The global aircraft external fuel tank market is experiencing a significant growth due to rise in production of aircraft across the globe. Aircraft external fuel tank is a safe container for storage of fuel or flammable fluids. The term aircraft fuel tank is typically applied to part of an aircraft engine system in which the fuel is stored and propelled or released into an engine. External aircraft fuel tanks range in size and complexity from the small plastic tank of a butane lighter to a multi-chambered external tank. Aircraft fuel tanks are often integrated into the wings of the aircraft, this placement reduces the stress on the wings during takeoff and flight.

COVID-19 scenario analysis:
The measures to arrest the spread of COVID-19 has severely dented the consumption of fuel worldwide, since flights are grounded across the globe.

The halt in production of new aircrafts as well as upgradation of existing aircrafts due to supply chain & operational constraints imposed by governments due to COVID-19 pandemic has created lack of demand for aircraft fuel tank.

The restricted site access to R&D facilities due to COVID-19 scenario will hamper the future development of aircraft fuel tank systems. Such delay will prevent commercial airlines companies, governments, and military organizations to postpone existing aircraft fuel tank upgradation.

COVID-19 has brought upon travel bans and economic shutdown on aircraft industry, exhausting the financial resources which could help the aircraft fuel tank market grow.

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Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Surge in aircraft production, increase in demand for fuel tank upgradation in older aircrafts, and rise in adoption of light external fuel tank materials for increased aircraft efficiency are the factors that drive the global aircraft external fuel tank market. However, strict standards and guidelines from regulating authorities and high cost of manufacturing hinder the market growth hinder the market growth. On the contrary, growing military & commercial aircraft fleet size is anticipated to contribute to the growth of the aircraft fuel tank market.

The global aircraft external fuel tank market trends are as follows:

Rise in adoption of light external tank external fuel tank materials for increased aircraft efficiency
The growing focus of aircraft manufacturers on aircraft weight reduction without compromising with its strength and quality of work is expected to increase the demand for the high strength & lighter weight materials for aircraft fuel tank. Recently, in 2020, Boeing Defense conducted the first flying test of its new generation F-18 Super Hornet Block III fighter aircraft that is expected to be delivered the US Navy. Moreover, F-18 can carry up to five external fuel tanks and the aircraft can be configured as an airborne tanker by adding an external air refueling system. Hence, the development of the lightweight external fuel tank in aerospace sector will also add up to the growth of the global aircraft external fuel tank market.

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Key benefits of the report:

This study presents the analytical depiction of the global aircraft external fuel tank industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global aircraft external fuel tank market share.
The current market is quantitatively analyzed to highlight the global aircraft external fuel tank market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global aircraft external fuel tank market analysis based on competitive intensity and how the competition will take shape in coming years.

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