Aircraft Turbine Fuel System Market Growth Opportunities and Forecast by 2028

[Research Report] The 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 6.4% from 2021 to 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. 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.

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Aircraft Turbine Fuel System Market: Strategic Insights

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Impact of COVID-19 Pandemic on Aircraft Turbine Fuel System Market

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.

Aircraft Turbine Fuel System Market Insights

Surging Aircraft Manufacturing

Owing to substantial production of military and commercial aircraft fleet, the global aviation industry is growing at a steady rate. Over the last decade, the commercial aviation industry has witnessed tremendous growth owing to growing disposable income among masses coupled with emergence of low-cost carriers (LCCs) and various fleet expansion initiatives undertaken by the full-service carriers (FSCs). The commercial aviation industry is predicted to upsurge in the near future owing to rising number of air travel passengers and aircraft procurement. Thus, the growing procurement of aircraft across the world is anticipated to propel the aircraft turbine fuel system market during the forecast period.

Type-Based Market Insights

Based on the type, the aircraft turbine fuel system market is segmented into hydromechanical, full authority digital engine control (FADEC), and hydromechanical/electronics. The Full Authority Digital Engine Control (FADEC) uses a digital computer, known as an EEC (Electronic Engine Control) or ECU (engine control unit), and related accessories to control the parameters of aircraft engine performance. The FADEC functions by receiving multiple input variables, such as engine temperatures, engine pressures, throttle lever position, and air density of real-time flight conditions. The input is gathered by ECU or EEC and is processed up to 70 times per second. Better fuel efficiency, efficient engine operation, automatic engine protection with regards to out-of-tolerance operations, better system integration with engine and aircraft systems, and engine monitoring and diagnostics are the major factors driving the growth of aircraft turbine fuel system market.

The players operating in the aircraft turbine fuel system market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

• In 2021, Honeywell International Inc. announced the development of a turbogenerator for hybrid-electric aircraft. The new turbogenerator will run on jet fuel, diesel, and sustainable fuel alternatives.

• In 2021, Triumph Group, Inc. announced that it has secured multiple contract extensions with Boeing Commercial Airplanes, which would extend their collaboration on critical system components. The contracts highlight Triumph's strategic focus on high-value systems offerings including actuation, hydraulic and fuel systems, geared solutions, as well as maintenance, repair, and overhaul offerings.

Aircraft Turbine Fuel System Market Regional Insights

The regional trends and factors influencing the Aircraft Turbine Fuel System Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Aircraft Turbine Fuel System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Aircraft Turbine Fuel System Market Report Scope

Aircraft Turbine Fuel System Market Players Density: Understanding Its Impact on Business Dynamics

The Aircraft Turbine Fuel System Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

The report segments the global aircraft turbine fuel system market as follows:

By Type

• Hydromechanical
• Full Authority Digital Engine Control (FADEC)
• Hydromechanical/Electronics

By Application

• Commercial Aircraft
• Military Aircraft
• General Aviation Aircraft

By Geography

• North America
  • US
  • Canada
  • Mexico

• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe

• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC

• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Rest of SAM

Company Profiles

• Collins Aerospace
• Eaton Corporation plc
• Honeywell International Inc.
• Jihostroj a.s.
• Mascott Equipment Co.
• Parker-Hannifin Corporation
• Safran
• Silver Atena GmbH
• Triumph Group, Inc.
• Woodward, Inc.