Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Aerospace Fuel Tank Inerting System Market is expected to reach an estimated value of US$ 493.6 million by the forecast period (2019–2024).
As per the report, the market is segmented by:
• By Platform Type (Commercial Aircraft and Military Aircraft),
• By Stage Type (Aircraft-based System and Ground-based System),
• By Method Type (Inert Gas Supply, Ullage Washing, and Fuel Scrubbing),
• By Technology Type (ASM-based System, Pressure Swing Adsorption, and Others),
• By End-User Type (OE and Aftermarket),
• and By Region (North America, Europe, Asia-Pacific, and Rest of The World)
Highlights of the Report:
In commercial aircraft, the usage of the fuel tank inerting system was examined and studied after the fatal accident of TWA800 in 1996. In the industry, the current focus is on the development and commercialization of catalytic inerting technology. Parker Aerospace and Phyre Technologies have signed an exclusive license agreement on the product development of Phyre’s patented catalytic inerting technology.
Based on the platform type, the aerospace fuel tank inerting system market is segmented into commercial aircraft and military aircraft. Commercial aircraft are expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft owing to rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment’s market. Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
Based on the method type, the aerospace fuel tank inerting system market is segmented into inert gas supply, ullage washing, and fuel scrubbing. Inert gas supply is expected to remain the most preferred choice in the market during the forecast period, driven by its higher penetration in the commercial and regional aircraft. Since the development of hollow-fiber membrane air separation technology, on-board inert gas generating system (OBIGGS) is widely used in the aerospace industry as it eliminates the usage of an inert gas storage systems in the aircraft.
In terms of regions, North America is projected to remain the largest market for aerospace fuel tank inerting systems during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. The presence of all major aircraft OEMs, tier players, fuel tank inerting system suppliers, and raw material suppliers are primarily driving the aerospace fuel tank inerting system market in the country.
Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ).
Key Players of the Market
The key players in the aerospace fuel tank inerting system market are Parker-Hannifin Corporation, Air Liquide S.A., Cobham plc, Collins Aerospace (UTC), Eaton Corporation Inc., ESCO Technologies Inc., Honeywell International Inc., Porvair plc, Valcor Engineering Corporation, and Zodiac Aerospace (Safran S.A.).
Features of the Report
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth
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