The aircraft turbine fuel system market in APAC is expected to grow from US$ 395.74 million in 2021 to US$ 575.84 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.
Australia, China, India, Japan, and South Korea are major economies in APAC. Exponential growth of aviation industry in China is the major factor driving the APAC aircraft turbine fuel system market. Since the beginning of the 21st century, the aviation industry has flourished in China. At present, China holds the second-largest aviation market after the US. Boeing, American aircraft giant, in November 2020 announced that Chinese carriers are projected to acquire 8,600 new airplanes over the next 20 years. Also, the country’s commercial jet fleet has expanded sevenfold since 2000, which is ~25% of all aviation growth worldwide over the past decade. According to Carnoc, about 25% of the APAC single-aisle aircraft were procured by Chinese carriers. The incremental growth of the aviation industry in China is attributed to rapid growth in middle-class consumers coupled with robust economic growth and growing urbanization. Further, the Aircraft giants such as Boeing and Airbus have manufacturing assemblies in China, which complements the growth of the aircraft turbine fuel system market. Also, in setback of Boeing 737, two consecutive crash and the announcement of discontinuation of Airbus A320 is projected to complement the adoption of COMAC C919 and C929 aircraft as these are considered the immediate substitute to Boeing 737 and Airbus A320. Meanwhile, the country has the second-largest defense budget across the world after the US, and a significant portion of the defense is allotted to the procurement of advanced military aircraft and upgradation & MRO operations. Thus, all these are bolstering the aviation industry in China, which is projected to create ample growth opportunities for aircraft turbine fuel system market players. The COVID-19 outbreak has resulted in a massive financial loss to APAC countries. The governments of these countries have been continuously taking possible steps to reduce the intensity of the pandemic by announcing lockdown and rolling out physical distancing measures (post lockdown). China is one of the leading aerospace manufacturing countries in the region and has been one of worst-affected countries in the Q1 and Q2 of 2020. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantially low demand for various components and systems, including turbine fuel systems. Similarly, COMAC, China’s indigenous aircraft manufacturer, halted its production of C919 during Q1. India, Japan, and South Korea are still combating the virus. However, the countries have eased the lockdown measures, which is reflecting the resumption of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs regionally and internationally. This has been negatively affecting the aircraft turbine fuel system market in APAC.
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 APAC aircraft turbine fuel system market. The APAC aircraft turbine fuel system market is expected to grow at a good CAGR during the forecast period.
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APAC Aircraft Turbine Fuel System Market Segmentation
APAC Aircraft Turbine Fuel System Market – By Type
- Hydromechanical
- Full Authority Digital Engine Control (FADEC)
- Hydromechanical/Electronics
APAC Aircraft Turbine Fuel System Market – By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
APAC Aircraft Turbine Fuel System Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Aircraft Turbine Fuel System Market - Companies Mentioned
- Collins Aerospace
- Eaton Corporation plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Safran
- Triumph Group, Inc.
- Woodward, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type and Aircraft Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Aircraft Turbine Fuel System Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
5. APAC Aircraft Turbine Fuel System – Market Dynamics
5.1 Market Drivers
5.1.1 Significantly Growing Aircraft Manufacturing
5.1.2 Aircraft MRO Operation Witnessing Surge
5.2 Market Restraints
5.2.1 Discontinuation of A380 Program and Fall of B737 Max
5.3 Market Opportunities
5.3.1 Exponential Growth of Aviation Industry in China
5.4 Future Trends
5.4.1 More Attention on Use of Lightweight Materials
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Turbine Fuel System Market – APAC Market Analysis
6.1 APAC Aircraft Turbine Fuel System Market Overview
6.2 APAC Aircraft Turbine Fuel System Market Revenue Forecast and Analysis
7. APAC Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 – Type
7.1 Overview
7.2 APAC Aircraft Turbine Fuel System Market, By Type (2020 & 2028)
7.3 Hydromechanical
7.3.1 Overview
7.3.2 Hydromechanical: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
7.4 Full Authority Digital Engine Control (FADEC)
7.4.1 Overview
7.4.2 Full Authority Digital Engine Control (FADEC): Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
7.5 Hydromechanical/Electronics
7.5.1 Overview
7.5.2 Hydromechanical/Electronics: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Aircraft Turbine Fuel System Market Analysis and Forecast to 2028 – Aircraft Type
8.1 Overview
8.2 APAC Aircraft Turbine Fuel System Market, By Aircraft Type (2020 & 2028)
8.3 Commercial Aircraft
8.3.1 Overview
8.3.2 Commercial Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8.4 Military Aircraft
8.4.1 Overview
8.4.2 Military Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8.5 General Aviation Aircraft
8.5.1 Overview
8.5.2 General Aviation Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Aircraft Turbine Fuel System Market – Country Analysis
9.1 Overview
9.1.1 APAC: Aircraft Turbine Fuel System Market, by Key Country
9.1.2 Australia: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1 Australia: Aircraft Turbine Fuel System Market, by Type
9.1.2.2 Australia: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.3 China: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1 China: Aircraft Turbine Fuel System Market, by Type
9.1.3.2 China: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.4 India: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.1 India: Aircraft Turbine Fuel System Market, by Type
9.1.4.2 India: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.5 Japan: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.1 Japan: Aircraft Turbine Fuel System Market, by Type
9.1.5.2 Japan: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.6 South Korea: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.6.1 South Korea: Aircraft Turbine Fuel System Market, by Type
9.1.6.2 South Korea: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.7 Rest of APAC: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.7.1 Rest of APAC: Aircraft Turbine Fuel System Market, by Type
9.1.7.2 Rest of APAC: Aircraft Turbine Fuel System Market, by Aircraft Type
10. APAC Aircraft Turbine Fuel System Market - COVID-19 Impact Analysis
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Collins Aerospace
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Eaton Corporation plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Honeywell International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Parker-Hannifin Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Safran
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Triumph Group, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Woodward, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Aircraft Turbine Fuel System Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of APAC: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Aircraft Turbine Fuel System Market Segmentation
Figure 2. APAC Aircraft Turbine Fuel System Market Segmentation – By Country
Figure 3. APAC Aircraft Turbine Fuel System Market Overview
Figure 4. APAC Aircraft Turbine Fuel System Market, by Type
Figure 5. APAC Aircraft Turbine Fuel System Market, by Aircraft Type
Figure 6. APAC Aircraft Turbine Fuel System Market, By Country
Figure 7. APAC Aircraft Turbine Fuel System Market - Porter’s Five Forces Analysis
Figure 8. APAC Aircraft Turbine Fuel System Market: Ecosystem Analysis
Figure 9. APAC Aircraft Turbine Fuel System Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Aircraft Turbine Fuel System Market Revenue Forecast and Analysis (US$ Million)
Figure 11. APAC Aircraft Turbine Fuel System Market, by Type (2020 & 2028)
Figure 12. APAC Hydromechanical: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Full Authority Digital Engine Control (FADEC): Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Hydromechanical/Electronics: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Aircraft Turbine Fuel System Market, By Aircraft Type (2020 & 2028)
Figure 16. APAC Commercial Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Military Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC General Aviation Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC: Aircraft Turbine Fuel System Market, by Key Country – Revenue 2020 (US$ Million)
Figure 20. APAC: Aircraft Turbine Fuel System Market Revenue Share, by Key Country (2020 & 2028)
Figure 21. Australia: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of APAC: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in APAC Country Markets
- Collins Aerospace
- Eaton Corporation plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Safran
- Triumph Group, Inc.
- Woodward, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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