One of the major trends in the aircraft valve market includes the demand generated from MRO operations due to the rise in the number of aircraft operations globally. In addition, the rise in several old-aged aircraft fleets that require regular maintenance is another major factor likely to drive the market for aircraft valves market from 2023 to 2031.
The aerospace and defense industry across the globe encompasses several numbers of well-established aircraft original equipment manufacturers (OEMs) accounting substantially large market share in the respective aircraft market. Since there is the availability of a large number of aircraft valve manufacturers in the market, small as well as big brands, the aircraft manufacturers have a substantial bargaining power to procure aircraft valves with high quality at a competitive price. As a result, the bargaining power of buyers in the aircraft valve market is inclined towards buyers due to their functional requirements and the presence of a substantial number of suppliers. Moreover, the bargaining power of the buyers is expected to remain high during the forecast period owing to the development of OEM components and aircraft components.
Increasing procurement of new aircraft and rising demand for MRO services by end users in both commercial and military sectors are expected to drive the market demand of aircraft valves in the coming years. Several aircraft valve manufacturers are focusing on the procurement of components from raw material suppliers and supplying the assembling valves in a system to aircraft OEMs and MROs. Aircraft OEMs include companies such as Boeing, Airbus, and Universal Helicopters, which further integrate these aircraft valves in their aircrafts and supply them to both commercial and military end-users. MROs such as AAR Corporation and Lufthansa Technik offer various maintenance, repair & overhaul services to these end users. The growth of the aircraft valve market is due to some of the below key factors:
The constantly rising number of aircraft deliveries is one of the major factors driving the growth of the aircraft valves market globally. For instance, two of the major aircraft giants i.e., Boeing and Airbus delivered around 1,263 commercial aircraft in 2023 compared to 1,141 commercial aircraft in 2022. Further, the rising procurement of military aircraft is another major factor supporting the integration of valves in the aviation industry.
The growing aircraft MRO industry is likely to generate huge opportunities for market vendors during the forecast period. This is further assisted by the rising global aircraft fleet which is generating constant demand for MRO operations due to continuous flight operations. Further, the need for regular maintenance checks for existing operational aircraft fleets is further likely to generate new demand for aircraft valves in the coming years.
Key segments that contributed to the derivation of the Aircraft Valve Market analysis are product type, valve type, aircraft type, end user, and geography.
The geographic scope of the Aircraft Valve Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America has dominated the Aircraft Valve Market in 2023, whereas, the Asia Pacific region is likely to witness significant growth during the forecast period. The growth in air passenger traffic, the demand from airlines to replace their aging fleet, and rising aircraft order backlog are among the major growth drivers for the aircraft valve market in North America. Owing to this factor, airplanes are widely preferred means of transport for domestic travel by the North American population. This has translated into higher air passenger traffic in the region. The high passenger traffic demands are being proficiently supported by the strong economic conditions in the North American region that have resulted in increased consumer spending on travel. Thus, the demands increase in the manufacturing of aircrafts, which further demands the integration of aircraft valves in the aircrafts.
The Aircraft Valve Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft valve market and strategies:
The regional trends and factors influencing the Aircraft Valve Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Valve Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 4.43 Billion |
| Market Size by 2031 | US$ 6.34 Billion |
| Global CAGR (2023 - 2031) | 4.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aircraft Valve Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aircraft Valve Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The “Aircraft Valve Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: