North America Aircraft Turbine Fuel System Markets, 2021-2028: Use of Lightweight Materials Rising, Rising Aircraft Manufacturing, & Surging Aircraft MRO Operation - ResearchAndMarkets.com

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Rising aircraft manufacturing is the major factor driving the growth of the North America aircraft turbine fuel system market.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, April 5, 2022
Information
Tags: 
Air, Transport, Aerospace, Manufacturing, Aircraft, FADEC, CAGR, Triumph, Growth, Eaton Corporation, Textron, Gulf Stream, Parker Hannifin, Original equipment manufacturer, Workforce, OEM, Woodward, Inc., Honeywell, COVID-19, Collins Aerospace, Disease, Aviation, Airline, Jet fuel, Bombardier, A380, Boeing
Geotags: 
NORTH AMERICA, MEXICO, CANADA, US, SAFRAN
Summary
Key Points: 
  • Rising aircraft manufacturing is the major factor driving the growth of the North America aircraft turbine fuel system market.
  • However, decline of B737 Max and stoppage of A380 program hinders the growth of North America aircraft turbine fuel system market.
  • The North America aircraft turbine fuel system market is segmented into type and aircraft type.
  • Based on aircraft type, the North America aircraft turbine fuel system market is segmented as commercial aircraft, military aircraft, and general aviation aircraft.


The "North America 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" report has been added to ResearchAndMarkets.com's offering.

Full Authority Digital Engine Control (FADEC) Segment to Dominate North America Aircraft Turbine Fuel System Market during 2020-2028.

North America Aircraft Turbine Fuel System Market is expected to reach US$ 1,144.95 million by 2028 from US$ 739.94 million in 2021. The market is estimated to grow at a CAGR of 6.4% from 2021 to 2028.

The report provides trends prevailing in the North America aircraft turbine fuel system market along with the drivers and restraints pertaining to the market growth. Rising aircraft manufacturing is the major factor driving the growth of the North America aircraft turbine fuel system market. However, decline of B737 Max and stoppage of A380 program hinders the growth of North America aircraft turbine fuel system market.

The North America aircraft turbine fuel system market is segmented into type and aircraft type. Based on 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) segment held the largest share in 2020 based on type. 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 US is the worst-hit country in North America by the COVID-19 pandemic. Surge in the number of cases has led several North American governments to impose lockdown in Q2 and Q3 of 2020. Most of the manufacturing plants were temporarily shut or were operating with minimum staff.

Moreover, the aircraft OEMs as well as aircraft components and associated product manufacturers witnessed disruptions in supply chains. The US has a larger density of aircraft manufacturers as well as aircraft-associated technology and system manufacturers, followed by Canada and Mexico. The outbreak has severely affected the production operations of these stakeholders. The lower number of manufacturing staff has resulted in lesser production quantity.

From the aircraft OEM's perspective, Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key factors restraining the aircraft turbine fuel system market. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream also reported under-performance in terms of order inflow and production capacities.

Further, the region has higher numbers of aircraft turbine fuel system market players. The restrictions on workforce, disruption in supply chain, and limited volumes of orders have affected the aircraft turbine fuel system market growth in the region.

Collins Aerospace; Eaton Corporation plc; Honeywell International Inc.; Mascott Equipment Co.; Parker-Hannifin Corporation; Safran; Triumph Group, Inc.; and Woodward, Inc. are among the leading companies in the North America aircraft turbine fuel system market.

The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, 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.

Market Dynamics

Market Drivers

  • Rising Aircraft Manufacturing
  • Surging Aircraft MRO Operation

Market Restraints

  • Decline of B737 Max and Stoppage of A380 Program

Future Trends

  • Use of Lightweight Materials Rising

Companies Mentioned

  • Collins Aerospace
  • Eaton Corporation plc
  • Honeywell International Inc.
  • Mascott Equipment Co.
  • Parker-Hannifin Corporation
  • Safran
  • Triumph Group, Inc.
  • Woodward, Inc.

The report segments the North America Aircraft Turbine Fuel System Market follows:

North America Aircraft Turbine Fuel System

By Type

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

By Aircraft Type

  • Commercial Aircraft
  • Military Aircraft
  • General Aviation Aircraft

By Country

  • US
  • Canada
  • Mexico

For more information about this report visit https://www.researchandmarkets.com/r/ob9d7b

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