Global Aerospace Valves Market (2021 to 2026) - Introduction of Internet of Things in Aerospace Valves Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Aerospace Valves Market by Aircraft Type, End Use (OEM, Aftermarket), Type, Application (Fuel System, Hydraulic System, Environment Control System, Pneumatic System, Lubrication System, Water & Wastewater System) Material, Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global aerospace valves market size is projected to grow from USD 11.4 billion in 2021 to USD 14.0 billion by 2026, at a CAGR of 4.1% from 2021 to 2026.

Environment control system: The largest segment of the aerospace valves market, by application.

Based on application, the environment control segment is expected to be the largest market by value. The growth of the environment control system segment of the aerospace valves market can be attributed to the many sub-systems it comprises of such as air supply, thermal control, cabin pressurization, avionics cooling, smoke detection and fire suppression. Aerospace valves are also used in other important systems such as pneumatic systems, hydraulic systems, fuel systems. Aerospace valves used in the lubrication system keeps the oil pressure in check, whereas in water and wastewater system, valves allow the flow of potable water to the water distribution system that is then used by passengers and crew onboard.

Butterfly Valves: The highest revenue segment of the aerospace valves market, by type.

Based on type, the Butterfly Valves segment is projected to be the highest CAGR for the aerospace valves market during the forecast period. The growth of the Butterfly Valves segment of the aerospace valves market can be attributed to the extensive usage in various applications due to their compact size, less space requirements, and ease of use. These are used commonly in the fuel systems and pneumatic systems of aircraft.

Stainless-Steel: The highest revenue segment of the aerospace valves market, by material.

Based on material, the stainless-steel segment is projected to have the highest share of revenue in the aerospace valves market. The extensive use of stainless steel for manufacturing aerospace valves can be attributed to its properties and advantages such as easy availability, low cost, resistance to heat and good strength. It is used in high applications where there is a higher chance of corrosion, high operating temperature.

Unmanned Aerial Vehicles: The fastest-growing segment of the aerospace valves market, by aircraft type.

Based on the aircraft type, the fixed wing aircraft segment is projected to have the highest revenue in the aerospace valves market during the forecast period. Fixed wing aircraft segment consists of commercial aviation, business and general aviation and military aviation. The fixed wing segment consists of the greatest number of aircrafts in terms of absolute numbers. However, the Unmanned Aerial Vehicles segment is projected to have the highest CAGR in the aerospace valves market. This is due to the increasing usage of drones, and other UAVs for applications such as surveillance and last mile delivery. Several start-ups are now focusing on developmental projects such as UAVs, resulting in a higher CAGR of UAVs.

OEM: The fastest-growing segment of the aerospace valves market, by end use.

Based on the end use, the OEM segment is projected to grow at the highest CAGR for the aerospace valves market during the forecast period. OEMs are responsible for the installation of aerospace valves in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers. Over the years, there has been a significant rise in the demand for different aircraft types across regions.

North America: The largest contributing region in the aerospace valves market.

North America is projected to be the largest regional share of the aerospace valves market during the forecast period. The key factor responsible for North America, leading the aerospace valves market owing to the presence of a large number of aerospace valves manufacturers in the region. Also, the region has been witnessing a rise in the newer aircrafts getting delivered. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aerospace valves to increase their sales year on year.

Market Dynamics

Drivers

• Increase in Global Aircraft Fleet Size
• Frequent Replacement of Aerospace Valves
• Growing Demand for Unmanned Aerial Vehicles

Restraints

• Increasing Electrification of Aircraft Systems
• Fluctuating Cost of Raw Materials

Opportunities

• Introduction of Internet of Things (Iot) in Aerospace Valves

Challenges

• Improving Operational Efficiency of Aerospace Valves

Companies Mentioned

• Aero Space Controls Corporation
• Aerocontrolex.
• Aerospace Systems and Components
• Circor International, Inc.
• Collins Aerospace
• Crane Aerospace and Electronics
• Crissair, Inc.
• Eaton
• Honeywell International, Inc.
• Liebherr
• Marotta Controls, Inc.
• Meggitt, plc.
• Moog, Inc.
• Nmg Aerospace
• Nutek Aerospace Corporation, Inc.
• Parker Hannifin Corporation
• Precision Fluid Controls
• Safran
• Sitec Aerospace GmbH
• The Lee Company
• Triton Valves Ltd.
• Triumph Group, Inc.
• Valcor Engineering Corporation.
• Woodward, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/nms037.