Aircraft Engine Fuel Systems Market Is Booming Worldwide With Current Trends, Growth, Value, Swot Analysis
Aircraft segment is witnessing continuous boost since the last few decades, and it is striving for constant innovation. Aircraft engine fuel systems are experiencing several of those latest technological implementations owing to which a rapid transformation is taking place. Aircrafts are getting upgraded in the process, and the operational cost is plummeting. The global aircraft engine fuel systems market can expect a robust growth during the forecast period (2017-2023), owing to demands from aviation industry for fuel-efficient aircrafts.
Market Research Future (MRFR) in their report includes drivers such as the development of lightweight fuel delivery systems and the presence of emergency fuel systems in next-generation planes that are going to take the market further ahead. In addition, composite manufactured fuel systems are gaining much traction in the industry which can take the aircraft engine fuel systems market a notch higher.
However, certain aircraft companies are reluctant to install these latest designs owing to which the aircraft engine fuel systems market can witness its tempo slowing down during the forecast period.
Parker’s collaboration with Oxsensis has resulted in the development of silica-based optical high-accuracy pressure sensor (SOHAPS) systems that can replace the 20 to 30 capacitance probes and additional fuel property sensors. Geared with only three electromagnetic interference (EMI)-immune, non-electrical, optical sensors to measure fuel system pressure, each tank can perform more efficiently and incur less cost.
3D printing, carbon fibers, and shape memory alloys (SMA) are getting used in the manufacturing of aircrafts which reduces the overall weight giving engine fuel systems a much-needed boost.
The global aircraft engine fuel systems market can be segmented by engine type and application.
By engine type, the aircraft engine fuel systems market can be segmented into jet engine, helicopter engine, turboprop, unmanned aerial vehicle (UAV) engine.
Application-wise, the aircraft engine fuel systems market includes commercial aircraft, military aircraft, and UAV.
Region-specific analysis of the aircraft engine fuel systems market covers North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America (LATAM).
North America commands a considerable share of the market revenue. Its superior position is based on some infrastructural advantages and heavy government investments in research & development. Technological advancement is giving the segment desired traction with major global players implementing those in their manufacturing process. As it is one of the major hubs for the aviation industry, it can expect substantial growth in coming years as well.
The APAC region is expected to register the fastest CAGR during the forecast period. The region is showing a keen interest in upgrading aviation and defense industry. In doing so, emerging economies such as India, China, South Korea, and other countries are investing in the segment to gear themselves up with latest technologies. The region is also experiencing the integration of advanced technologies which can act like a further stimulant.
The global aircraft engine fuel systems market is experiencing several strategical implementations that could trigger further market growth. Parker, for instance, is teaming up with Safran and is planning to use robotic welding and innovative manufacturing to speed up aircraft production. On the other hand, Rolls-Royce and Woodward, Inc. have inked agreement giving Woodward rights to acquire L’Orange, a company which has superior fuel injection systems technology.
Notable players of the global aircraft engine fuel systems market are Eaton Corporation Plc, Parker Hannifin Corporation, United Technologies Corporation, Triumph Group, Woodward, Inc., GKN Plc, Honeywell International, Inc., Zodiac Aerospace, and Meggitt Plc., and others.