News:Global Aerospace Valves Market is projected to reach a value of over USD 6 billion by 2027
AEROSPACE VALVES MARKET: Summary
The Global Aerospace Valves Market is projected to reach a value of over USD 6 billion by 2027 at a CAGR of around 5.4%.
Aerospace valves are devices used for direction, regulation, and control of flowing fluid such as gases, liquids, and slurries. This is employed by the closing, opening, and partial obstruction of the pathways wherein these fluids flow. These valves enable transferring of fluids to various aircraft components, thereby helping the aircraft to perform better.
The global aerospace valves market is witnessing a shift towards lightweight valves in line with the necessity to curb CO2 emissions and to improve fuel efficiency.
AEROSPACE VALVES MARKET: Drivers & CHALLENGES
Market Driver:
- Rising Air Passenger Fleet
Rise in the manufacturing of aircraft is one of the key drivers for the aerospace valves market. According to the International Air Transport Association, the global aviation industry generated approximately USD 2.7 trillion in 2018. This is attributed to the increasing passenger fleet on the backdrop of a rise in international tourism as well as business trips. Rise in disposable income of the consumers is a vital factor supporting the demand for aircraft manufacturing.
According to the Boeing Market Outlook, the global commercial aviation market is expected to reach USD 16 trillion by 2038, thus rising a requirement for 44,040 new jets and related services. This will result in increased manufacturing of aircraft and aircraft components, which in turn, will drive the global aerospace valves market.
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- Increased Military & Defense Spending Across the Globe
The need for homeland security and anti-terrorism activities results in increased spending on military & defense. With the technological advancements such as military robots and unmanned aerial vehicles, the military & defense industry is expected to improvise. Rising geopolitical issues and heightened tensions between countries poses risks for national security. For instance, recent geopolitical issues between the US and South Korea have resulted in in-house manufacturing for military & defense in the global market.
Figure: GLOBAL MILITARY EXPENDITURE (USD Trillion)
Market Restraint:
- Fluctuating Cost of the Raw Materials
A number of materials such as steel, titanium, aluminum, copper, and others can be used for the manufacturing of valves. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the assessment period. The price fluctuations are attributed to the mining and extraction of the raw materials, which are dependent on geological and geopolitical factors. Additionally, non-metallic materials such as nitrile butadiene rubber, ethylene propylene diene monomer, polyamide, among others are used. These are petroleum-based products, which add up the cost on account of the supply-demand gap of crude oil.
Aerospace Valves market: Key segments
- Segmentation based on valve type: Check, Gate, Plug, Anti-icing, Pressure-Control, Butterfly & Ball, Poppet & Sleeve, Solenoid, Engine Air Control, and Others.
- Segmentation based on material: Metallic and Non-metallic.
- Segmentation based on aircraft type: Commercial, Military, and Business & General.
- Segmentation based on end-users: OEM and MRO.
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Aerospace Valves MARKET: Report SCOPE
The report on the aerospace valves market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features
Specifics
Historical/Estimated/Forecasted Market Size Years
2019–2027
Base Year for Market Calculation
2020
Forecasted Period
2021–2027 (2021 estimated year, forecasted up to 2027)
Measured Units
Value (USD Million)
Segments Included
Valve Type, Material, Aircraft Type, End-users, and Region
Regional Coverage
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY Companies Covered
- Honeywell International Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- PARKER HANNIFIN CORP
- Safran
- Crissair, Inc.
- Eaton
- Valcor Engineering Corporation
- Ram Company
- CIRCOR International, Inc.
- Sitec Aerospace GmbH
- Meggitt PLC
- Moog Inc.
- Porvair Filtration Group
- Other Key Companies
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Aerospace Valves MARKET: report segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aerospace Valves Market, by Valve Type
- Check
- Gate
- Plug
- Anti-icing
- Pressure-Control
- Butterfly & Ball
- Poppet & Sleeve
- Solenoid
- Engine Air Control
- Others
Aerospace Valves Market, by Material
- Metallic
- Aluminum
- Steel
- Titanium
- Copper
- Others
- Non-metallic
- Nitrile Butadiene Rubber
- Ethylene Propylene Diene Monomer
- Polytetrafluoroethylene
- Polyamide
- Others
Aerospace Valves Market, by Aircraft Type
- Commercial
- Military
- Business & General
Aerospace Valves Market, by End User
- OEM
- MRO
Aerospace Valves Market, by Region
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
1 Introduction
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 Global Aerospace Valves Market By Valve Type, Market Size In Usd Million (2019–2027)
7 Global Aerospace Valves Market By Material, Market Size In Usd Million (2019–2027)
8 Global Aerospace Valves Market By Aircraft Type, Market Size In Usd Million (2019–2027)
9 Global Aerospace Valves Market By End User, Market Size In Usd Million (2019–2027)
10 Competitive Landscape
11 Company Profiles
12 Appendix
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