Global Aircraft Pumps Market is Estimated to Reach $5.6 billion by 2025, Says Accurize Market Research
Global Aircraft Pumps Market report published by Accurize Market Research forecast that the global market is expected to reach $5.6 billion by 2025; growing at a CAGR of 7.3% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Increasing air passenger traffic globally to drive the global aircraft pumps market
The growing air passenger traffic across the globe is one major factor which drives the growth of the global aircraft pumps market over the forecasted period. Better and light weight pumps are used in aircrafts which reduce aircraft weight & enhance fuel efficiency. The pumps benefit in pressurizing various fluids, like fuels, hydraulic oils, lubricating oils & water and transferring these fluids to many aircraft components that help for the better performance of aircraft.On the flip side, increasing inclination towards electrification in all non-propulsive systems may hamper the growth of the aircraft pumps market. Moreover, growing acceptance of UAVS in military applications would create new opportunities for players in this market.
The aircraft pumps market is split into type, technology, pressure, application, end user, and geography. Type includes hydraulic pumps, fuel pumps, lubrication pumps, air-conditioning and cooling pumps, and water and waste system pumps. By technology, market is categorized into electric motor driven, engine driven, air driven, and ram air turbine driven. Pressure includes 10 Psi to 500 Psi, 500 Psi to 3000 Psi, 3000 Psi to 5000 Psi, and 5000 Psi to 6500 Psi. By application, the market is further divided into military aviation, commercial aviation, and business and general aviation. End user comprises OEM, and aftermarket.
North America, Europe, Asia-Pacific and rest of the world (RoW) are the geographical segments of the market. North America is further bifurcated into countries namely; U.S. and Canada. Europe covers countries like Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific countries include China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Africa and Middle East.
"3000 Psi accounted for the largest market share in the pressure segment", says Accurize
In the pressure segment, 3000 Psi accounted for the major share in 2017due to the expansion of commercial aircraft orders and rising maintenance, repairs, operations (MRO) services.In the technology segment, the engine driven segment is expected to lead the aircraft pumps market
"North America dominated the global market with the highest market share over the forecast period", says Accurize
North American region accounted for the largest share of the aircraft pumps market and is likely to have growing military and commercial aircraft deliveries. Asia Pacific region is the fastest growing market owing to the rise in the number of flight hours and air passenger traffic.
Top players in the market
Major companies operating in the market Woodward, Zodiac Aerospace, CLARCOR, Inc., Honeywell International Inc., Parker Hannifin Corporation, Pall Corporation, Donaldson, Inc., Freudenberg & Co. KG, Eaton, and AeroControlex, among others.
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