Analysis
“The Aircraft Pumps Market sector in North America will be the largest shareholder in the market, and is anticipated to grow the fastest in coming years.”
- North America will be the largest market for Aircraft Pumps Market due to its robust aerospace industry and technological innovation,
- Europe's Aircraft Pumps Market is expected to grow significantly due to technological innovation.
- The Asia-Pacific also presents a promising landscape with robust infrastructure in place.
Key Players
The Market is highly fragmented with the presence of under 100 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the Hydrogen Hubs Market.
Here is the list of the Top Players (Based on Dominance)
- Safran
- Eaton Corporation plc
- Parker-Hannifin Corporation
- Woodward, Inc.
- Crane Co.
- Honeywell International, Inc.
- Triumph Group, Inc.
- ITT, Inc.
- Diehl Stiftung & Co. Kg
- Ametek, Inc.
- Collins Aerospace
- Aerocontrolex
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides Market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into Market dynamics and will enable strategic decision-making for existing Market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive Market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global aircraft pump market is segmented into the following categories:
Hydrogen Hubs Market, By Type
- Hydraulic pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fuel pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Lube and scavenge pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Water and wastewater pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Air conditioning & cooling pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Hydrogen Hubs Market, by Pressure
- Up to 350 psi (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 350 psi – 1500 psi (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- 1500 psi – 3000 psi (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Above 3000 psi (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Hydrogen Hubs Market, by Technology
- Engine driven (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electric motor driven (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Ram Air Turbine driven (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Air driven (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Hydrogen Hubs Market, by End-Use
- OEM (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Hydrogen Hubs Market, 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: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aircraft pumps market realities and future market possibilities for the forecast period.
- The report segments and analyzes the Market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for Market participants as well as investors in the identification of the low-hanging fruits available in the Market as well as to formulate growth strategies to expedite their growth process.
- 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 End Users, such as company annual reports, fact bos, 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 Market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
- Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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