Aerospace Valves Market To Reach USD 6 Billion By 2027

Global Aerospace Valves Market: Key Highlights

According to the new market research report “Aerospace Valves Market by Valve Type (Check, Gate, Plug, Pressure-Control), by Material (Metallic, Non-metallic), by Aircraft Type (Commercial, Military), by End-User (OEM, MRO), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global aerospace valves market is estimated to reach USD 6 Billion by 2027 at a CAGR of around 5.4% during the review period.
Rising number of passenger fleet on the backdrop of international tourism and business trips is a key factor driving the demand for aircraft manufacturing
According to the Federal Aviation Administration (FAA), more than 77,000 components and equipment operate rigorously in the aerospace industry. This is expected to result in high demand for valves in MRO for the proper functioning of aircraft during long flight hours.
However, fluctuations in raw material prices remain a major restraining factor for the growth of the aerospace valves market

Aerospace Valves Market

Global Aerospace Valves Market: Key Market Dynamics

Increased international tourism and business trips due to the high disposable income of the consumers resulting in high passenger fleet.
According to the US Department of Transportation, Bureau of Transportation Statistics, the number of passengers flown by air carriers increased by 4.8%, thus reaching 1 billion in 2018.
Volatility in raw material prices remains a major threat to the market growth
Inclination towards the use of lightweight materials for valve production is a megatrend followed in the market
With the upcoming mega-events such as EXPO 2020 and FIFA World Cup 2022, air travel is expected to increase. This is projected to fuel the demand for aerospace valves in OEM as well as MRO.

Global Aerospace Valves Market: Regional Overview

North America

The aerospace valves market in the North American region is projected to witness high demand due to the high production of aircraft in the region.

The US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018. In the same year, the aerospace and defense exports of the country were USD 151 billion, which was an increase of 5.81% as compared to 2017. Moreover, extensive R&D spending in the aerospace & defense industry is likely to propel the demand for aerospace valves in the coming years.

Europe

Owing to the rapid growth of the aerospace & defense industry in Europe, the demand for aerospace valves is expected to increase. According to the Aerospace & Defense Industries Association of Europe, the total turnover stood at USD 281.67 billion in 2018. The country invested USD 21.76 billion in aerospace & defense R&D.

Global Aerospace Valves Market: Key Players Overview

Honeywell International Inc.:

Honeywell International Inc. is a US-based company engaged in the invention and commercialization of technologies for overcoming the challenges across energy, safety, security, productivity, and global urbanization. It operates through major business segments, i.e., aerospace, Honeywell building technologies, performance materials and technologies, and safety and productivity solutions. In January 2018, the company came into agreement with a metal additive manufacturing company, Sintavia, to manufacture aerospace components. These components include gas turbine auxiliary power units (APUs), turboshaft engines, turbofan engines, and engine control valves, among others.

Eaton:

Eaton is a diversified power management company, which provides energy-efficient solutions for electrical, hydraulic, and mechanical power. It operates through the following segments: electrical products, electrical systems and services, hydraulics, aerospace, vehicle, and eMobility. The company has a global reach with its services in around 175 countries. In June 2019, the company announced the use of additive manufacturing to supply the aluminum housing and valve for the ram air valve assembly on Aerospace Industrial Development Corporation’s advanced jet trainer.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

Contact Us:

FORENCIS RESEARCH

USA
Aurora
CO 80014

Phone: +1 (720) 306 9020

Email: sales@forencisresearch.com

Website: https://www.forencisresearch.com/