Global Aircraft Fuel Tanks Market thrives with the rising production of aircraft

Market Overview:
The global aircraft fuel tank market is expected to experience a CAGR of more than 3% during the forecast period.

The global market for aircraft fuel tanks is experiencing significant growth due to increased aircraft production around the world. The term aircraft fuel tank is typically applied to a part of an aircraft engine system in which fuel is stored and released in an engine. Aircraft fuel tanks often vary in physical features like size and complexity, ranging from a tiny plastic tank to a multi-chamber. These tanks are usually integrated into the wings of the aircraft, this location allows to reduce the stress on the wings during take-off and flight.

Recent Developments:
GKN Aerospace announced the launch of a 'one-stop' repair service for flexible rotary and fixed wing fuel tanks, which aims to cut the repair times typically encountered by operators in the UK and Europe.

Market Drivers and Restraints:
The surge in the production of new aircraft across the globe, the increasing investments in research and development in improving the fuel tank material of aircraft to optimize the resistance power and decrease the weight of the aircraft to increase its efficiency are acting as principal growth drivers in this market. The rapid improvement of fuel tanks in old or existing aircraft are also acting as the drivers of the global market for aircraft fuel tanks. However, stringent government rules and policies coupled with high manufacturing costs are anticipated to limit this market boom to some extent. In contrast, the increasing size of the military and commercial aircraft fleet is supposed to contribute to the growth of the global aircraft fuel tank market in future.

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Report is segmented as:

By Type:
• External
o Conformal Tanks
o Drop Tanks

• Internal
o Integral Tanks
o Rigid Removable Tanks
o Bladder Tanks
o Tip Tanks
o Auxiliary Tanks

By End-use:
• Aftermarket
o Parts Replacement
o MRO
• OEM

By Platform:
• Commercial Aviation
o Commercial Aircraft
o General & Business Aircraft
o Helicopters
• Military Aviation
o Fixed-wing Aircraft
o Helicopters
o Unmanned Aerial Vehicles (UAVs)

By Material:
• Carbon-based Composites
• Metallic Alloys
• Hybrid
• Polymers

Geographical segmentation:
Based onthe geography, the global aircraft fuel tank market is divided into regions of the Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. Among these regions, Asia Pacific is forecasted to be fastest growing market in the projection period.

Key market players:
Some of the significant players in the aircraft fuel tanksmarket are Meggitt PLC (UK), Cobham plc (UK), Safran S.A. (France), GKN Aerospace (UK), Robertson Fuel Systems LLC (US), Aero Tec Laboratories, Inc. (US), Elbit Systems – Cyclone Ltd. (Israel), General Dynamics Corporation (UK), and Marshall Aerospace and Defence Group (UK).

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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