Asia Pacific 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)
Market Introduction
The APAC is market consists of Australia, China, India, Japan, South Korea, and rest of APAC. The Asia Pacific is characterized by the presence of an emerging nations with significant military expenditure and defense R&D investments, and favorable government initiatives, which boost the growth of the respective defense sector. According to Boeing, the region is expected to receive ~17,390 deliveries between 2019 and 2038. The total fleet is expected to increase to ~19,420 aircraft by 2038. In 2020, China, India, Japan, South Korea, and Australia were among the countries with the largest military spending in APAC, with the military expenditure of US$ 252 billion, US$ 65.86 billion, US$ 55 billion, US$ 44 billion, and US$ 27 billion, respectively. The increasing spending on military aircraft in China, Japan, and India through significant contracts to leading military aircraft manufacturers is expected to propel the adoption of aircraft turbine fuel system in the coming years. Further, the growing demand for aircrafts, particularly in developing countries such as China and India, drives the growth of the aircraft turbine fuel system market. The growth of the commercial aviation in APAC is attributed to rising middle class income, robust economic growth, and favorable government policies. For instance, government of India in March 2020, reduced GST (Goods and Service Tax) from 18% to 5% for MRO services in India. Further, the opening of Boeing and Airbus manufacturing/assembly plants, and upcoming indigenous commercial and regional aircraft such as COMAC C919 and Mitsubishi MRJ will boost the Asia Pacific aircraft turbine fuel system market in the coming years.
The COVID-19 outbreak has resulted in a massive financial loss to APAC countries. The governments of these countries have been continuously taking possible steps to reduce the intensity of the pandemic by announcing lockdown and rolling out physical distancing measures (post lockdown). China is one of the leading aerospace manufacturing countries in the region and has been one of worst-affected countries in the Q1 and Q2 of 2020. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in substantially low demand for various components and systems, including turbine fuel systems. Similarly, COMAC, China’s indigenous aircraft manufacturer, halted its production of C919 during Q1. India, Japan, and South Korea are still combating the virus. However, the countries have eased the lockdown measures, which is reflecting the resumption of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs regionally and internationally. This has been negatively affecting the aircraft turbine fuel system market in APAC.
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Market Overview and Dynamics
The aircraft turbine fuel system market in APAC is expected to grow from US$ 395.74 million in 2021 to US$ 575.84 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028. Local manufacturers such as Hindustan Aeronautics Limited, Aviation Corporation of China, and Kawasaki Heavy Industries are also investing significantly to strengthen their position in the aviation industry. Thus, the growth of the aircraft turbine fuel system market in APAC is majorly attributed to the increasing aircraft fleet owing to the rising passenger traffic, mounting procurement of military aircraft with rising defense budget, and the ongoing projects of development of indigenous commercial and regional aircraft.
Key Market Segments
The APAC 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 APAC aircraft turbine fuel system market is segmented as commercial aircraft, military aircraft, and general aviation aircraft. The military aircraft segment held the largest share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the aircraft turbine fuel system market in APAC 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.; Parker-Hannifin Corporation; Safran; Triumph Group, Inc.; and Woodward, Inc.
Reasons to buy report
- To understand the APAC aircraft turbine fuel system market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC aircraft turbine fuel system market.
- Efficiently plan M&A and partnership deals in APAC aircraft turbine fuel system market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC aircraft turbine fuel system market.
- Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.
APAC Aircraft Turbine Fuel System Market Segmentation
APAC Aircraft Turbine Fuel System Market - By Type
- Hydromechanical
- Full Authority Digital Engine Control (FADEC)
- Hydromechanical/Electronics
APAC Aircraft Turbine Fuel System Market - By Aircraft Type
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
APAC Aircraft Turbine Fuel System Market - By Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Aircraft Turbine Fuel System Market - Company Profiles
- Collins Aerospace
- Eaton Corporation plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Safran
- Triumph Group, Inc.
