The global aircraft market has witnessed increased demand for fuel-efficient planes that are lighter and offer greater operational efficiency. This, coupled with environmental awareness and the global push to reduce wastage in manufacturing processes, has led to the integration of several technological advancements, dramatically changing the aerospace industry as a whole. The impact of this has also trickled into the aerospace valves market, with players using additive manufacturing technology, and the like, to cater to varied demands from both, commercial and military end users.
According the this report on the global aerospace valves market by Transparency Market Research, based on an analysis of trends impacting the market, it is expected to near or cross the US$ ~4 Bn mark by the end of the forecast period in 2027.
Growth in Commercial Aircraft Sector to Positively Impact Aerospace Valves Market
The commercial aircraft sector, in general, has witnessed growth in recent years, as airlines add to their fleet and the demand for advanced planes increases, which, in turn, has been influenced by the global push for economical and energy-efficient aircraft. This, coupled with an increase in passenger travel, has led to the production of newer aircraft with better equipment.
With the manufacturing of aircraft on the rise, there is high demand for efficient valves for a myriad of purposes, including hydraulics, fuel, pneumatics, and air-conditioning systems, which is expected to have a direct and positive impact on the aerospace valves market.
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Additive Manufacturing of Aerospace Valves: A Growing Trend
The pervasive influence of technology has influenced the aerospace industry, where newer and better prototyping & manufacturing techniques are set to change the way production is carried out. One of these is additive manufacturing, or 3D printing, which has gradually become popular for the manufacturing of components, including valves, in the aerospace industry. Players are increasingly leveraging this process to reduce development time and part weight, and increasing the operational efficiency of the product.
The 3D printing process is being seen as a crucial technology, the adoption and use of which is likely to shape the evolution of the industry itself. For instance, in June 2019, Eaton, a leading player in the global aerospace landscape, announced the use of additive printing for the manufacturing of aluminium housing and valves for the ram air valve assembly.
Fluctuating Raw Material Prices Negatively Impacting Growth
According to this study on the global aerospace valves market, the fluctuating costs of raw materials required for the production of valves, along with the high costs of research & development, are having a significant impact on the landscape. This has resulted in manufacturers in the aerospace valves market being unable to meet the increasing demand from end users, which is expected to have a negative impact on the growth of the market. The dearth of raw materials has also led to a slowdown in the innovation of aerospace valves, which is also expected to negatively impact the expansion of the landscape.
Secondary research sources referred to by analysts during the production of the report on the global aerospace valves market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global aerospace valves market as a primary research source.
These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global aerospace valves market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global aerospace valves market with accuracy. The study also uses a top-down approach to assess the numbers for each segment, and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global aerospace valves market more reliable and accurate.
Segmentation of Global Aerospace Valves Market
TMR’s study of the global aerospace valves market divides the market based on system application, valve type, sales channel, end-use industry, and region. Changing market trends and other crucial market dynamics associated with these segments of the global aerospace valves market have been discussed in detail.