Farmington, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Global Aircraft Fuel Systems Market Is Expected To Reach USD 9.15 Billion By 2022 From, At A CAGR Of 7.0% During The Forecast Period. The parts of an airplane's fuel system are made so that, no matter what happens, the engine always gets a steady flow of clean fuel at a constant pressure. Because there are so many different kinds and sizes of planes, there are many different kinds of fuel systems. A fuel system is made up of the gas tank and the fuel lines that go to the engine. This is how most people do things. On the other hand, a fuel system for a cargo plane could have more than one fuel tank. Also, there are different fuel systems for commercial, military, and unmanned aerial vehicles (UAVs). For a fuel tank to do its job, it needs to have many different parts, such as pumps, pipelines, gauges, valves, filters, and insertion systems, to name a few. Also, the way aviation fuel systems are made makes it cheaper to keep them working well over time.
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Recent Developments:
- In June, 2017: Eaton's Fuel-System Technology Supports 777X Advancements:
Since the first Boeing 777 was delivered more than two decades ago, Eaton products have played significant roles on the aircraft. Since then, Eaton has furthered its legacy as a technology leader in the aerospace industry by successfully integrating fuel system components with composite wing aircraft, a key feature of Boeing's new 777X.
- In December, 2022: Honeywell Settles Legacy Foreign Corrupt Practices Act Issues And Will Pay A Total Of $202.7 Million:
Honeywell has agreed to resolutions with the U.S. Department of Justice ("DOJ"), U.S. Securities and Exchange Commission ("SEC"), and the Brazilian authorities (the Federal Prosecution Service ("MPF"), the Comptroller General of Brazil ("CGU"), and the Attorney General of Brazil ("AGU")) to resolve previously disclosed anti-corruption investigations into the Company's historical operations in Brazil in relation to Petrobras and, more broadly, the Company's The Company will pay a total of $202.7 million in penalties, disgorgement, and prejudgment interest in connection with the resolutions.
Segment Analysis:
The market for aircraft fuel systems is divided into different parts based on their use, engine type, technology, parts, and location.
Based on how they are used, the market is divided into military, commercial, and UAVs. As more money is put into the development of unmanned aerial vehicles (UAVs) around the world, the commercial aircraft segment is expected to continue to lead the market, while the unmanned aerial vehicle (UAV) segment is expected to grow the fastest.
Jet engines, helicopter engines, turboprop engines, and engines for unmanned aerial vehicles (UAVs) have been used to divide the market into different parts. Since jet engines are often used on commercial planes, this part of the market for aircraft fuel systems is the biggest. During the time frame of the forecast, the UAV engine market will grow at the fastest rate due to the growing demand for more advanced UAVs.
The technology sector is divided into gravity feed fuel system, fuel injection system, and pump feed system. Since UAVs are small and need small combustion engines, it is expected that the electronic fuel injection (EFI) segment will have the highest growth rate over the forecast period. Miniature EFI systems are made just for small UAVs because they are less expensive and use less fuel. Currawong Engineering Pty. Ltd., based in Kingston, Tasmania, Australia, made an EFI system that makes sure the right amount of fuel is mixed in at all times during flight.
The fuel tank, fuel valve, fuel pump, fuel filter, fuel gauge, and fuel line are all different parts of the market. Maintenance, repair, and overhaul (MRO) companies are a big reason why fuel valves and fuel filters are in high demand. As passenger transportation has grown, the number of flight hours has gone up, which means that the valves and filters need to be replaced more often. Due to the growing need for military fighter planes, the market for external fuel tanks is likely to grow.
Regional Outlook:
North America is expected to have the biggest market for aircraft fuel systems over the next few years. This is because the United States is where most aerospace products are made. In this area, there are small-scale manufacturers, MRO players, and raw material suppliers.
Asia-Pacific is expected to get the most new planes over the next five years, so its market for aircraft fuel systems is likely to grow. Because they spent more on the military during the review period, India and China are expected to have strong economic growth.
In Europe, the market for fuel tanks for planes is expected to grow over the next few years as more planes are delivered. The three biggest companies that make fuel tanks for planes are Meggit PLC (United Kingdom), Safran S.A. (France), and Cobham PLC (United Kingdom) (the U.K).
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 7.0% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 9.15 Billion |
| By Type | Gravity feed fuel system, Fuel injection system, Pump feed system, Others |
| By Application | Military, Commercial, UAV, Others |
| By Companies | Eaton Corporation (the U.S.), Honeywell International Inc. (the U.S.), Triumph Group Inc. (the U.S.), GKN PLC (the U.K), Parker Hannifin Corporation (the U.S.), United Technologies Corporation (the U.S.), Woodward Inc. (the U.S.) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
The number of planes sent out has grown by a factor of ten over time. As long as the evaluation is going on, this is likely to keep happening. Because of this, a lot of factories that make planes are thinking about getting bigger. This will make more people want aircraft fuel systems, which will help the market grow in the next few years. Also, companies that make planes are spending money to make fuel systems lighter so they can meet customers' changing needs. During the time when the market was being evaluated, this would help it grow even more. Also, manufacturers are trying to make aircraft fuel systems more efficient because oil prices change all the time. This would make the engine run better and reduce costs. During the evaluation period, this would make more people want fuel systems for planes, which would help that market grow. Also, the growth of aircraft fuel systems is expected to be sped up by changes in commercial aviation and improvements in military aircraft technology. Over the assessment period, this is likely to make more people want aircraft fuel systems that use less fuel. Some plane owners don't want to instal advanced fuel systems because they are more expensive to keep up. This would make it harder for fuel systems for planes to get bigger during the assessment period. Some aircraft fuel systems are susceptible to vapour lockup. If owners have to pay more money to instal fuel systems with more advanced technology, this could slow the growth of the market mentioned above.
Key Segments Covered:
Top Market Players:
Eaton Corporation (the U.S.),, Honeywell International Inc. (the U.S.),, Triumph Group Inc. (the U.S.),, GKN PLC (the U.K),, Parker Hannifin Corporation (the U.S.),, United Technologies Corporation (the U.S.),, Woodward Inc. (the U.S.), and others.
By Type
- Gravity feed fuel system
- Fuel injection system
- Pump feed system
- Other
By Engine
- Jet aircraft engine
- Helicopter engine
- Turboprop engine
- UAV engine
- Other
By Component
- Fuel tank
- Fuel valve
- Fuel pump
- Fuel filter
- Fuel gauge
- Fuel line
- Other
By Applications
- Military
- Commercial
- UAV
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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