Aircraft Fuel Systems Market: Development Status, Emerging Technologies, Regional Trends and Comprehensive Research Study and Forecast: 2022-2031

Japan, Japan, Tue, 05 Apr 2022 04:30:47 / Comserve Inc. / -- The aircraft fuel systems market is poised to register a CAGR of more than 4% during the forecast period.

The aircraft fuel systems market is poised to register a CAGR of more than 4% during the forecast period.

- Growth in the demand for newer generation aircraft, both from the commercial and military sectors, is the main driver for the market.
- Development of light weight fuel system components, in order to cater to the demands of the customers, is expected to propel the market growth in the years to come.
- The advent of more electric infrastructure in aircraft subsystems is expected to bring structural changes into the fuel systems aboard the aircraft.

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Key Market Trends

Commercial Aircraft Segment Held the Highest Market Share in 2019

By the end of 2019, the commercial aircraft segment recorded the highest market share, primarily due to the increasing orders for newer generation commercial aircraft. In 2018, two giants in the commercial aircraft market, Airbus and Boeing, recorded 806 and 800 commercial aircraft deliveries, respectively. In addition, there was a huge order backlog for commercial aircraft OEMs, which is expected to augment continuous commercial aircraft manufacturing, and thus, the demand for parts and components of aircraft, like the fuel systems, is slated to increase. Additionally, fuel systems of an average commercial aircraft are huge and are more costly, as compared to that of military aircraft (except for the transport and tanker aircraft), general aviation aircraft, or UAV. In addition, the rising preference for ultra-long-range aircraft by many airlines is expected to make the aircraft OEMs bring changes in the existing fuel systems, in order to increase their fuel carrying capacities. For instance, Singapore Airlines ordered seven A350-900 ultra long-range aircraft, incorporated with redesigned fuel systems. Among other modifications, the redesigned fuel systems will help the aircraft in increasing their range.

Asia-Pacific to Record the Highest CAGR during the Forecast Period

The aircraft fuel systems market in Asia-Pacific is projected to register the highest CAGR during the forecast period. The region is slowly becoming an aviation hub, with China, Japan, India, Australia, Indonesia, and Thailand being some of the prominent aviation markets in the world. China and India are projected to become the largest aviation markets, globally, during the forecast period. Additionally, countries, like China, India, Japan, South Korea, and Australia, are also procuring military aircraft on a large scale. In addition to the procurements and orders, countries in Asia-Pacific are developing new aircraft, including Mitsubishi Regional Jet (MRJ) by Japan, COMAC C919 and CR929 by China, Advanced Medium Combat Aircraft (AMCA) by India, and KF-X jointly by South Korea and Indonesia. The demand for these aircraft may mostly be from the same countries, and thus, such aircraft developments are expected to enhance the growth of market revenues from the region in the years to come.

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Competitive Landscape

Eaton, Parker Hannifin Corp., Woodward, Inc., United Technologies Corporation, and Triumph Group are some of the major players in the market. Prominent players are expanding in the market, either by acquisitions or joint ventures. For instance, in April 2018, Woodward, an independent designer, manufacturer, and service provider of control solutions for the aerospace industry, acquired the fuel injection systems technology company, L'Orange, from Rolls-Royce. Such acquisitions are aimed at strengthening the presence and foothold of the players in the market. Furthermore, the advent of lightweight materials and electric architecture is making the players focus on the development of the new types of fuel systems.

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