PUBLISHER: Allied Market Research | PRODUCT CODE: 1344262
PUBLISHER: Allied Market Research | PRODUCT CODE: 1344262
The Aircraft Fuel Systems Market is expected to experience a significant growth rate of 6.5% from 2023 to 2032 owing to increase in aircraft deliveries- Allied Market Research
In modern passenger or cargo aircraft with multiple engines, the fuel system is more elaborate. It comprises multiple fuel tanks located in the wings, fuselage, and sometimes the empennage (tail section). Each tank is equipped with internal fuel pumps, valves, and plumbing to supply fuel to the engines, facilitate refueling and defueling, isolate individual tanks, and, in some cases, allow for fuel dumping or optimizing the center of gravity aircraft.
The increase in military expenditures of nations around the globe to strengthen their aerial capabilities, long-term aircraft modernization contracts signed by global players with governments around the world, and extensive research and development carried out to improve output of military aircraft engines to support segment opportunities during the forecast period are all factors that expected to propel segment growth during the forecast period. For instance, in April 2023, Romania stated that it intends to acquire the latest generation of the U.S. F-35 fighter planes to improve its air defense capabilities. The F-35 is a technologically advanced fighter aircraft with advanced stealth, firepower, and situational awareness capabilities.
This rise in military aircraft purchases contributes to the expansion of the military segment of the aircraft fuel systems market. The commercial aviation industry is experiencing notable growth due to various factors such as the expansion of global trade, economic advancement, and enhanced connectivity. This growth directly leads to an increased need for fuel systems in commercial aircraft. Furthermore, the consistent growth in air passenger traffic is generating demand for more fuel efficient and technologically advanced aircraft. Fuel systems play a crucial role in optimizing fuel consumption and reducing operational expenses for airlines. These factors contribute to the growth of the commercial sector within the aircraft fuel systems market.