Aircraft Airframe Fuel Systems Market Size to reach an estimated value of US$ 4,743.1 million in 2023
February 03, 2020
The Aircraft Airframe Fuel Systems Market is projected to reach an estimated value of US$ 4,743.1 million in 2023. There are a host of factors burgeoning the demand for airframe fuel systems in the aircraft industry. Among all the drivers, the biggest one is an organic growth of aircraft demand. Boeing anticipated that there would be total deliveries of 41,030 commercial aircraft worth US$ 6.1 trillion in the global marketplace during 2017-2036. Asia-Pacific and North America would be the biggest demand generators with a combined share of 60.2% of the total commercial aircraft deliveries during 2017-2036. This factor will create a sustainable demand for fuel systems globally in the foreseeable future.
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Aircraft Airframe Fuel Systems Market Segment Insights:
By Aircraft Type:
Commercial aircraft is expected to remain the largest segment of the aircraft airframe fuel systems market during the forecast period. Increasing commercial aircraft deliveries, a higher demand for fuel-efficient aircraft, and rising aircraft fleet size are key growth drivers of the market. A320 family, B737, B787, and A350XWB would remain the growth engines of the segment’s market in the foreseeable future. The UAV segment is also projected to witness the highest growth over the next five years, propelled by a rising demand for UAVs across regions.
By Region:
North America is projected to remain the largest aircraft airframe fuel systems market during the forecast period, driven the USA. The region is the manufacturing capital of the aerospace industry with the presence of large- to small-sized aircraft manufacturers, MRO players, tier players, and raw material suppliers. The North American aerospace industry is well-developed and possesses significant technological capabilities.
Asia-Pacific is the fastest-growing market for aircraft airframe fuel systems during the same period, driven by high commercial aircraft fleet, indigenous production of commercial and regional aircraft, the opening of assembly plants in China by both major commercial aircraft OEMs (Boeing and Airbus), and increasing the defense budget. China and India are the key growth engines of the Asia-Pacific’s aircraft airframe fuel systems market.
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