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(Transportation-News.com, September 28, 2023 ) The global aircraft pumps market value Value size is projected to grow from USD 3.6 billion in 2023 to USD 4.6 billion by 2028, at a CAGR of 4.8% from 2023 to 2028. The market is driven by various factors, such as increase in aircraft renewals, need for flexible and lightweight pumps, growing commercial and military fleet across the globe, along with increasing demand for eVTOLs and Urban Air Mobility solutions.
Key Market Players:
The aircraft pumps market value includes major players Safran (France), Eaton Corporation plc (Ireland), Parker-Hannifin Corporation (US), Woodward, Inc. (US), and Crane Co. (US). These players have spread their business across various countries including North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
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Based on type, the fuel pump segment is expected to be the largest market by value. The fuel pump segment is poised to dominate the aircraft pumps market value due to its critical role in optimizing aircraft fuel efficiency, reducing emissions, and ensuring precise fuel delivery to engines. With the aviation industry's relentless pursuit of operational efficiency and sustainability, advanced fuel pump systems have become paramount. As next-generation aircraft increasingly emphasize fuel efficiency, these pumps play a central role in achieving these goals. Their contribution not only bolsters aircraft performance but also aligns with environmental objectives by curbing fuel consumption and emissions. Consequently, the fuel pump segment is primed for substantial growth as it addresses key industry imperatives.
Based on pressure, the above 3,000 psi segment is projected to be the highest CAGR rate for the aircraft pumps market value during the forecast period. Above 3000 psi aircraft pumps are poised to lead the market due to their pivotal role in modern aircraft systems. These high-pressure pumps support advanced materials and systems, enhancing performance, efficiency, and safety. They are crucial for functions like landing gear, flight control, and braking systems. Furthermore, they contribute to lightweight, fuel-efficient aircraft by reducing system weight while maintaining robust performance standards, aligning with aviation's objectives. Their capability to handle extreme pressures positions them as key drivers in the aircraft pumps market value.
Based on the technology, the electric motor driven segment is projected to be the highest CAGR rate for the aircraft pumps market value during the forecast period. Electric-driven motors offer advantages such as precise control, reduced maintenance requirements, and lower noise levels compared to traditional hydraulic systems. With the aviation sector increasingly focused on lightweight, environmentally friendly aircraft, electric-driven motors contribute significantly to achieving these objectives. Their adaptability to various aircraft systems, including fuel, hydraulic, and cooling systems, positions them as versatile solutions. As the industry continues to prioritize modernization and sustainability, the electric-driven motor segment is primed for substantial growth, providing a critical impetus to the aircraft pumps market value.
Based on the aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft pumps market value during the forecast period. The UAV segment is set to lead the aircraft pumps market value due to the rapid expansion of unmanned aerial vehicle applications across various sectors, including defense, agriculture, and surveillance. UAVs rely on efficient and compact aircraft pumps to ensure reliable operation and mission success. As UAV technology continues to evolve and diversify, the demand for specialized pumps tailored to these lightweight and versatile aircraft is expected to rise, consolidating the UAV segment's prominence in the market.
Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft pumps market value during the forecast period. As global air travel demand grows and aircraft manufacturers continue to produce next-generation, more fuel-efficient, and technologically advanced aircraft, the demand for reliable, high-performance aircraft pumps supplied directly by OEMs is on the rise. These pumps are designed to seamlessly integrate with the aircraft's systems, ensuring optimal performance and safety, making the OEM segment a pivotal driver in the aircraft pumps market value.
Based on the region, Asia-Pacific is projected to have the highest growth rate for the aircraft pumps market value during the forecast period. This is due to its expanding economies, burgeoning aviation hubs, increased defense spending, and a growing demand for air travel. With a focus on technological advancements, infrastructure development, and market liberalization, the region's airlines and manufacturers are driving the adoption of advanced aircraft pump systems to enhance efficiency and meet the demands of a surging aviation market.
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