According to the MRFR reports, the global aircraft fuel tanks market is likely to acquire a market size of over USD 992.52 Million by 2030 while registering a healthy growth rate of 1.8% during the assessment timeframe.

An aircraft fuel tank allows fuel to be loaded, managed, stored, and delivered to the aircraft's engine. It is a vital part of an aircraft fuel system. The global aircraft fuel tanks market insights has witnessed massive growth. The market's growth is attributed to a significant increase in demand for new aircraft, increasing passenger traffic, and increasing defense expenditures. Furthermore, the rise in the use of UAVs for defense and commercial applications and stringent safety regulations are other crucial parameters boosting the market's growth. The launch of new aircraft programs is likely to offer lucrative opportunities over the forecasted era.

Competitive Analysis

The global aircraft fuel tanks market has a brawny competitive landscape. The list of leading players in the aircraft fuel tanks market includes Safran SA (France), Northstar (US), Marshall Aerospace and Defense Group (UK), General Dynamics Corporation (US), Cobham plc (UK), Robertson Fuel Systems LLC (US), Meggitt PLC (UK), Aero Tec Laboratories Inc. (US), Elbit Systems Ltd. (Israel), GKN Aerospace (UK), and several others.

Segment Analysis

The global aircraft fuel tank market has been divided into several segments based on type, platform, and region.

The aircraft fuel tank market is divided into internal and external based on type.

The global market for aircraft fuel tanks is bifurcated into UAV, military aviation, and civil aviation by platform.

Regional Analysis

The global aircraft fuel tanks market trends is studied across five major regions, including Latin America, the Middle East & Africa, Asia-Pacific, Europe, and North America.

As per the research reports by MRFR, the North American regional aircraft fuel tanks market is likely to rule the market across the globe. The regional market's growth is being driven by the presence of prominent players such as Robertson Fuel Systems LLC, General Dynamics Corporation, and Aero Tec Laboratories Inc., and massive investments being made by these players.

The European regional market for aircraft fuel tanks is projected to grow substantially over the review timeframe. The regional market's growth is being driven by the adoption of UAVs and fighter jets by the military forces for tactical missions.

The Asia-Pacific regional aircraft fuel tanks market will witness the highest growth rate over the review timeframe. The regional market's growth is being propelled by the increasing defense expenditure and rising demand for new aircraft in countries like China and India.

The aircraft fuel tanks market for the Middle East & African region is growing substantially due to major airlines such as Saudi Arabian Airlines and Etihad Airways. Furthermore, the rising defense expenditures by countries such as Israel, UAE, and Saudi Arabia is also likely to accelerate the regional market's growth.

The Latin American regional market is anticipated to record a substantial growth over the review time given the control of illegal migration and an increase in the use of UAVs for intelligence gathering.

Recent Developments

• June 2021- Airbus is set to boost its work on hydrogen fuel tanks for airlines by deploying a pair of Zero-Emission Development Centers (ZDEC) at the company's facility in Bremen in Germany and Nantes in France. The plants focus on establishing a cost-competitive approach to producing the cryogenic tanks required for the Zero E hydrogen-powered airliner, which the European airframer has planned to get to the market in 2035.

• May 2021- Premium Aerotec has handed over the first completed rear center tank for the A321XLR. The latest tank offers the extra capacity needed to send the XLR to the longest ranges and is at the core of the latest Airbus aircraft. The first-ever completed RCT offers extra fuel capacity for the long-range narrowbody aircraft.

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