Aircraft Fuel Tank Market, By Installed Position (Internal, External), By Aviation Type (Commercial,

Published Date: | Report Code : AD2058752

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The Global Aircraft Fuel Tank Market is projected to reach USD 909.2 million by 2028, growing at a CAGR of 2.1% during the forecast period.

Aircraft Fuel Tank Market

Aircraft fuel tank is an important component of the aircraft fuel systems and is used for the safe storage of fuel. The term aircraft fuel tank is typically applied to part of an aircraft engine system in which the fuel is stored and propelled or released into an engine.

The growth in the demand for aircraft fuel tanks is mainly due to rising production of aircraft across the globe. The rising demand for aircraft is owing to the day by day increase in passenger traffic across the globe. Also, according to IATA (International Air Transport Association), approximately 700 routes are established for better connectivity across the globe. This growth in global passenger traffic will also contribute to the growth of the airlines and aircraft industry which will lead to the growth of aircraft fuel tank market over the forecast period. Also, the R&D which is carried out on aircraft fuel tank material to optimize its strength as well as decrease the weight of the aircraft increasing its efficiency in recent years. Also, the growing focus of aircraft manufacturers on aircraft weight reduction without compromising with its strength and quality of work, expected to increase the demand for the high strength lighter weight materials aircraft fuel tank. In addition to this, the aircraft fuel tank is an integral part of all aircraft, and hence, the development of the aerospace sector will also add up to the growth of the global aircraft fuel tank market.

Segment Analysis

The aircraft fuel tank market is segmented by aviation type, installation position, material, and aircraft type. Based on aviation type, the commercial aircraft segment is expected to have the most prominent share in the market. This is because of the rising passenger traffic in the recent years due to globalization and the increasing disposable incomes leading to increased tourism. Also the military aircraft segment is expected to have a significant share in the market. This is due to the rising military budgets worldwide. According to Stockholm International Peace Research Institute (SIPRI), the world military expenditure grew to USD 1.8 trillion in 2018 representing a 2.6 % increase from 2017.
Based on the aircraft size, the wide body aircraft segment is expected to have the most prominent share in the market. This can be attributed to the increased production of wide body aircrafts worldwide to keep up with the increasing air passenger traffic.

North America accounted for the largest share in the aircraft fuel tank market. This is due to the presence of various aircraft manufacturing plants of major players like Boeing and Airbus. Also the United States has the highest military budget in the world which is also expected to propel the market in this region. Asia Pacific is expected to be the fastest growing aircraft fuel tank market. This can be attributed to the increasing air passenger traffic in the region due to the increasing disposable income and growing acceptance of air travel in the region and the indigenous production of commercial and regional aircrafts. Also, the two major aircraft manufacturers, Airbus and Boeing have opened manufacturing plants in China.

However, stringent government regulations regarding safety of the aircraft fuel tank design is expected to affect the aircraft fuel tank market.  Also, the high cost and complexity involved in the production of air craft fuel tanks is one of the key challenges to the aircraft fuel tank market.

Key Factors Impacting the Growth of Aircraft Fuel Tank Market:
    • Increasing air traffic worldwide
    • Efforts to reduce the weight of aircraft
    • Increasing military expense in several regions
    • Stringent government regulations regarding safety of the aircraft fuel tank design
    • The high cost and complexity involved in the production of air craft fuel tanks

Key Developments in the Aircraft Fuel Tank Market:
• In February 2018, Safran (France) took control of Zodiac Aerospace. This helped them significantly expand their aircraft equipment portfolio
    including fuel tanks.
• In November 2018, UTC Aerospace Systems (US) acquired Rockwell Collins and is one of the largest acquisitions in the history of aerospace
    manufacturing industry. 

Aircraft Fuel Tank Market

What Does This Report Provide? 
This report provides a detailed understanding of the global aircraft fuel tank market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the aircraft fuel tank market.

Market Segmentation:
By Installed Position:
    • Internal
        ◦ Integral
        ◦ Rigid removable
        ◦ Tip
        ◦ Bladder
    • External
        ◦ Drop
        ◦ Conformal

By Aviation Type:
    • Commercial
    • Military
    • Private

By Material:
    • Aluminum
    • HDPE
    • Steel
    • Others

By Aircraft Size:
    • Narrow Body
    • Wide Body

By Region:
    • North America
        ◦ By Country (US, Canada, Mexico)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size
    • Western Europe:
        ◦ By Country (Germany, UK, France, Spain, Rest of Western Europe)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size
    • Eastern Europe:
        ◦ By Country (Russia, Turkey, Rest of Eastern Europe)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size
    • Asia Pacific
        ◦ By Country (China, Japan, India, Rest of Asia Pacific)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size
    • Middle East:
        ◦ By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size
    • Rest of the World
        ◦ By Region (South America, Africa)
        ◦ By Installed Position
        ◦ By Aviation Type
        ◦ By Material
        ◦ By Aircraft Size

Companies Covered: Major Companies profiled in the report which are key players in the global aircraft fuel tank market include Safran, Kautex Textron GmbH & Co. KG, ContiTech AG, Tag Aviation, GKN Aerospace, Aero Tec Laboratories, Eaton Corporation, and UTC Aerospace Systems.

Historic Year

2016, 2017

Base Year

2018

Forecast Period

2019-2028 

CAGR % (2019-2028)

2.1%

Reasons to Buy This Report:
    • Market size estimation of the global aircraft fuel tank market on a regional and global basis 
    • Unique research design for market size estimation and forecast 
    • Profiling of major companies operating in the market with key developments
    • Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:
We provide customization of the study to meet specific requirements:
    • By Segment 
    • By Sub-segment 
    • By Region/Country
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