[201+ Pages Report] According to a market research study published by Facts and Factors, the demand analysis of Global Aircraft Fuel Tank Market size & share revenue was valued at around USD 928.60 million in 2021 and is estimated to grow to about USD 1001.57 million by 2028, at a CAGR of approximately 1.30% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are Air Tec Laboratories Inc. (US), Chobham 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), and others.
NEW YORK, May 18, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Aircraft Fuel Tank Market By Type (External, Internal), By End-Use (Aftermarket, OEM), By Platform (Commercial Aviation, Military Aviation), By Material (Carbon-based Composites, Metallic Alloys, Hybrid, Polymers), and By Region - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Aircraft Fuel Tank Market size & share was witnessed USD 928.60 million in 2021and it is projected to surpass around USD 1001.57million Mark, by 2028, at a compound annual growth rate (CAGR) of about 1.30% during the forecast period 2022 to 2028.”
What is Aircraft Fuel Tank? How big is the Aircraft Fuel Tank Industry?
The aircraft fuel tank is an essential component of all aircraft; therefore, the aerospace sector's growth will contribute to the worldwide aircraft fuel tank market's expansion in the future years. The rising demand for aircraft is one of the primary elements driving the market growth during the forecast period. Severe principles and rules from controlling specialists and significant expense of assembling arrangements are relied upon to challenge the development of the Aircraft Fuel Tanks Market.
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Market Size in 2021
USD 928.60 Million
Projected Market Size in 2028
USD 1001.57 Million
CAGR Growth Rate
Key Market Players
Air Tec Laboratories Inc. (US), Chobham 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), and Others
By Type, End Use, Platform, Material, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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Global Aircraft Fuel Tank Market: Dynamics
The factors such as the introduction of new aircraft programs and increasing aircraft orders are anticipated to drive the global aircraft fuel tanks market. Also, the research and development that is being done on aviation fuel tank material to improve its strength while also reducing the weight of the aircraft and enhancing its efficiency in the next years. Aside from that, the market for aircraft fuel tanks is an essential component of all planes. Subsequently, the global worldwide market for aircraft fuel tanks will grow due to the advancement of the aviation industry over the upcoming years.
Also, the rising emphasis of aircraft manufacturers on aircraft weight reduction without cooperating with its strength and quality of labor is expected to expand the demand for the high strength lighter weight materials in the aircraft fuel tanks.
However, the continued trend of using updated and enhanced technology equipment for better outcomes will contribute to the growth of the aircraft fuel tank market during the forecast period.
Browse the full “Aircraft Fuel Tank Market By Type (External, Internal), By End-Use (Aftermarket, OEM), By Platform (Commercial Aviation, Military Aviation), By Material (Carbon-based Composites, Metallic Alloys, Hybrid, Polymers), and By Region - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/aircraft-fuel-tank-market
Aircraft Fuel Tank Market: COVID-19 Impact Analysis
The COVID-19 pandemic has hurt the market for aircraft fuel tanks. The early invasion of the pandemic distressed the market in the most exceptionally horrible struck nations like India, Brazil, and Italy. China has been a major source of unrefined components and elements for hair embellishments for many years. Flights have been grounded worldwide to prevent the spread of COVID-19, affecting global fuel usage.
Due to supply chain and operational constraints imposed by governments as a result of the COVID-19 epidemic, there has been a shortage of demand for aircraft fuel tanks. By restricting site access to R&D facilities, the COVID-19 scenario hampered future development of aviation fuel tank technologies. Because of the delay, commercial airlines, governments, and military organizations will be unable to postpone existing aircraft fuel tank modifications. COVID-19 pandemic has led to travel prohibitions and economic closures on the airline industry, exhausting the financial resources that may aid the airplane fuel tank market grow.
Aircraft Fuel Tank Market: Segmentation Analysis
The global aircraft fuel tank market is segregated based on materials, end-user, applications, platforms, and region.
In terms of materials, the polymer segment is estimated to witness the highest CAGR in the market during the forecast period. The factors that can be attributed to their extensive use within military aircraft for their self-sealing capabilities along with increased spending on military aircraft are fuelling the demand for this segment.
In terms of type, the Outside tank is expected to dominate and account for a prominent share of the global epilepsy market during the forecast period. Conformal tanks and drop tanks are included in the exterior fuel tank section. These sorts of tanks are, to a great extent, utilized in military warrior jets. Additionally, the tactical office's Aircraft Fuel Tanks Market is expected to fuel the expansion of this area due to the growing interest in innovatively developed contender jets.
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The report contains qualitative and quantitative research on the global aircraft fuel tank market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main competitors dominating the global aircraft fuel tank market include -
Air Tec Laboratories Inc. (US)
Chobham plc (UK)
Elbit Systems Ltd. (Israel)
General Dynamics Corporation (US)
GKN Aerospace (UK)
Marshall Aerospace and Defense Group (UK)
Meggitt PLC (UK)
Robertson Fuel Systems LLC (US)
Safran SA (France)
Key Insights from Primary Research:
As per the analysis shared by our research analyst, the Aircraft Fuel Tank market is estimated to grow at a CAGR of around 1.30% during the forecast period.
In term of revenue, the Aircraft Fuel Tank market was valued at around US$ 928.60 million in 2021 and is projected to reach US$ 1001.57 million, by 2028.
In terms of applications, the commercial aircraft segment is predicted to grow at the highest CAGR throughout the forecast period, owing to rising demand for commercial aircraft and the fact that fuel tanks are the key source of maintenance expenditures, fueling the latter segments’ growth.
Based on end-users segment analysis, the OEM segment is expected to register the highest growth in the market over the projection period.
On the basis of region, China, India, Indonesia, and Australia are all expected to see significant growth in the aircraft fuel tank market in the Asia-Pacific region. This is due to considerable demand in the region from established OEM aircraft manufacturers.
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Key questions answered in this report:
What is the market size and growth rate forecast for Aircraft Fuel Tank industry?
What are the main driving factors propelling the Aircraft Fuel Tank Market forward?
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What segments does the Aircraft Fuel Tank Market cover?
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The Asia Pacific is estimated to witness the fastest growth in the global aircraft fuel tank market. This is attributed to the demand for aircraft continuously increasing, due to which aircraft manufacturers are expanding their product line, thus creating a significant requirement for aircraft fuel tanks.
Therefore, increasing aircraft orders offer a significant advantage for the aircraft fuel tanks market. Furthermore, there is an increasing trend in the aircraft industry to update existing/older aircraft.
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The global aircraft fuel tank market is segmented as follows:
Based on Type:
Based on End-Use:
Based on Platform:
Based on Material:
Based on Region:
Rest of North America
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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