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Fuel Tank Inerting and Fuel Systems Market Forecast to Reach $13.6 Billion by 2026

(IT-NEWSWIRE.COM, January 14, 2022 ) Fuel Tank Inerting and Fuel Systems Market is forecast to reach $13.6 billion by 2026, growing at a CAGR 6.2% from 2021 to 2026. Fuel tank inerting system, also known as flammability reduction system, is a part in the fuel system that protects the fuel tank against fire and explosion by maintaining an inert state within the tank's space. The rising incidence of aircraft fires and fuel tank explosions combined with tight implementation of Federal Aviation Administration (FAA) regulations is leading industry players to integrate new technology to provide safer and more effective fuel systems. Aircraft original equipment manufactures are concentrating on reducing all potential sources of ignition in fuel tanks, and are retrofitting nitrogen generator or fuel tank inerting systems which is further expanding the market value of fuel injection systems. An inclination towards powerful aircraft fuel systems based on diesel fuel injector cleaners, combined with growing adoption of more fuel-intensive engines are factors that drive the growth of the demand for inerting fuel tank systems. Inerting devices in the aircraft eliminate the risk of the materials contained in a fuel tank being combusted by retaining an inert gas in a confined space. Lightweight aircraft architecture greatly improves fuel efficiency which, in effect, propels the demand for fuel systems. Rising demand for lightweight long range aircraft in the aerospace industry is a key driver in fuel systems market growth.



Fuel Tank Inerting and Fuel Systems Market Segment Analysis - By Equipment Type



During the forecast period the hollow fiber membrane segment is expected to grow at a CAGR of 7.2%. Due to its greater durability and lower costs over other types of systems, Hollow fiber membrane systems hold the major share in the Fuel Tank Inerting Systems market. This system can be paired with existing systems such as compressed-air systems for nitrogen supply. According to the Federal Aviation Administration (FAA), hollow fiber membrane (HFM) gas separation technology provides low-cost inert gas, as it applies to design requirements for civil transport to allow inert gas generation on board cost-effectively. Externally pressurized polymethylene hollow fiber bundles are anticipated to exceed the aircraft's 20-year life expectancy with less weight and space requirements, resulting in increased demand for hollow fiber membranes on the market for fuel tank inerting systems.



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Fuel Tank Inerting and Fuel Systems Market Segment Analysis - By Application



The UAV’s Segment is expected to grow at a higher CAGR of 9.9% during the forecast period. UAV has been a growing application for the Fuel Tank Inerting Systems market, and is expected to grow at the fastest rate due to the growing investment in development of UAVs worldwide. For instance, $1.2 billion was invested into the drone industry in 2019. In 2019 about 412,000 commercial drones were registered and 1,1 million small hobbyist drones were registered, according to the FAA, and this number is set to rise rapidly. The demand for UAVs stems from its various applications such as remote sensing, aerial surveillance, motion picture filming, oil and gas exploration, disaster relief, construction and aircraft travel ordnance. Drones play a key role in the fight against coronavirus by supporting authorities and citizens in different ways to avoid further spread of coronavirus outbreaks, thus showcasing high growth even with other aircraft markets witnessing a decline during the Covid-19 pandemic.



Fuel Tank Inerting and Fuel Systems Market Segment Analysis - By Geography



APAC currently dominates the global Fuel Tank Inerting and Fuel Systems Market with a share of more than 36.2%. Increasing commercial aircraft fleets, indigenous commercial and regional aircraft production, the establishment of assembly plants in China by major commercial aircraft manufacturers such as Boeing and Airbus, and an increase in the defense budgets of countries in the region are key factors contributing to the growth of the Asia-Pacific fuel systems market. Factors such as the increasing demand for new aircraft to cater to the rising air passenger traffic in developing economies including China and India are driving this region's fuel tank inerting systems market.Increasing FTIS applications in Unmanned Aerial Vehicles ( UAVs) with increasing trend for UAVs in the military and commercial sectors is providing opportunities for inerting systems for fuel tanks during the forecast era in this region.



