Aerospace Valves Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Aircraft Valves Market is anticipated to grow at a CAGR of 4.1% during the forecast period.

Key Highlights

• The decrease in the COVID-19 pandemic had increased passenger numbers at the airport. Removal of border restrictions by various governments, as well as ease in restrictions for travel, was the main factor for such growth, and this has led to various aircraft OEMs being able to increase production of the aircraft and meeting the delivery timelines, which has, in turn, led to an increase in the demand for aircraft valves. In addition, opening the barriers by various countries also led to free flow in terms of the supply of the necessary components required to produce aircraft valves. This has resulted in the aircraft valves market witnessing steady growth during the forecast period.
• An increase in the number of air passenger traffic worldwide has led to increased stress on airports globally to cope with the rise in passenger demand. Various aircraft OEMs are now increasing the production of the new generation of aircraft and are trying to meet their aircraft delivery deadlines. Moreover, an increasing global commercial aircraft fleet size due to rising air passenger traffic is giving an impetus to the replacement demand for aerospace valves, especially from maintenance, repair, and overhaul companies. Aerospace valves are exposed to wear and tear during continuous flight operations and are generally replaced rather than repaired. Currently, there is also a significant market opportunity to integrate the Internet of Things (IOTs) among aerospace valves to improve performance, enhance reliability, smooth functioning, and significantly reduce lifecycle costs. Proactive failure detection and predictive maintenance record with IOTs help in proper and timely repairs to the valves, thereby enabling better discrete functioning with effective data-based decision-making.

Aerospace Valves Market Trends

The Butterfly Valve Segment Is Expected To Grow Significantly During The Forecast Period

Based on type, the butterfly valve segment is expected to grow significantly during the forecast period. The growth can be attributed to the extensive usage of butterfly valves in various applications such as the fuel system as well as the pneumatic system of the aircraft. Moreover, these valve systems have a compact size, fewer space requirements, and ease of usage, making them the apt choice to be used in the aviation industry. The butterfly valves were mainly used where a tight closure was not necessary, but on the other hand, currently, these valves are manufactured with tight seals made of rubber or elastomeric materials. In modern times, butterfly valves are used where there is limited space in the fluid ports in the aircraft body. Unlike gate valves, butterfly valves are typically used for throttling or regulating flow in fully open and fully closed positions. The pressure loss through a butterfly valve is small compared to the gate valve. These valves are qualified and used in military applications, helicopter applications, and almost all zones on turboprop and turbofan aircraft ranging from the engine compartment to the tailbone. The increased number of investments in the aviation industry, increased demand for forced induction devices, and a rise in the adoption of aircraft hybrid engines will lead to growth in the market in the years to come.

The United States Is Expected To Be The Largest Market During The Forecast Period

The United States is expected to be the largest market during the forecast period. The Key factor responsible for growth within the United States is the presence of many aircraft valve manufacturers. Moreover, the United States is backed by strong industry intelligence, making it a hub of the aviation industry, from component manufacturing to aircraft assembly. Additionally, there is a growing need for lightweight and high-performance aircraft valves in the region to support the demand from modern aircraft platforms such as Boeing 777x, Airbus 220, and Boeing 737 MAX.

The United States is also witnessing a rise in aircraft orders. Various airline companies within the United States are now focused on ordering new aircraft which is more fuel efficient and environmentally friendly. Companies such as United Airlines in September 2022 announced that they are negotiating with Boeing and Airbus for a sizeable wide-body aircraft order which they may place by the end of 2022. This has been done for United Airlines to expand its fleet. United Airlines already had orders for Airbus A350 aircraft, which was initially placed in 2010. The original order was for 25 Airbus A350-900 aircraft. By 2017, the order had been modified multiple times, and the airline changed its existing order from 35 A350-1000 to 45 A350-900 aircraft. Moreover, in December 2019, United announced that it was deferring its first delivery of the A350-900. As of the present scenario, the airlines still have an existing order for those 45 A350-900s aircraft. Thus, the increasing demand for commercial aircraft within the United States and the presence of leading aircraft valve manufacturers such as Honeywell International, Triumph Group, and Collins Aerospace will witness significant growth during the forecast period.

Aerospace Valves Market Competitor Analysis

Some of the most prominent players in the aircraft valves market are Eaton Corporation PLC, Safran SE, Woodwork Inc., Triumph Group, and Sitec Aerospace GmbH, amongst others. Various companies are now focused on growth strategies, including developing and launching new advanced products, product approvals, and patents. Thus, implementing and integrating technologies, such as the Internet of Things (IoT), will provide advanced capabilities for the newer generation of aircraft produced by OEMs.

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