"Smart Market Solutions to Help Your Business Gain Edge over Competitors"

Aerospace Valves Market Size, Share & COVID-19 Impact Analysis, By Type (Butterfly Valves, Ball Valves, Rotary Valves, Gate Valves, Other), By Aircraft Type (Commercial Aircraft, General Aviation Aircraft, Business Aircraft, Military Aircraft, Helicopter), By Application (Fuel System, Hydraulic System, Pneumatic System, Lubrication System, Others), By End Use (OEM and Aftermarket) and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI105854

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global aerospace valves market size was USD 10.42 billion in 2020. The market is projected to rise from USD 11.02 billion in 2021 to  USD 14.68 billion by 2028, recording a CAGR of 4.18% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with aerospace valves witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market will exhibit a huge decline of -11.36% in 2020. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.

WE ARE IN THE PROCESS OF REVAMPING Aerospace Valve Market WITH RESPECT TO RUSSIA-UKRAIN CONFLICT

Request Sample

The aerospace valve is an important part of the aviation system as it controls the flow of gases or fluids by opening and shutting a path. Different types of valves are used in an airplane, depending upon application and pressure requirements. The global market has been driven by factors such as a rise in aircraft fleet size, frequent need for replacement of valves, and others.


Manufacturing Facilities Have Faced Exceptional Challenges amid the COVID-19 Pandemic


Lockdown countries such as Germany, U.S., France, Japan, India, and China led to losses in revenue of manufacturing industries as they had to halt the production for many days. Though the manufacturing units were functioning since after May 2020, only 1/3rd of the working staff was present in alternation, which led to rise in order backlog. Moreover, government limitations on travel and trade, along with the reduced demand for air travel led to huge losses in revenue in the aerospace sector. The revenue losses led to the termination of new aircraft orders, thus leading to a decrease in the demand for aerospace valves that are installed in various aircraft systems.


Furthermore, disturbances in supply chains and shortage of raw materials owing to the epidemic also pose a challenge to the aerospace valves market growth.


LATEST TRENDS


Request a Free sample to learn more about this report.


Integration of Internet of Things (IOT) with Aerospace Valves to Bolster Market Outlook


The aviation sector is integrating advanced technologies such as Internet of things (IoT) into valves to enable smarter operations. IoT helps to enhance the efficiency of control valves and cut maintenance costs over the lifecycle of valves. The technology provides numerous benefits to airliners by enabling regular valve health monitoring and downtime prevention through timely fault warnings. The data received from the IoT-powered valves helps make smarter decisions in addition to basic functionality such as opening, closing, and flow modulation. Thus, the integration of IoT into valves could create massive opportunities for manufacturers in the forthcoming years. 


DRIVING FACTORS


Surge in the Acquisition of New Aircraft Triggered by the Increasing Demand for Air Travel to Fuel Growth


Robust economic development and increased travel is leading to rising air passenger traffic.


The growing number of air passengers has widely driven the procurement of new aircraft. Aircraft manufacturing companies have increased their production owing to increased aircraft orders. OEMs such as the Boeing Company and Airbus are anticipating substantial recovery of aerospace sector post-COVID-19 pandemic.


Airbus aims to increase the manufacturing of A320 family of aircraft to 45 aircraft per month by 2021 end. Moreover, the company aims to ramp up production to 64 aircraft per month by June 2023, and 70 aircraft per month by 2024.


The International Air Transport Association (IATA) reports that the number of air travelers could double to hit 8.2 billion by 2037.


The rising demand for air travel has led airline companies to expand their aircraft fleet, which is expected to augment the market growth during the forecast period.


Regular Replacement of Valves Due to the Increased Flight Hours to Fuel Market Growth


Due to rising air travel, aircraft flight hours have increased substantially, leading to wear & tear of valves. The life cycle of valves depends on the number of calendar days and flight hours. The average MTBUR (Mean Time Between Unscheduled Removal) of valves is between 9,000 and 100,000 cycles. Since valves cannot be refurbished, they need to be replaced at the end of their lifecycle. These factors indicate a lucrative opportunity for aerospace OEMs.