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Fuel Tank Inerting and Fuel Systems Market Drivers



The growing trend for lightweight aircrafts



As demand for fuel-efficient aircraft is increasing from airlines to reduce their operating costs, manufacturers focus on integrating advanced lightweight materials into components to reduce the aircraft's overall weight. Lightweight aircraft significantly improve fuel efficiency, which in turn drives the inerting systems of fuel tanks to leverage advanced lightweight materials.With aircraft companies focusing on fuel efficiency and the fact that fuel-efficient aircraft help to reduce carbon footprint, this trend is set to grow further during the forecast period. For example, KLM, a Dutch-based airlines, had revealed its new "Flying V" fuel-efficient aircraft which uses 20 percent less fuel compared to the current airbuses. The latest concept of an aircraft would reduce the carbon footprint of aviation and is scheduled to join the KLM fleet before 2040.The growing demand for lightweight aircraft is instigating the manufacture of the fuel tank inerting system to leverage advanced lightweight materials and thereby helping the growth of fuel tank inerting system market.



Stringent regulations on fuel efficiency and incorporation of advanced technology



FAA has mandated flammability reduction means (FRM) or ignition means to be mounted on fuel tanks with flammability exposure reaching certain thresholds. Growing aircraft production in a variety of countries is expected to drive the market. According to the FAA, in the period 2019-2020 the world's aviation accidents increased from 66 to 73.The increasing number of aircraft fire accidents and fuel tank explosions, coupled with increased awareness of the stringent FAA regulations, has prompted companies to incorporate advanced technology to deliver more efficient, safer and lightweight variants that will drive the growth of the fuel tank inerting system market.



Fuel Tank Inerting and Fuel Systems Market Challenges



High cost



High initial investment has limited business growth. For example, for the 1,019 Airbus and 2,795 Boeing aircraft operated by US airlines, the total cost of the fuel tank inerting system is about $600 million. Additionally, the cost of construction ranges from $140,000 to $220,000 depending on the size of aircraft. Huge cost of installing and maintaining the equipment is anticipated to hinder the market growth of fuel tank inerting.



Fuel Tank Inerting and Fuel Systems Market Landscape



Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Fuel Tank Inerting and Fuel Systems Market. Fuel Tank Inerting and Fuel Systems Market is expected to be dominated by major companies such as Eaton, Parker Hannifin, Woodward, Honeywell, Meggitt, GKN Aerospace, UTC, Crane Co., Triumph Group, Cobham mission systems.



Acquisitions/Technology Launches



In December 2019 Hitachi Automotive Systems Ltd. Launched their New Direct Fuel Injection Engine Control Systems for Meeting Future Fuel Economy Requirements and Emission Standards. It provides various advanced system solutions in response to needs for automobile fuel economy, emissions and power.



In Nov 2019, Eaton launched the first Indian aerospace manufacturing plant. The production facility, located in Bengaluru, will manufacture hose assemblies and other items for fluid distribution.



Key Takeaways



The increasing incidence of aircraft fires and fuel tank explosions combined with tight implementation of Federal Aviation Administration (FAA) regulations leads industry players to integrate new technology to deliver safer and more efficient fuel systems.



Due to its low cost and high durability, the increasing adoption of hollow fiber membrane in aircraft drives fuel systems and membrane filters in aircraft fuel tanks.



Increasing FTIS applications in Unmanned Aerial Vehicles (UAVs) with increasing trend for UAVs in the military and commercial sectors is providing opportunities for inerting systems for fuel tanks during the forecast era.



Due to high investment in the adoption of air separation devices, APAC dominates the Fuel Tank Inerting Systems market, driven by increased production and aircraft deliveries in the region.



The growing trend for light weight aircraft and the adoption of light weight advanced materials in aircraft production for better fuel efficiency has created opportunities for inerting fuel tank systems.



Related Reports



A.Fuel Tank Inerting Systems Market



https://www.industryarc.com/Report/18947/fuel-tank-inerting-systems-market



B.Engines and Systems Market



https://www.industryarc.com/Report/18660/engines-and-systems-market.html



For more Automation and Instrumentation Market reports, please click here



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