Report : South America Aircraft Turbine Fuel System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Hydromechanical, Full Authority Digital Engine Control (FADEC), and Hydromechanical/Electronics] and Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation Aircraft)
Commercial Aircraft Segment to Dominate SAM Aircraft Turbine Fuel System Market during 2020–2028
According to a new market research study on “SAM Aircraft Turbine Fuel System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Aircraft Type” is expected to reach US$ 300.73 million by 2028 from US$ 223.17 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the SAM aircraft turbine fuel system market along with the drivers and restraints pertaining to the market growth. Aircraft manufacturing picking pace is the major factor driving the growth of the SAM aircraft turbine fuel system market. However, setback of A380 program and fall of B737 Max hinders the growth of SAM aircraft turbine fuel system market.
The SAM 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 SAM 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.
Brazil has reported the highest number of COVID-19 cases in SAM, followed by Peru, Chile, Colombia, and Ecuador, among others. Governments of countries in the region have taken actions to protect their citizens and contain COVID-19 spread. In SAM, Brazil is the largest spender in the aerospace industry; moreover, it is the only modern aircraft manufacturing country in the region. Thus, the country generates high demand for aircraft-related components, and systems and technologies. In addition, most of the components are imported from the US, China, and European countries. The slowdown in commercial and military aircraft production in the country has impaired the supply chain in Brazil. This has weakened the demand for components such as turbine fuel systems. Thus, the COVID-19 outbreak has been limiting the SAM aircraft turbine fuel system market, especially in Brazil.
Collins Aerospace; Eaton Corporation plc; Honeywell International Inc.; Parker-Hannifin Corporation; Safran; and Woodward, Inc. are among the leading companies in the SAM aircraft turbine fuel system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021. Honeywell International Inc. announced the development of a turbogenerator for hybrid-electric aircraft. The new turbogenerator will run on jet fuel, diesel, and sustainable fuel alternatives.
The report segments the SAM Aircraft Turbine Fuel System Market follows:
SAM Aircraft Turbine Fuel System Market – By Type
- Hydromechanical
- Full Authority Digital Engine Control (FADEC)
- Hydromechanical/Electronics
SAM Aircraft Turbine Fuel System Market – By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
SAM Aircraft Turbine Fuel System Market – By Country
- Brazil
- Rest of SAM
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