Improving economic condition all over the world has led to continuous rise in air traffic over the past few years. This has fuelled the demand for aircrafts, which in turn is driving the growth of the aircraft fuel system market. Fuel system is one of the main components of aircraft. Aircraft fuel systems allow the fuel to pass to the propulsion systems and APU (Auxiliary Power Unit). The main parts of fuel systems of an aircraft are cells, lines, tanks, filtering units, valves and pumps. The growth in aircraft fuel systems are fuelled by the rising demand for Unmanned Aerial Vehicles (UAVs). Owing to its wide range of applications in commercial, civil and military sectors, the global demand for UAVs is increasing continuously. Moreover, the maintenance charges for these aircrafts are lesser as compared to manned aircrafts, therefore, an increase in demand will, in turn, support the demand for advanced fuel systems.
Both ICAO (International Civil Aviation Organization) and EPA (Environment Protection Agency) are introducing regulations, which are intended to reduce carbon emissions from commercial aircrafts. The ICAO plans to finalize their emission standards by 2017 and aims to achieve over four percent reduction in fuel consumption in new commercial aircrafts that are built after 2028 and aircrafts that are in production delivered after 2023. Owing to the aforementioned reasons, aircraft manufacturers are trying to make advanced aircraft fuel efficient systems for better performance of aircraft engines.
Aircraft manufacturers are now building more fuel efficient planes such as Airbus 350 & Boeing 787, which are projected to already meet the proposed ICAO emission standards. Moreover, according to EPA, the U.S. based aircrafts are responsible for 29% of all greenhouse gas emissions from commercial aircraft sector, globally.
The burgeoning demand for measurement and management system in aircrafts is expected to drive growth of the aircraft fuel system market. Moreover, rise in demand for modernization of military aircrafts is also estimated to spur the demand for aircraft fuel system. However, impact of varying flying conditions on fuel management is restraining growth of the global aircraft fuel system market.
APAC is projected to be a promising region for aircraft fuel system, owing to the increasing demand for commercial aircraft deliveries. With the increasing number of passengers and budgeted airline passengers opting air travel instead of modes of transportation such as railways, the airlines sector has witnessed exponential growth, which in turn also bolstered the aircraft fuel system market. North America is also a prominent market for aircraft fuel systems owing to the growing modernization of military aircrafts such as advanced military jets and unmanned aerial vehicles.
On the basis of components, the aircraft fuel systems market can be segmented into: Piping, Fuel Gauges, Fuel Valves, Fuel Filters, Fuel Control Monitoring Systems, Inerting Systems; On the basis of application, the aircraft fuel systems market can be segmented into: Military, Commercial, UAV; On the basis of engine type, the aircraft fuel systems market can be segmented into: Helicopter Engine, Turboprop Engine, UAV Engine, Jet Engine
Examples of some of the market participants in the global aircraft fuel systems market identified across the value chain include- Eaton Corporation, United Technologies Corporation, GKN Plc, Honeywell International Inc., Meggitt Plc, Parket Hannifin Corporation, Woodward Inc., Triumph Group Inc., Crane Co., Zodiac Aerospace Sa
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