Aerospace Valves Market to Reach USD 14.0 billion by 2026

“Increase global aircraft fleet size, rise in demand for UAVs, and frequent replacement of aerospace valves are the major factors driving the Aerospace Valves Market.”

The global aerospace valves market size is projected to grow from USD 11.4 billion in 2021 to USD 14.0 billion by 2026, at a CAGR of 4.1% from 2021 to 2026. The market is driven by various factors, such as increase in global aircraft fleet size, short replacement cycle of aerospace valves and growing demand for Unmanned Aerial Vehicles.

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The aerospace valves market includes major players like Eaton Corporation PLC (Ireland), Safran (France), Woodward, Inc. (US), Triumph Group (US), and Parker Hannifin Corporation (US). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aerospace valves production and services by 7–10% globally in 2020.

“Environment control system: The largest segment of the aerospace valves market, by application. “

Based on application, the environment control segment is expected to be the largest market by value. The growth of the environment control system segment of the aerospace valves market can be attributed to the many sub-systems it comprises of such as air supply, thermal control, cabin pressurization, avionics cooling, smoke detection and fire suppression. Aerospace valves are also used in other important systems such as pneumatic system, hydraulic system, fuel system. Aerospace valves used in the lubrication system keeps the oil pressure in check, whereas in water and wastewater system, valves allow the flow of potable water to the water distribution system that is then used by passengers and crew onboard.

“Butterfly Valves: The highest revenue segment of the aerospace valves market, by type. “

Based on type, the Butterfly Valves segment is projected to be the highest CAGR for the aerospace valves market during the forecast period. The growth of the Butterfly Valves segment of the aerospace valves market can be attributed to the extensive usage in various applications due to their compact size, less space requirements, and ease of use. These are used commonly in fuel system and pneumatic system of aircrafts.

“Stainless-Steel: The highest revenue segment of the aerospace valves market, by material. “

Based on material, the stainless-steel segment is projected to have the highest share of revenue in the aerospace valves market. The extensive use of stainless steel for manufacturing aerospace valves can be attributed to its properties and advantages such as easy availability, low cost, resistance to heat and good strength. It is used in high applications where there is a higher chance of corrosion, high operating temperature.

“Unmanned Aerial Vehicles: The fastest-growing segment of the aerospace valves market, by aircraft type. “

Based on the aircraft type, the fixed wing aircraft segment is projected to have the highest revenue in the aerospace valves market during the forecast period. Fixed wing aircraft segment consists of commercial aviation, business and general aviation and military aviation. The fixed wing segment consists of the greatest number of aircrafts in terms of absolute numbers. However, the Unmanned Aerial Vehicles segment is projected to have the highest CAGR in the aerospace valves market. This is due to increasing usage of drones, and other UAVs for applications such as surveillance and last mile delivery. Several start-ups are now focusing on developmental projects such as UAVs, resulting in a higher CAGR of UAVs.

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This release was published on openPR.