Global Aircraft Pump Market: Key Highlights
Global Aircraft Pump Market: Key Market Dynamics
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Global Aircraft Pump Market: Regional Overview
The aircraft pump market in the North America region is projected to witness high demand due to the high production of aircraft in the region.
In 2018, the aerospace and defense exports of the country were USD 151 billion, was increase by 5.81% as compared to 2017. Also, the US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018. Moreover, extensive R&D spending in the aerospace & defense industry is likely to propel the demand for aerospace valves in the coming years.
With the increase growth of the aerospace & defense industry in Europe, the demand for aerospace valves is expected to boost. The region has also invested USD 21.76 billion in aerospace & defense R&D. 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 Aircraft Pump Market: Key Players Overview
Honeywell International Inc. is a multinational company which mainly operate in building technologies, aerospace, performance material and productivity solution. The Honeywell process solution is function as pioneer in automation control and serving industrial manufactures process globally. In January 2018, the company entered 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.
PARKER HANNIFIN CORP is an American corporation specializing in control technologies and motion. The company experience and innovation for commercial and military aircraft and support the world aircraft and aero aircraft manufacturers. The company designed and manufacture the engine driven pump product line. In 2017, the Parker aerospace which is business segment of Parker Hannifin Corporation announced to supply the fly-by-wire flight control actuation system for its MA700 turboprop regional aircraft.
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