Aircraft Pump Market by Type (Fuel Pump, Hydraulic Pump, Lubrication Pumps, Air-conditioning & Cooling Pumps, and Others), Aircraft Type (Commercial Aircraft, Military Aircraft, and General Aviation), Fit Type (Line Fit and Retrofit): Global Market Size Estimates and Forecast (2019-2030)
The market is expected to cross US$ 3.82 billion in 2022 and is projected to hit US$ 6.73 billion by 2030, recording a CAGR of 7.3% during the forecast period.
Retrofit to Drive the Market Growth
The growing demand for retrofitting of aircraft components is driving the market growth for aircraft pumps globally. The presence of large aircraft fleet including commercial, military, and general aviation aircraft models is generating new market opportunities for market vendors for aftermarket segment. Moreover, the rising concerns over pump failures or technical issues is another major factor pushing the demand for regular overhauls and replacement of aircraft pump. For instance, in April 2021, the European Union Aviation Safety Agency (EASA) issued an Airworthiness Directive (AD) concerning the fuel pumps of a wide range of A320 family aircraft. Such instances are driving the aircraft pump market.
Commercial segment is likely to dominate the aircraft pump market in 2022. This is owing to the rising deliveries of commercial aircraft models across different regions which is propelled by increasing passenger traffic across different regions. Further, the expected deliveries of commercial aircraft acting as another major factor, likely to generate new market opportunities for market vendors during the forecast period.
Within the report, the aircraft pump market is segmented into type, aircraft type, fit type, and geography. By type, the aircraft pump market is segmented into fuel pump, hydraulic pump, lubrication pump, air-conditioning & cooling pump, and others. Based on aircraft type, the aircraft pump market is segmented into commercial aircraft, military aircraft, and general aviation. Based on fit type, the aircraft pump market is segmented into line fit and retrofit. Geographically, the aircraft pump market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Aircraft Production is Likely to Provide Future Opportunities for Market Vendors During the Forecast Period.
The increasing aircraft production is one of the major factors likely to generate new market opportunities for market vendors during the forecast period. For instance, according to Boeing and Airbus forecasts around 40,000 aircraft are expected to be delivered worldwide by the end of 2041 which is further expected to boost the deployment of aircraft fuel pumps and likely to drive the market growth during the forecast period.
Moreover, the rising general aviation deliveries is another major factor pushing the market growth globally. The growing deliveries for piston engine aircraft models across different regions is likely to generate new market opportunities for market vendors during the forecast period.
Technical Issues in Pump is Likely to Hamper the Aircraft Pump Market Growth.
The rising incidents of technical issues in pumps in new aircraft models is one of the major factors hampering the growth of aircraft pumps market. For instance, in September 2022, a Boeing 777-200 of United Airlines experienced a hydraulic pump issue immediately after its take-off from Newark’s Liberty International airport and ultimately led the aircraft to return and land. Similarly, in September 2022, Alaska Air grounded its B737 Max aircraft after leakage in its engine fuel pump. Such instances are hampering the aircraft fuel pump market growth.
Recent Strategic Developments in Aircraft Pump Market
The aircraft pump market has undergone several significant developments, and a few of these have been mentioned below:
- In July 2021, Honeywell International Inc and TAT Piedmont signed a strategic MRO & lease agreement for 10 years for maintenance repair and overhaul of Honeywell’s 131 Series of Auxiliary Power Units and its related systems that also includes APU pumps.
- In February 2018, Eaton Corporation signed an agreement with Doosan Corporation for three years to supply hydraulic pumps for Korea Aerospace Industries’ KF-X Fighter aircraft.
The aircraft pump market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships AMETEK Inc, Collins Aerospace, Donaldson Company Inc, Eaton, Honeywell International Inc, Mitsubishi Heavy Industries Ltd, Pall Corporation, Parker Hannifin Corp, Deihl Stfitung & Co KG, and Safran are among the prominent players operating in the aircraft pump market.
Target audience for the report:
- Aircraft fuel pump manufacturers
- Aircraft hydraulic pump manufacturers
- Aircraft cooling pump manufacturers
- Aircraft lubrication pump manufacturers
- Aircraft pump component manufacturers
- Aircraft pump MROs
- Commercial and military aircraft related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the aircraft pump market has been segmented on the basis of:
- Type:
- Fuel Pump
- Hydraulic Pump
- Lubrication Pumps
- Air-conditioning & Cooling Pumps
- Others
- Application:
- Commercial Aircraft
- Military Aircraft
- General Aviation
- Fit Type:
- Line Fit
- Retrofit
- Region
- North America
- US
- Canada
- Mexico
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
- South America
- North America
- Companies profiled
- AMETEK Inc.
- ITT, Inc.
- Donaldson Company, Inc.
- Eaton
- Honeywell International Inc.
Companies profiled
- AMETEK Inc.
- ITT, Inc.
- Donaldson Company, Inc.
- Eaton
- Honeywell International Inc.