Dec 12, 2019 (Heraldkeepers) -- Aircraft Engine Fuel Systems Market Research Report: Information BY Engine Type (Jet Engine, Helicopter Engine, Turboprop, AND Uav Engine), BY Component (Inerting Systems, Piping, Valves, Pumps, Fuel Control Monitoring Systems, Filters, AND Gauges), BY Application (Commercial, Military, AND Uav), BY Technology (Pump Feed, Fuel Injection, AND Gravity Feed), AND BY Region (North America, Europe, Asia-Pacific, THE Middle East & Africa, AND Latin America)--Forecast TILL 2025 BY MRFR
Significant Companies : Aircraft Engine Fuel Systems Market
Significant companies in the worldwide aircraft engine fuel systems market include Woodward, Inc. (US), United Technologies Corporation (US), Parker Hannifin Corporation (US), GKN PLC (UK), Honeywell International Inc. (US), Eaton (Ireland), Safran SA (France), Crane Co. (US), Meggitt PLC (UK), Triumph Group, Inc. (US), to mention a few.
Market Scope : Aircraft Engine Fuel Systems Market
Aircraft Engine Fuel Systems Market could project a CAGR of 6% during the forecast period (2017-2023), estimates Market Research Future (MRFR).
Growth Boosters and Key Barriers
In past few years, exponential increase in aircraft deliveries has been noted all around the world; a trend that is expected to gain further momentum over the assessment period. As a result, several aircraft manufacturers are focusing on expanding their manufacturing capabilities. This will boost the demand for aircraft fuel systems, thereby stimulating market growth.
Aircraft manufacturers are also investing massively in the development of lightweight aircraft fuel systems that could meet with the evolving demands of customers. Additionally, given the fluctuating oil prices, manufacturers are attempting to improve the fuel efficiency of aircraft fuel systems, to enhance engine performance and bring down the operating costs. This is expected to hike up the demand for aircraft fuel systems in the coming years.
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The aircraft fuel systems market could achieve robust growth during the review period, backed by developments in commercial aviation as well as technical advancements in military aircraft. This is expected to intensify the demand for fuel-efficient aircraft fuel systems over the evaluation period.
Market Segmentation : Aircraft Engine Fuel Systems Market
Engine type, component, application and technology are the segments as per which the aircraft engine fuel systems market has been segmented in the MRFR report.
Depending on engine type, the market has been considered for helicopter engine, jet engine, UAV engine and turboprop. The jet engine segment led the market in 2018 and is projected to note the highest CAGR during the given timeframe. Surging air passenger traffic along with the soaring demand for new aircraft establishes the segment's dominance in the market.
Component-wise, the market can be narrowed down to piping, valves, inerting systems, fuel control monitoring systems, pumps, gauges and filters. Piping stood as the largest segment in 2018 and is predicted to achieve the highest CAGR during the review period. The surge in aircraft being manufactured has resulted in the segment's top position in the market.
Application-based segments are commercial, military, and unmanned aerial vehicle (UAV). Commercial application was the dominating segment in 2018, which could expect to advance at a strong CAGR during the evaluation period. Rising aircraft orders from Asia Pacific, as well as the Middle East, lead to growth in air passenger traffic, which benefits the segment.
With respect to technology, the market caters to fuel injection, gravity feed and pump feed. In 2018, fuel injection was identified as the highest gaining segment in the market, and is presumed to expand at the best CAGR from 2017 to 2023. Fuel injection technology enjoys robust demand owing to the benefits it offers, which includes high engine efficiency and also helps reduce lowers fuel consumption.
Regional Insight : Aircraft Engine Fuel Systems Market
The aircraft engine fuel systems market can be split into the key regions of Latin America, Middle East & Africa, Europe, Asia Pacific, and North America.