Europe 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

Europe 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 •
  • 114 pages •
  • Report ID: 6134611 •
  • Format: PDF
The aircraft turbine fuel system market in Europe is expected to grow from US$ 645.60 million in 2021 to US$ 1,115.04 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The aviation industry in the region is growing at a steady rate due to substantial production of military and commercial aircraft fleet. Over the last decade, the commercial aviation industry has witnessed tremendous growth due to growing disposable income among masses, and the emergence of low-cost carriers (LCCs) and surge in fleet expansion initiatives undertaken by the full-service carriers (FSCs). The commercial aviation industry would continue to rise at a rapid pace due to elevating number of air travel passengers and aircraft procurement. Moreover, owing to the growing importance of national security, governments of various countries, such as France and Russia, are raising their defense budgets every year. A significant portion of defense budget is spent for the procurement of carrier aircraft and compact aircraft. Thus, the growing procurement of aircraft is anticipated to propel the Europe aircraft turbine fuel system market during the forecast period.
Based on aircraft type, the North America aircraft turbine fuel system market is segmented as commercial aircraft, military aircraft, and general aviation aircraft.The commercial aircraft segment held the largest share in 2020.

The expansion of Europe commercial aviation sector is attributed to increasing air travel passengers.For instance, in March 2021, Southwest Airlines announced procurement of 100 Boeing 737 MAX planes.

Moreover, increase in disposable income among the middle-class and upper middle-class populations in Europe has propelled the growth of air travel over the years.Meanwhile, reduction in travel time and increase in comfort of commute are underlining the preference for commercial aviation.

Thus, the proliferation of the commercial aviation industry is pressurizing the aircraft manufacturers to increase respective production volumes, which in turn demands higher volumes of fuel systems. This parameter is expected to drive the aircraft turbine fuel system market in Europe in the coming years.
European countries have been experiencing a continuous surge in the COVID-19 cases.The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers.

The outbreak has affected each aviation business stakeholders’ business in the region.Several airlines in the region have postponed the pending aircraft fleet’s procurement dates to manage their current operational costs.

The aircraft OEMs and component suppliers are suffering economic losses due to this move of the airlines.Airbus, a forerunner in terms of aircraft production volume, delivered 566 aircraft in 2020, compared to 863 aircraft in 2019.

Apart from Airbus, other aircraft OEMs such as Dassault Aviation, Leonardo, Sukhoi, Tupolev, and Ilyushin, among others, also faced severe challenge in delivering substantial number of aircraft models to respective customers. This has lowered the demand for aircraft turbine fuel systems in Europe. France, Italy, the UK, and Russia are among the European countries that have a greater number of aircraft manufacturers; they are also among the severely hit countries by the pandemic.
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.; Jihostroj a.s.; Mascott Equipment Co.; Parker-Hannifin Corporation; Safran; Silver Atena GmbH; and Triumph Group, Inc. are among the key players operating in the Europe aircraft turbine fuel system market.
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