Aircraft Valve Market Growth, Size, and Share| 2031
The Aircraft Valve Market size is projected to reach US$ 6.34 billion by 2031 from US$ 4.43 billion in 2023. The market is expected to register a CAGR of 4.6% in 2023–2031.
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.
Aircraft Valve Market Analysis
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.
Aircraft Valve Market Overview
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 rising civil aircraft and helicopter deliveries
- The rising number of contracts for military aircraft and helicopters
- Growth in aircraft MRO industry
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Aircraft Valve Market: Strategic Insights
Market Size Value in US$ 4192.4 Million in 2019 Market Size Value by US$ 6084.9 Million by 2027 Growth rate CAGR of 6.2% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Aircraft Valve Market: Strategic Insights
| Market Size Value in | US$ 4192.4 Million in 2019 |
| Market Size Value by | US$ 6084.9 Million by 2027 |
| Growth rate | CAGR of 6.2% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Aircraft Valve Market Drivers and Opportunities
Increasing Airplane Deliveries Worldwide
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.
Growth in the Aviation MRO Sector is Likely to Provide Future Opportunities
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.
Aircraft Valve Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Aircraft Valve Market analysis are product type, valve type, aircraft type, end user, and geography.
- Based on product type, the Aircraft Valve Market has been divided into fuel system valves, hydraulic system valves, air conditioning system valves, lubrication systems valves, and others. The fuel system valves segment held a larger market share in 2023.
- By valve type, the market has been segmented into pilot valves, poppet valves, flapper-nozzle valves, and others. The poppet valves segment held the largest share of the market in 2023.
- In terms of aircraft type, the market has been segregated into fixed-wing and rotary-wing. The fixed-wing segment dominated the market in 2023.
- In terms of end-users, the market has been bifurcated into OEMs and MRO. The OEMs segment dominated the market in 2023.
Aircraft Valve Market Share Analysis by 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.
Aircraft Valve Market News and Recent Developments
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:
- In September 2022, Parker Hannifin Corporation, the global leader in motion and control technologies, announced that it had completed its acquisition of Meggitt PLC for approximately US$ 7.8 billion. (Source: Parker Hannifin Corporation, Press Release/Company Website/Newsletter)
- On May 2023, Triumph Group Inc, and Moog Inc entered into a five-year agreement to provide maintenance, repair, and overhaul (MRO) solutions for Boeing 787 landing gear and cargo door actuation control systems through the Moog Total Support Program (MTS) for an Asia Pacific operator who has more than 40 Boeing 787's in service. (Source: Triumph Group Inc, Press Release/Company Website/Newsletter)
Aircraft Valve Market Report Scope
Aircraft Valve Market Report Coverage and Deliverables
The “Aircraft Valve Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed Porter’s Five Forces analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles with SWOT analysis
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type , Valve Type , Aircraft Type , and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
- Raytheon Technologies Corp
- Crissair Inc
- Eaton
- Honeywell International Inc
- ITT Inc
- Moog Inc
- Woodward Inc
- Parker Hannifin Corporation
- Safran Group
- Triumph Group Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
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- Validates and strengthens in-house secondary research findings
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- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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