Europe Aircraft Turbine Fuel System Market
European region consists of Germany, France, the UK, Italy, Russia, and the Rest of Europe; among which France and Russia have the biggest aircraft manufacturing hub. The aviation industry is among the largest sectors, which contribute massively to the GDP of the region. Owing to high GDP per capita, the air travel is considered the most preferred means of travel among European population. Further, the presence of robust technological infrastructure and favorable economic conditions have paved the way for the aerospace and aviation industry to flourish in this region, thereby propelling the growth of aircraft turbine fuel system market in Europe. Europe houses manufacturing facilities of some of the major aircraft manufacturers such as Airbus, Dassault Aviation, Leonardo, and Thales Group. The presence of such leading players has paved the growth path for military and civil aircraft and helicopters. The existence of various aircraft and helicopter manufacturers in the region is one of key driving factors for the growth of the aircraft turbine fuel system market.
European countries have been experiencing a continuous surge in the COVID-19 cases. The European aviation industry is composed of aircraft OEMs, component suppliers, airlines, and MRO service providers. The outbreak has affected each aviation business stakeholders' business in the region. Several airlines in the region have postponed the pending aircraft fleet's procurement dates to manage their current operational costs. The aircraft OEMs and component suppliers are suffering economic losses due to this move of the airlines. Airbus, a forerunner in terms of aircraft production volume, delivered 566 aircraft in 2020, compared to 863 aircraft in 2019. Apart from Airbus, other aircraft OEMs such as Dassault Aviation, Leonardo, Sukhoi, Tupolev, and Ilyushin, among others, also faced severe challenge in delivering substantial number of aircraft models to respective customers. This has lowered the demand for aircraft turbine fuel systems in Europe. France, Italy, the UK, and Russia are among the European countries that have a greater number of aircraft manufacturers; they are also among the severely hit countries by the pandemic.
Strategic insights for the Europe Aircraft Turbine Fuel System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 645.60 Million |
| Market Size by 2028 | US$ 1,115.04 Million |
| Global CAGR (2021 - 2028) | 8.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Aircraft Turbine Fuel System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The aircraft turbine fuel system market in Europe is expected to grow from US$ 645.60 million in 2021 to US$ 1,115.04 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2021 to 2028. Moreover, growing air travel and increasing government budgets for military aircraft and helicopters have stimulated the MRO services, which has significantly boosted the revenue stream of aircraft turbine fuel system market players operating in Europe. With more than 20,000 flights a day and ~500 million passengers flying every year, Europe accredits to be the world’s busiest airspace. The airlines in the European countries, irrespective of full service or low-cost airlines, are facing extreme pressure for air travel. This is influencing the companies to procure a high number of aircraft.
The Europe aircraft turbine fuel system market is segmented into type and aircraft type. Based on type, the aircraft turbine fuel system market is segmented into hydromechanical, full authority digital engine control (FADEC), and hydromechanical/electronics. The full authority digital engine control (FADEC) segment held the largest share in 2020 based on type. Based on aircraft type, the Europe aircraft turbine fuel system market is segmented as commercial aircraft, military aircraft, and general aviation aircraft. The commercial aircraft segment held the largest share in 2020.
A few major primary and secondary sources referred to for preparing this report on the aircraft turbine fuel system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Collins Aerospace; Eaton Corporation plc; Honeywell International Inc.; Jihostroj a.s.; Mascott Equipment Co.; Parker-Hannifin Corporation; Safran; Silver Atena GmbH; and Triumph Group, Inc.
The Europe Aircraft Turbine Fuel System Market is valued at US$ 645.60 Million in 2021, it is projected to reach US$ 1,115.04 Million by 2028.
As per our report Europe Aircraft Turbine Fuel System Market, the market size is valued at US$ 645.60 Million in 2021, projecting it to reach US$ 1,115.04 Million by 2028. This translates to a CAGR of approximately 8.1% during the forecast period.
The Europe Aircraft Turbine Fuel System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Aircraft Turbine Fuel System Market report:
The Europe Aircraft Turbine Fuel System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Aircraft Turbine Fuel System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Aircraft Turbine Fuel System Market value chain can benefit from the information contained in a comprehensive market report.
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