The global aircraft fuel systems market is anticipated to grow at a CAGR of 6.8% during the forecast period. The rising number of daily flights is a major factor driving the growth of the market. The Federal Aviation Administration handles more than 45,000 flights and 2.9 million airline passengers across more than 29 million square miles of airspace every day in 2020. The rising disposable income and the increasing number of private aircraft for business or recreational activities are also driving the growth of the aircraft fuel systems market. However, the fluctuating prices of raw materials required for manufacturing aircraft fuel systems may hinder the growth of the market during the forecast period. 

The COVID-19 pandemic had negatively impacted the global aircraft fuel systems market due to international trade restrictions. The supply chain disruptions had also postponed the manufacturing of aircraft fuel systems. Moreover, the lockdown norms had also restrained the traveling activities, which in turn drastically reduced the number of regular flights. This had reduced the demand for aircraft maintenance and fuel systems globally. The market is expected to show a U-shaped recovery as the COVID-19 situation gets normalized during the forecast period.

Segmental Outlook 

The global aircraft fuel systems market is segmented based on technology and application. Based on the technology, the market is segmented into gravity feed, pump feed, and fuel injection systems. Based on the application, the market is sub-segmented into commercial aircraft, military aircraft, and UAVs. Among these applications, the commercial aircraft segment holds the major share in the market owing to the rising e-commerce and international trade globally. However, the military aircraft segment is expected to grow fastest during the forecast period due to the rising defense spending of several developing nations due to their geopolitical tension. For instance, the Government of India had allotted a budget of around $60 million for defense activities, out of which 23% was allotted to the air force. The above-mentioned segments can also be customized as per the requirements.

Regional Outlooks

The global aircraft fuel systems market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).   

Global Aircraft Fuel Systems Market Growth by Region, 2022-2028

Asia-Pacific Region Holds a Significant Share in the Global Aircraft Fuel Systems Market

Asia-Pacific region holds the major share in the market as it is becoming an aviation hub globally, with China, Japan, India, Australia, Indonesia, and Thailand being major contributing nations. The increasing procuring of military aircraft on a large scale is a major factor driving the growth of the market in this region. To meet this rising demand market players are developing new innovative solutions to serve the varying needs of end-users, including Mitsubishi Regional Jet (MRJ) by Japan, COMAC C919 and CR929 by China, Advanced Medium Combat Aircraft (AMCA) by India, and KF-X jointly by South Korea and Indonesia. The demand for these aircraft may mostly be from the same countries, and thus, such aircraft developments are expected to enhance the growth of market revenues from the region in the years to come.

Market Players Outlook

The major companies serving the global aircraft fuel systems market include Eaton Corp. Plc, Honeywell International Inc., The Boeing Co., Collins Aerospace, GKN Aerospace, Parker Hannifin Corp., and Triumph Group Inc., among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance-

• In August 2021, Parker Hannifin Corp. announced an agreement on the terms of a recommended cash acquisition of Meggitt, one of the global leaders in aerospace and defense motion and control technologies.

• In October 2020, Ballard Unmanned Systems, a wholly-owned subsidiary of Southborough, Massachusetts-based Ballard Power Systems Inc., sold its assets to Honeywell. Ballard Unmanned Systems develops and manufactures stored-hydrogen proton exchange membrane fuel cell systems for unmanned aerial systems (UAS), including those used for energy inspection, cargo delivery, and other commercial and defense applications where demand for UAS services is increasing.

• Maverick Helicopters had declared up-gradation of its entire fleet of 34 EC130 B4 helicopters with Airbus crash-resistant fuel system at Heli-Expo in January 2020.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global aircraft fuel systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.