The global aircraft pumps market size is projected to grow from USD 3.3 billion in 2021 to USD 4.5 billion by 2026, at a CAGR of 6.3% from 2021 to 2026. The market is driven by various factors, such as increase in aircraft renewals and need for more flexible and light aircraft with improved, lightweight systems and compact pumping systems.
The aircraft pumps market 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 includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft pumps production and services by 7–10% globally in 2020.
“Fuel pumps: The largest segment of the aircraft pumps market, by type. “
The fuel pump segment is expected to be the largest market by value. The growth of the fuel pump segment of the aircraft pumps market can be attributed to the increase in aircraft renewals as a short-term goal for the commercial aircraft industry In the near term, the COVID-19 shock has shifted the focus to replacement after a decade of growth bias. The current downturn is expected to lead to the replacement of many older airplanes.
“Above 3,000 psi: The fastest-growing segment of the aircraft pumps market, by pressure. “
Based on pressure, the above 3,000 psi segment is projected to be the highest CAGR rate for the aircraft pumps market during the forecast period. The growth of the above 3,000 psi segment of the aircraft pumps market can be attributed to the low-weight, high-pressure hydraulic pumps enabling weight reduction of the aircraft especially for military applications.
“Electric motor driven: The fastest-growing segment of the aircraft pumps market, by technology. “
Based on the technology, the electric motor driven segment is projected to be the highest CAGR rate for the aircraft pumps market during the forecast period. This growth can be attributed to various applications of electric motor driven pumps. Auxiliary boost fuel pumps, hydraulic systems in different aircraft types, water and wastewater systems, and air conditioning and cooling systems can all be driven with an electric motor.
“Unmanned Aerial Vehicles: The fastest-growing segment of the aircraft pumps market, by aircraft type. “
Based on the aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft pumps market during the forecast period. UAVs are commonly termed drones and are mostly known for their wide usage in various military missions such as border surveillance. They are also used for mapping, surveying, and determining weather conditions of a specific area. Certain remotely piloted UAVs are designed to operate as loitering munition for defense forces.
“OEM: The fastest-growing segment of the aircraft pumps market, by end use. “
Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft pumps market during the forecast period. OEMs are responsible for the installation of pumps in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers. Over the years, there has been a significant rise in the demand for different aircraft types across regions. According to Airbus, it delivered 863 commercial aircraft to 99 customers in 2019.
“North America: The largest contributing region in the aircraft pumps market.”
North America is projected to be the largest regional share for the aircraft pumps market during the forecast period. The key factor responsible for North America, leading the aircraft pumps market owing to the rapid growth of the technologically advanced pumps in the region. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aircraft pumps to increase their sales year on year. The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as Parker-Hannifin Corporation (US), Woodward, Inc. (US), and Crane Co. (US), and Collins Aerospace (US), are expected to drive the aircraft pumps market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aircraft pumps.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Company Type: Tier 1–39%; Tier 2–37%; and Tier 3–24%
- By Designation: C Level–35%; Directors–27%; and Others–38%
- By Region: North America–55%; Europe–27%; Asia Pacific–9%; and Rest of the World–9%
Safran (France), Eaton Corporation plc (Ireland), Parker-Hannifin Corporation (US), Woodward, Inc. (US), and Crane Co. (US) are some of the leading players operating in the aircraft pumps market report.
The study covers the aircraft pumps market across various segments and subsegments. It aims at estimating the size and growth potential of this market across different segments based on type, pressure, technology, aircraft type, end use, and region. This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons To Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Aircraft Pumps Market and its segments. This study is also expected to provide region wise information about the end use, and wherein aircraft pumps are used. This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.