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Triumph Group Inc. has recently sold its APU Repair Product Line (RPL) of Triumph Aviation Services Asia, Ltd. to TurbineAero, Inc. With this business transaction, Triumph aims at divesting its non-core business to compensate with its debts, and invest in latent opportunities.
The Civil Aviation Administration of China (CAAC) estimates consumption of jet fuels in the country to reach 40 million tons by 2020-end. In response to environmental concerns related to jet fuel consumption, the CAAC plans on using nearly 12 million tons of biofuels in aircrafts, thereby creating opportunities for relevant component manufacturers.
Significant growth in passenger and freight air transport is driving the demand for new aircrafts, consequently increasing competition between manufacturers in terms of performance optimization and reduction in maintenance and operational cost. The International Air Transport Association (IATA) estimates the number of air travelers to close in on approximately 7.2 billion by 2035, with most of the traffic coming from Asia Pacific. IATA further projects China to overtake the US as the largest aviation market by 2024.
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Air travel is expected to soar exponentially in Asia, with significant increase in aircrafts imports in China. In addition, China’s state-owned Commercial Aircraft Corp. of China is planning to introduce its narrow-body jet C919, which would come into effect in 2020.
As conventional aircrafts are fast being replaced with new fuel-efficient variants, aircraft pump manufacturers are increasingly focusing on developments in terms of high-pressure lightweight attributes. Jet pumps continue to witness significant adoption in aircraft fuel systems, owing to their greater reliability, and absence of moving parts, which further deprives the probability of failure.
Growing customer base combined with low operating costs is likely to benefit aircraft components manufacturers and OEMs in future. Airlines are increasingly opting for lightweight pumps that can improve fuel-efficiency. Additionally, growth in air passenger traffic is leading to shorter replacement cycle, this is driving demand for aircraft pumps by Maintenance, Repair, and Overhaul (MRO) industry.
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