According to the report published by Zion Market Research, global demand for aerospace valves market was valued at approximately USD 5.2 Billion in 2019, and is expected to generate revenue of around USD 7.8 Billion by end of 2026, growing at a CAGR of around 5.2% between 2020 and 2026.
Global Aerospace Valves Market: Overview
In the past few years, the number of commercial flights and passenger traffic has increased tremendously. Aerospace valves are non-repairable in nature and need replacement every 3 to 4 years. These valves are vital as they ensure enhanced aircraft performance. The demand and popularity of the aerospace valves market on a global scale can be attributed to the shorter replacement cycles related to aerospace valves and an increase in the number of aircraft orders.
Global Aerospace Valves Market: Growth Factors
The major growth driver in the global aerospace valves market is the rising number of aircraft orders. Shorter aerospace valves replacement cycles is another key factor likely to drive this market over the forecast time period. Increasing demand for lightweight valves by most airlines and rising passenger traffic, the rise in aircraft deliveries are likely to fuel the expansion of the aerospace valves market across the world in the upcoming years. Aircrafts need maximum valves that utilize the ball and plug mechanism for ensuring fluid discharge in the system for continuous fluid flowing operations. Thus, the ball and plug valves are anticipated to dominate the market for aerospace valves in the upcoming period. Alternatively, these valves need regular replacements.
However, the current backlogs related to aircraft deliveries, due to insufficient manufacturing capacities of renowned aircraft manufacturing companies, might limit the aerospace valves market on a global scale over the estimated time period.
Global Aerospace Valves Market: Segmentation
The global aerospace valves market is classified into valves, end-user, material, mechanism, and aviation. By valves, this market includes aerospace water and waste system valves, aerospace lubrication systems valves, aerospace pneumatic system valves, aerospace ice and rain system valves, aerospace air conditioning system valves, aerospace hydraulic system valves, and aerospace fuel system valves. Based on end-user, the market is bifurcated into original equipment manufacturer and aftermarket. On the basis of material, the aerospace valves market is segmented into titanium, aluminium, corrosion resistant steel, and others. The mechanism segment of this global market comprises ball and plug valves, flapper-nozzle valves, pilot valves, poppet valves, and others. Business and general aviation, military aviation, and commercial aviation comprise the aviation segment of this market.
Global Aerospace Valves Market: Regional Analysis
The global aerospace valves market is classified into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. In 2017, the North American aerospace valves market dominated globally. This was due to the rise in the number of commercial aircraft orders and the increase in the demand for MRO services. The Asia Pacific region is likely to register the fastest rate of growth in the aerospace valves market over the estimated time period. This can be attributed to the growing passenger traffic and the rising number of flight hours. Growing disposable income of people in developing economies, such as China and India, contributes to the increased passenger traffic.
Global Aerospace Valves Market: Competitive Players
Some of the most important market players in the global aerospace valves market include Zodiac Aerospace, Crane Aerospace, Eaton, Honeywell, Moog, Liebherr, Parker Hannifin, ITT Aerospace Controls, Porvair, Crissair, Circor International, Dynex/Rivett, Meggitt, Lakshmi Technology and Engineering, Woodward, Valcor Engineering, United Technologies, Triumph Group, Sitec Aerospace, Precision Fluid Controls, Marotta Controls, Ram Company, Nutek Aerospace Corporation, and AeroControlex, among others.
Global Aerospace Valves Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The major growth driver in the global aerospace valves market is the rising number of aircraft orders. Shorter aerospace valves replacement cycles is another key factor likely to drive this market over the forecast time period.
According to Zion Market Research, global demand for aerospace valves market is expected to generate revenue of around USD 7.8 Million by end of 2026, growing at a CAGR of around 5.2% between 2020 and 2026.
The Asia Pacific region is likely to register the fastest rate of growth in the aerospace valves market over the estimated time period. This can be attributed to the growing passenger traffic and the rising number of flight hours.
Some main participants of the aerospace valves market are Zodiac Aerospace, Crane Aerospace, Eaton, Honeywell, Moog, Liebherr, Parker Hannifin, ITT Aerospace Controls, Porvair, Crissair, Circor International, Dynex/Rivett, Meggitt, Lakshmi Technology and Engineering, Woodward, Valcor Engineering, United Technologies, Triumph Group, Sitec Aerospace, Precision Fluid Controls, Marotta Controls, Ram Company, Nutek Aerospace Corporation, and AeroControlex, among others.
