According to this resourceful FactMR study, the aviation industry is at the threshold of experiencing a major shift in momentum as leading players are turning their focus towards electric propulsion technology. It has been noticed that electric aircrafts are receiving high-end interest of stakeholders due to significant benefits such as high-efficiency and reduced maintenance cost. With all such factors taken into consideration, the global aircraft pumps market is expected to receive burgeoning sales in the coming years. The report titled "Aircraft Pumps Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027", provides a concise insight related to the aircraft pumps market together with latest trends and opportunities.
Based on this detailed FactMR research, the global aircraft pump sales are likely to surpass 1.2 million units in 2019. It is observed that gains are projected to be driven by wider trends impacting the aviation industry, particularly rising demand for new aircrafts in order to accommodate the surging air traffic. The study further encloses that, the aircraft pumps market is anticipated to register 7.2% CAGR in terms of volume during the period between 2019 and 2027.
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Demand for Narrow Body Aircrafts to Climb Higher in Coming Years
The sales of narrow body aircraft are likely to rise in the coming years; the study predicts sales to exceed 700 thousand units in the year 2019. Analyzing the factors responsible for this growth, the report highlights the surge in commercial air transportation which has piloted the development of narrow body aircrafts concerned with long-haul flights. In addition, long range narrow body aircrafts are substituting wide body aircrafts due to their upper hand flying experience on niche routes and hovering in off-peak hours.
As a result of this rise in demand from low-cost carriers functioning on short routes, several manufacturers are concentrating on deploying competent engines, motors and pumps, in consort with superior aerodynamic qualities offering higher efficiency as well as performance related to narrow body aircrafts.
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APEJ to Solidify Its Leading Status in Aircraft Pumps Market
Evaluating air traffic scenario, it has been spotted that Asia Pacific including China, India, and Australia are expected to offer prominent development as a result of new airports and new routes. With the investment included to purchase fresh aircrafts, it is projected to provide a major push to the aircraft pumps market. As mentioned in this researched study, aircraft pump sales across APEJ are expected to exceed 400 thousand units in 2019. On the other hand, sales of aircraft pumps in Europe are likely to increase due to high rate of tourism along with companies capitalizing huge amounts in aircraft manufacturing.
Aircraft Pumps Driven by Electric Motor Acquire Strong Traction
The popularity of More Electric Aircrafts (MEA) to become future of aerospace industry is being highly recognized. In order to fulfill increasing power demand, better fuel economy, and reducing emission, electric motor driven aircraft pumps are acquiring higher demand. Furthermore, the efforts by aircraft manufacturers to convert hydraulic and pneumatic components into electric are gaining traction. Hence, all such aspects are leading to robust adoption of electric motor-driven aircraft pumps, due to their easy alteration of input shaft power, along with reduced power loss from source.
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The final section of the report works to examine the major players operating in the global aircraft pumps market. Some of these manufacturers mentioned in the report include names like Eaton Corporation plc, Crane Aerospace & Electronics, Honeywell International Inc., Cascon Inc., Triumph Group, Inc., Parker Hannifin Corporation, Zodiac Aerospace, Weldon Pump LLC, Crissair, Inc., and Woodward, Inc.
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