AIRCRAFT PUMP MARKET TO REACH USD 5.8 BILLION BY 2024 | CAGR 6.6% – FORENCIS RESEARCH

Global Aircraft Pump Market: Key Highlights

• According to the new market research report “Aircraft Pump Market by Type (Hydraulic Pump, Fuel Pump, Lube and Scavenge Pumps, Coolant Pumps, Vacuum Pumps and Water Booster Pump), By Technology (Electrical Driven Power Pumps, Engine Driven Power Pumps, Air Driven Power Pumps and Ram Air Turbine (RAT)), By Pressure Range (Below 1500psi, 1500psi to 2000psi, 2000psi to 5000psi and Above 5000psi), By Application (Commercial Aircraft, Business Aircraft and Military Aircraft), By End Use Industry (OEMs, Aftermarket), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024”, the global Aircraft Pump Market is estimated to reach USD 5.8 Billion by 2024 at a CAGR of around 6.6% during the review period.
• Rising demand for ejector pumps witness to increase market as it is highly reliable, low cost and it is also used for primary fuel feed pumps in the aircraft engine.
• However, high maintenance cost remain a major restraining factor for the growth of the Aircraft Pump Market

Global Aircraft Pump Market: Key Market Dynamics

• Rising demand for ejector pumps helps to boost the fuel functions for small aircraft transport application will help to surge the market growth.
• Rising adoption of Unmanned Aerial Vehicles (UAVs) in commercial and military can increase the usage of aircraft pump which lead to boost the market growth.
• The increasing use of unmanned aerial vehicles in commercial and military ... can be attributed to the advantages associated with fully autonomous UAVs.
• Growing demand for fluid power technology which lead to reduce risk of electric shocks and sparks may help to boost the aircraft pump demand in market.

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Global Aircraft Pump Market: Regional Overview

• North America

The aircraft pump market in the North America region is projected to witness high demand due to the high production of aircraft in the region.

In 2018, the aerospace and defense exports of the country were USD 151 billion,  was increase by  5.81% as compared to 2017. Also, the US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018. Moreover, extensive R&D spending in the aerospace & defense industry is likely to propel the demand for aerospace valves in the coming years.

• Europe

With the increase growth of the aerospace & defense industry in Europe, the demand for aerospace valves is expected to boost. The region has also invested USD 21.76 billion in aerospace & defense R&D. According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D.

Global Aircraft Pump Market: Key Players Overview

• Honeywell International Inc.:

Honeywell International Inc. is a multinational company which mainly operate in building technologies, aerospace, performance material and productivity solution. The Honeywell process solution is function as pioneer in automation control and serving industrial manufactures process globally. In January 2018, the company entered into agreement with a metal additive manufacturing company, Sintavia, to manufacture aerospace components. These components include gas turbine auxiliary power units (APUs), turboshaft engines, turbofan engines, and engine control valves, among others.

• PARKER HANNIFIN CORP:

PARKER HANNIFIN CORP is an American corporation specializing in control technologies and motion. The company experience and innovation for commercial and military aircraft and support the world aircraft and aero aircraft manufacturers. The company designed and manufacture the engine driven pump product line. In 2017, the Parker aerospace which is business segment of Parker Hannifin Corporation announced to supply the fly-by-wire flight control actuation system for its MA700 turboprop regional aircraft.

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