The global aircraft fuel systems market reached a value of US$ 7.7 Billion in 2018. Aircraft fuel systems help in loading, storing, managing and delivering fuel to the propulsion system of an aircraft. They are also used for decreasing weight and optimizing the aircraft’s center of gravity (COG) by allowing fuel dumping. They comprise numerous components that ensure uniform flow of clean fuel in all operating conditions. Most aircraft fuel systems differ from each other depending on the size and type of the aircraft in which they are installed. Over the years, manufacturers have introduced pre-calibrated fuel systems that help to expedite installation for aircraft manufacturers, along with systems that do not require frequent maintenance and inspection.
Nowadays, with an increasing focus on lowering the weight of the aircraft and improving fuel efficiency, aircraft manufacturers are incorporating advanced lightweight materials in both structural and semi-structural components, which is creating the demand for lightweight, safe and reliable fuel systems. Further, the rising passenger traffic, coupled with the growing global aircraft fleet, is impelling the market growth. Various government-funded organizations are also funding research and development (R&D) activities for creating fuel systems suited for the new generation aircraft. For instance, the EU-funded SAfer FUEL (SAFUEL) project is promoting the development of systems that can meet the constraints posed by electrical connectivity and highly flammable composite materials used in modern airplanes. Manufacturers are also working on reducing the amount of electricity required for reading fuel level as well as conductive metals in fuel tanks. Some of the other factors that are strengthening the growth of the market include technological advancements in military aircraft and development in the commercial aviation sector. Looking forward, the market is further projected to reach a value of US$ 11.6 Billion by 2024, at a CAGR of around 6.5% during 2019-2024.
The report has also analysed the competitive landscape of the market with some of the key players being Eaton Corporation,Parker-Hannifin Corporation, Woodward, Inc., Honeywell International Inc., Triumph Group, Inc., Meggitt PLC, GKN plc., Safran SA, Crane Co., United Technologies Corporation, etc.
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