PUBLISHER: The Insight Partners | PRODUCT CODE: 1874035
PUBLISHER: The Insight Partners | PRODUCT CODE: 1874035
The Aircraft Valve Market is anticipated to grow from US$ 4.65 billion in 2024 to US$ 6.34 billion by 2031, reflecting a CAGR of 5.08% during the period from 2031 to 2031.
A significant trend influencing the aircraft valve market is the increasing demand from MRO (Maintenance, Repair, and Overhaul) operations, driven by the global rise in aircraft operations. Additionally, the growing number of aging aircraft fleets that require consistent maintenance is expected to further propel the aircraft valve market from 2023 to 2031.
Aircraft Valve Market Analysis
The global aerospace and defense sector includes numerous established aircraft original equipment manufacturers (OEMs) that hold a substantial share of the aircraft market. With a wide array of aircraft valve manufacturers, both large and small, aircraft manufacturers possess considerable bargaining power to acquire high-quality valves at competitive prices. Consequently, the bargaining power of buyers in the aircraft valve market leans towards the buyers, influenced by their functional needs and the abundance of suppliers. This buyer power is projected to remain strong throughout the forecast period, driven by advancements in OEM and aircraft components.
Aircraft Valve Market Overview
The increasing acquisition of new aircraft and the growing demand for MRO services from both commercial and military sectors are expected to boost the demand for aircraft valves in the upcoming years. Many aircraft valve manufacturers are concentrating on sourcing components from raw material suppliers and providing assembled valves to aircraft OEMs and MROs. Major aircraft OEMs, such as Boeing, Airbus, and Universal Helicopters, integrate these valves into their aircraft for both commercial and military customers. MROs like AAR Corporation and Lufthansa Technik deliver various maintenance, repair, and overhaul services to these end users. The growth of the aircraft valve market can be attributed to several key factors:
Strategic Insights
Drivers and Opportunities in the Aircraft Valve Market
Rising Airplane Deliveries Globally
The continuous increase in aircraft deliveries is a primary driver of the global aircraft valves market. For example, Boeing and Airbus delivered approximately 1,263 commercial aircraft in 2023, up from 1,141 in 2022. Additionally, the rising demand for military aircraft significantly supports the integration of valves within the aviation sector.
Growth in the Aviation MRO Sector Presents Future Opportunities
The expanding aircraft MRO industry is expected to create substantial opportunities for market players during the forecast period. This growth is further supported by the increasing global aircraft fleet, which generates ongoing demand for MRO operations due to continuous flight activities. The necessity for regular maintenance checks on existing operational aircraft fleets is likely to create additional demand for aircraft valves in the coming years.
Aircraft Valve Market Report Segmentation Analysis
Key segments contributing to the Aircraft Valve Market analysis include product type, valve type, aircraft type, end user, and geography.
Geographical Analysis of the Aircraft Valve Market
The geographic scope of the Aircraft Valve Market report is divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America led the Aircraft Valve Market in 2024, while the Asia Pacific region is expected to experience significant growth during the forecast period. Factors such as increasing air passenger traffic, airlines' demand to replace aging fleets, and a growing backlog of aircraft orders are key drivers for the aircraft valve market in North America. Consequently, airplanes are a preferred mode of domestic transport among the North American population, leading to higher air passenger traffic in the region. This demand is supported by robust economic conditions in North America, resulting in increased consumer spending on travel, which in turn drives the need for aircraft manufacturing and the integration of aircraft valves.
Recent Developments in the Aircraft Valve Market
The Aircraft Valve Market is assessed through qualitative and quantitative data collected from primary and secondary research, including significant corporate publications, association data, and databases. Below are some recent developments and strategies in the aircraft valve market:
Scope of the Aircraft Valve Market Report
Coverage and Deliverables of the Aircraft Valve Market Report
The "Aircraft Valve Market Size and Forecast (2021-2031)" report offers a comprehensive analysis of the market, covering the following areas: