The Global Aerospace Valves Market is projected to reach a value of over USD 6 billion by 2027 at a CAGR of around 5.4%.
Aerospace valves are devices used for direction, regulation, and control of flowing fluid such as gases, liquids, and slurries. This is employed by the closing, opening, and partial obstruction of the pathways wherein these fluids flow. These valves enable transferring of fluids to various aircraft components, thereby helping the aircraft to perform better.
The global aerospace valves market is witnessing a shift towards lightweight valves in line with the necessity to curb CO2 emissions and to improve fuel efficiency.
Market Driver:
Rise in the manufacturing of aircraft is one of the key drivers for the aerospace valves market. According to the International Air Transport Association, the global aviation industry generated approximately USD 2.7 trillion in 2018. This is attributed to the increasing passenger fleet on the backdrop of a rise in international tourism as well as business trips. Rise in disposable income of the consumers is a vital factor supporting the demand for aircraft manufacturing.
According to the Boeing Market Outlook, the global commercial aviation market is expected to reach USD 16 trillion by 2038, thus rising a requirement for 44,040 new jets and related services. This will result in increased manufacturing of aircraft and aircraft components, which in turn, will drive the global aerospace valves market.
The need for homeland security and anti-terrorism activities results in increased spending on military & defense. With the technological advancements such as military robots and unmanned aerial vehicles, the military & defense industry is expected to improvise. Rising geopolitical issues and heightened tensions between countries poses risks for national security. For instance, recent geopolitical issues between the US and South Korea have resulted in in-house manufacturing for military & defense in the global market.
Market Restraint:
A number of materials such as steel, titanium, aluminum, copper, and others can be used for the manufacturing of valves. Volatility in the prices of these materials is a major factor likely to hamper the market growth during the assessment period. The price fluctuations are attributed to the mining and extraction of the raw materials, which are dependent on geological and geopolitical factors. Additionally, non-metallic materials such as nitrile butadiene rubber, ethylene propylene diene monomer, polyamide, among others are used. These are petroleum-based products, which add up the cost on account of the supply-demand gap of crude oil.
The report on the aerospace valves market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
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Report Features |
Specifics |
|---|---|
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Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
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Base Year for Market Calculation |
2020 |
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Forecasted Period |
2021-2027 (2021 estimated year, forecasted up to 2027) |
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Measured Units |
Value (USD Million) |
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Segments Included |
Valve Type, Material, Aircraft Type, End-users, and Region |
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Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Aerospace Valves Market, by Valve Type
Aerospace Valves Market, by Material
Aerospace Valves Market, by Aircraft Type
Aerospace Valves Market, by End User
Aerospace Valves Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AEROSPACE VALVES MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY
