The Future Of The Aerospace Valves Market Growth, And Research Report Breakdown

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 an increase in global aircraft fleet size, a rise in demand for UAVs, and frequent replacement of aircraft valves. The introduction of the Internet of Things (IoT) in aircraft valves serves as an opportunity for market growth up to 2026.

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The outbreak of COVID-19 and the resultant lockdowns and restrictions have taken a colossal toll on the world's economic activities. Air travel restrictions across the world have badly impacted the entire aviation sector. The COVID-19 pandemic has impacted the end-use industries adversely, resulting in a sudden dip in 2020 aircraft orders and deliveries. This is expected to negatively impact the aircraft valves market in the short term, with slow recovery expected in Q1 of 2021.The temporary halts in production have impacted the market for aircraft valves adversely.

"Based on application, environmental control system segment is expected to hold the largest share in the aerospace valves market during the forecast period"

Based on application, the environmental control system(ECS) segment is expected to hold the highest share in the aircraft valves market from 2021 to 2026. The growth of this segment can be attributed to the rising demand of ECS due to the simultaneous growth of aircraft, as ECS forms a vital component of any aircraft. It is used through the cabin as well as the cockpit, and hence, it leads the segment in terms of the absolute number of valves used. The growth of the environment control system segment of the aircraft valves market can also 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.

"Based on end use, the OEM segment is expected to grow at the highest CAGR in the aerospace valves market during the forecast period"

Based on end use, the OEM segment is expected to grow at the highest CAGR during the forecast period. Rise in global aircraft fleet size and growing international trade are considered to be the drivers of the OEM segment in the aircraft valves market.

"Europe and Asia Pacific are expected to be the fastest-growing regions for the aerospace valves market during he forecast period"

Europe and Asia Pacific are the fastest growing regions in the aircraft valves market. The growth of the market in Europe is driven by the increase in air travel in the region. The presence of leading OEMs and growing investments in air travel in Europe are driving the market growth of the entire European aircraft valves market. The increase in disposable income and growth in air passenger traffic has resulted in the growing demand for new aircraft in Asia Pacific region, which, in turn, has caused a boost in the demand for aircraft valves. The growth of this market in other regions is mainly driven by the increase in the global aircraft fleet size, and the emergence of unmanned aerial vehicles (UAVs) for a wide range of applications across sectors, as well as the short replacement cycles of aircraft valves.

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Major players operating in the aircraft valves market include Eaton Corporation PLC (Ireland), Safran (France), Woodward, Inc. (US), Triumph Group (US), and Parker Hannifin Corporation (US) among others. These companies have well-equipped manufacturing facilities and strong distribution networks across North America, Europe, Asia Pacific, Latin America, Middle East and Africa.

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This release was published on openPR.