According to Fact.MR, the global sales of aircraft pumps will surpass US$ 6 Bn by 2022-2032, registering a 5% CAGR. With leading players concentrating on electric propulsion technology, the aviation industry is about to undergo a significant change in propulsion. Stakeholders are becoming more interested in electric aircraft as a result of their advantages, which include high efficiency as well as low fuel and maintenance costs.
In the past, the sales of aircraft pumps exceeded US$ 3.73 Bn from 2017 to 2021. Global travel restrictions increased as a result of the COVID-19 pandemic. In turn, this had an impact on the need for aircraft pumps during the first quarter of the pandemic.
Sales suffered during the height of the COVID-19 epidemic as a result of the sharp decline in domestic and international air travel. The International Civil Aviation Organization (ICAO) reported that passenger flight traffic fell by almost 60% in 2020 compared to 2019. As restrictions loosened up over time as a result of decreased infection rates, things started to look up in 2021.
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As aircraft OEMs work with suppliers to develop new systems and electric propulsion technology, the trend toward electric aircraft is accelerating. Additionally, NASA is funding studies on Electrified Aircraft Propulsion (EPA) to reduce commercial aircraft noise, emissions, and fuel consumption. The demand for aircraft pumps will therefore rise during the assessment period as a result of the aforementioned factors.
Important conclusions from the market study
· During the sales indicator period, jet pumps are anticipated to account for more than 40% of the market for aircraft pumps.
· According to technology, electric motor driven pumps are anticipated to hold a market share of more than 40% for aircraft pumps.
· During the assessment period, Asia Pacific is anticipated to account for 50% of the aircraft pump market.
· During the forecast period, Europe is anticipated to hold a market share of more than 30% for aircraft pumps.
Market Size Value in 2021
US$ 3.73 Bn
Project Market Forecast Value in 2032
US$ 6 Bn
Global Growth Rate (2022-2032)
Market Share of Asia Pacific
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With established companies controlling about 2/5 of the market share, the aviation pump sector is continuing to consolidate. These players are concentrating on technologically advanced and customised product designs, as well as the development of incredibly effective and lightweight aircraft pumps, with the aim of maintaining compliance with emissions standards.
· In order to establish a joint venture to overhaul nacelles for the former's next-generation aircraft manufacturing and repair facility in Arkansas, Triumph Group and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) signed a legally binding agreement in March 2021.
· Cobham Mission Systems, a well-known producer of air-to-air refuelling systems, environmental systems, and actuation, primarily for the defence industries, was acquired by Eaton in June 2021.
Key Players in the Aircraft Pumps Market are
- Honeywell International Plc.
- Parker Hannifin Corp.
- Eaton Corporation Plc.
- Crane Aerospace & Electronics
- Triumph Group Inc.
- Woodward Inc.
- Cascon Inc.
- Weldon Pump LLC
- Crissair Inc.
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Key Segments Covered
- By Type :
- Hydraulic Pumps
- Fuel Pumps
- Lubrication Pumps
- Water & Waste
- System Pumps
- Air Conditioning and Colling Pumps
- Jet Pumps
- By Technology :
- Engine Driven
- Electric Motor Driven
- Ram Air Turbine Driven
- Air Driven
- By Pressure :
- 10 psi to 500 psi
- 500 psi to 1000 psi
- 3000 psi to 5000 psi
- 5000 psi to 6500 psi
- By Aircraft Type :
- Narrow Body Aircraft
- Wide Body Aircraft
- Regional Jet
- By End User :
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