Understanding Impact of COVID-19 on Aerospace Valves Market

Aerospace Valves Market: Additive Manufacturing Achieving New Heights

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.

aerospace valves market infographic

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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.

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.

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  • According to Transparency Market Research’s latest research report on the global aerospace valves market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in the demand for commercial aircraft and increase in investments in the aerospace & defense industry are likely to fuel the global aerospace market during the forecast period.
  • In terms of revenue, the global aerospace valves market is estimated to reach a value of US$ 4 Bn by 2027, expanding at a CAGR of ~4% throughout the forecast period.

Rising Demand for Commercial Aircraft: A Key Driver

  • The global commercial aircraft sector is witnessing significant growth, owing to increased demand for next-generation, fuel-efficient aircraft. Moreover, with the rising demand for passenger travel and replacement of obsolete equipment, commercial aircraft manufacturers are seen increasing their production capacities.
  • Since valves form an integral part of several aircraft systems, such as hydraulic, fuel, pneumatic, and air-conditioning systems, increase in the production of commercial aircraft is expected to proportionately and directly drive the growth of the global aerospace valves market during the forecast period.
    • For instance, in February 2019, Airbus SE announced that it was expecting to carry out the delivery of 890 commercial aircraft in 2019 as compared to 800 in 2018.