Aerospace Fluid Conveyance Systems Market Forecast & Growth Analysis

Market Insights

The aerospace fluid conveyance systems market was valued at US$ 2.9 billion in 2022 and is expected to cross US$ 5.1 billion by 2028, growing at a CAGR of 8.5% during the forecast period.

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The Covid-19 pandemic impacted the aerospace industry, including the fluid conveyance systems market, which witnessed a decline of 36% in 2020. However, as the aerospace industry recovers, the market witnessed significant growth.

What is an aerospace fluid conveyance system?

Aerospace fluid conveyance systems play a critical role in ensuring the safe and efficient operation of an aircraft. It refers to the network of components, devices, and subsystems that transport fuel, hydraulic fluids, air, etc. throughout an aircraft.

Examples of components found in aerospace fluid conveyance systems include pipes, hoses, valves, pumps, filters, reservoirs, etc. These components are often made from lightweight and durable materials, such as aluminium, titanium, and composite materials, in order to minimize weight and maximize efficiency.

Market Drivers

Some of the key reasons that are propelling the growth of the market include-

• Increasing urbanization and per capita income that has supported air transportation, especially in developing nations.
• Stringent safety regulations of the aerospace industry demand high-quality, certified fluid conveyance systems to meet high standards ensuring the safety and reliability of aircraft.
• Increasing demand for energy efficiency of a plane due to the rising fuel costs and environmental concerns related to air travel.

Segments Analysis

By Product Type

Based on the product type, the aerospace fluid conveyance systems market is segmented into hose assemblies, duct assemblies, and tube assemblies. Duct assemblies took the throne in 2022 with the highest share in the market. Ducts are situated throughout the aircraft, from the engine through the fuselage to the leading edges of the wings and the tail of the aircraft. Between low-pressure and high-pressure, high-pressure ducts dominate the aerospace industry.

By Material Type

Based on the material type, we have segmented the market as nickel-chromium alloys, titanium & alloys, steel & alloys, composites, Teflon, and others. Nickel-Chromium alloys held an irrefutable lead in the market in 2022. Nickel-Chromium alloys offer several advantages, such as high strength, excellent fabricability, outstanding corrosion resistance, and the ability to withstand at cryogenic to 1800°F (982°C). Composites are rapidly gaining traction in low-temperature and high-pressure applications, such as APU inlet, ECS inlet plenum, and APU plenum.

Regional Insights

With the highest growth (YoY) in the demand for aerospace fluid conveyance systems in 2022, Asia-Pacific is expected to remain the fastest-growing market during the forecast period. On the other hand, North America is likely to take lead in the market, driven by the aerospace hub, the USA. The North American market is relatively more consolidated as compared to Europe, with the presence of global players, such as Exotic Metals (Parker-Hannifin), Arrowhead Products, Triumph Group, Unison Industries, and ITT Inc.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The aerospace fluid conveyance systems market is segmented into the following categories. 

By Platform Type

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Helicopter
• UAV
• Spacecraft

By Product Type

• Hose Assemblies
• Duct Assemblies
• Tube Assemblies

By Material Type

• Nickel-Chromium Alloys
• Titanium & Alloys
• Steel & Alloys
• Composites
• Teflon
• Others

By Application Type

• Air Conveyance
• Fuel Conveyance
• Hydraulic Conveyance
• Other Conveyance

By Region

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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Key Players

The market has witnessed multiple mergers & acquisitions in the past few years. Some of the recent ones are Hutchinson’s acquisition of PFW Aerospace (2019) and Parker Hannifin’s acquisition of Exotic Metals (2019). Also, Meggitt Plc has accepted an all-cash acquisition offer from Parker Hannifin Corp (2021). The following are the key players in the aerospace fluid conveyance systems market.

• Eaton Corporation Plc
• Parker-Hannifin Corporation (Exotic Metals, and Meggitt Plc)
• Hutchinson PFW Aerospace GmbH
• Smith Group Plc
• Senior Plc

The key aerospace engine manufacturers are:

• CFM
• GE Aviation Engines
• Pratt & Whitney
• Rolls-Royce.

The key aircraft OEMs are:

• Boeing
• Airbus
• Lockheed Martin
• Bombardier
• Embraer
• ATR
• Cessna
• Gulfstream.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace fluid conveyance systems market realities and future market possibilities for the forecast period of 2023 to 2028.

The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.