What is the future of Aircraft Fuel Systems Market? Know Covid Impact on Size, Share & Forecasts

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Fuel Systems Market.

It was estimated prior to this unanticipated outbreak that the Aircraft Fuel Systems Market will reach US$ 7,059.1 million in 2024. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Aircraft Fuel Systems Market Segment Insights:

By Aircraft Type:

Commercial aircraft is expected to remain the largest segment of the aircraft fuel systems market during the forecast period. The UAV segment is also projected to witness the highest growth over the next five years, propelled by increasing investment for the development of UAVs across the world.

By Engine Type:

The jet engine is expected to remain the growth engine of the aircraft fuel systems market during the forecast period, driven by a higher penetration in the commercial and regional aircraft.

By Region:

North America is projected to remain the largest aircraft fuel systems market during the forecast period, driven by the USA. The region is the manufacturing capital of the aerospace industry with the presence of several large- to small-sized aircraft manufacturers, MRO players, tier players, and raw material suppliers. The North American aerospace industry is well-developed and possesses strong technological capabilities.