The global aircraft internal fuel tank market is experiencing a significant growth due to rise in production of aircraft across globe. Aircraft internal fuel tank is a safe container for storage of fuel or flammable fluids. The term aircraft fuel tank is typically applied to part of an aircraft engine system in which the fuel is stored and propelled or released into an engine. Internal aircraft fuel tanks range in size and complexity from the small plastic tank of a butane lighter to a multi-chambered internal tank. Aircraft fuel tanks are often integrated into the wings of the aircraft, this placement reduces the stress on the wings during takeoff and flight.
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COVID-19 scenario analysis:
- The measures to arrest the spread of COVID-19 has severely dented the consumption of fuel worldwide, since flights are grounded across the globe.
- The halt in production of new aircrafts as well as upgradation of existing aircrafts due to supply chain & operational constraints imposed by governments due to COVID-19 pandemic has created lack of demand for aircraft fuel tank.
- The restricted site access to R&D facilities due to COVID-19 scenario will hamper the future development of aircraft fuel tank systems. Such delay will prevent commercial airlines companies, governments, and military organizations to postpone existing aircraft fuel tank upgradation.
- COVID-19 has brought upon travel bans and economic shutdown on the aircraft industry, exhausting the financial resources which could help the aircraft fuel tank market grow.
- COVID 19 Scenario
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in aircraft production, increase in demand for fuel tank upgradation in older aircrafts, and rise in adoption of light internal tank materials for increased aircraft efficiency are the factors that drive the global aircraft internal fuel tank market. However, strict standards and guidelines from regulating authorities and high cost of manufacturing hinder the market growth hinder the market growth. On the contrary, growing military & commercial aircraft fleet size is anticipated to contribute to the growth of aircraft fuel tank market.
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The global aircraft internal fuel tank market trends are as follows:
Surge in aircraft production
Rise in demand for aircraft is attributed to the day-by-day increase in passenger traffic across the globe. In addition, according to the IATA (International Air Transport Association), approximately 700 routes are established for better connectivity across the globe. In addition, Boeing published a similar market forecast, in 2019, known as the Boeing Commercial Market Outlook. According to Boeing forecast, over the next 20 years delivery of 44,040 new aircrafts will be made out of which 19,000 will be replacing older aircrafts. Moreover, the Boeing stated that the annual aircraft fleet growth rate & annual air traffic growth rate will be 3.4 % & 4.6%, respectively. Moreover, growth in global passenger traffic will also contribute to the growth of the airlines and aircraft industry, which will lead to surge in aircraft production; thereby, driving the growth of the aircraft internal fuel tank market.
Key benefits of the report:
- This study presents the analytical depiction of the global aircraft internal fuel tank industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aircraft internal fuel tank market share.
- The current market is quantitatively analyzed to highlight the global aircraft internal fuel tank market growth scenario.
- Porterโs five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global aircraft internal fuel tank market analysis based on competitive intensity and how the competition will take shape in coming years.ย
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Questions answered in the aircraft internal fuel tank market research report:
- Which are the leading market players active in the aircraft internal fuel tank market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
โAircraft Internal Fuel Tank Market Report Highlights
| Aspects | Details |
|---|---|
| By Platform | Commercial AviationMilitary Aviation |
| By Material | Carbon-based CompositesMetallic AlloysHybridPolymers |
| By End Use | After MarketOEM |
| By Region | North America (U.S., Canada)Europe (Germany, UK, France, rest of Europe)Asia-Pacific (China, Japan, India, rest of Asia-Pacific)Latin America (Brazil, Mexico, rest of LATAM)The Middle East Africa |
| Key Market Players | Marshall Aerospace and Defence Group., Meggitt PLC, Elbit Systems โ Cyclone Ltd., Robertson Fuel Systems LLC, Safran S.A., Aero Tec Laboratories, Inc., General Dynamics Corporation, GKN Aerospace, Cobham plc |
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