Summary - A new market study, titled “Global Aircraft Fuel Tanks
Market Research Report—Forecast till 2026” has been featured on WiseGuyReports
Summary
Global Aircraft Fuel Tanks Market Research Report—Forecast till 2026
Market Overview
Global Aircraft Fuel Tanks Market is accounted for to reach USD 992.52 Million
during the forecast period and is ready to witness a significant market growth
at a CAGR of 1.8% by 2026. An aircraft fuel tank is a major component of
aircraft fuel structure and it facilitates fuel to be loaded, arranged, managed
and deposited to the engine of an aircraft. However, these tanks vary according
to the size, complexity, and functioning of the aircraft on which they are
installed. In the case of multi-engine aircraft, the fuel system comprises of
several fuel tanks that can be located in wings, the fuselage, and in the
empennage.
The growing defense expenditures and rising passenger volume and a significant rise in demand for new aircraft are driving the growth of the global aircraft fuel tanks market. The significant growth in military expenditure is likely to boost the global market. However, the growing use of UAVs for defense and commercial applications is also propelling market growth.
Market Segmentation
The global aircraft fuel tanks market has been segregated based on type,
platform, and region. Based on the type segment the market has been further
classified into External and internal types; the internal type segment leading
the market as compared to the external type.
By Platform segment, the global aircraft fuel tanks market has been bifurcated
into civil aviation, Military Aviation, and UAV. The civil segment was
estimated for the largest market contribution in 2019 and is estimated to
command the market during the forecast period. The military aviation is
estimated to expand with a considerable CAGR owing to the rising military
expenditure and modernization of existing military aircraft with advanced
systems and technology innovations. The rising demand for fighting jets due to
rising defense investments is likely to boost the global market. The UAV
segment is anticipated to record the substantial growth owing to rising
adoption of UAVs for surveillance, border patrol, intelligence, reconnaissance,
missile detection, and satellite communications by the defense agencies and
commercial applications.
Region Analysis
Geographically, global aircraft fuel tanks market spans across North America,
Europe, Asia-Pacific, and Middle East & Africa.
North America contributes the largest market of the global aircraft fuel tanks
market followed by Europe. Europe is evaluated to hold the second large market
due to the rising use of fighter jets and UAVs by the military forces for
tactical missions during the forecast period. The Asia-Pacific market is
evaluated to grow at a high CAGR during the forecast period. The regional
growth is attributed to the growing demand for new aircraft and rising defense
investment in emerging economies such as India and China are driving regional
growth. The global aircraft fuel tanks market in Middle East & Africa is
likely to grow owing to the existence of major airlines such as Etihad Airways
and Saudi Arabian.
Major Players
The major players of global aircraft fuel tanks market are Aero Tec
Laboratories Inc. (US), Cobham plc (UK), Elbit Systems Ltd. (Israel), General
Dynamics Corporation (US), GKN Aerospace (UK), Marshall Aerospace and Defense
Group (UK), Meggitt PLC (UK), Northstar (US), Robertson Fuel Systems LLC (US),
Safran SA (France).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various
industries and verticals within all domains. Our research reports include the
same and help you understand the drop and rise, owing to the impact of COVID-19
on the industries. Also, we help you to identify the gap between the demand and
supply of your interested market. Moreover, the report helps you with the
analysis, amended government regulations and many other useful insights.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/5533005-global-aircraft-fuel-tanks-market-research-report-forecast-till-2026
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