Global Aircraft Fuel Tanks Market Research Report—Forecast till 2026

Global Aircraft Fuel Tanks Market Research Report—Forecast till 2026

Market Overview

Global Aircraft Fuel Tanks Market is accounted for to reach USD 992.52 Million during the forecast period and is ready to witness a significant market growth at a CAGR of 1.8% by 2026. An aircraft fuel tank is a major component of aircraft fuel structure and it facilitates fuel to be loaded, arranged, managed and deposited to the engine of an aircraft. However, these tanks vary according to the size, complexity, and functioning of the aircraft on which they are installed. In the case of multi-engine aircraft, the fuel system comprises of several fuel tanks that can be located in wings, the fuselage, and in the empennage.
The growing defense expenditures and rising passenger volume and a significant rise in demand for new aircraft are driving the growth of the global aircraft fuel tanks market. The significant growth in military expenditure is likely to boost the global market. However, the growing use of UAVs for defense and commercial applications is also propelling market growth.

Market Segmentation
The global aircraft fuel tanks market has been segregated based on type, platform, and region. Based on the type segment the market has been further classified into External and internal types; the internal type segment leading the market as compared to the external type.
By Platform segment, the global aircraft fuel tanks market has been bifurcated into civil aviation, Military Aviation, and UAV. The civil segment was estimated for the largest market contribution in 2019 and is estimated to command the market during the forecast period. The military aviation is estimated to expand with a considerable CAGR owing to the rising military expenditure and modernization of existing military aircraft with advanced systems and technology innovations. The rising demand for fighting jets due to rising defense investments is likely to boost the global market. The UAV segment is anticipated to record the substantial growth owing to rising adoption of UAVs for surveillance, border patrol, intelligence, reconnaissance, missile detection, and satellite communications by the defense agencies and commercial applications.

Region Analysis
Geographically, global aircraft fuel tanks market spans across North America, Europe, Asia-Pacific, and Middle East & Africa.
North America contributes the largest market of the global aircraft fuel tanks market followed by Europe. Europe is evaluated to hold the second large market due to the rising use of fighter jets and UAVs by the military forces for tactical missions during the forecast period. The Asia-Pacific market is evaluated to grow at a high CAGR during the forecast period. The regional growth is attributed to the growing demand for new aircraft and rising defense investment in emerging economies such as India and China are driving regional growth. The global aircraft fuel tanks market in Middle East & Africa is likely to grow owing to the existence of major airlines such as Etihad Airways and Saudi Arabian.

Major Players
The major players of global aircraft fuel tanks market are Aero Tec Laboratories Inc. (US), Cobham 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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