DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Aircraft Hydraulic System Market by Type (Open-Center, Closed-Center), Component (Reservoir, Filters, Pumps, Accumulators, Actuators, Hydraulic Fluid), Platform (Fixed, Rotary) and Region - Global Forecast to 2021" report to their offering.
The aircraft hydraulic system market is projected to grow from USD 935.9 million in 2016 to USD 1,158.5 million by 2021, at a CAGR of 4.36% during the forecast period.
Increasing need for highly reliable system, higher power to weight ratio of hydraulics system, low cooling cost due to low amount of heat generated in hydraulics system, and wide range of load handling capacity are major factors expected to drive the market in the coming years. However, high maintenance cost and significant weight of hydraulic system may act restraints for the aircraft hydraulic system market.
North America is estimated to lead the aircraft hydraulic system in 2016. Countries in this region include the U.S. and Canada. Significant investments in research and development on advanced aircraft hydraulic system by domestic players and increasing demand for lightweight and easy-to-install systems are some of the factors expected to boost the growth of the aircraft hydraulic system market in this region.
Aircraft manufacturers as well as OEMs need high initial capital to employ skilled workforce and set up machinery, state-of-the-art technical equipment, and integration platforms. Furthermore, manufactured components need to be approved by various authorities before they are installed on board an aircraft. It is difficult to obtain approval for the replacement of conventional systems with enhanced hydraulic system. This may restrain the growth of the aircraft hydraulic system market in the coming years.
- High Reliability of Hydraulic System
- High Power to Weight Ratio of Hydraulic System
- Low Cooling Cost Due to Less Heat Generated in Hydraulic System
- Wide Range of Load Handling Capacity
- High Cost of Maintenance of Hydraulic System
- High System Weight Resulting in Increased Use of Electric System
- Advancements in Hydraulic System Components
- Higher Weight of Hydraulic System as Compared to Electrical System
- Avoiding Leakages Completely- Affecting the Safety of Aircraft
- Arkwin Industries Inc.
- Beaver Aerospace & Defense, Inc.
- Eaton Corporation PLC
- Liebherr-International AG
- Moog Inc.
- Parker Hannifin Corporation
- Safran S.A.
- Triumph Group, Inc.
- United Technologies Corporation
- Woodward, Inc.
For more information about this report visit http://www.researchandmarkets.com/research/gkw9zz/aircraft