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Aerospace Fluid Conveyance Systems Market Insights, Share, Trends And Research Report 2024

04-19-2024 08:42 AM CET | Aerospace & Defense

Press release from: The Business research Company

Aerospace Fluid Conveyance Systems Market

Aerospace Fluid Conveyance Systems Market

The aerospace fluid conveyance systems market size has grown rapidly in recent years. It will grow from $2.98 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to aircraft production growth, stringent safety regulations, fuel efficiency initiatives, rise in air travel, military modernization programs, globalization of aerospace supply chains.

The aerospace fluid conveyance systems market size is expected to see strong growth in the next few years. It will grow to $4.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to sustainable aviation initiatives, demand for urban air mobility, global expansion of air cargo operations, increasing defense budgets, additive manufacturing adoption. Major trends in the forecast period include integration of smart technologies, automation and robotics in manufacturing, in-flight refueling systems, customization and modular systems.

Market Overview -
Aerospace fluid conveyance systems refer to the intricate network of pipes, hoses, and components that transport liquids and gases within aircraft, facilitating functions such as fuel, hydraulic fluid, and coolant distribution. These systems ensure the proper operation of various aircraft systems, maintaining performance, safety, and efficiency.

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Rising Demand For Air Cargo Transportation Boosts Aerospace Fluid Conveyance Systems Market
The increasing demand for air cargo transportation is expected to propel the growth of the aerospace fluid conveyance systems market going forward. Air cargo transportation refers to transporting goods, products, or cargo by air using aircraft. Aerospace fluid conveyance systems and components are integral to the safe and efficient operation of cargo aircraft, which facilitate the movement of fluids, gases, and power to critical systems and equipment, ensuring the smooth transportation of goods by air. For instance, in December 2021, according to the International Air Transport Association (IATA), a Canada-based trade association, aviation cargo volumes increased annually by 18.7% in 2021 compared to 2020. Additionally, available cargo ton-kilometers (ACTKs) increased by 13.8% in 2021. Therefore, the growing demand for commercial aircraft is driving the growth of the aerospace fluid conveyance systems market.

Competitive Landscape -
Major companies operating in the aerospace fluid conveyance systems market report are General Electric Company, Lockheed Martin Corporation, AIM Industries Inc., Safran SA, Eaton Corporation PLC, TE Connectivity Ltd., SKF AB, Arconic Corporation, Precision Castparts Corp, TransDigm Group Incorporated, GKN Aerospace Services Limited, Crane Co, Smiths Group PLC, ITT Corporation, Woodward Inc., Stelia Aerospace, Triumph Group Inc., Senior PLC, Kaman Corporation, PFW Aerospace GmbH, Arrowhead Products Corporation, SEKISUI Aerospace Inc., Hutchinson S.A., Titeflex Corporation, Flexfab LLC, CFM S.r.l., Seginus Aerospace LLC, Amcraft Manufacturing Inc.

Innovative Convoluted Hoses Redefine Aerospace Fluid Conveyance Systems Market
Major companies operating in the aerospace fluid conveyance systems market are focused on developing innovative convoluted hoses, such as 2030T-V70CON, to gain a competitive edge in the market. 2030T-V70CON is a flexible convoluted hose with a spiral or helical pattern of folds or convolutions on the inside, allowing it to bend and flex without kinking or collapsing. For instance, in November 2021, Parker-Hannifin Corporation, a US-based provider of motion and control technologies, launched 2030T-V70CON, a new convoluted Polytetrafluoroethylene (PTFE) hose. The hose is less susceptible to cracking from stress or flexing than metal hoses or other fluoroplastic hoses when used in chemical transfer, high-temperature hydraulics, and hose applications. The hose has eight inside diameters ranging from 6 mm to 25 mm. The fully qualified 2030T-V70CON hose has good chemical resistance, can withstand temperatures between -70°C and +230°C to cover a wide range of extreme usage, and is ideal for various demanding duties requiring aggressive media.

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Key Segments -
The aerospace fluid conveyance systems market covered in this report is segmented -
1) By Product Type: Hoses, Low-Pressure Ducts, High-Pressure Ducts
2) By Aircraft Type: Commercial Aircraft, Regional Aircraft, Helicopter, Other Aircraft Types
3) By Material Type: Nickel And Alloys, Titanium And Alloys, Stainless Steel And Alloys, Composites, Other Material Types
4) By Application Type: Fuel, Air, Hydraulic
5) By End User: General Aviation, Civil Aviation, Military Aircraft

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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