The market is driven by various factors, such as increase in global aircraft fleet size, short replacement cycle of aerospace valves and growing demand for Unmanned Aerial Vehicles. The aerospace valves market includes major players like Eaton Corporation PLC (Ireland), Safran (France), Woodward, Inc.
New York, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Valves Market by Aircraft Type, End Use, Type, Application Material, Region - Forecast to 2026" - https://www.reportlinker.com/p05390340/?utm_source=GNW
(US), Triumph Group (US), and Parker Hannifin Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aerospace valves production and services by 7–10% globally in 2020.
Environment control system: The largest segment of the aerospace valves market, by application. “
Based on application, the environment control segment is expected to be the largest market by value.The growth of the environment control system segment of the aerospace valves market can be attributed to the many sub-systems it comprises of such as air supply, thermal control, cabin pressurization, avionics cooling, smoke detection and fire suppression.
Aerospace valves are also used in other important systems such as pneumatic system, hydraulic system, fuel system. Aerospace valves used in the lubrication system keeps the oil pressure in check, whereas in water and wastewater system, valves allow the flow of potable water to the water distribution system that is then used by passengers and crew onboard.
Butterfly Valves: The highest revenue segment of the aerospace valves market, by type. “
Based on type, the Butterfly Valves segment is projected to be the highest CAGR for the aerospace valves market during the forecast period.The growth of the Butterfly Valves segment of the aerospace valves market can be attributed to the extensive usage in various applications due to their compact size, less space requirements, and ease of use.
These are used commonly in fuel system and pneumatic system of aircrafts.
Stainless-Steel: The highest revenue segment of the aerospace valves market, by material. “
Based on material, the stainless-steel segment is projected to have the highest share of revenue in the aerospace valves market.The extensive use of stainless steel for manufacturing aerospace valves can be attributed to its properties and advantages such as easy availability, low cost, resistance to heat and good strength.
It is used in high applications where there is a higher chance of corrosion, high operating temperature.
Unmanned Aerial Vehicles: The fastest-growing segment of the aerospace valves market, by aircraft type. “
Based on the aircraft type, the fixed wing aircraft segment is projected to have the highest revenue in the aerospace valves market during the forecast period.Fixed wing aircraft segment consists of commercial aviation, business and general aviation and military aviation.
The fixed wing segment consists of the greatest number of aircrafts in terms of absolute numbers.However, the Unmanned Aerial Vehicles segment is projected to have the highest CAGR in the aerospace valves market.
This is due to increasing usage of drones, and other UAVs for applications such as surveillance and last mile delivery. Several start-ups are now focusing on developmental projects such as UAVs, resulting in a higher CAGR of UAVs.
OEM: The fastest-growing segment of the aerospace valves market, by end use. “
Based on the end use, the OEM segment is projected to grow at the highest CAGR for the aerospace valves market during the forecast period.OEMs are responsible for the installation of aerospace valves in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers.
Over the years, there has been a significant rise in the demand for different aircraft types across regions.
North America: The largest contributing region in the aerospace valves market.
North America is projected to be the largest regional share of the aerospace valves market during the forecast period.The key factor responsible for North America, leading the aerospace valves market owing to the presence of large number of aerospace valves manufacturers in the region.
Also, the region has been witnessing a rise in the newer aircrafts getting delivered.In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aerospace valves to increase their sales year on year.
The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as Honeywell International, Triumph Group, Woodward, Inc, Collins Aerospace, Parker Hannifin Corporation, are expected to drive the aerospace valves market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aerospace valves.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type: Tier 1–39%; Tier 2–37%; and Tier 3–24%
• By Designation: C Level–35%; Directors–27%; and Others–38%
• By Region: North America–55%; Europe–27%; Asia Pacific–9%; and Rest of the World–9%
Eaton Corporation PLC (Ireland), Safran (France), Woodward, Inc. (US), Triumph Group (US), and Parker Hannifin Corporation (US) are some of the leading players operating in the aerospace valves market report.
The study covers the aerospace valves market across various segments and subsegments.It aims at estimating the size and growth potential of this market across different segments based on application, type, material, aircraft type, end use, and region.
This study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments undertaken by them, and key market strategies adopted by them.
Reasons to Buy this Report
This report is expected to help market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall Aerospace Valves Market and its segments.This study is also expected to provide region wise information about the end use, and wherein aerospace valves are used.
This report aims at helping the stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. This report is also expected to help them understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
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