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    Aircraft Engine Valves Market Report

    Aircraft Engine Valves Market Report
    Report code - SR2420 Published On : Mar,2023 No. of Pages: 125
    Aircraft Engine Valves Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    Market Highlights

    Engine valves are directly or indirectly associated with the energy transfer from the engine to other components. The fluid flowing through a valve may be hydraulic fluid, pressurized air, fuel, or lubricant depending upon the application. These valves may be pressure or temperature triggered, electrically operated, or manually controlled. The main purposes of the engine valve are to start the aircraft, transmit power to different aircraft systems, and protect the engine (turbines) from overheating or freezing. 

    After a mammoth decline in 2020, the aerospace industry started recording from 2022 onwards (19.1% YoY, 2022). Key factors fueling the growth of the market are rebounding commercial aircraft production, aging aircraft fleet size, increasing use of electric valves in modern aircraft, and fervent efforts toward developing electric aircraft as the companies are focusing more on servo-hydraulic and servo-pneumatic valves. In the long term, the aerospace engine valves market is expected to grow at a promising CAGR of 10.2 % to reach a sales figure of US$ 890 million in 2028.

    Recent Market JVs and Acquisitions: A fair number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

    • In September 2022, Parker-Hannifin Corp., a global leader in motion and control technologies, announced the completion of its acquisition of Meggitt PLC at nearly US$ 10 billion.
    • In May 2022, Transdigm Group inc. acquired DART Aerospace, a key helicopter manufacturer, for approximately US$ 360 million, to expand its market position in the helicopter industry.
    • In April 2020, Raytheon Corporation merged with United Technologies Corporation, to form Raytheon Technologies Corporation. Collins Aerospace, a part of the newly formed company, is among the major manufacturers of engine valves, across the globe.

    Market Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Valve-Type Analysis

    Pneumatic Valves, Hydraulic Valves, Fuel Valves, and Other Valves

    Hydraulic valve is anticipated to remain the biggest valve category in the years to come.

    Material-Type Analysis

    Titanium, Aluminum, and Others

    Titanium is expected to remain the dominant material type in the coming years.

    Aircraft-Type Analysis

    Commercial Aircraft, General Aviation, Business Aircraft, Military Aircraft, Helicopters, and UAVs

    Commercial aircraft is expected to remain the biggest demand generator over the next five years.

    End-User-Type Analysis

    OE and Aftermarket

    OE is expected to remain the dominant end-user type throughout the study period.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.

     

    Based on the valve type, the aircraft valves market is segmented into pneumatic valves, hydraulic valves, fuel valves, and other valves. Pneumatic valve is expected to remain the largest and the fastest-growing engine valve type in the market during the forecast period. Aircraft pneumatic system is responsible for starting of the engine, transmitting power from the engine to the aircraft, and pressurizing hydraulic fluid. The valves involved in this process are termed control valves and are triggered by the pressure difference between the aircraft and the atmosphere.

    Based on the material type, the market is segmented into titanium, aluminum, and others. Titanium is expected to remain the dominant material type in the market during the forecast period. Titanium and its alloys are used in valves because of their low weight, high strength (high specific strength), and heat protection characteristics. Amid the Russo-Ukrainian war, there has been a sharp increase in the price of materials, especially titanium alloys. Both airframers, Boeing and Airbus, are working hard to develop alternate titanium suppliers after the ban on imports from Russia. Russia is the powerhouse of titanium production. Other materials, such as steel and composites, are also used for the manufacturing of aircraft engine valves.

    Based on the aircraft type, the market is segmented into commercial aircraft, general aviation, business aircraft, military aircraft, helicopter, and UAVs. Commercial aircraft is likely to remain the biggest demand generator for engine valves in the foreseeable future. After a significant drop in commercial aircraft production amid the pandemic, all major airframers, especially Boeing and Airbus, are raising the production rates of their key programs. Supply chain disruption, labor shortage, inflation, etc. remain a big challenge before engine makers and airframers achieve their targets. CFM (Safran/GE JV) delivered 1,136 LEAP engines (certified for A320neo, B737Max, and C919) in 2022 and has set a target to deliver 1,300 engines in the year 2023, despite supply chain disruption.   

