Wilmington, Delaware, United States, May 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - According to the aerospace valves market report by TMR, the global industry was worth US$ 3.4 Bn in 2022 and is expected to reach US$ 5.2 Bn during the forecast period 2023-2031.
Aerospace valves are used in spacecraft, aircraft, and other aerospace applications. Application of these valves is important, as they control the flow of various gases and fluids such as air, and hydraulic fluid throughout the aerospace systems. This helps in minimizing the risks of gas leakage. Aerospace valves are used in various applications such as pneumatic systems, fuel systems, coolant systems, and water & wastewater systems. Wide usage of these valves in various applications due to their efficiency to operate in extreme conditions of high altitude and space has led to significant market development.
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| Report Coverage | Details | |
| Market Revenue | US$ 3.4 Bn | |
| Estimated Value | US$ 5.2 Bn | |
| Growth Rate - CAGR | 4.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 221 Pages | |
| Market Segmentation | Type, Material, Aircraft Type, Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | CACPL Aerospace, CIRCOR International, Inc., Eaton, Honeywell International Inc., Hy-Lok USA, Inc, ITT Aerospace Controls, JARECKI Valves, Magnet-Schultz GmbH & Co. KG, Nutek Aerospace, PARKER HANNIFIN CORP, Sitec Aerospace GmbH, Spectrum Valves, The Lee Company, Valcor Engineering Corporation | |
Aerospace Valves Market: Growth Drivers
- A well-equipped and strong defense mechanism is the backbone of every country. Application of aerospace valves in the smooth running of military aircraft and their ability to ensure efficient and safe flights have increased their demand in the military aviation sector.
- Modernization of aircraft has led to major changes in the structure of aircraft, making them more advanced. The military aviation sector has played a vital role in driving the market demand for aerospace valves.
- Next-gen technologies and designs are being integrated to help aircrafts withstand extreme conditions, and fly at high altitudes. Furthermore, the features such as efficient switch and control of the pressure levels has created substantial growth opportunities for the global business.
- Increase in end-use applications of aerospace valves in military and civil aviation sector has opened new growth avenues for the global market. Furthermore, expansion in OEM and aftermarket services is likely to create lucrative opportunities for the aerospace valves market.
Key Findings of Aerospace Valves Market Report
- The butterfly valves type segment is estimated to witness lucrative business growth due to the characteristics of these valves such as light weight, compact size, and ease of use. These valves are used in aircraft fuel systems and can work efficiently in high temperatures and pressure. Additionally, they are less prone to wear and tear and need low maintenance.
- The hydraulic systems application segment is anticipated to experience substantial growth in the near future due to the rise in usage of these systems in flight control surfaces, land gear actuation, and reversal of thrust. These systems ensure reliability, safety, and efficiency standards, which may prove to be growth drivers for the global market.
- Rise in demand for unmanned aerial vehicles, also termed drones, in mapping, inspection, delivery, and surveillance systems has created lucrative growth prospects for the aerospace valves market. Technological advancements have led to the sophistication of drones and pressing need to control the flow and pressure of gases and fluids. Therefore, the unmanned aerial vehicles aircraft type segment is estimated to witness significant growth in the next few years.
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Aerospace Valves Market: Regional Dynamics
Countries across the globe are strengthening their military base by deploying well-equipped and well-maintained aircraft and helicopters. This has been a prominent growth driver of the aerospace valve market. The market in North America is projected to witness significant growth owing to the presence of leading players and increase in government funding for the development of the aerospace sector in the region.
Asia Pacific is estimated to follow North America in terms of growth trajectory. Countries such as India and China have proved to be growth accelerators for the global market owing to the rising demand for luxurious air travel. Development of new technologies and presence of key manufacturers are likely to propel the global aerospace valves market in the region.
Aerospace Valves Market: Competitive Landscape
Leading market players are focusing on research and development activities and introduction of novel products with efficacy and proficiency in the aerospace sector. New product launches and promotional activities have created product awareness among consumers. Furthermore, strategic planning for market expansion and collaborations, mergers, acquisitions, and partnerships have opened new growth avenues for the aerospace valves market. The efforts to achieve net-zero emission goals have led to the development of sustainable valves, thereby boosting market size.
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Key players operating in the global market are:
- PARKER HANNIFIN CORP
- Honeywell International Inc
- CACPL Aerospace
- JARECKI Valves
- Spectrum Valves
- Valcor Engineering Corporation
- CIRCOR International Inc
- Nutek Aerospace
- The Lee Company
- Hy-Lok USA, Inc
- Eaton
Aerospace Valves Market: Segmentation
Type
- Ball Valves
- Butterfly Valves
- Emergency Inflation Valves
- Shut-off Valves
- Check/Non-return Valves
- Flow Control Valves
- Relief Valves
- Solenoid Valves
- Heater Valves
- Others (Isolation, Valves, Drain, Valves, etc.)
Material
- Stainless Steel
- Aluminum
- Titanium
- Others (Carbon Steel, Brass, etc.)
Aircraft Type
- Fixed Wing
- Rotary Wing
- Unmanned Aerial Vehicles
Application
- Fuel Systems
- Pneumatic Systems
- Hydraulic Systems
- Coolant Systems
- Water & Wastewater Systems
- Others (Inflation, Environmental Control System, etc.)
End-use
- Civil Aviation
- OEM
- Aftermarket
- Military Aviation
- OEM
- Aftermarket
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