Aerospace & Defense Fluid Conveyance Systems Market in Airframe Application Segment is Expected to Contribute 60% Share By 2024
Key Players are
• Triumph Group
• GKN Aerospace
• Hannifin Corporation
• AIM Aerospace
• Eaton Corporation
• Arrowhead Products and Encore Group
Consistent investment in defense sector particularly in emerging countries has resulted in increase in demand from military aircraft resulting in revenue generation. 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.
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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.
OEMs are expected to hold maximum share generating around USD 14 billion by 2024. This can be credited to mandatory installation of the fluid transmission systems in the aircraft for carrying out critical flight operations. Aftermarket is estimated to witness rapid growth over the forecast timeframe. Regular maintenance and safety checkup of aircraft with the replacement of the parts during the specified time duration will contribute to aerospace & defense fluid conveyance systems markwet growth.
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Duct components segment is protected to dominate market revenue by generating over USD 7 billion in 2024. This segment will drive industry growth owing to a large application such as fuel tank inerting system, engine bleed air and starter system along with leading aircraft wings edges. Rising demand for improved high-quality ducts are made of titanium and nickel provides high material strength to cater new generation aircraft are instigating aerospace & defense fluid conveyance systems Market.
3. Aerospace & Defense Fluid Conveyance Systems Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Component Suppliers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.4. Pricing analysis
3.4.1. By region
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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Major prominent companies include Triumph Group, GKN Aerospace, Hannifin Corporation, Parker, AIM Aerospace, Eaton Corporation, Arrowhead Products and Encore Group. Other key players in aerospace & defense fluid conveyance systems market are ITT Corporation, Senior Plc, Unison Industries, Exotic Metal Foaming, Stelia Aerospace. These companies are offering the technological advance product range to comply with other several parts in maintaining better fluid supply in operation.
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