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Aerospace & Defense Fluid Conveyance Systems Market in Ducts Segment is Expected to Account More than USD 7 Billion 2024| Key Players are GKN Aerospace, Parker Hannifin, Eaton Corporation, ITT, Encore Group, Arrowhead Products

06-06-2019 10:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Aerospace & Defense Fluid Conveyance Systems Market

Aerospace & Defense Fluid Conveyance Systems Market

Ducts will account for more than USD 7 billion in aerospace & defense fluid conveyance systems market by 2024. Their high usage for transmitting the fluids from the engine to aircraft wings edges will essentially contribute towards the revenue generation. They are also used in applications such as starter systems, engine bleed air, and thermal anti-ice systems, accelerating their demand. Hoses will witness around 4% CAGR from 2018 to 2024 owing to their high flexibility and strength.

Global aerospace & defense fluid conveyance systems Market is anticipated to exceed USD 22 billion over the forecast timeframe. Increasing aircraft production and global commercial plane deliveries will fuel the industry growth. Consistent investment in defense sector particularly in emerging countries has resulted in increase in demand from military aircraft resulting in revenue generation.

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Up surging air traffic owing to urbanization and affordability has contributed to the superior demand of the aircraft, this in turn, will induce positive impact on aerospace & defense fluid conveyance systems Market till 2024.

International Air Transport Association has registered more than 3.8 billion air passengers carried by currents airliner across the world. In addition, IATA noted over 7% rise as compared to 2015. Rising disposable income across the world, less expensive flight rates and growing traveling and tourism industry growth fueling aerospace & defense fluid conveyance systems market penetration.

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Aerospace & defense fluid conveyance systems market from airframe is likely to capture over 60% share till 2024 owing to high implementation of these systems in applications such as brakes, flight control surfaces, landing gear, etc. Engine is likely to exhibit 4% CAGR from 2018 to 2024 owing to extensive usage of fluid conveyance systems for fluid transmission between the tank and aircraft engine.

North America aerospace & defense fluid conveyance systems market is anticipated to hold dominance with over 50% market share during forecast time frame owing to major manufacturing companies presence. The strong presence of aircraft manufacturers including Airbus, Boeing and Bombardier Aerospace along with rising demand for a fluid mechanism in next-generation aircraft are boosting industry growth.

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Hydraulic fluid systems is anticipated to showcase dominance with approximately 40% revenue share by 2024. These systems are highly prominent in conducting various critical operations of aircrafts. Provision of the benefits such as cost-effective installation, easy maintenance, and negligible losses will further contribute towards the revenue generation. Fuel systems will witness approximately 4% CAGR from 2018 to 2024 owing to regular innovations to develop enhanced products.

GKN Aerospace, Parker Hannifin Corporation, Eaton Corporation, ITT Corporation, Encore Group, Arrowhead Products, and Triumph Group are among prominent players in aerospace & defense fluid conveyance systems market. Other key players include Exotic Metal Foaming, Unsion Industries, Stelia Aerospace, Senior Plc, and AIM Aerospace. The competitors are involved in adopting new product offerings as their core strategy to gain competitive edge and expand their portfolio.

Browse Related Report: Aerospace Control Surface Market Size in Asia Pacific Region is Expected to Rapid Growth Over 2025: https://www.marketwatch.com/press-release/aerospace-control-surface-market-size-in-asia-pacific-region-is-expected-to-rapid-growth-over-2025-2019-06-05

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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