Global Aircraft Pumps Market Expected to Deliver Dynamic Progression until 2027
Posted by Arslan on February 20th, 2019
The latest report on the aircraft pumps market published by Fact.MR offers valuable and actionable insights on the market along with the important factors influencing market growth. The study also includes historical data and forecast on the aircraft pumps market. Major factors including micro and macro-economic factors impacting growth of the aircraft pumps market are also highlighted in the report.
Market dynamics including latest trends, opportunities, market drivers, and challenges in the aircraft pumps market are also covered in the report. The study includes region-wise and segment-wise analysis with focus on all the key countries. Regional analysis of the aircraft pumps market includes details on the key countries in the market along with the forecast on value and volume share by each region and countries. Competitive analysis of the aircraft pumps market is also provided in the report.
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.
Air travel is expected to soar exponentially in Asia, with significant increase in aircrafts imports in China. In addition, China’s state-owned Commercial Aircraft Corp. of China is planning to introduce its narrow-body jet C919, which would come into effect in 2020.
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.
Electrification of Aircraft Propulsion to Confine Adoption
The aviation sector is showing increased interest in using electricity as a power source for airplanes, owing to their cost- and energy-related benefits over gasoline. The trend of electrification is gaining momentum in the aviation industry, as leading players show a marked preference for electric motors, thereby constraining adoption of conventional aircraft pumps.
Fuel cell-based and battery-operated systems are undergoing continued advancements, in line with the focus of industry players on the developments that ebb the power consumption below 100kw. The shift of aircraft manufacturers toward battery-operated systems, in line with advancements in the lithium-ion technology will emerge as a key concern for conventional aircraft pumps manufacturers.
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.
Market Shares Remain Consolidated among Multinationals
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.
To get a free Sample Copy of Report, Visit @ https://www.factmr.com/connectus/sample?flag=S&rep_id=2908
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About the AuthorArslan
Joined: December 18th, 2017
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