This report provides prognosis and analysis of the aircraft pumps market. It offers historical data along with forecast data for 2027.
[USPRwire, Tue Apr 23 2019] The purpose of this rich study presented by FactMR is to elaborate the various market projections impacting the global aircraft pumps market during the period until 2028. This assessment delivers high-end statistics concerning market size (US$ Mn), Y-o-Y growth and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about growth trends along with opportunities that are expected to reshape the overall structure of the aircraft pumps market during the forecast period.
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Established players continue to consolidate their position in the aircraft pumps market, accounting for approximately two-fifth share. Technologically advanced and customized product designs, along with the development of highly-efficient and lightweight aircraft pumps are key focus areas of these players, with an aim to remain compliant with regulations on emissions. On the other hand, regional and local aircraft pumps manufacturers are focusing on new product development, and cost-effective solutions to sustain their position in this highly competitive market. Some notable developments in the aircraft pumps market have been listed below.
- Triumph Group Inc. has recently sold its APU Repair Product Line (RPL) of Triumph Aviation Services Asia, Ltd. to TurbineAero, Inc. With this business transaction, Triumph aims at divesting its non-core business to compensate with its debts, and invest in latent opportunities.
- In 2018, Woodward Inc. acquired L’Orange GmbH for €700 million from Rolls-Royce’s Power systems business.
- Cascon has recently rolled out its Series of 300-100 pump models, to provide affordable aerospace solution for fuel and coolant pumping applications.
- The Civil Aviation Administration of China (CAAC) estimates consumption of jet fuels in the country to reach 40 million tons by 2020-end. In response to environmental concerns related to jet fuel consumption, the CAAC plans on using nearly 12 million tons of biofuels in aircrafts, thereby creating opportunities for relevant component manufacturers.
The report on the aircraft pumps market provides detailed profiling of key players, including Eaton Corporation plc, Honeywell International Inc., Crane Aerospace & Electronics, Parker Hannifin Corporation, Cascon Inc., Triumph Group, Inc., Crissair, Inc., Zodiac Aerospace, Weldon Pump LLC, and Woodward, Inc.
Influx of New Aircrafts to Create Opportunities for Players
Significant growth in passenger and freight air transport is driving the demand for new aircrafts, consequently increasing competition between manufacturers in terms of performance optimization and reduction in maintenance and operational cost. The International Air Transport Association (IATA) estimates the number of air travelers to close in on approximately 7.2 billion by 2035, with most of the traffic coming from Asia Pacific. IATA further projects China to overtake the US as the largest aviation market by 2024.
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As conventional aircrafts are fast being replaced with new fuel-efficient variants, aircraft pump manufacturers are increasingly focusing on developments in terms of high-pressure lightweight attributes. Jet pumps continue to witness significant adoption in aircraft fuel systems, owing to their greater reliability, and absence of moving parts, which further deprives the probability of failure.
Growing customer base combined with low operating costs is likely to benefit aircraft components manufacturers and OEMs in future. Airlines are increasingly opting for lightweight pumps that can improve fuel-efficiency. Additionally, growth in air passenger traffic is leading to shorter replacement cycle, this is driving demand for aircraft pumps by Maintenance, Repair, and Overhaul (MRO) industry.
Electric Motor Driven Aircraft Pumps Gain Robust Traction
More Electric Aircrafts (MEA) are now being widely recognized as the future of aerospace industry, to meet increasing power demand, improving fuel economy, and reducing emission. Aircraft manufacturers are taking significant efforts to convert hydraulic and pneumatic components in airplanes to electric. This has further resulted in robust adoption of electric motor-driven aircraft pumps, owing to their easy adjustment of input shaft power, and reduced power loss from source.
Sensing the shift, Aircraft component are focusing on enhancing their production capacity of electric motor driven pumps, while envisaging future evolutions in more electric aircraft technologies. The Advisory Council for Aeronautics Research has set a goal to reduce 50% carbon dioxide emission in air transportation in Europe by 2020.
With the advent of more electric aircraft designs, defense aircraft integrators and users continue to focus on reduced operational cost combined with easy maintenance checks, which has further complemented the replacement of mechanical and hydraulic systems with electrical variants. Aerospace companies are increasingly investing in MEA technologies while closely working with research organizations, to develop next-generation products and aircraft components.
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