Aircraft Fuel Systems Market to Garner $15.7 Billion, Globally, By 2032 at 6.5% CAGR, Says Allied Market Research
The global aircraft fuel systems market is experiencing growth due to the factors such as an increase in demand for sustainable aviation fuel (SAF).
PORTLAND, OR, US, January 25, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โAircraft Fuel Systems Market," The aircraft fuel systems market was valued at $8.5 billion in 2022, and is estimated to reach $15.7 billion by 2032, growing at a CAGR of 6.5% from 2023 to 2032. Factors such as increase in demand for sustainable aviation fuel (SAF), the government support for development of new aviation fuel system for fuel-efficient aircraft and increase in aircraft deliveries boost the growth of the aircraft fuel systems market. However, high manufacturing and maintenance cost, and lack of standardization are anticipated to hinder market growth. On the other hand, growth in space tourism provides a remarkable growth opportunity for the market players operating in the market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ: https://www.alliedmarketresearch.com/request-sample/890
The report provides a detailed analysis of these key players of the global aircraft fuel systems market. These players have adopted different strategies such as new product launches, expansion, contract, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
The commercial aviation industry is experiencing notable growth due to various factors such as the expansion of global trade, economic advancement, and enhanced connectivity. This growth directly leads to an increased need for fuel systems in commercial aircraft. Furthermore, airlines are enlarging their fleets globally in response to the growing demand for air travel. For instance, in May 2023, Ryanair, a budget carrier based in Ireland, announced its intention to purchase an additional 300 new Boeing 737 Max aircraft. This strategic decision is part of the objective of Ryanair to reach an annual passenger count of 300 million. The agreement with Boeing initially involves an order for 150 aircraft, with the option to acquire an additional 150 aircraft in the future. By operating approximately 3,000 flights daily throughout Europe, this expansion is projected to further solidify the position of Ryanair within the aviation industry. These expansions necessitate the procurement of aircraft fuel systems.
Based on component, the piping segment accounted for the largest share in 2022, contributing to nearly one-third of the global aircraft fuel systems market revenue, as older aircraft undergo retrofitting and upgrades, there is a demand for improved piping systems to replace outdated or inefficient components. Upgrading the piping system may enhance fuel flow, reduce weight, and ensure compliance with updated regulations. However, the inerting systems is expected to portray the largest CAGR of 7.4% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This is owing to an increase in passenger safety and integration with fuel management systems the inerting systems segment has seen steady growth.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/aircraft-fuel-systems-market/purchase-options
Based on technology, the fuel injection segment accounted for the largest share in 2022, contributing to more than two-fifths of the global aircraft fuel systems market revenue. Also, the same segment is expected to portray the largest CAGR of 7.1% from 2023 to 2032 and is projected to maintain its lead position during the forecast period. This is owing to the need to improve combustion efficiency, reduce emissions, and enhance engine performance. Stringent environmental regulations and the focus on sustainability contribute to the adoption of fuel injection systems in aircraft engines.
๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
GKN AEROSPACE SERVICES LIMITED.
HONEYWELL INTERNATIONAL INC.
PARKER HANNIFIN CORPORATION
COLLINS AEROSPACE
SAFRAN S.A.
TRIUMPH GROUP, INC.
CRANE COMPANY
WOODWARD, INC
SECONDO MONA S.P.A.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/890
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global aircraft fuel systems market revenue. Also, the same region is expected to witness the fastest CAGR of 7.2% from 2022 to 2031 and is likely to dominate the market during the forecast period. This is owing to the huge population of Asia-Pacific and the percentage of the population that has enough disposable income to make air travel a viable proposition.
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
By application, the UAV segment is expected to register significant growth during the forecast period.
By component, the inerting Systems segment is expected to register significant growth during the forecast period.
By technology, the fuel injection segment is expected to register significant growth during the forecast period.
By application, the UAV engine segment is expected to register significant growth during the forecast period.
By region, Asia-Pacific dominated the global aircraft fuel system industry in 2022 in terms of market share.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Aircraft Electrification Market - https://www.alliedmarketresearch.com/aircraft-electrification-market-A07105
Aircraft Brake System Market - https://www.alliedmarketresearch.com/aircraft-braking-system-market-A06199
Air Ambulance Services Market - https://alliedmarketresearch.com/air-ambulance-services-market-A13700
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
![](https://www.einnews.com/tracking/article.gif?aid=683784920§ion=einpresswire&a=v_TIWxTHiRY5C3cz&i=FlWdDMX0XTqMDHR7)