DETROIT, Oct. 15, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Aerospace Fuel Tank Inerting System Market By Platform Type (Commercial Aircraft and Military Aircraft), By Stage Type (Aircraft-based System and Ground-based System), By Method Type (Inert Gas Supply, Ullage Washing, and Fuel Scrubbing), By Technology Type (ASM-based System, Pressure Swing Adsorption, and Others), By End-User Type (OE and Aftermarket), and By Region (North America, Europe, Asia-Pacific, and Rest of The World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's aerospace fuel tank inerting system market realities as well as future possibilities for the forecast period of 2019 to 2024. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
Aerospace Fuel Tank Inerting System Market: Highlights
Fuel tank inerting system, also known as flammability reduction system, is a component in the fuel system that protects against fire and explosion in the fuel tank by developing an inert condition within the ullage space of the tank. It is achieved by supplying inert gas, mostly nitrogen, to displace the oxygen in that ullage space. The odds of fuel tank fire or explosion is high during aircraft refueling in the ground and in-flight. In case of refueling, ground-based systems are used for the supply of inert gas to the aircraft when aircraft is in inactive mode. During the flight, fuel is continuously consumed creating the space for flammable gases where the fuel tank inerting system converts the bleed air to nitrogen-enriched air (NEA), replacing the flammable gases in the fuel tank. This reduction of oxygen in the fuel tank prevents combustion, even if a spark is present. The oxygen concentration inside the fuel tank of an aircraft should be less than 11.9% but can vary in the range of 9%-12%. In such type of systems, the nitrogen-enriched air (NEA) is supplied at a concentration of 10%-12%.
Initially, fuel tank inerting systems were deployed only on military aircraft to protect it from hazards. In commercial aircraft, its usage was examined and studied only after the fatal accident of TWA800 in 1996. In the industry, current focus is on the development and commercialization of catalytic inerting technology. Parker Aerospace and Phyre Technologies have signed an exclusive license agreement on the product development of Phyre's patented catalytic inerting technology.
As per an indepth study conducted by Stratview Research, aerospace fuel tank inerting system market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 493.6 million in 2024. Increasing aircraft deliveries fueled by rising passenger traffic, introduction of variants of existing programs, increasing production rate of key aircraft programs, and expanding fleet size are the major factors driving the growth of fuel tank inerting systems in the aerospace industry. The aviation industry is increasingly incorporating advanced lightweight materials in both structural and semi-structural components to reduce the weight of an aircraft. Fuel tank inerting systems are also not untouched with such dynamics with greater usage of lightweight materials, such as aluminum and advanced high-strength steel (AHSS).
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Commercial aircraft are expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft owing to rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment's market. Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
Based on the method type, the market is segmented into inert gas supply, ullage washing, and fuel scrubbing. Inert gas supply is expected to remain the most preferred choice in the market during the forecast period, driven by its higher penetration in commercial and regional aircraft segments. Since the development of hollow-fiber membrane air separation technology, on-board inert gas generating system (OBIGGS) is widely used in the aerospace industry as it eliminates the usage of an inert gas storage systems in the aircraft.
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In terms of regions, North America is projected to remain the largest market for aerospace fuel tank inerting systems during the forecast period. The USA is the growth engine of the region's market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. However, Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus in China, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ).
The key players in the aerospace fuel tank inerting system market are Parker-Hannifin Corporation, Air Liquide S.A., Cobham plc, Collins Aerospace (UTC), Eaton Corporation Inc., ESCO Technologies Inc., Honeywell International Inc., Porvair plc, Valcor Engineering Corporation, and Zodiac Aerospace (Safran S.A.). Formation of long-term contracts, development of lightweight components, and strategic alliances are the key strategies adopted by major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors
This report studies the global aerospace fuel tank inerting system market and has segmented the market in six ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the six ways in which the market is segmented:
Aerospace Fuel Tank Inerting System Market, By Platform Type:
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Fuel Tank Inerting System Market, By Stage Type:
- Aircraft-based System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Ground-based System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Fuel Tank Inerting System Market, By Method Type:
- Inert Gas Supply (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Ullage Washing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fuel Scrubbing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Fuel Tank Inerting System Market, By Technology Type:
- ASM-based System (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Pressure Swing Adsorption (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Fuel Tank Inerting System Market, By End-User Type:
- OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace Fuel Tank Inerting System Market, By Region:
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, Spain, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, Middle East, and Others)
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
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