RESTRAINING FACTOR


Frequent Alterations in Raw Material Prices Hampers the Market Growth


The volatility in prices of raw materials such as steel, iron, alloys, and others is due to an imbalance in its supply and demand. Thus, the fluctuations in the prices of raw materials are anticipated to restrain the growth of the market.


SEGMENTATION


By Type Analysis


Butterfly Valve Segment to Grow at Faster Rate Owing to its Extensive Use in Fuel and Pneumatic Systems


By type, the aerospace valves market share is divided into butterfly valve, ball valve, rotary valve, gate valve, and others.


The butterfly valves segment is anticipated to grow at higher CAGR through the projection period owing to the extensive usage of butterfly valves in various applications such as fuel systems and pneumatic systems of an aircraft. The ease of use, compact size, and fewer space requirements of butterfly valves is the reason for their higher adoption.


The ball valve segment is anticipated to showcase significant growth in the market owing to its adoption in aircraft turbines to maximize the efficiency of the turbines.


By Aircraft Type Analysis


To know how our report can help streamline your business, Speak to Analyst


Commercial Aircraft Segment to Lead the Market Due to Increasing Number of Aircraft Deliveries


Based on the aircraft type, the market is classified into commercial aircraft, business aircraft, military aircraft, general aviation aircraft, and helicopters.


The commercial aircraft segment is estimated to lead the market by aircraft type owing to the rising number of commercial aircraft deliveries. Airbus delivered 127 commercial jets in the third quarter of 2021.


The military aircraft segment is anticipated to showcase substantial growth through the forecast period owing to the growing spending by the governments of various countries to strengthen their air defense capabilities.


By Application Analysis


Pneumatic System Segment to Witness Highest Growth Owing to Replacement of Hydraulic Systems with Pneumatic Systems


Based on application, the market is segmented into the fuel system, hydraulic system, pneumatic system, lubrication system, and others.


The hydraulic system segment was expected to hold highest market share in 2020. The growth of the segment in the market can be attributed to the extensive use of valves in hydraulic systems in various components of aircraft such as landing gear, brakes, flaps, and others.


The pneumatic system segment is projected to grow at the highest CAGR during 2021-2028. The increasing need for replacing hydraulic systems with pneumatic systems to avoid oil leakage is expected to fuel the segment growth. Moreover, the rising demand to increase the efficiency of aircraft by decreasing fuel consumption is anticipated to aid the growth of the market.


By End-Use Analysis


OEM Segment Expected to Dominate Due to Rising Commercial Aircraft Deliveries


Based on the end-user, the market is bifurcated into OEM and aftermarket.


The OEM segment dominated the market in 2020 and will record the highest CAGR over 2021-2028. Aircraft valves are mainly installed by OEMs during the assembly stage, post which they are delivered to aircraft makers. A notable uptick in aircraft demand across regions is expected to fuel the segment growth.


The aftermarket segment is expected to grow significantly owing to the rise in the retrofit of technologically advanced aerospace valves into conventional aircraft.


In May 2021, Triumph Group was awarded a contract extension by the Boeing Company to supply critical system components for the 787 Dreamliner. The contract focuses on the provision of a high-valve system, geared solution, and MRO


REGIONAL INSIGHTS


North America Aerospace Valves Market Size, 2020 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The global market is segmented, based on region, into North America, Europe, Asia Pacific, and the Rest of the World.


North America is anticipated to hold the largest market share in the global aerospace valve market during the projection period owing to the presence of a large aircraft fleet in the U.S. The market in North America stood at USD 4.07 billion in 2020. Moreover, the existence of dominant aircraft producers such as the Boeing Company and others, along with the presence of key market players such as Moog, Inc., Triumph Group, Parker Hannifin Corp., and others drives the growth of market in North America.


