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  • Aircraft Valves Market Analysis & Forecast | 2023-2028

    Aircraft Valves Market Analysis & Forecast | 2023-2028

    Aircraft Valves Market Analysis & Forecast | 2023-2028
    Report code - SRAD188 Published On : Mar,2023 No. of Pages: 140
    Aircraft Valves Market Size, Share, Trends, Forecast, Competitive Analysis, and Growth Opp See more...

    Market Insights

    The Aircraft Valves Market was valued at US$ 2.3 billion in 2022 and is likely to reach an annual market size of US$ 4.6 Billion in 2028 at an exceptional CAGR of 9.6% during the forecast period of 2023-2028.

    Aircraft Valves Market Snapshot

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    What are Aircraft Valves?

    Aircraft valves are the fittings through which fluid flows. They control the flow of fluid by opening and closing. The fluid flowing through a valve may be liquid or gas depending upon the purpose for which the valve is fitted.

    These valves may be pressure or temperature triggered, electrically operated, or manually controlled. Many valves may be found throughout the engine, hydraulic system, and deicing system of an airplane. 

    Market Drivers

    The global aircraft valves market started recording witnessing substantial growth from 2022 (19.1% YoY) after a major decline in 2020 due to the pandemic.

    Some of the key factors fuelling the growth of the market are –

    • Increasing demand of commercial and cargo aircrafts across the globe.
    • Aging aircraft fleet size and rebounding commercial aircraft production.
    • Increasing use of electric valves in modern aircraft.
    • Efforts toward developing electric aircraft as the companies are focusing more on servo-hydraulic and servo-pneumatic valves.
    • Technological advancements like the development of lightweight and high-performance valves and growing prices of raw materials.
    • Growing Demand for Maintenance, Repair, and Overhaul (MRO) Services including replacement of aircraft valves.

    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 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.

    Some of the major players in the market are-

    Market Segmentation

    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, Aluminium, and Others

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

    Application-Type Analysis

    Engine, Landing Gears, Wheels and Brakes, ECS, Flight Control, Air Conditioning, and Others

    Flight control is anticipated to remain the biggest demand generator for valves whereas ECS will be the fastest-growing application type in the years to come.

    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 the 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.

     
     
    By Valve Type

    The aircraft valves market is segmented into pneumatic valves, hydraulic valves, fuel valves, and other valves. 

    Hydraulic Valve is expected to remain the largest with a share of >55% of the market in 2022 and the fastest-growing valve type in the market during the forecast period. The hydraulic system is comparatively the largest and a complex system with different types of valves controlling various actions inside and outside the aircraft. 

    By Material Type

    The market is segmented into titanium, aluminum, and others. 

    Titanium is expected to remain the dominant material type with a share of >50% in 2022 in the market. 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 major materials used to manufacture aircraft valves are stainless steel and composites.

    By Application Type

    The market is segmented into engines; landing gears, wheels, and brakes; environmental control systems, flight control, air conditioning, and others. 

    Flight control is expected to remain the biggest demand generator for valves with a share of >35% in 2022 in the market. It is the largest system present in an aircraft to control various activities such as flaps, ailerons, and rudder. 

    The environmental control system is expected to be the fastest-growing application type in the coming years.

    By Aircraft Type

    The market is segmented into commercial aircraft, general aviation, business aircraft, military aircraft, helicopter, and UAVs.

    Among all types of aircraft, Commercial aircraft is expected to remain the biggest demand generator with a share of >55% for valves in 2022.  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 airframers achieve their targets. Boeing, in its latest commercial aircraft outlook, anticipated that approximately 41,170 commercial and regional aircraft are likely to be delivered in the next twenty years, suggesting a sustainable demand for all types of vales in the long term.

    By End-User Type

    The market is segmented into OE and aftermarket. 

    OE is expected to remain the dominant as well as the faster-growing end-user type in the market during the forecast period. 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.

