Aircraft fuel: Key market research findings
- Next-generation fuel systems
- Growing need for aircraft weight reduction
Technavio has released a new market research report on the global aircraft fuel systems market, which is expected to grow at a CAGR of around 7% by 2020. Increase in the number of aircrafts and air passenger traffic has propelled the demand for advanced fuel systems in aircrafts. The Americas dominate the global aircraft fuel systems market, accounting for 38% of the overall market revenue. Factors such as increased government spending in search and rescue missions has boosted the growth of aircraft fuel systems in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Owing to the growing use of next-generation aircrafts, the vendors are coming up with advanced fuel systems and lightweight structures such as fuel tanks, fuselage, and wings. The advanced fuel systems, such as fuel pump and valve technologies, will deliver enhanced performance and reliability to the aircrafts. Moreover, manufacturers are using composites in the manufacture of aircraft fuel systems to reduce the overall weight of the aircraft,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
The use of composites reduce the aircraft weight by 20% in comparison to metal alloys. Vendors are increasingly using advanced composite materials in the manufacture of aircraft fuel tanks. Such fuel tanks are ultra-light, and help aircrafts to enhance loiter on target time, payload, and platform range. Composites are also expected to provide a 25% improvement in fuel consumption.
The leading vendors in the global aircraft fuel systems market are Eaton, Parker Hannifin, Honeywell International, United Technologies Corporation, and Woodward. The market is highly fragmented with a limited number of large- and small-sized players. The international vendors are collaborating with local players to enhance their customer base and market revenues and to serve the end-users effectively. Intense competition is expected to prevail in this market due to increased product extensions, technological innovations, and M&A.
A more detailed analysis is available in the Technavio report, Global Aircraft Fuel Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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