According to The Business Research Company’s Aerospace Valves , The aerospace valves market size has grown strongly in recent years. It will grow from $12.16 billion in 2023 to $12.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growth in the aerospace industry, increased air travel, stringent safety regulations, expansion of space exploration activities and satellite deployments, increasing demand for fuel-efficient aircraft.
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The aerospace valves market size is expected to see strong growth in the next few years. It will grow to $16.64 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.The growth in the forecast period can be attributed to increasing focus on lightweight and compact valve designs, growth in the unmanned aerial vehicle (uav) and drone, adoption of smart and connected valve technologies for real-time monitoring, expansion of the commercial space industry, growing demand for butterfly valves in various applications, increasing demand for forced induction devices.
Major trends in the forecast period include development of environmentally friendly and sustainable valve materials, integration of 3d printing technology, emphasis on predictive maintenance capabilities, collaboration between aerospace companies and valve manufacturers, increasing use of advanced coatings for improved durability and performance.The increasing global commercial aircraft fleet is expected to propel the aerospace valves market. The growing number of air passengers has widely increased the acquisition of commercial aircraft across the globe. The increasing acquisition of new aircraft by aerospace transport companies across the globe is expected to boost demand for aerospace valves, as they are a vital component in the majority of critical infrastructure across the aircraft. For instance, In June 2021, United Airlines, a US-based airline company, planned to order 270 aeroplanes for the post-COVID growth plan. And In May 2021, Airbus, an aerospace company, announced that it would increase the production of its A320 planes. Therefore, the increase in the global commercial aircraft fleet is expected to boost demand for aerospace valves market during the forecast period.
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The aerospace valves market covered in this report is segmented –
1) By Type: Butterfly Valves, Rotary Valves, Solenoid Valves, Flapper-nozzle Valves, Poppet Valves, Gate Valves, Ball Valves, Other Types
2) By Material: Stainless Steel, Titanium, Aluminum, Other Materials
3) By Application: Fuel System, Hydraulic System, Environmental Control System, Pneumatic System, Lubrication System, Water & Wastewater System
4) By End Use: OEM, Aftermarket
Additive manufacturing is a key trend gaining popularity in the aerospace valves market. 3D printing is an additive manufacturing technique that creates a physical object from a digital design. The manufacturing process involves laying down a layer of material in the form of liquid, powered plastic or other through the input from digital design software. The companies operating in the aerospace valves sector are increasingly utilizing 3D printing technologies to develop unibody and fuselage design and production. For instance, In July, Honeywell International Inc., a US-based conglomerate corporation launched a bleed pressure regulating valve from 3D printing manufacturing process, which will be installed in military trainer aircraft.
The aerospace valves market report table of contents includes:
- Executive Summary
- Aerospace Valves Market Characteristics
- Aerospace Valves Market Trends And Strategies
- Aerospace Valves Market – Macro Economic Scenario
- Global Aerospace Valves Market Size and Growth
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- Global Aerospace Valves Market Competitive Benchmarking
- Global Aerospace Valves Market Competitive Dashboard
- Key Mergers And Acquisitions In The Aerospace Valves Market
- Aerospace Valves Market Future Outlook and Potential Analysis
- Appendix
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