In Asia Pacific (APAC), the market is predicted to showcase exceptional growth through the projection period. The growth is attributed to the growing funding in the aviation industry by emerging countries such as China, Japan, India, and others. The rising orders of new aircraft to increase fleets to meet the rising air passenger traffic is predicted to augment the growth of the market in APAC.


The market in Europe is expected grow significantly owing to the increase in demand for modernization of aircraft fleet, rise in travel and tourism, and advanced technology. Moreover, countries such as France, Russia, and Germany have large aircraft fleets which are expected to support the market growth.


In rest of the world, the aerospace valve market is expected to witness a moderate growth owing to the rise in travel and business opportunities, new aircraft purchase plans in countries such as Israel, Saudi Arabia, Turkey, and others.


KEY INDUSTRY PLAYERS


Key Players Are Investing in New Technologies such as Internet of Things (IoT) to Improve Valve Operations and Decision Making


Major players are dedicated to introduce innovative technologies such as IoT, Augmented Reality, and others to increase efficiency of the valve, thus increasing efficiency of the aircraft. Manufacturers are implementing growth strategies such as partnerships, mergers, and acquisitions with aircraft OEMs.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS



  • June 2021 – Triumph group was awarded a contract by Lockheed Martin Corporation to provide its hydraulic utility actuation valves (HUAVs) to support F-35 fleet readiness at Marine Corps Air Station (MCAS) Cherry Point.

  • May 2021 – Valcor Engineering Corporation launched a Modulating Control Valves (MCV) which can perform flow control in systems such as pneumatic, avionics cooling systems, and hydraulic systems. These valves can also be used for controlling aviation fuel flow and Polyalphaolefin (PAO) control


REPORT COVERAGE


An Infographic Representation of Aerospace Valve Market

To get information on various segments, share your queries with us



The global aerospace valves market report provides a detailed analysis of the market and focuses on key aspects, such as key players, valve types, Aircraft Types, and application of aerospace valves in an aircraft. Moreover, the research report offers insights on market trends, competitive landscape, market competition, product pricing, market status, and highlights key industry developments. In addition to the factors mentioned above, the market report encompasses several direct and indirect factors that have contributed to the sizing of the global market over recent years.


Report Scope & Segmentation




















































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



Type; Aircraft Type; Application, End Use, and Geography



By Type



  • Butterfly Valve

  • Ball Valve

  • Rotary Valve

  • Gate Valve

  • Others



By Aircraft Type



  • Commercial Aircraft

  • General Aviation Aircraft

  • Business Aircraft

  • Military Aircraft

  • Helicopters



 



By Application



  • Fuel System

  • Hydraulic System

  • Pneumatic System

  • Lubrication System

  • Others



 



By End-Use



  • OEM

  • Aftermarket



By Geography


 




  • North America (By Type, Aircraft Type, Application, End-Use, and Country)

    •  U.S.  (Aircraft Type)

    • Canada (Aircraft Type)



  • Europe (By Type, Aircraft Type, Application, End-Use and Country)

    •  U.K. (Aircraft Type)

    • Germany (Aircraft Type)

    • France (Aircraft Type)

    • Rest of Europe (Aircraft Type)



  • Asia Pacific (By Type, Aircraft Type, Application, End-Use and Country)

    • China (Aircraft Type)

    • India (Aircraft Type)

    • Japan (Aircraft Type)

    • Rest of Asia Pacific (Aircraft Type)



  • Rest of the World (By Type, Aircraft Type, Application, End-Use and Sub-Region)

    • The Middle East & Africa (Aircraft Type)

    • Latin America (Aircraft Type)





Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 10.42 billion in 2020 and is projected to reach USD 14.68 billion by 2028.

Registering a CAGR of 4.18%, the market will exhibit moderate growth in the forecast period (2021-2028).

The commercial aircraft segment is expected to be the leading segment in this market during the forecast period.

Eaton Corporation Plc is the leading player in the global market.

North America dominated the market in terms of share in 2020.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Feb, 2022
  • 2020
  • 2017-2019
  • 200

    CHOOSE LICENSE TYPE

  • $4850
    $5850
    $7850
    Buy Now

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X