Fuel systems differ greatly in terms of the size and complexity of the aircraft in which they are installed. The fuel tank is an integral part of these fuel system in an aircraft, where it is associated with fuel line connecting it to the aircraft engine. In multi-engine passenger or cargo aircraft even multiple fuel tanks might be present. Each tank potentially equipped with fuel pumps internally. It further is equipped with associated valves and plumbing to fuel and refuel the engines.
Innovations Drive Market Growth
Being an essential part of aircraft, its demand reciprocates with the growth of the aircraft industry. The growing passenger traffic is providing impetus to the aviation industry, where new aircraft are continuously added to meet the growing demand for air transport. New routes and better connectivity are boosting the chances of additions of new aircraft, which in turn propels the growth of the aircraft fuel tank market. Manufacturers in the market are investing in research and development activities to introduce innovative materials in aircraft fuel tanks. These innovations are directed towards optimizing the strength of the aircraft fuel tank along with the efforts to reduce the overall weight of the aircraft. The ultimate aim is to enhance the overall efficiency.
The global aircraft fuel tank market can be broadly classified into the internal fuel tank and external fuel tank. Different types of aviation in the aircraft fuel tank market include commercial aviation, military aviation, and private jet. Aircraft fuel tanks are primarily made up of three different materials; Aluminum, High-density polyethylene (HDPE) and steel.
North America Along With Europe Gains Prominence in the Market
The geographical segmentation of aircraft fuel tanks gives eight major regions including the Middle East and Africa, Latin America, Eastern Europe, North America, Western Europe, and South Asia & Oceania. North America and Europe are projected to generate major revenue into the aircraft fuel tank market owing to the high demand from high OEMs located in these regions. The rapid surge in passenger traffic is pushing the Asia Pacific ahead in the aircraft fuel tank market. This development can also be attributed to the growing preference for air travel in the scaling economies such as China, Vietnam, and India.
Competition Intensifies With New Lightweight Materials
Established market players are collaborating and acquiring small-scale companies to strengthen their foothold in the market. They are employing enhanced and updated technologies to create innovative aircraft fuel tanks. The competition further intensifies with the quest to introduce lighter weight materials in the fuel tanks, to stay at the forefront of the competition. Major players in the global aircraft fuel tank market are Kautex Textron GmbH & Co. KG, Zodiac Aerospace, Aero Tec Laboratories, Inc., The Plastic Omnium Group, Magam Safety Ltd., Meggitt PLC, TI Automotive Inc., ContiTech AG, YAPP Automotive Parts Co. Ltd, and Musthane.
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