Aerospace Valves Market

Aerospace Valves Market Research, 2032

Aerospace Valves Market size was USD 11.65 billion in 2021 and projected to grow from USD 12.7 billion in 2023 to USD 19.3 billion by 2032, exhibiting a CAGR of 4.7% during the forecast period.

Aerospace valve is a specialized device used in aircraft systems which aids in fluid control of hydraulic fluids, fuel, air, and gases by partially obstructing, closing, or opening the passageways. These aerospace valves play a vital role in organizing proper operation and safety in different aircraft systems as it controls the flow of gases or fluids. Valves are usually classified based on various categories. Aerospace valves play a vital role in hydraulic action points, which are crucial in aircraft operation.

Market Highlights

Aerospace Valves Market is expected to project a CAGR of 4.7% during the forecast period, 2022- 2032

Aerospace Valves Market is expected to reach USD 19.3 billion, growing at a CAGR of 4.7% during forecast period owing to increased air travel, growing expenditure on defense, widening of commercial aviation and introduction of new technologies related to aerospace which are expected to boost the market growth. Aerospace valves aid in enhancing the efficiency of fuel by reducing pressure drops, optimizing fluid flow, and upgrading the performance of system.

Aerospace Valves Market Segmentation

Pneumatic System segment is expected to grow with high CAGR during the forecast period

Aerospace Valves Market is classified based on the System into Application into Fuel System, Air-Conditioning systems, Hydraulic System, Lubrication System, Pneumatic System, Ice & Rain Protection Systems, Others. Pneumatic system segment is expected to dominate the market in the forecast period owing to the rising necessity of replacing hydraulic systems with pneumatic systems to prevent leakage of oil. The light weight property of these systems which aids in reduction of payload capacity, fuel efficiency, and overall performance is expected to boost the growth of the segment in the market.

Butterfly Valves segment is expected to grow with high CAGR during the forecast period

Aerospace Valves Market is classified based on the Type into Pressure Control Valves, Butterfly Valves, Gate Valves, Ball Valves, Rotary Valves, Relief Valves, Solenoid Valves, Other. The butterfly valves segment is expected to dominate the market in the forecast period owing to the wide usage of these valves in several applications of an aircraft. The compact size, ease of use, and minimal space requirements of these valves is expected to boost the growth of the segment during the forecast period.

Market Dynamics

Growth Drivers

Growing Demand for Air Travel is Expected to Boost the Growth of the Market

The increasing preference of air travel along with the strong economic development is expected to boost the market growth. This increasing passenger count is expected to procure new aircrafts which increases the necessity of valves thereby resulting in creating demand for the growth of the Aerospace Valves market. Key market players are focusing on increasing the manufacturing capability to meet the rising aircraft orders and this increased demand for air travel has resulted in companies to expand their aircraft fleet and it is expected to boost the growth of the Aerospace Valves market growth during the forecast period.

Frequent Valve Replacements is Expected to Boost the Growth of the Market

The traveling through air had increased resulting in increased aircraft flight hours and frequent wear & tear of valves. The average life cycle of valves relies on the number of flight hours & calendar days and the average Mean Time Between Unscheduled Removal of valves is around 100,000 cycles. This increases the necessity of replacing the valves at regular intervals towards the end of their life cycle as they cannot be repaired. This may boost the growth of Aerospace Valves market during the forecast period.

Restraint

Fluctuating Prices of Raw Materials May Restrain the Growth of the Market

The irregularity of raw material prices & price fluctuations of iron, steel etc. owing to improper supply and demand are expected to restrain the Aerospace Valves market growth.

Recent Developments

• In June 2021, Lockheed Martin Corporation granted a contract to Triumph group to supply hydraulic utility actuation valves for aiding F-35 fleet readiness at Marine Corps Air Station Cherry Point.
• In May 2021, Valcor Engineering Corporation initiated a Modulating Control Valves which have the capability to execute flow control in pneumatic systems, hydraulic systems, avionics cooling systems.

Key Players Covered:

• AeroControlex
• Triumph Group
• Moog Inc. 
• Safran SE
• Meggitt
• ITT Aerospace Controls
• Eaton Corporation PLC 
• Parker Hannifin Corporation
• Crane Aerospace & Electronics
• Circor International, Inc
• Porvair
• Precision Fluid Controls, Inc.
• Woodward Inc.
• Crissair Inc.
• Sitec Aerospace GmbH
• Liebherr 
• Other Prominent Players ( Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis )

Regional Analysis

Aerospace Valves Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021 owing to the availability of large aircraft fleet and presence of key market players in countries of this region which led to the market growth. Asia Pacific region is expected to dominate the market over the forecast period owing to the increasing funding in the aviation industry and growing fleets which aid in market growth.

Impact of Covid-19 on Aerospace Valves Market

The COVID-19 outbreak had resulted in the economic downfall. The pandemic resulted in a reduced demand for air travel due to the imposition of travel restrictions. Pandemic resulted in reduction of commercial airline movements thereby having low rate of aircraft production and low demand for aerospace valves. The focus on cost optimization had increased after the pandemic period, due to the focus on reducing fuel consumption & enhancing aircraft performance which may require usage of certain types of aerospace valves. Covid-19 had a negative impact on the growth of Aerospace Valves Market.

Aerospace Valves Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Aerospace Valves Market Scope and Segments:

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