Aircraft Pumps Market projected to reach $4.5 billion by 2026

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The report on the aircraft pumps market provides
a detailed trend analysis from 2017 to 2026. It
discusses industry and technology trends
currently prevailing in the market, along
with drivers, restraints, challenges, and
opportunities that influence the growth of the
market. The global Aircraft Pumps Market size is
projected to grow from USD 3.3 billion in 2021
to USD 4.5 billion by 2026, at a CAGR of 6.3
from 2021 to 2026. The market is driven by
various factors, such as increase in aircraft
renewals and need for more flexible and light
aircraft with improved, lightweight systems and
compact pumping systems. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id84962943 Based on type, the fuel pump
segment is expected to be the largest market by
value. The growth of the fuel pump segment of
the aircraft pumps market can be attributed to
the increase in aircraft renewals as a short-term
goal for the commercial aircraft industry In the
near term, the COVID-19 shock has shifted the
focus to replacement after a decade of growth
bias. The current downturn is expected to lead to
the replacement of many older airplanes. Based
on pressure, the above 3,000 psi segment is
projected to be the highest CAGR rate for the
aircraft pumps market during the forecast period.
The growth of the above 3,000 psi segment of the
aircraft pumps market can be attributed to the
low-weight, high-pressure hydraulic pumps
enabling weight reduction of the aircraft
especially for military applications. Based on
the technology, the electric motor driven segment
is projected to be the highest CAGR rate for the
aircraft pumps market during the forecast period.
This growth can be attributed to various
applications of electric motor driven pumps.
Auxiliary boost fuel pumps, hydraulic systems in
different aircraft types, water and wastewater
systems, and air conditioning and cooling systems
can all be driven with an electric motor. Based
on the aircraft type, the unmanned aerial
vehicles segment is projected to grow at the
highest CAGR rate for the aircraft pumps market
during the forecast period. UAVs are commonly
termed drones and are mostly known for their
wide usage in various military missions such as
border surveillance. They are also used for
mapping, surveying, and determining weather
conditions of a specific area. Certain remotely
piloted UAVs are designed to operate as loitering
munition for defense forces.
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Based on the end use, the OEM segment is
projected to grow at the highest CAGR rate for
the aircraft pumps market during the forecast
period. OEMs are responsible for the
installation of pumps in an aircraft during the
assembly stage and are then made available for
delivery to aircraft manufacturers. Over the
years, there has been a significant rise in the
demand for different aircraft types across
regions. According to Airbus, it delivered 863
commercial aircraft to 99 customers in
2019. Based on the region, North America is
projected to be the largest regional share for
the aircraft pumps market during the forecast
period. The key factor responsible for North
America, leading the aircraft pumps market owing
to the rapid growth of the technologically
advanced pumps in the region. In North America,
the rise in aircraft orders and supplies is
encouraging manufacturers of aircraft pumps to
increase their sales year on year. The
increasing demand for commercial aircraft and the
presence of some of the leading players
operating in the market, such as Parker-Hannifin
Corporation (US), Woodward, Inc. (US), and Crane
Co. (US), and Collins Aerospace (US), are
expected to drive the aircraft pumps market in
North America. These players are focusing on RD
to increase their product lines and using
technologically advanced systems, subsystems,
and other components for manufacturing aircraft
pumps. Ask for Sample Report _at_ https//www.markets
andmarkets.com/requestsampleNew.asp?id84962943
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