Aircraft Valve Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type (Fuel System Valves, Hydraulic System Valves, Air Conditioning System Valves, Lubrication Systems Valves, and Others), Valve Type (Pilot Valves, Poppet Valves, Flapper-Nozzle Valves, and Others), Aircraft Type (Fixed-Wing and Rotary-Wing), and End User (OEM and MRO)
Publication Month: Nov 2020 | Report Code: TIPAD00002072 | No. of Pages: 191 | Category: Aerospace and Defense | Status: Published
[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)
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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.
Strategic Insights
The 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.
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.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global aircraft valve market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global aircraft seals market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
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