Aircraft Hydraulic System Market Outlook 2024 : Expected Market Growth Rate, Major Driver And Segments | Parker Hannifin Corporation, Dynex/Rivett Inc., Liebherr-International AG

"The aircraft hydraulic system market size has grown rapidly in recent years. It will grow from $2.29 billion in 2023 to $2.61 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to growth in commercial aviation, military aircraft modernization, aging aircraft fleet, aircraft safety regulations, emerging markets.

The aircraft hydraulic system market size is expected to see rapid growth in the next few years. It will grow to $4.34 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to electric aircraft development, air travel recovery, rising defense budgets, trade and geopolitical factors. Major trends in the forecast period include electrification and hybridization, sustainable hydraulic systems, iot and predictive maintenance, smart sensors, additive manufacturing.

Market Overview -
Aircraft hydraulic systems refer to the system that performs the function of moving and actuating landing gears in an aircraft. This helps in creating force and transmitting pressure on every part and helps the aircraft fly high. The aircraft hydraulic systems are used to control and manage equipment such as brakes, flaps, and thrust reversers in air crafts.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=6748&type=smp

Rising Demand For Larger Commercial Aircraft Boosts Aircraft Hydraulic System Market
An increase in the usage of larger commercial aircraft is expected to propel the growth of the aircraft hydraulic system market going forward. The term """"larger-sized commercial aircraft"""" refers to aircraft that carry 12,500 pounds. Aircraft hydraulics help to achieve the essential consistency for large-scale aircraft and also lower the cooling cost and increase the load handling capacity. For instance, according to the Bureau of Transportation, a US-based department of transportation, in May 2021, the U.S. airlines carried 607% more scheduled service passengers than in May 2020, and large airlines' passenger travel has increased from 8 million in 2020 to 56.6 million in 2021. Therefore, the increase in usage of larger commercial aircraft is driving the growth of the aircraft hydraulic system market.

Competitive Landscape -
Major companies operating in the aircraft hydraulic system market include Parker Hannifin Corporation, Dynex/Rivett Inc., Liebherr-International AG, Woodward Inc., Triumph Group Inc., Moog Inc., Arkwin Industries Inc., Safran S.A., Hycom Engineering Pvt. Ltd., Senior plc, Honeywell International Inc., Eaton Corporation, United Technologies Corp., Nabtesco Corporation, SKF Group, Curtiss-Wright Corporation, Sitec Aerospace GmbH, GKN Aerospace, Abaco Systems Ltd., Claverham Ltd., Circle Seal Controls Inc., Electromech Technologies LLC, Oerlikon Corporation AG, Young & Franklin Inc., AGI Industries Pvt. Ltd., Argo-Hytos Group, Alta Group, Roper Technologies Inc., Sierra Nevada Corporation, Tactair Fluid Controls Inc.

Technological Advancements Elevate Performance In The Aircraft Hydraulic System Market
Technological advancements have emerged as the key trend gaining popularity in the aircraft hydraulic system market. Major companies operating in the market are introducing new technologies to sustain their position in the market. For instance, Greene Tweed, a US-based high-performance seal manufacturer, announced the launch of its new L-Cap seal for hydraulic applications in aerospace. The new L-Cap seal is said to surpass industry standards for performance and durability due to the use of proprietary Avalon PTFE, Arlon PEEK, and elastomer materials. This guarantees a long service life, minimal fluid leakage, and excellent performance over a wide temperature range. Greene Tweed's L-Cap seal, used in crucial flight actuation systems, offers superior fluid sealing in hydraulic cylinders even at very high pressures.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/aircraft-hydraulic-system-global-market-report

Key Segments -
The aircraft hydraulic system market covered in this report is segmented -
1) By Type: Open-Center, Closed-Center
2) By Component: Reservoirs, Pumps, Valves, Hydraulic Fuses, Accumulators, Actuators, Other Components
3) By Fluid Type: Vegetable-Based, Petroleum-Based, Synthetic-Based
4) By Wing Type: Fixed-Wing, Rotary Wing
5) By End User: Air force, Commercial and General Aviation

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

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.