    Based on end-user type, the market is segmented into OE and aftermarket. OE will be the dominant as well as the fastest-growing end-user type in the market. During the flight, aircraft valves must function properly, which frequently leads to component wear and tear. Flight hours of fleets have exponentially grown as a result of the rise in aviation travel across areas. The number of days an airplane is in service and the number of flying hours directly affect the replacement cycle of aerospace valves. In addition, there are no repairs or upkeep tests performed on aerospace valves; they are simply replaced.

    With the highest growth in the demand for aircraft valves, Asia-Pacific is expected to remain the fastest-growing market during the forecast period. China, Japan, Singapore, and India are the leading markets in Asia-Pacific. As per Boeing’s latest commercial aircraft outlook, approximately 17,000 aircraft are likely to be delivered in the Asia-Pacific region out of which 8,500 will be in China only. India is likely to add about 2,400 aircraft in the next twenty years.

    North America is estimated to maintain its dominance in the aircraft engine valve market in the foreseeable future. All the major valve producers like Honeywell, Triumph, Woodward Inc., and Collins Aerospace have a strong presence in the region. Airframers, like Boeing, Airbus, Bombardier, and Lockheed Martin, contribute a substantial share of the region’s market.  The demand in this area is mainly driven by the assembly plants of engines and aircraft and technological developments in valve technologies.

    Key Players

    The market is moderately consolidated with the presence of a fair number of players. Most of the major players are diversified and offer several products targeting the aerospace industry. Furthermore, these companies are part of a large group, making them one of the biggest tier players in the aerospace industry. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the aircraft engine valves market.

    • Parker-Hannifin Corp.
    • Honeywell International Inc.
    • Transdigm Group, Inc.
    • Liebherr Group
    • Woodward Inc.
    • Raytheon Technologies Corporation
    • General Electric Company
    • Safran S.A.
    • Eaton Corporation plc
    • Rolls-Royce plc

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft engine valves market realities and future market possibilities for the forecast period. 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 15 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. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The aircraft engine valves market is segmented into the following categories. 

    Aircraft Engine Valves Market, by Valve Type

    • Pneumatic Valves
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Valve-Type Analysis” Bleed Air Valve, Pressure Relief Valve, Shut-off Valve, and Others)
    • Hydraulic Valves (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Valve-Type Analysis: Selector Valve, Shut-off Valve, and Others)
    • Fuel Valves (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Valve-Type Analysis: Solenoid Valves, Motor-Operated Valves, and Others)
    • Other Valves (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Engine Valves Market, by Material Type

    • Titanium (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Engine Valves Market, by Aircraft Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Business Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAVs (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Engine Valves Market, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aircraft Engine Valves Market, by Region

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

    Report 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

    A Bird's Eye View of the Market

    The aircraft engine valves market is estimated to grow at a CAGR of 10.2% to reach about US$ 890 million by 2028, driven by an expected increase in the production of aero engines in the wake of rise in the production rate of key programs (B737Max, A320neo, B787, and A350) paired with rising aircraft fleet size.

    Parker-Hannifin Corp., Honeywell International Inc., Transdigm Group, Inc., Liebherr Group, Woodward Inc., Raytheon Technologies Corporation, General Electric Company, Safran S.A., Eaton Corporation plc, and Rolls-Royce plc are the leading players in the aircraft engine valves market.

    North America is estimated to remain dominant in the aircraft engine valves market in the foreseeable future. The region remains the pioneer in aircraft as well as its engine production. All the leading airframers as well as engine makers have a presence in the region.

    Asia-Pacific is estimated to remain the fastest-growing market for aircraft engine valves in the foreseeable future. China now has the world's biggest aviation industry as a result of a rise in domestic flight travel. The expansion of the industry would also be aided by a rise in the number of airports in the area. Furthermore, the high focus of the Chinese government on the development of commercial, regional, and military aircraft indigenously boosts the regions demand. Growing Japanese, Singaporean, and Indian market is likely to give additional impetus to the regions demand.

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