Global Collapsible Fuel Tank Market: Overview
Airplanes and other aerial vehicles fly on some of the highly flammable fuels. These fuels can catch fire with just one spark that can occur from a wire failure or any other external factor. Due to this aircraft manufacturers are incorporating new techniques to save avgas to catch fire. One such alternative for protecting an aircraft is collapsible fuel tank. The tanks is made up of flexible composite that can fit in a tight space and can be made from virtually any composite. As a result of the safety it offers to the pilot, passenger, and aviation industry altogether, the collapsible fuel tanks are in high demand. Due to its growing demand in not just aviation industry, but also in ships, commercial and amphibious vehicles, the global collapsible fuel tank market is experiencing a substantial growth in in the forecast period of 2019 to 2027.
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A report by Transparency Market Research offers in-depth analysis of global collapsible fuel tank market for the forecast period of 2019 to 2027. The report offers 360 degrees of thorough analysis of facets such as opportunities, key strategies opted by competitors, and major challenges organizations might face while operating in global collapsible fuel tank market during the forecast period of 2019 to 2027.
Global Collapsible Fuel Tank Market: Notable Developments
Product launches and strategic acquisitions are the two tools that businesses in global collapsible fuel tank market are opting to withstand the competition pertaining to growing number of players in the market. These strategies allow the organizations to boost their customer base along with their profit margin. As a result the players can have a substantial hold on the dynamics of global collapsible fuel tank market.
- In July 2019, ContiTech AG a sister concern of Continental acquired Merlett Group to expand its expertise in developing materials for handling industrial fluids. The acquisition helped ContiTech AG to replenish its resources and get an edge over its rival in terms of technology and production.
Some more prominent players of the global collapsible fuel tank market are:
- Aero Tec Laboratories, Inc.
- Thomas Net
- Vinyl Technology, Inc.
- SPC “Polytechnika” LLC
Global Collapsible Fuel Tank Market: Key Drivers
Easy Storage Demands for Innovative Solutions
Collapsible fuel tanks can store a huge amount of fuels for without adding much weight to the vehicles. Due to this vehicles can carry large amount fuel increasing their performance. This easy storage property of these fuel tanks is disrupting the demands for such innovative solutions. Due to this reason the demand for collapsible fuel tanks is growing exponentially these days and propelling the growth of global collapsible fuel tank market in the forecast period of 2019 to 2027.
Applications in Various Industries
Collapsible fuel tanks are extensively being used by various industries like chemicals to store and transport flammable compounds. Other than chemicals, petroleum industry also uses collapsible fuel tanks for transporting crude oils from oil well to refinery. This allows the shipping companies to stop the oil from leaking in the ocean and affect the marine ecosystem. These applications from various industry is also a major factors that are propelling the growth of global collapsible fuel tank market during the forecast period of 2019 to 2027.
HDPE Development Plays a Crucial Role
Apart from plastic, various other composites are heavily used to manufacture collapsible fuel tanks. HDPE is one such composite that fuels the growth of global collapsible fuel tank market. This is because of the composite provides advantages like heat and damage resistance to the fuel tanks which can be proved critical in saving lives during an accident in an aircraft.
Apart from HDPE, polycarbonates are also used in manufacturing collapsible fuel tanks. For example apache helicopters have fuel tanks that are made from polycarbonates that self-seals protecting them from any ballistic projectiles. These technological developments also fuels the growth of global collapsible fuel tank market.
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Global Collapsible Fuel Tank Market: Regional Analysis
As a result of growing military developments and development of new agile aircrafts by the U.S. North America is expected to dominate the global collapsible fuel tank market. The region is also expected to dominate other regions of the market because, countries like Canada and the U.S are investing heavily in developing airplane of tomorrow. Moreover, based on rapid industrialization in the region, the adoption of collapsible fuel tank to transport valuable fluid from one location to another. Based on these adoptions and application North America is expected to have substantial potential for the players of global collapsible fuel tank market in the forecast period of 2019 to 2027.
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