HOME Research Insight Agreements and Acquisitions were the Key Strategies Adopted by Market Players to Achieve Growth in the Aircraft Pumps Market

Agreements and Acquisitions were the Key Strategies Adopted by Market Players to Achieve Growth in the Aircraft Pumps Market

The aircraft pumps market report covers all types of aircraft pumps used in aircraft systems, including fuel pumps, oil pumps, hydraulic pumps, lubrication pumps, and water and waste system pumps, among others. The aircraft pumps market is projected to grow from an estimated USD 3.27 Billion in 2017 to USD 4.79 Billion by 2023, at a CAGR of 6.57% during the forecast period. The rapid growth in air passenger traffic and flight hours of aircraft has led to shorter replacement periods for aircraft pumps in order to run aircraft at optimum efficiency and safety.

Key players in the aircraft pumps market are Parker Hannifin (US), Eaton (Ireland), Honeywell (US), Zodiac Aerospace (France), Woodward (US), and AeroControlex (US) among others. These companies account for a major share of the aircraft pumps market and have manufacturing facilities in regions, such as North America, Europe, and the Asia Pacific. They have adopted strategies, such as contracts, new product developments, agreements, acquisitions, and partnerships, among others from April 2013 to October 2017, to increase their market shares.

For instance, in Dec 2017, Parker Aerospace, a business unit of Parker Hannifin (US) signed a long-term contract with Emirates Limited (UAE) for the upcoming fleet of 150 777X aircraft of Emirates. Parker Aerospace offers light weight pumps utilizing materials and manufacturing methods, which reduce the weight of pumps.  This considerably reduces the weight of the aircraft and in turn, helps in fuel efficiency.

In January 2015, Parker Aerospace entered into a contract with AVIC Aircraft to provide flight control actuation and hydraulic systems for its regional aircraft.

Honeywell (US) signed a contract with Boeing in November 2017 to provide service solutions for Boeing-777 and Airbus 380 to maintain its aftermarket components.

Crane Aerospace & Electronics, a Crane Co. segment, signed an Authorized Repair Services Agreement with Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO) in 2015. Under the agreement, GAMECO will serve as an authorized repair station in China for a number of Crane products including Boeing aircraft fuel pumps, engine fuel flowmeters, brake control wheel speed transducers, and control valves.

Related Reports:

Aircraft Pumps Market by Pressure (500psi, 3000psi, 5000psi, 6500psi) Technology (Engine Driven, Electric Motor Driven, Rat Driven, Air Driven), Type (Fuel, Hydraulic, Lubrication, Cooling), End User, Application, Region - Global Forecast to 2023

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