30 October 2020
Aerospace Valves Market Report : Forecasts by Product type (Hydraulic System Valves, Fuel System Valves, Air Conditioning System Valves, Pneumatic System Valves, Ice and Rain Protection System Valves, Water and Waste System Valves, Lubrication System Valves), by Mechanism (Poppet Valves, Pilot Operated Valves, Flapper-Nozzle Valves, Ball And Plug Valves), by Material (Aluminum, Steel, Titanium), by Aviation (Solid Commercial Aviation, Military Aviation, Business Aviation), by Platform (Big Fixed Wing, Rotary Wing) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
Global Aerospace Valves market was valued at US$ xx billion in 2021 and is projected to reach at a market value of US$ xx billion by 2031. The growth of this market can be attributed to the strong growth of the commercial aviation market, short replacement period of aerospace valves, and the demand for lightweight aircraft components. With the growing air passenger traffic across the globe in the past decade, it is evident that there will be an increase in the number of aircraft deliveries. According to Airbus monthly review of May 2020, the company’s gross orders as of 31st May were totaled to be 365 aircraft and net orders stood at 299 aircraft. In addition to this, Boeing has increased its monthly Dreamliner production rate to 14 aircraft during 2019 and delivered over 158 B787s in 2019. Hence, in the upcoming years, it is anticipated that the growth in commercial aviation will contribute to the growth of aerospace valves market.
Commercial aircraft components are subjected to various checks for repair and replacement. The replacement cycle for aerospace valves is not more than 3 to 4 years as these valves cannot be repaired nor refurbished. Due to these aircraft’s components short lifecycle along with increased flight hours of aircraft, it is expected that the demand for aerospace valves from retrofit market will grow during the forecast period, 2021-2031.The aviation industry is highly focused on developing new materials with reduced weight, enhanced application specific performance and reduced cost in order to reduce the weight of the aircraft and lower fuel consumption. Increasing demand for lightweight components is expected attribute to the growth of aerospace valves market.
COVID-19 Impact on Aerospace Valves Market
The aviation industry has witnessed a strong growth in the past decade and is expected to double in the next 20 years. However, due to the outbreak of the coronavirus, most of the industry vertical which include the aviation industry is highly impacted. The global air traffic has declined significantly, hence reducing airline revenues. With such circumstances, the commercial airline industry is expected to negatively impact new aircraft orders or may lead to cancellation of existing orders. The reduced demand for materials and components will mostly affect the OEMs, as well as create a huge impact throughout the supply chain.
The aviation industry is a highly competitive market with key players focusing on developing and advancing their technologies. Some of the companies profiled in the report include Parker Hannifin, Woodward, Eaton, Triumph Group, Moog, Zodiac Aerospace, Liebherr, United Technologies, Meggitt, and Crane Aerospace.
• In January 2020, Woodward entered into a merger with Hexcel, a composites manufacturing company. The merger is an all-stock transaction that would generate a USD 6.4 billion integrated systems provider to the aerospace and defense sectors. The combined company will be called Woodward Hexcel and headquartered in Fort Collins, Colorado.
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