Global Aircraft Electric Taxiing Systems Market 2017-2021
About Aircraft Electric Taxiing Systems
The global commercial aviation industry is gradually moving toward developing and adopting economically and environmentally sustainable models of aircraft. This implies minimizing the combustion of jet fuel and driving these operations with alternate energy resources. Aircraft taxiing is one such operation, which is being investigated by researchers globally to adopt sustainable ways to avoid engaging the main engines and thus, bring down fuel consumption. Stakeholders were gradually progressing toward the development, but the steep fall in the oil prices discouraged potential stakeholders to invest in new technology. Technavio expects the market to generate revenue from 2018 when few alternate taxiing systems will be commercialized.
Technavio’s analysts forecast the global aircraft electric taxiing systems market to grow at a CAGR of 10.26% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aircraft electric taxiing systems market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aircraft Electric Taxiing Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global aircraft electric taxiing systems market: Aerospace Industries, Technodinamika, and WheelTug.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of zero-emissions hydrogen fuel cell technology. The hybrid plane concept uses a hydrogen fuel cell stored in the aircraft’s hold, and as the aircraft brakes on landing, the system allows energy to be captured, which is then used for charging lightweight batteries of the aircraft. Thus, with the growing demand for zero-emission and fuel-efficient aircraft, aviation stakeholders are investing in the development of new technologies.”
According to the report, one driver in market is growing demand for eTaxi solutions. The aviation industry is experiencing a strong growth owing to the increasing demand for air travel around the world. With the growing passenger traffic, airline operators have increased the frequency of flights and added new routes to their portfolio, resulting in an increase in fleet size. Thus, airport operators are focusing on new opportunities to increase their profit margins while reducing operating costs. On that front, airline operators are significantly focusing on reducing cost at airfields through the implementation of new methods and technologies. Conventionally, pilots use APUs along with a single engine during aircraft taxiing. Though this method is cost efficient to a certain extent, adoption of new developments, such as ETS, will allow zero fuel consumption in addition to cost efficiency.
Further, the report states that one challenges in market is challenges due to increase in overall weight. An Airbus A320 aircraft projects a combustion of about 65.14 gallons of jet fuel during taxiing, which translates to an expenditure of $339.4 per flight (considering the price of jet fuel at $5.21 per gallon). Though the use of ETS will offset this cost, the installation of motors will contribute to the overall weight of the aircraft and thus, reflect higher fuel consumption throughout the flight. Considering that each of these aircraft makes five flights each day, the fuel consumption during taxiing will account for almost $1,700 every day. Thus, it can be argued that the installation of green taxiing systems will only be financially viable if the airline is prepared to invest a significant amount upfront and across a considerable portion of its fleet.
Aerospace Industries, Technodinamika, and WheelTug.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook