The Global Aircraft Pumps Market sales to reach 6 billion dollars.

The aircraft pumps market sales is predicted to skyrocket between 2022 and 2032 and to reach about 6 billion dollars.

FREMONT, CA:The sale of aircraft pumps market, which was valued at 3.73 billion dollars in 2021, is expected to reach 6 billion dollars between 2022 and 2032, with a positive CAGR of around 5 percent. An increase in the number of flights, particularly in Asia Pacific and Europe, as well as technological advancements, is driving up demand for aircraft pumps. Furthermore, throughout the evaluation period, aircraft manufacturers have expressed a strong desire to adopt electrically powered pumps.

However, sales were negatively impacted during the peak of the COVID-19 pandemic due to the frequency of domestic and international air travel which dropped drastically. The International Civil Aviation Organization (ICAO) reported a nearly 60 percent drop in passenger flight traffic in 2020 compared to 2019. Prospects began to improve in 2021 as restrictions were gradually relaxed in the aftermath of lower infection rates.

Significant growth in passenger and freight air travel is driving demand for new aircraft, resulting in increased manufacturer competition in terms of performance optimization and maintenance and operational cost reduction. The International Air Transport Association (IATA) predicts that by 2035, there will be 7.2 billion air travelers, with Asia Pacific accounting for the majority of traffic. According to IATA, China is expected to overtake the United States as the world's largest aviation market by 2024, as traditional aeroplanes are phased out in favor of more fuel-efficient models, aircraft pump manufacturers are focusing on high-pressure lightweight features.

A growing customer base combined with low operating expenses will benefit aircraft component manufacturers and OEMs in the future. Airlines are increasingly opting for lightweight pumps in order to save money on fuel. Furthermore, increased air passenger traffic results in a shorter replacement cycle, driving up demand for aircraft pumps in the MRO industry.

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