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Market Size – USD 9.13 Billion in 2020, Market Growth – at a CAGR of 6.3%, Market Trends – Growth of the aerospace sector

VANCOUVER, BC, CANADA, November 10, 2022 /EINPresswire.com/ -- The global aircraft fuel systems market size is expected to reach USD 14.95 Billion at a revenue CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the global aircraft fuel systems market can be attributed to increasing demand for increasing fuel-efficiency of aircraft. Aircraft companies are investing effort and investments in design and development of lightweight aircraft fuel systems following the green aviation concept. Aircraft emissions are responsible for global warming and increasing air pollution levels have prompted aircraft manufacturing firms to focus on reduction of greenhouse gas emissions by decreasing fuel system weight and improving fuel efficiency.

Aircraft fuel systems market revenue growth is fueled by increasing defense budget resulting in purchase of new fighter as well as transport and passenger aircraft. As per estimates, military & defense expenditure worldwide was more than USD 1980.0 billion in 2020, which was approximately 2.6% over expenses made in 2019. Increasing use of Unmanned Aerial Vehicles (UAVs) and development of stealthier, cutting-edge fixed-wing aircraft for military applications to improve aerial combat capabilities is expected to drive market revenue growth over the forecast period. Fighter aircraft provide close air support to defend land troops and also deter air strike threats by enemy aircraft; whereas in navies, such aircraft are used for detecting and neutralizing submarines and warships.

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Some Key Highlights from the Report

In October 2020, Honeywell International made an announcement about completion of acquisition of Ballard Unmanned Systems’ assets. Ballard Unmanned Systems is engaged in design and manufacture of proton exchange membrane fuel cell systems for powering UAVs, especially used for cargo delivery, energy inspection, and various other defense and commercial applications.
By engine type, jet engine segment contributed largest revenue share to the global market in 2020. A primary advantage of a jet engine in comparison to a piston engine is the enhanced ability of a jet engine to generate greater thrust at high speed and altitude. Various other benefits of a jet engine, include jet engines are much lighter and smaller for a specified amount of power, these engines are much simpler than large piston engines, have enhanced reliability and ruggedness, better capability to burn less refined and cheaper fuels, non-requirement of toxic and cost-prohibitive avgas, more fuel-efficient than larger engines, production of lesser vibration, and very low-requirement for lubrication, and bleed air can be used for HVAC applications, resulting in more cost savings associated with need for extra equipment.
By technology, gravity feed segment revenue is expected to register a significant faster CAGR over the forecast period. An advantage of gravity feed technology is that aircraft fuel will flow even if the tank outlet is not submerged in fuel. However, in case of gravity feed technology, fuel can only flow at low pressure and downhill and thus all aircraft with gravity-feed fuel systems have carbureted engines.
By component, fuel monitoring system segment contributed significantly larger revenue share in 2020. Advantages offered by fuel monitoring systems include real-time fuel level monitoring, cost tracking per mile, provision of alerts on refuel and drain, and delivery of report on fuel usage and mileage.
Aircraft fuel systems market in Asia Pacific accounted for largest revenue share in 2020 and is expected to register fastest revenue share in 2020, attributed to presence of larger population, rising disposable income, and increasing air passenger traffic leading to increasing demand for new aircraft.
 Top Leading Key Players are:

Parker Hannifin Corporation, Triumph Group PLC, Safran SA, Eaton Corporation PLC, Meggitt PLC, Woodward Inc., Raytheon Technologies, GKN Aerospace Services Limited, Crane Co., and Honeywell International Inc.

Read complete report with TOC at@ https://www.emergenresearch.com/industry-report/aircraft-fuel-systems-market

Emergen Research has segmented the global aircraft fuel systems market on the basis of engine type, technology, component, application, and region:

Engine Type Outlook (Revenue, USD Billion; 2018–2028)

Jet Engine
Turboprop Engine
Helicopter Engine
UAV Engine
Technology Outlook (Revenue, USD Billion; 2018–2028)

Pump Feed
Fuel Injection
Gravity Feed
Component Outlook (Revenue, USD Billion; 2018–2028)

Piping
Pumps
Valves
Inerting Systems
Fuel Control Monitoring System
Filters
Gauges
Application Outlook (Revenue, USD Billion; 2018–2028)

Military & Defense
Commercial
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Leading businesses who are looking for new sources of income will find this research to be quite helpful in understanding the market and its underlying dynamics. It will be helpful for businesses looking to diversify into new markets or increase the scope of their current operations.

How will this Report Benefit you?

A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Aircraft Fuel Systems market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Aircraft Fuel Systems with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.

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What Questions Should You Ask before Buying a Market Research Report?

• How is the Aircraft Fuel Systems market evolving?

• What is driving and restraining the Aircraft Fuel Systems market?

• How will each Aircraft Fuel Systems submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each Aircraft Fuel Systems submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading Aircraft Fuel Systems markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

• What are the Aircraft Fuel Systems projects for these leading companies?

• How will the industry evolve during the period between 2020 and 2030? What are the implications of Aircraft Fuel Systems projects taking place now and over the next 10 years?

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