LONDON, March 8, 2018 /PRNewswire/ -- Increasing aircraft orders is one of the key factors expected to drive the aircraft pumps market
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The aircraft pumps market is projected to grow from an estimated USD 3.27 billion in 2017 to USD 4.79 billion by 2023, at a CAGR of 6.57% during the forecast period. The aircraft pumps market is mainly driven by the increase in aircraft orders and shorter replacement cycles of aircraft pumps. However, existing backlogs in aircraft deliveries are restraining the growth of the aircraft pumps market.
3000 psi to 5000 psi segment, by pressure, projected to lead the aircraft pumps market during the forecast period
By pressure, the 3000 psi to 5000 psi segment is projected to lead the aircraft pumps market during the forecast period. Owing to the growth of commercial aircraft orders and increasing MRO services in regions, such as Asia Pacific, the market for aircraft pumps within the category of 3000 psi to 5000 psi is projected to lead during the forecast period.
Engine driven segment, by technology, projected to lead the aircraft pumps market during the forecast period
By technology, the engine driven segment is projected to lead the aircraft pumps market during the forecast period, as every aircraft needs a main fuel pump for fluid discharge for regular fluid pumping operations. These pumps also need to be replaced at regular intervals of time
Hydraulic pumps segment projected to lead the aircraft pumps market during the forecast period
By pump type, the hydraulic pumps segment is projected to lead the aircraft pumps market during the forecast period. The shorter replacement period of aircraft pumps in commercial aircraft is expected to drive this segment in comparison to the other pump type segments in the aircraft pumps market.
Asia Pacific aircraft pumps market is projected to grow at the highest CAGR during the forecast period, 2017 to 2023
The Asia Pacific aircraft pumps market is projected to grow at the highest CAGR during the forecast period, and the countries considered in the region are China, India, and Japan, among others. The aviation industry in the Asia Pacific region has witnessed considerable growth over the past few years, owing to an increase in air passenger traffic, attractive tourist destinations, and the upgradation of existing aircraft.
The higher demand for aircraft is leading to an increase in the demand for aircraft pumps, and leading manufacturers, such as Parker Hannifin (US) are focusing on increasing their market shares in the region. Thus, the Asia Pacific region is projected to be the fastest-growing market for aircraft pumps, due to the growth of the region's aviation industry, which is supported by the increasing air passenger traffic.
Break-up of profile of primary participants in the aircraft pumps market:
• By Company Type - Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation – C level – 35%, Director level – 25%, Others – 40%
• By Region – North America - 45%, Europe – 20%, Asia Pacific – 30%, RoW – 5%
Major players in the aircraft pumps market include Parker Hannifin (US), Eaton (Ireland), Honeywell (US), Zodiac Aerospace (France), Woodward (US), and AeroControlex (US).
Research Coverage:
This research report categorizes the aircraft pumps market on the basis of type (fuel pumps, hydraulic pumps, lubrication pumps, water and waste system pumps, airconditioning and cooling pumps), technology (engine driven, electric motor driven, ram air turbine driven, and air driven), pressure (10 psi to 500 psi,500 psi to 3000 psi,3000 psi to 5000 psi, and 5000 psi to 6500 psi), application (commercial aviation, military aviation, and business and general aviation), end user (OEM and aftermarket); and maps these segments and subsegments across major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW).
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, company profiles, emerging and high-growth segments of the market, high-growth regions, and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information about aircraft pumps offered by the top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft pumps market
• Market Development: Comprehensive information about lucrative markets – the report analyzes the markets for aircraft pumps across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft pumps market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the aircraft pumps market
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