Jul 1, 2021   SOURCE: BusinessWire

Worldwide Aircraft Turbine Fuel System Industry to 2028 - Bolstering Aviation Industry in China Presents Opportunities - ResearchAndMarkets.com

The "Aircraft Turbine Fuel System Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type [Hydromechanical, Full Authority Digital Engine Control, and Hydromechanical/Electronics] and Application" report has been added to ResearchAndMarkets.com's offering.

The global aircraft turbine fuel system market was valued at US$ 2,087.63 million in 2020 and is projected to reach US$ 3,303.73 million by 2028; it is expected to grow at a CAGR of 5.91% during 2020-2028.

The aircraft turbine fuel system is one of the crucial systems in aircraft. The aircraft turbine fuel system manages the flow of fuel for optimum performance of the aircraft during various stages of flight, such as rapid maneuvering, changes in altitude, and sudden acceleration or deceleration. Initially, the aircraft turbine fuel system was operated manually by the flight operators; however, with the advancement in technology, self-calibrating aircraft turbine fuel systems, such as Full Authority Digital Engine Control (FADEC), were introduced in the market.

The aircraft turbine fuel system market is experiencing significant growth owing to the increasing year-on-year government budgets for national security. Governments across the world are significantly investing in the procurement of advanced state-of-the-art commercial as well as military aircraft fleet. To cater the dynamic challenges of the defense industry, market players are investing in the development of robust and innovative systems. Additionally, growing commercial aviation industry owing to rise in disposable income among middle class population coupled with the growing MRO operation across the world is bolstering the aircraft production rate, which is propelling the demand for aircraft turbine fuel system market globally.

Amid COVID-19 outbreak pandemic, the entire commercial aviation industry came to a halt with minimal resources to foresee the future. Several production units in the US, France, Russia, and China were temporarily paused to adhere to the government rules regarding the lockdown and physical distancing. The aircraft manufacturers witnessed 30%-50% reduction in demand for most of the aircraft models, especially commercial aircraft models. The lower aircraft production and assembly declined the demand for aircraft turbine fuel system, resulting in lower revenue generation. This factor restrained the growth of the aircraft turbine fuel system market.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft turbine fuel system market.
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the global aircraft turbine fuel system market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

  • Surging Aircraft Manufacturing
  • Growing Aircraft MRO Operation

Restraints

  • Fall of B737 Max and Discontinuation of A380 Program

Opportunities

  • Bolstering Aviation Industry in China

Future Trends

  • Increasing Emphasis on Use of Lightweight Materials

Companies Mentioned

  • Eaton
  • Honeywell International Inc.
  • Jihostroj
  • Mascott Equipment Co.
  • Parker Hannifin Corp.
  • Safran
  • Triumph Group, Inc.
  • Turbine Fuel Systems Inc.
  • Woodward Inc.
  • Collins Aerospace

For more information about this report visit https://www.researchandmarkets.com/r/gh6wk