Selbyville, Delaware , Feb. 06, 2024 (GLOBE NEWSWIRE) -- Aircraft Pump Market size is projected to be valued at USD 5 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The increasing demand for new-generation fuel-efficient aircraft requiring advanced pump technologies for improved fuel management will drive the market growth. The surge in air travel globally due to the rising disposable incomes and tourism is fuelling the demand for commercial aircraft and aircraft pumps. Additionally, the continuous focus of the aerospace industry on weight reduction and fuel efficiency is amplifying the need for innovative and lightweight solutions. The influx of stringent safety and regulatory standards is also increasing the application of reliable and high-performance pumps. The growth in air transportation along with the rising technological advancements will also bolster the industry growth.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/6991
Fuel pumps to score commendable revenue
Aircraft pump market value from the fuel pumps segment reached USD 1.5 billion in 2022 and is estimated to rise at substantial CAGR through 2032 led by the increasing emphasis of the aviation sector on fuel efficiency. Several advanced fuel pump technologies are essential for optimizing aircraft performance and reducing fuel consumption. The high demand for modern, fuel-efficient aircraft due to rising environmental concerns and increased cost savings is pushing the need for innovative and efficient fuel pump systems. Moreover, the influx of stringent regulatory standards will drive the segment growth.
Ram air turbine-driven technology to reflect significant CAGR
The ram air turbine-driven technology segment in the aircraft pump market is projected to depict significant CAGR from 2023 to 2032, owing to its vital role in emergency power generation. The increasing emphasis on aircraft safety and reliability is driving the demand for ram air turbine-driven technology as it serves as backup power source during critical situations. Additionally, the commitment of the aerospace vertical to enhance safety measures along with the continuous technology advancements will boost the segment growth.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/6991
Asia Pacific to hold sizeable revenue share
Asia Pacific aircraft pump market is projected to thrive at over 7% CAGR from 2023 to 2032. The escalating air travel demands, fuelled by the economic growth and increasing disposable incomes are driving the demand for commercial and military aircraft pumps. Additionally, the expanding aviation sector in China and India coupled with the rising defense budgets are escalating the need for advanced aircraft pumps. Furthermore, the ongoing infrastructure developments and the modernization of fleets will drive the regional market expansion.
Aircraft Pump Market Participants
Some of the prominent companies operating in the aircraft pumps market include Crane Co., Eaton Corporation Plc, Honeywell International Inc., Parker-Hannifin Corporation, Safran, Woodward Inc., Zodiac Aerosystems. These industry players are focusing on collaboration initiatives to tap into different markets and broaden their customer reach. For instance, in October 2023, Triumph Group, Inc. and Honeywell Aerospace entered a long-term agreement for manufacturing and maintaining components, including boost pumps, for T55 helicopter engines and main fuel pumps for F124 fighter/trainer engines and HTF7000 business jet engines.
Browse Our Reports Store - GMIPulse @ https://www.gminsights.com/gmipulse
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
