Market Research Report
Aerospace Fluid Conveyance Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
|Aerospace Fluid Conveyance Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026|
Published: November 26, 2021
Content info: 146 Pages
Delivery time: 1-2 business days
Fluid conveyance systems are one of the most critical components in an aircraft in order to perform functions, such as ventilation, pressurization, fluid, water & fuel flow, humidity or containment control, anti-icing, noise attenuation, and controlling heating & cooling. Aircraft fluid conveyance system primarily includes hoses, tubes, and metallic and composite ducts (high-pressure and low-pressure ducts.
The aerospace industry faced consecutive setbacks with the best-selling aircraft B737 MAX's grounding in 2019, followed by the ravaging pandemic in 2020, leaving the stakeholders stunned with outlandish losses. The unforeseen and dire circumstances momentarily shook the industry stakeholders forcing them to resort to extreme measures and reorient their age-old strategies in order to ensure survival and long-term stability.
The aerospace fluid conveyance systems, a sizeable market, could not escape from such trends and witnessed a colossal decline (-27% in 2020) amid the pandemic. However, as the buoyant aerospace industry gradually heads towards the path of healing, a similar impact is likely to be felt in the aerospace fluid conveyance systems market, which is likely to recoup from 2021 onwards, marking a healthy CAGR of 8.2% during 2021-2026 to reach US$ 4.5 Billion by 2026.
Based on the product type, the aerospace fluid conveyance systems market is segmented as hose assemblies, duct assemblies, and tube assemblies. Duct assembly took the throne in 2020 with the highest share in the market. Ducts are situated throughout the aircraft, from the engine through the fuselage to the leading edges of the wings and the tail of the aircraft. Between low-pressure and high-pressure, high-pressure ducts dominate the aerospace industry.
Based on the material type, we have segmented the market as nickel-chromium alloys, titanium & alloys, steel & alloys, composites, Teflon, and others. Nickel-Chromium alloys held an irrefutable lead in the market in 2020. Nickel-Chromium alloys offer several advantages, such as high strength, excellent fabricability, outstanding corrosion resistance, and ability to withstand at cryogenic to 1800°F (982°C). Composites are rapidly gaining traction in low-temperature and high-pressure applications, such as APU inlet, ECS inlet plenum, and APU plenum.
With the lowest decline in the demand for aerospace fluid conveyance systems by the pandemic, Asia-Pacific is expected to remain the fastest-growing region in the market during the forecast period. On the other hand, North America is likely to take lead in the market, driven by the aerospace hub, the USA. The North American market is relatively more consolidated as compared to Europe, with the presence of global players, such as Exotic Metals (Parker-Hannifin), Arrowhead Products, Triumph Group, Unison Industries, and ITT Inc.
The supply chain of this market comprises raw material manufacturers, fluid conveyance system manufacturers, aircraft engine OEMs, aircraft OEMs, and airline companies.
The key aerospace engine manufacturers are:
The key fluid conveyance system manufacturers for the aerospace & defense industry are:
New product development, the formation of long-term contracts, and collaboration with OEMs are the key strategies adopted by the key players to gain a competitive edge in the market.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's Aerospace Fluid Conveyance Systems market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research's internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report: