Aircraft Fuel Systems Market Projected to Grow to $13.1 Billion by 2028, Fueled by Lightweight Material Adoption and Increasing Demand in UAVs
DUBLIN, Sept. 12, 2023 /PRNewswire/ — The “Aircraft Fuel Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global aircraft fuel systems market reached a size of USD 9.4 billion in 2022, and it is projected to grow to USD 13.1 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 5.5% during the period from 2023 to 2028.
Aircraft fuel systems are essential components that manage fuel loading, storage, delivery to the propulsion system, and even fuel dumping when needed in aircraft. They play a crucial role in optimizing the aircraft’s center of gravity (COG) and ensuring a uniform flow of clean fuel in various operating conditions.
These systems differ based on aircraft size and type, and manufacturers have introduced pre-calibrated systems to expedite installation and reduce maintenance needs. Lightweight, safe, and reliable fuel systems are increasingly in demand as aircraft manufacturers focus on weight reduction and fuel efficiency.
Market Trends and Drivers
Several trends and drivers are contributing to the growth of the global aircraft fuel systems market:
- The emphasis on lightweight materials to enhance fuel efficiency and reduce aircraft weight.
- Rising passenger traffic and the growth of the global aircraft fleet.
- Government-funded research and development (R&D) efforts to develop fuel systems for next-generation aircraft.
- Technological advancements in military and commercial aviation.
- Development of systems suitable for modern aircraft materials like composites.
- Reduction of electricity requirements for fuel level reading.
- Increasing applications in commercial, military, and unmanned aerial vehicles (UAVs) sectors.
Key Market Segmentation
The market is segmented based on engine type, component, technology, and application:
- Engine Type:
- Jet Engine
- Helicopter Engine
- Turboprop Engine
- UAV Engine
- Inerting Systems
- Fuel Control Monitoring Systems
- Fuel Injection
- Pump Feed
- Gravity Feed
The report provides a comprehensive analysis of the competitive landscape in the global aircraft fuel systems market. Key players include Eaton Corporation, Parker-Hannifin Corporation, Woodward, Inc., Honeywell International Inc., Triumph Group, Inc., Meggitt PLC, GKN plc, Safran SA, Crane Co., and United Technologies Corporation.
Key Questions Answered in This Report
- How has the global aircraft fuel systems market performed, and what is the growth outlook?
- What are the key regional markets in the aircraft fuel systems industry?
- How has COVID-19 impacted the global aircraft fuel systems industry?
- What are the market segments based on engine type, component, technology, and application?
- What are the driving factors and challenges in the industry?
- What is the competitive structure of the global aircraft fuel systems market, and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/ty5fmh
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SOURCE Research and Markets