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[Research Report] The aircraft valve market was valued at US$ 4192.4 million in 2019 and is projected to reach US$ 6084.9 million by 2027; it is expected to grow at a CAGR of 6.2% during 2020–2027.
The global aircraft manufacturing and aftermarket industry is experiencing substantial growth due to increasing demand of commercial and cargo aircraft worldwide. The rising disposable incomes in developing countries and increasing trend of e-commerce are among the key factors driving the demand for these aircraft. The exponentially increasing trend of air travel is constantly is leading to the increased production of aircraft by manufacturers such as Airbus and Boeing. Commercial airplanes are anticipated to maintain a continuous growth over the coming years, regardless of various challenges faced by the commercial airlines, including uncertain fuel prices and other regulatory changes in various countries. Aircraft valves are a critical component used in various types of aircraft, such as wide-body aircraft, narrow-body, and general aviation. The high durability and strength of these lightweight components make them ideal for aerospace applications.
Impact of COVID-19 Pandemic on Aircraft Valve Market
The COVID-19 pandemic has been creating challenges for medical institutions, healthcare institutes, manufacturing units, commercial office premises, shopping complexes, and airports worldwide. According to the latest situation report from the World Health Organization (WHO), the US, Brazil, India, Russia, South Africa, Spain, the UK, Germany, and France are among the worst-affected countries due to the outbreak, which was first reported in Wuhan, China, in December 2019. As per the WHO figures on November 9, 2020, ~19.46 million COVID-19 cases have been diagnosed and ~722,285 deaths have been reported across the world. The COVID-19 crisis is affecting the industries worldwide, and the global economy has taken the worst hit in 2020. As the regions such as North America, Europe and APAC comprise a larger density of aircraft manufacturers and component manufacturers, the outbreak has severely affected their production. The lower strength of manufacturing staff and temporary suspension of production facilities have resulted in lesser production quantity. Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production. In addition to Boeing, other aircraft OEMs such as Bombardier, Textron, and Gulfstream have also experienced the adverse impact of the COVID-19 outbreak. The restrictions on workforce employment, disruption in supply chain, and limited volumes of orders have been limiting the global aircraft valve market growth.
Lucrative Regions in Aircraft Valve Market
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Market Insights–Aircraft Valve Market
Growing Popularity of Low Cost Carrier, and Narrow-Body and Wide-Body Aircraft Fuels Market Growth
Increasing number of airports across geographies due to favorable government policies is anticipated to push the infrastructure development and bring market liberalization in the aviation sector. . The demand for low-cost travel is especially high across developing regions, such as APAC and Africa, which, in turn, is driving their demands for low-cost carriers and ultralow-cost carriers. In the global aviation sector, the low-cost carrier models are flourishing at an impressive rate. With the entry of new players in the aviation market, the competition has increased multifold, and fares have dropped drastically. In Europe, a few of the most prominent airlines are establishing their low-cost subsidiaries to compete with the existing LCCs in this region. The rising demand for aircraft by LCCs drives the demand for aircraft valves that help control the overall operations of aircraft during flight.
Product Type-Based Insights
On the basis of product type, the aircraft valve market is segmented into fuel system valves, hydraulic system valves, air conditioning system valves, lubrication systems valves, and others. The market for lubrication system valves is projected to grow at the highest CAGR during the forecast period.
Aircraft Valve Market, by Product Type (% Share)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Valve Type-Based Insights
The aircraft valve market, based on valve type, is segmented into pilot valves, poppet valves, flapper-nozzle valves, and others. The poppet valves segment led the aircraft valve market in 2019.
Aircraft Type-Based Insights
On the basis of aircraft type, the aircraft valve market is bifurcated into fixed-wing and rotary-wing; the fixed-wing segment led the market in 2019.
End User-Based Insights
The aircraft valve market, based on end user, is further segmented into OEM and MRO, wherein the OEM segment led the market in 2019.
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Aircraft Valve Market: Strategic Insights
Market Size Value in US$ 4192.4 Million in 2019 Market Size Value by US$ 6084.9 Million by 2027 Growth rate CAGR of 6.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aircraft Valve Market: Strategic Insights
Market Size Value in | US$ 4192.4 Million in 2019 |
Market Size Value by | US$ 6084.9 Million by 2027 |
Growth rate | CAGR of 6.2% from 2020-2027 |
Forecast Period | 2020-2027 |
Base Year | 2020 |
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Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to AnalystThe aircraft valve market players are mainly focusing on the development of advanced and efficient products.
- In 2020, Collins Aerospace Systems, a Raytheon Technologies Corporation Company, opened a new 140,000 ft2 manufacturing facility in Jacksonville, US.
- In 2020, Honeywell International Inc announced an agreement to collaborate with top MRO service provider—ST Engineering. This collaboration would help it expand its reach, followed by providing customers with dedicated MRO services.
The global aircraft valve market has been segmented as follows:
Aircraft Valve Market – by Product Type
- Fuel System Valves
- Hydraulic System Valves
- Air Conditioning System Valves
- Lubrication System Valves
- Others
Aircraft Valve Market – by Valve Type
- Poppet Valves
- Pilot Valves
- Flapper-Nozzle Valves
- Others
Aircraft Valve Market – by Aircraft Type
- Fixed-Wing
- Rotary-Wing
Aircraft Valve Market – by End User
- OEM
- MRO
Aircraft Valve Market –by Geography
North America
- US
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Aircraft Valve Market – Company Profiles
- Collins Aerospace
- Crissair, Inc.
- Eaton Corporation plc
- Honeywell International Inc.
- ITT Inc.
- Meggitt PLC
- Moog Inc.
- Parker Hannifin Corporation
- Safran S.A
- Triumph Group, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type , Valve Type , Aircraft Type , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The List of Companies - Aircraft Valve Market
- Collins Aerospace, a Raytheon Technologies Corporation Company
- Crissair, Inc.
- Eaton Corporation plc
- Honeywell International Inc.
- ITT Inc.
- Meggitt PLC
- Moog Inc.
- Parker Hannifin Corporation
- Safran S.A
- Triumph Group, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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