Global Aircraft Fuel Systems Market was valued US$ 7.34 Bn in 2017 and is expected to reach US$ 13.32 Bn by 2026, at a CAGR of 7.73% during a forecast period.
Rising aircraft deliveries are believed to the vital driver responsible for the popularity of the aircraft fuel systems market. Aircraft are currently investing in cutting -edge lightweight aircraft fuel systems, so contributing to the further expansion of the market. However, the disinclination of certain aircraft to install advance fuel systems have hindered market growth. Conversely, modernization of aircraft, that includes an innovative refueling system as well as emergency fuel systems, is expected to create greater opportunities in the aircraft fuel systems market.
Global Aircraft Fuel Systems Market
Commercial aircraft is estimated to the largest segment of the aircraft fuel systems market during the forecast period. Growing commercial aircraft deliveries, higher demand for fuel-efficient aircraft, and increasing aircraft fleet size are key growth drivers of the segment’s market.
The jet engine is expected to remain the growth driver of the market during the forecast period, driven by higher penetration in the commercial and regional aircraft segments.
North America is expected to the leading market share during the forecast period followed by the Asia Pacific. The North American aerospace industry is well-developed and holds strong technological capabilities.
Some of the key players in the global Aircraft Fuel Systems market are GKN PLC, Zodiac Aerospace, Eaton Corporation PLC, Honeywell International, Inc., Triumph Group, Inc., Parker Hannifin Corporation Woodward, Inc., Parker Hannifin Corporation, United Technologies Corporation and Meggitt PLC.
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