Aircraft Fuel Systems Market Expected to Reach $9.15 Billion by 2020, at a CAGR of 7.0% from 2018 to 2020 - Exclusive Report by MarketsandMarkets
The report “Aircraft Fuel Systems Market by
Application (Commercial, Military and UAV), Engine Type (Jet engine, Turboprop
engine, Helicopter engine and UAV engine), Component, Technology & Region -
Global Forecasts to 2020 ” defines and segments the global
aircraft fuel systems market with an analysis and forecast of the market size.
The global aircraft fuel systems market is expected to reach USD
9.15 Billion by 2020 from USD 6.52 Billion in 2015, at a CAGR of 7.0% during
the forecast period.
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Browse 113 tables and 81 figures spread
through 175 Pages and in-depth TOC on "Aircraft Fuel Systems Market - Global Forecasts to 2020 "
A number of
factors, such as increasing commercial aircraft deliveries, modernization of
military aircrafts, and development in the commercial aviation sector are
driving the growth of aircraft fuel system market. With oil prices being highly
fluctuating, aircraft operators are looking for more fuel-efficient aircrafts.
The weight of the aircraft plays a very important role in increasing the fuel
efficiency aircrafts. Innovations are being made by the aircraft fuel system
manufacturers to develop fuel systems made of lightweight composites to make
the aircrafts more fuel-efficient. The increase in the fuel efficiency of the
aircrafts has led to decline in operating costs, thus resulting in growth in
the aircraft fuel systems market.
The economic slowdown in North America and Europe are forcing the countries in
this regions to decrease their defense spending’s, which is one of the
restraints for the growth of the aircraft fuel systems market.
In the year
2015, the number of commercial aircraft deliveries is expected to be the
highest in Asia-Pacific making it the largest market for aircraft fuel systems,
which is anticipated to be followed by North America and Europe. The Middle
East being a central hub between Asia-Pacific and North America is expected be
the fastest-growing market for aircraft fuel systems followed by Asia-Pacific.
Some of the
key players operational in this market include Eaton Corporation Plc (U.S.),
Parker Hannifin Corporation (U.S.), Woodward, Inc. (U.S.), Honeywell
International, Inc. (U.S.), Triumph Group, Inc. (U.S.), Meggitt PLC (U.K.),
United Technologies Corporation (U.S.), GKN PLC (U.K.), and Zodiac Aerospace
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