Global Aircraft Fuel Systems Market: Overview
The passage of jet or aviation fuel to the auxiliary power unit and propulsion system is possible through the fuel system. The fuel system comprises pumps, storage tanks, filters, valves, metering devices, monitoring devices and fuel lines. These fuel systems may differ according to the aircraft performance in which they are installed. The rising demand for unmanned aerial vehicles fuels the growth of the global aircraft fuel systems market.
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Global Aircraft Fuel Systems Market: Growth Factors
The factors escalating the global aircraft fuel systems market growth are increasing modernization of military aircraft, commercial aircraft deliveries, and development in the commercial aviation sector. The fluctuating oil prices along with heavy-weight fuel systems are increasing the demand for fuel-efficient aircraft. Thus, the increase in the fuel efficiency has led to declining in the operating costs, which in turn lowers the global market growth. The rise in the number of air passenger traffic is a prospect for the global market growth. The air passenger traffic, in turn, increases the demand for new aircraft, which in turn will foster the need for aircraft fuel systems. The global market growth is influenced by the factor such as increasing investments to support oil and gas operations and acquiring new civil helicopters.
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Global Aircraft Fuel Systems Market: Segmentation
The segmentation of the aircraft fuel market is done on the basis of engine type, component, technology, application, and region. The engine type segment is further segmented into the jet engine, helicopter engine, UAV engine and a turboprop engine. The component segment of the global aircraft fuel systems market is further subdivided into valves, gauges, inerting systems, filters, piping, pumps, and fuel controlling monitoring systems. The technology segment is further categorized into pump feed, gravity feed, and fuel injection. The application segment is bifurcated into military, commercial and UAV. The region segment of the global aircraft fuel systems market is divided into the Middle East, Asia Pacific, North America, Europe and Rest of the World.
Global Aircraft Fuel Systems Market: Regional Analysis
The highest growth in the aircraft fuel systems market in the Asia-Pacific region is due to the increasing demand for the commercial aircraft deliveries. Europe and North America are also expected to be the next rapidly growing aircraft fuel systems market.
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Global Aircraft Fuel Systems Market: Competitive Players
The major players in the global aircraft fuel systems market include Some Eaton Corporation Plc, Honeywell International, Inc., GKN PLC, United Technologies Corporation, Parker Hannifin Corporation, Triumph Group, Inc., Woodward, Inc., Meggitt PLC and Zodiac Aerospace.
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