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Aircraft Fuel Tank Market Size, Share Global Analysis Report, 2022 – 2028
Aircraft Fuel Tank Market By Type (External, Internal), By End-Use (Aftermarket, OEM), By Platform (Commercial Aviation, Military Aviation), By Material (Carbon-based Composites, Metallic Alloys, Hybrid, Polymers), and By Region - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast 2022 – 2028
Industry Insights
[201+ Pages Report] According to Facts and Factors, the global aircraft fuel tank market was valued at USD 928.60 million in 2021 and is predicted to increase at a CAGR of 1.30% to USD 1001.57 million by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
Market Overview
The word "aircraft fuel tank" refers to a component of an aircraft engine system that stores and propels or releases gasoline into the engine. A significant factor driving the growth of the aircraft fuel tanks market is the increased demand for aircraft across various aviation platforms. New military and corporate aircraft programmers are also contributing to the market's growth during the forecast period. Due to increased spending by numerous countries on military aircraft, demand for self-sealing fuel tanks is likely to rise.
Also, the rising emphasis of aircraft manufacturers on aircraft weight reduction without cooperating with its strength and quality of labor is expected to expand the demand for the high strength lighter weight materials in the aircraft fuel tanks. Furthermore, increased worldwide passenger traffic will contribute to the expansion of the airline and aviation industries, resulting in increased aircraft production and, as a result, increased need for aircraft fuel tanks during the forecast period. The development is popular for the aircraft fuel tanks market primarily because of the rising formation of airplanes across the globe. The rising interest in an airplane is attributable to the step-by-step expansion in traveler traffic over the upcoming years. However, Market expansion is hampered by regulatory agencies' strict requirements and norms, as well as expensive manufacturing costs during the projection period.
Impact of COVID - 19
The market for aircraft fuel tanks has suffered because of the COVID-19 pandemic. The early invasion of the pandemic distressed the market in the most extraordinarily dreadful hit nations like India, Brazil, and Italy. China has generally been one of the significant providers of key unrefined components and elements for assembling different hair embellishments, and numerous worldwide producers have depended on China for the equivalent. Because flights have been halted all over the world to prevent the spread of COVID-19, global fuel usage has been adversely impacted.
The halt in production of new aircraft as well as up-gradation of existing aircraft due to supply chain & operational constraints imposed by governments due to the COVID-19 pandemic has created a lack of demand for the aircraft fuel tanks. The COVID-19 scenario impeded the future development of aviation fuel tank systems by restricting site access to R&D facilities. Commercial airline businesses, governments, and military groups will be unable to postpone existing aircraft fuel tank upgrades because of this delay.
COVID-19 outbreak has led to travel bans and economic closure on the aircraft industry, exhausting the financial resources that could help the aircraft fuel tank market grow.
Segmentation Analysis
The global aircraft fuel tank market is segregated based on materials, end-user, applications, platforms, and region.
In terms of applications, the commercial aircraft segment is expected to witness the fastest growing CAGR during the advent of the forecast owing to the rising demand for commercial aircraft coupled with the fuel tanks being the primary source of maintenance costs which further fuel the growth of the latter segment. Internal tanks in commercial aircraft are an important part of the aerostructure that must be checked and repaired on a regular basis. The demand for aircraft fuel tank market presence is fueled by these maintenance requirements.
In terms of end-users, the OEM segment is expected to register the highest growth in the market over the projection period. The OEM segment accounted for the largest market share and is expected to grow at the highest CAGR during the review period. Also, the growth of this market is projected to be fueled by the increased development of innovative gasoline tanks that require less maintenance and allow for easier examination.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 928.60 Million |
Projected Market Size in 2028 |
USD 1001.57 Million |
CAGR Growth Rate |
1.30% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
Air Tec Laboratories Inc. (US), Chobham plc (UK), Elbit Systems Ltd. (Israel), General Dynamics Corporation (US), GKN Aerospace (UK), Marshall Aerospace and Defense Group (UK), Meggitt PLC (UK), NorthStar (US), Robertson Fuel Systems LLC (US), Safran SA (France), and Others |
Key Segment |
By Type, End-Use, Platform, Material, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Regional Landscape
The Asia-Pacific region is estimated to witness substantial growth in the aircraft fuel tank market including China, India, Indonesia, and Australia. This is owing to the high demand from established OEM aircraft manufacturers in this region. Also, Local development is being fueled by rising interest in new airplanes and increased usage of security measures in countries such as India and China.
Due to an increase in the use of unmanned aerial vehicles (UAVs) for intelligence gathering on the drug trade and renegade gatherings, deforestation monitoring, and unlawful relocation control is likely to propel the market growth.
List of Key Players in the Global Aircraft Fuel Tank Market:
- Air Tec Laboratories Inc. (US)
- Chobham plc (UK)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (US)
- GKN Aerospace (UK)
- Marshall Aerospace and Defense Group (UK)
- Meggitt PLC (UK)
- NorthStar (US)
- Robertson Fuel Systems LLC (US)
- Safran SA (France)
The global aircraft fuel tank market is segmented as follows;
Based on Type:
- External
- Internal
Based on End-Use:
- Aftermarket
- OEM
Based on Platform:
- Commercial Aviation
- Military Aviation
Based on Material:
- Carbon-based Composites
- Metallic Alloys
- Hybrid
- Polymers
Based on Region:
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Air Tec Laboratories Inc. (US)
- Chobham plc (UK)
- Elbit Systems Ltd. (Israel)
- General Dynamics Corporation (US)
- GKN Aerospace (UK)
- Marshall Aerospace and Defense Group (UK)
- Meggitt PLC (UK)
- NorthStar (US)
- Robertson Fuel Systems LLC (US)
- Safran SA (France)
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