Asia Pacific Aircraft Turbine Fuel System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Hydromechanical, Full Authority Digital Engine Control, and Hydromechanical/Electronics] and Aircraft Type

Asia Pacific Aircraft Turbine Fuel System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Hydromechanical, Full Authority Digital Engine Control, and Hydromechanical/Electronics] and Aircraft Type

  • July 2021 •
  • 106 pages •
  • Report ID: 6134559 •
  • Format: PDF
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. The APAC aviation industry players are emphasizing on manufacturing, integration, or mounting of lightweight materials on aircraft. The aviation authorities, aircraft manufacturers, aircraft component manufacturers, MRO service providers, and military forces are seeking lightweight materials for each component to extend the flying range of the aircraft and increase fuel-efficiency. As the aircraft turbine fuel system is considered critical components of any aircraft, the demand for lightweight aircraft turbine fuel systems is increasing. This factor encourages aircraft turbine fuel system manufacturers to design and develop the lightest possible aircraft turbine fuel systems for the modern aircraft fleet. AeroComposites (AGC) and Technical Fibre Products Ltd (TFP) announced a new lightweight composite solution for aircraft fuel systems, under joint a development program. The duo has developed electrostatic and lightning compatible composite pipes, which have applications in aircraft fuel systems. Newly developed pipes reduce weight up to 200 kg per aircraft. Thus, the development of such lightweight component for aircraft turbine fuel system is anticipated to generate ample growth opportunities for aircraft turbine fuel system market players in the coming years.
Based on aircraft type, military aircraft segment led the APAC aircraft turbine fuel system market in 2020.The increase in defense budgets across the world for the procurement of combat aircraft fleet and transport aircraft fleet is paving the adoption of aircraft turbine fuel systems.

Countries such as India, Japan, and China are significantly increasing their year-on-year air defense budgets with an objective to modernize the aircraft fleet.For instance, in 2020, Japan received an approval for purchasing 105 F-35 combat aircraft worth US$35 billion from the US government.

Similarly, India announced a contract with Dassault Aviation for 36 Rafael multi-role fighter jets with a contractual valuation of US$ 9.0 billion; of this order, five were delivered in July 2020. In February 2020, the Indian government awarded contracts worth US$ 3 billion to Lockheed Martin Corporation and Boeing to deliver 24 MH-60R Seahawk multi-role helicopters and 6 AH-64E Apache, respectively. Thus, with the increasing procurement of aircraft fleet combat aircraft is expected to drive the aircraft turbine fuel system market in APAC during the forecast period.
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.
The overall North America aircraft turbine fuel system market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

The process also serves the purpose of obtaining an overview and forecast for the North America aircraft turbine fuel system market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic.

The participants typically involved in the process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the North America aircraft turbine fuel system market. Collins Aerospace; Eaton Corporation plc; Honeywell International Inc.; Parker-Hannifin Corporation; Safran; Triumph Group, Inc.; and Woodward, Inc. are among the key players operating in the APAC aircraft turbine fuel system market.
Loading...

We are very sorry, but an error occurred.
Please contact [email protected] if the problem remains.