South America Aircraft Turbine Fuel System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Hydromechanical, Full Authority Digital Engine Control (FADEC), and Hydromechanical/Electronics] and Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation Aircraft)
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The aircraft turbine fuel system market in SAM is expected to grow from US$ 223.17 million in 2021 to US$ 300.73 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028.
Aircraft manufacturing picking pace is the major factor driving the SAM aircraft turbine fuel system market Owing to substantial production of military and commercial aircraft fleet, the SAM 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). Commercial aviation industry is predicted to upsurge soon owing to rising number of air travel passengers and aircraft procurement. In 2020, deliveries of aircraft experienced a crunch owing to COVID-19 pandemic, which hampered deliveries. Due to the surging production volumes to bridge the gap between demand and supply of aircraft, the aircraft turbine fuel system manufactures are focusing toward increasing their production. Thus, rise in the procurement of aircraft turbine fuel system by aircraft manufactures is driving the market growth.
Brazil has reported the highest number of COVID-19 cases in SAM, followed by Peru, Chile, Colombia, and Ecuador, among others. Governments of countries in the region have taken actions to protect their citizens and contain COVID-19 spread. In SAM, Brazil is the largest spender in the aerospace industry; moreover, it is the only modern aircraft manufacturing country in the region. Thus, the country generates high demand for aircraft-related components, and systems and technologies. In addition, most of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for components such as turbine fuel systems. Thus, the COVID-19 outbreak has been limiting the SAM aircraft turbine fuel system market, especially in Brazil.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the SAM aircraft turbine fuel system market. The SAM aircraft turbine fuel system market is expected to grow at a good CAGR during the forecast period.
SAM Aircraft Turbine Fuel System Market Segmentation
SAM Aircraft Turbine Fuel System Market – By Type
- Hydromechanical
- Full Authority Digital Engine Control (FADEC)
- Hydromechanical/Electronics
SAM Aircraft Turbine Fuel System Market – By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
SAM Aircraft Turbine Fuel System Market, by Country
- Brazil
- Rest of SAM
SAM Aircraft Turbine Fuel System Market - Companies Mentioned
- Collins Aerospace
- Eaton Corporation plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Safran
- Woodward, Inc.
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