Aircraft Fuel Tank Inerting System Market Clinical Research Analysis and Global Outlook 2022 to 2027
Stratview Research delivers key insights on the global Aircraft Fuel Tank Inerting System Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Aircraft Fuel Tank Inerting System Market:
Parker-Hannifin Corporation,
Air Liquide S.A.,
Cobham plc,
Collins Aerospace (UTC),
Eaton Corporation Inc.,
ESCO Technologies Inc.,
Honeywell International Inc.,
Porvair plc,
Valcor Engineering Corporation,
Zodiac Aerospace (Safran S.A.).
Growth drivers and Market Value:
This report, from Stratview Research, studies the Aircraft Fuel Tank Inerting System Market value and growth drivers over the trend period of 2019-24. According to the report -
The aircraft fuel tank inerting system market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 493.6 million in 2024. Increasing aircraft deliveries fuelled by rising passenger traffic, the introduction of variants of existing programs, increasing the production rate of key aircraft programs, and expanding fleet size are the major factors driving the growth of fuel tank inerting systems in the aerospace industry. The fuel tank inerting system is an essential part of the airframe fuel system. The aviation industry is increasingly incorporating advanced lightweight materials in both structural and semi-structural components to reduce the weight of an aircraft. Reduction in the weight of an aircraft considerably improves fuel efficiency. Fuel tank inerting systems are also not untouched with such dynamics and experiencing a greater usage of lightweight materials, such as aluminum and advanced high-strength steel (AHSS), in order to align with the airlines’ requirements.
Segment Analysis:
Based on Platform Type:
Based on the platform type, the market is segmented into commercial aircraft and military aircraft. Commercial aircraft are expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft owing to rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment’s market. Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
Based on Region:
In terms of regions, North America is projected to remain the largest market for aerospace fuel tank inerting systems during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. The presence of all major aircraft OEMs, tier players, fuel tank inerting system suppliers, and raw material suppliers are primarily driving the aircraft fuel tank inerting system market in the country.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Aircraft Fuel Tank Inerting System Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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