Global Aircraft Fuel Tanks Market Size to Reach USD 1,058.8 Million in 2032 | Emergen Research

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Growing focus on aircraft weight reduction is a major factor driving global aircraft fuel tanks market revenue growth

Vancouver, Sept. 04, 2023 (GLOBE NEWSWIRE) — The global market for aircraft fuel tanks attained a valuation of USD 899.00 Million in 2022. Projections from the latest analysis conducted by Emergen Research indicate a prospective compound annual growth rate (CAGR) of 1.7% in revenue, reaching the year 2032. This anticipated growth can be attributed to the escalating volume of aircraft orders on a global scale. This surge in orders subsequently drives a heightened demand for efficient fuel storage solutions within the industry.

A pivotal driver behind this upward trajectory is the increasing emphasis placed by aircraft manufacturers on achieving a delicate balance between weight reduction and uncompromised quality. This endeavor has translated into a significant demand for fuel tanks constructed from lighter-weight materials. By incorporating lighter aircraft fuel tanks, the overall weight of the aircraft is diminished, yielding several benefits such as reduced fuel consumption and operational costs.

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Furthermore, this weight reduction facilitates an augmented fuel load capacity, consequently extending the aircraft’s operational range—an indispensable feature for long-haul flights. This extended range capability not only enhances operational flexibility but also contributes substantially to the expansion of revenue within the aircraft fuel tanks market.

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The surging demand for self-sealing fuel tanks within the domain of military aviation stands as an additional catalyst propelling the expansion of market revenue. Within the realm of military aviation, fuel tanks assume a critical role, acting as the primary reservoirs for fuel that enables aircraft to execute flights and accomplish missions. The integration of self-sealing fuel tanks introduces a pivotal advancement in this context, working to avert potentially catastrophic fires and explosions.

The primary objective of employing self-sealing tank technology is to prevent leakage from aircraft tanks that have been compromised by projectiles, particularly those ranging from 7.65mm to 14.5mm caliber bullets. These specialized tanks not only fortify aircraft against potential damage but also yield the advantage of extended aircraft range and autonomy. Furthermore, they contribute substantially to enhancing occupant safety, bolstering the overarching drive behind the revenue growth in the market.

However, it’s essential to acknowledge that the burgeoning expenses associated with maintenance present a notable impediment to the expansion of market revenue. Maintenance is a critical aspect to ensure the integrity of fuel tanks, preventing leaks and mitigating other associated risks. Additionally, the finite capacity of fuel tanks introduces a constraint on the aircraft’s operational range, thereby influencing the distance the aircraft can traverse before necessitating refueling operations.

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Scope of Research

Report Details Outcome
Market size in 2022 USD 899.0 Million
CAGR (2023–2032) 1.7%
Revenue forecast to 2032 USD 1,058.8 Million
Base year for estimation 2022
Historical data 2019–2021
Forecast period 2023–2032
Quantitative units Revenue in USD Million and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, platform, material, end-use, and region.
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Meggitt PLC, Cobham Limited, GKN Aerospace Services Limited, Robertson Fuel Systems, Aero Tec Laboratories Ltd, Elbit Systems Ltd, General Dynamics Corporation, Marshall of Cambridge Aerospace Limited, Kautex, Dakota Cub Aircraft.
Customization scope 10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global aircraft fuel tanks market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

  • Meggitt PLC.
  • Cobham Limited.
  • GKN Aerospace Services Limited.
  • Robertson Fuel Systems.
  • Aero Tec Laboratories Ltd.
  • Elbit Systems Ltd.
  • General Dynamics Corporation.
  • Marshall of Cambridge Aerospace Limited.
  • Kautex.
  • Dakota Cub Aircraft

Strategic Development

  • On 25 April 2021, Israel developed new external fuel tanks for its F-35I Adir jets. The development of the new fuel tanks was being done under the collaboration of Israel’s Ministry of Defense, Air Force, and defense industries that aim to upgrade the strategic capabilities of the Israel Defense Forces (IDF) against third circle countries.

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Some Key Highlights From the Report

  • The internal segment accounted for largest revenue share in 2022. Internal fuel tanks provide greater fuel capacity, allowing the aircraft to travel longer distances without refueling which is a major factor driving revenue growth of this segment. This is especially beneficial for long-haul flights, as it allows airlines to operate nonstop routes while decreasing the need for intermediate stops.
  • The commercial aviation segment is expected to account for a significantly large revenue share in the market over the forecast period. Commercial airplanes can travel greater distances without refueling owing to the usage of fuel tanks which in turn improves efficiency and cost-effectiveness of air travel, as well as convenience for passengers. Fuel tanks are built with safety in mind, including features such as sensors and warning systems that can alert pilots to potential fuel-related concerns during flight. Therefore, all these factors are driving revenue growth of this segment.
  • The metallic alloys segment accounted for a significantly large revenue share in 2022. Aluminum aviation fuel tanks have been widely used for nearly two decades owing to numerous advantages such as light weight, ease of construction, and superior corrosion resistance. This is essential for airplanes because they are constantly subjected to inclement weather such as rain, snow, wind, and even lightning strikes. Aluminum alloys are extremely resistant to these factors, ensuring that the plane stays safe and secure while in flight, contributing to revenue growth of this segment.
  • The market in North America accounted for largest revenue share in 2022. Rising aircraft orders and a growing focus on aircraft weight reduction are major factors driving the market revenue growth in this region. Aircraft fuel tanks are lightweight and aerodynamic, which can assist airlines increase fuel efficiency and save operating costs. Aircraft fuel tanks are built using innovative materials and technology, which help to improve safety and reduce the risk of fuel leaks or fires.
  • On 30 March 2022, HyPoint announced a collaboration with Gloyer-Taylor Laboratories, an aerospace engineering Research and Development (R&D) company, to develop BHL Cryotank carbon fiber composite Liquid Hydrogen (LH2) fuel tanks with a 75% mass reduction compared to existing state-of-the-art aerospace cryotanks (metal or composite). HyPoint integrated BHL Cryotank H2 storage into its turbo air-cooled fuel cell system, allowing H2-powered aircraft and electric Vertical Take-Off and Landing (eVTOL) makers to store up to ten times more LH2 fuel without adding mass. As a result, aircraft can travel for longer periods without refueling.

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For the purpose of this report, Emergen Research has segmented the global aircraft fuel tanks market on the basis of type, platform, material, end-use, and region:

  • Type Outlook (Revenue, USD Million; 2019–2032)
    • External
      • Conformal fuel tank
      • Drop Tank
    • Internal
      • Integral Tanks
      • Rigid Removable
      • Bladder tank
      • Tip Tank
  • Platform Outlook (Revenue, USD Million; 2019–2032)
    • Commercial Aviation
      • Commercial Aircraft
      • General & Business Aircraft
      • Helicopters
    • Military Aviation
      • Fixed-wing Aircraft
      • Helicopters
      • Unmanned Aerial Vehicles
  • Material Outlook (Revenue, USD Million; 2019–2032)
    • Carbon-based Composites
    • Metallic Alloys
    • Hybrid
    • Polymers
  • End-Use Outlook (Revenue, USD Million; 2019–2032)
    • Aftermarket
    • OEM
  • Regional Outlook (Revenue, USD Million, 2019–2032)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Spain
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
      • Brazil
      • Rest of LATAM
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Rest of MEA

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