    Regional Analysis

    North America is estimated to maintain its dominance with a share of >40% in 2022 in the aircraft valve market in the foreseeable future. All the major valve producers, such as Parker-Hannifin Corp. (Parker Aerospace), Honeywell International Inc., Eaton Corporation plc, GE Company, and Woodward Inc., 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.

    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, of which 8,500 will be in China only. India is likely to add about 2,400 aircraft in the next twenty years.

     

    The market is segmented into the following categories. 

    By Valve Type

    • Pneumatic (Starter Valve, Bleed Air Valve, Pressure Relief Valves, Shut-off Valves, Others)
    • Hydraulic (Selector Valve, Shut-off Valves, Others)
    • Fuel (Hand Operated Valves, Manually Operated Gate Valves, Motor Operated Valves, Solenoid Operated Valves, Others)
    • Others (Lubrication Valves)

    By Material Type

    • Titanium
    • Aluminum,
    • Others

    By Application Type

    • Engine (Shut-off Valve, Bleed Air Valve, Pressure Relief Valve, Selector Valve, and Others)
    • Landing gears wheels & brakes (Brake Control Valve, Check Valve, Priority Valve, Sequence Valve, and Others)
    • Environmental Control Systems (ECS) (Pressure Reducing Valve, Engine Anti-Icing Valve, Wing Anti-Icing, and Others)
    • Flight control (Shuttle Valve, Check Valve, Sequence Valve, Pressure Relief Valve, and Others)
    • Air conditioning (Pack Valve, Isolating Valve, Cross Bleed Valve, and Others)
    • Others (Water/Wastewater Valve and Others)

    By Aircraft Type

    • Commercial
    • General Aviation
    • Business
    • Military
    • Helicopter
    • UAV

    By End User

    • OE
    • Aftermarket

    By Region

    • North America (Country Analysis: The USA and the Rest of North America)
    • Europe (Country Analysis: Germany, Italy, Norway, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, South Korea, and the Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Latin America and Others)

    Recent Development

    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.

    Report Features

    This report provides market intelligence most comprehensively. 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.

    Report – Features

    Market Segmentation

    06

    Regions Covered

    04

    Countries/Sub-Regions Covered

    15

    No. of Figures & Tables

    >120

    Company Profiles

    10

     

    The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis.
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Trend and forecast analysis.
    • Segment trends and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
    • Attractive segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft valves market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner 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.

    Target Audience

    The following is a list of the customers that the market aims to convert the most:

    • Manufacturers
    • Suppliers
    • Distributors
    • Organizations
    • Government bodies

    Customization Option

    Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 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.

    Frequently Asked Questions (FAQs)

    Aircraft valves are the fittings through which fluid flows. They control the flow of fluid by opening and closing. The fluid flowing through a valve may be liquid or gas depending upon the purpose for which the valve is fitted. These valves may be pressure or temperature triggered, electrically operated, or manually controlled. Many valves may be found throughout the engine, hydraulic system, and deicing system of an airplane.

    The aircraft valves market was valued at US$ 2.3 billion in 2022 and is likely to reach an annual market size of US$ 4.6 Billion in 2028.

    The market is expected to grow at a CAGR of 9.6% during the forecast period.

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

    North America dominated the market with a >40% share in 2022 and is expected to remain the largest market during the forecast period.

    The global aircraft valves market started recording witnessing substantial growth from 2022 (19.1% YoY) after a major decline in 2020 due to the pandemic. Some of the key factors fuelling the growth of the market are Increasing demand of commercial and cargo aircrafts across the globe. Aging aircraft fleet size and rebounding commercial aircraft production. Increasing use of electric valves in modern aircraft. Efforts toward developing electric aircraft as the companies are focusing more on servo-hydraulic and servo-pneumatic valves. Technological advancements like the development of lightweight and high-performance valves and growing prices of raw materials. Growing Demand for Maintenance, Repair, and Overhaul (MRO) Services including replacement of aircraft valves.

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