- Woodward, Inc.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Aircraft Turbine Fuel System Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.3 Ecosystem Analysis
5. APAC Aircraft Turbine Fuel System – Market Dynamics
5.1 Market Drivers
5.1.1 Significantly Growing Aircraft Manufacturing
5.1.2 Aircraft MRO Operation Witnessing Surge
5.2 Market Restraints
5.2.1 Discontinuation of A380 Program and Fall of B737 Max
5.3 Market Opportunities
5.3.1 Exponential Growth of Aviation Industry in China
5.4 Future Trends
5.4.1 More Attention on Use of Lightweight Materials
5.5 Impact Analysis of Drivers and Restraints
6. Aircraft Turbine Fuel System Market – APAC Market Analysis
6.1 APAC Aircraft Turbine Fuel System Market Overview
6.2 APAC Aircraft Turbine Fuel System Market Revenue Forecast and Analysis
7. APAC Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 – Type
7.1 Overview
7.2 APAC Aircraft Turbine Fuel System Market, By Type (2020 & 2028)
7.3 Hydromechanical
7.3.1 Overview
7.3.2 Hydromechanical: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
7.4 Full Authority Digital Engine Control (FADEC)
7.4.1 Overview
7.4.2 Full Authority Digital Engine Control (FADEC): Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
7.5 Hydromechanical/Electronics
7.5.1 Overview
7.5.2 Hydromechanical/Electronics: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Aircraft Turbine Fuel System Market Analysis and Forecast to 2028 – Aircraft Type
8.1 Overview
8.2 APAC Aircraft Turbine Fuel System Market, By Aircraft Type (2020 & 2028)
8.3 Commercial Aircraft
8.3.1 Overview
8.3.2 Commercial Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8.4 Military Aircraft
8.4.1 Overview
8.4.2 Military Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
8.5 General Aviation Aircraft
8.5.1 Overview
8.5.2 General Aviation Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Aircraft Turbine Fuel System Market – Country Analysis
9.1 Overview
9.1.1 APAC: Aircraft Turbine Fuel System Market, by Key Country
9.1.2 Australia: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.2.1 Australia: Aircraft Turbine Fuel System Market, by Type
9.1.2.2 Australia: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.3 China: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.3.1 China: Aircraft Turbine Fuel System Market, by Type
9.1.3.2 China: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.4 India: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.4.1 India: Aircraft Turbine Fuel System Market, by Type
9.1.4.2 India: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.5 Japan: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.5.1 Japan: Aircraft Turbine Fuel System Market, by Type
9.1.5.2 Japan: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.6 South Korea: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.6.1 South Korea: Aircraft Turbine Fuel System Market, by Type
9.1.6.2 South Korea: Aircraft Turbine Fuel System Market, by Aircraft Type
9.1.7 Rest of APAC: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
9.1.7.1 Rest of APAC: Aircraft Turbine Fuel System Market, by Type
9.1.7.2 Rest of APAC: Aircraft Turbine Fuel System Market, by Aircraft Type
10. APAC Aircraft Turbine Fuel System Market - COVID-19 Impact Analysis
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Collins Aerospace
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Eaton Corporation plc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Honeywell International Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Parker-Hannifin Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Safran
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Triumph Group, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Woodward, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Aircraft Turbine Fuel System Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Japan: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Japan: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Aircraft Turbine Fuel System Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of APAC: Aircraft Turbine Fuel System Market, by Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Aircraft Turbine Fuel System Market Segmentation
Figure 2. APAC Aircraft Turbine Fuel System Market Segmentation – By Country
Figure 3. APAC Aircraft Turbine Fuel System Market Overview
Figure 4. APAC Aircraft Turbine Fuel System Market, by Type
Figure 5. APAC Aircraft Turbine Fuel System Market, by Aircraft Type
Figure 6. APAC Aircraft Turbine Fuel System Market, By Country
Figure 7. APAC Aircraft Turbine Fuel System Market - Porter’s Five Forces Analysis
Figure 8. APAC Aircraft Turbine Fuel System Market: Ecosystem Analysis
Figure 9. APAC Aircraft Turbine Fuel System Market Impact Analysis of Drivers and Restraints
Figure 10. APAC Aircraft Turbine Fuel System Market Revenue Forecast and Analysis (US$ Million)
Figure 11. APAC Aircraft Turbine Fuel System Market, by Type (2020 & 2028)
Figure 12. APAC Hydromechanical: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Full Authority Digital Engine Control (FADEC): Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Hydromechanical/Electronics: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Aircraft Turbine Fuel System Market, By Aircraft Type (2020 & 2028)
Figure 16. APAC Commercial Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Military Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC General Aviation Aircraft: Aircraft Turbine Fuel System Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC: Aircraft Turbine Fuel System Market, by Key Country – Revenue 2020 (US$ Million)
Figure 20. APAC: Aircraft Turbine Fuel System Market Revenue Share, by Key Country (2020 & 2028)
Figure 21. Australia: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of APAC: Aircraft Turbine Fuel System Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in APAC Country Markets
- Collins Aerospace
- Eaton Corporation plc
- Honeywell International Inc.
- Parker-Hannifin Corporation
- Safran
- Triumph Group, Inc.
- Woodward, Inc.