Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 165 | Code: MRS - 828590
The aerospace & defense fluid conveyance systems market is set for rapid growth over the forecast period. In terms of revenue, the global aerospace & defense fluid conveyance systems market accounted for USD 18.1 Billion in 2019 and is anticipated to reach around USD 22.6 Billion by 2026, growing at a CAGR of 3.2%.
Global Aerospace & Defense Fluid Conveyance Systems Market: Overview
Fluid conveyance systems disperse and control fluids or liquids in high and low temperature and pressure areas in rotary and fixed-wing aircraft for military and civil applications. Low-pressure ducting, hoses, high-pressure ducting, tubing, and other parts make up the fluid conveyance system. Fluids are transported via tubes and hoses to pipes, parts, equipment, and actuators. The main raw materials used in hose production include Kevlar, Teflon, stainless steel, and thermoplastic.
Global Aerospace & Defense Fluid Conveyance Systems Market: Growth Factors
The demand for aerospace & defense fluid conveyance systems is expected to rise steadily due to growth in the aviation industry. This is expected to boost the growth of the aerospace & defense fluid conveyance systems industry in the region during the forecast period. Major growth factors of the industry include growing regional and commercial aircraft production rates, increasing demand for the aircraft fleet size, lightweight fluid conveyance systems, and innovations in fluid conveyance technology to meet evolving requirements for the development of high-thrust turbofan engines. Fluids are controlled and distributed in medium, elevated, and high-pressure, and high-temperature areas in fixed-wing and rotary-wing aircraft for civil and military applications through the fluid conveyance system. The industry's growth will be primarily driven by increased demand, especially for regional jets and commercial aircraft around the world. Continuous growth in the defense sector, especially in developed countries, has resulted in increased demand for military aircraft, resulting in increased revenue. Manufacturers will be forced to build improved lightweight conveyance solutions for handling and controlling fluids in high and low-pressure areas as demand grows. Over the projected period, this would have a favorable effect on the aerospace and defense fluid conveyance systems industry. In addition, the global aerospace & defense fluid conveyance systems market may be hampered by composite material recyclability problems, as well as a bottleneck of aircraft deliveries. The growth in commercial aviation, and expanding aircraft fleet, and technical advances have all fueled demand for aerospace and defense fluid conveyance systems around the world. The global aerospace and defense fluid conveyance systems industry is expected to benefit from the rising demand for advanced military and commercial aircraft in the future.
Global Aerospace & Defense Fluid Conveyance Systems Market: COVID-19 Impact
The global aviation market has been impacted by the cessation of commercial air traffic after the pandemic. To mitigate the effect of COVID-19 on the aviation industry, the United States, the United Kingdom, Italy, India, and China have launched stimulus programs. OEMs of fluid conveyance systems for aerospace and defense are having operating issues, resulting in lower demand for the material. The aerospace and defense fluid conveyance systems industry is suffering as a result of COVID-19. Aircraft orders and replacements have been placed on hold indefinitely as airline firms struggle to remain afloat. Fluid conveyance system vendors in the aerospace and defense industries will have to build alternatives based on the rate of containment recovery. The COVID-19 has had a major impact on global economic growth, pushing organizations, people, companies, and policymakers to respond to the crises' challenges. Various countries' air traffic controls have resulted in idle fleets on both domestic and foreign routes all around the world. The COVID-19 pandemic has had a major influence on the fluid conveyance systems industry in aerospace and defense, as well as many other sectors. COVID-19's Coronavirus epidemic in 2020 has had an effect on the global economy and market conditions in major industries around the world. Demand instability, trade practices, manufacturing systems, and other causes of global lockout have all been hampered by the pandemic scenario. The COVID-19 outbreak has put a stop to the remainder of the aircraft industry. A supply-demand deficit in the aerospace material industry has been hampered by available inventory stocks in the MRO and OEM sectors, as well as production units. Furthermore, Owing to lockdowns in numerous countries, aircraft deliveries in the first and second quarters of 2020 have been suspended. During COVID-19 lockdowns, the aerospace and defense fluid conveyance systems market experienced a supply and demand void. Even though COVID-19 pathogens disperse across the workforce, plant capability can be harmed if proper preventative steps are not taken. The supply chain and logistics were also hampered by the lockdown, which prevented the supply of finished goods and the purchase of raw materials. The aerospace and defense fluid conveyance systems industry could be especially vulnerable because the bulk of the manufacturing staff operates in on-site positions that cannot be operated remotely. In addition, considering the market's demands, firms can need to investigate ways to provide social separation in cramped workplaces. The aerospace and defense fluid conveyance systems industry as a whole is expected to be impacted by trade restrictions, price volatility, supply chain instability, volatile demand, and labor shortages.
Global Aerospace & Defense Fluid Conveyance Systems Market: Segmentation
The worldwide aerospace & defense fluid conveyance systems market is segmented as aircraft, fluid, component, distribution channel, application, and region. By aircraft, the global market is bifurcated into the regional jet, commercial aircraft, military aircraft, business jet, and helicopter. By Fluid, the global market is bifurcated into pneumatic, fuel, and hydraulic. By component, the global market is bifurcated into couplings, hoses, seals, and ducts. By distribution channel, the global market is bifurcated into aftermarket and OEM. By application, the global market is bifurcated into engines and airframes. Geographically, the global market is divided into Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America.
Global Aerospace & Defense Fluid Conveyance Systems Market: Regional Analysis
The aerospace & defense fluid conveyance systems industry in North America is the largest, followed by Europe and the Asia Pacific. The market for aerospace and defense fluid conveyance systems is expected to increase as governments spend heavily on research and development in the aerospace industry. The involvement of major aircraft manufacturers such as Lockheed Martin, Boeing, and others in North America is a major factor that could help the industry expand in the near future. In the global aerospace & defense fluid conveyance systems industry, the Asia Pacific region is projected to expand at a faster rate during the forecast period, with China emerging as the leading market, led by India and Japan. The growth of the aerospace and defense fluid conveyance systems industry in the area would be aided by an increase in the number of military projects and other related initiatives.
Global Aerospace & Defense Fluid Conveyance Systems Market: Competitive Players
Some of the key players in the aerospace & defense fluid conveyance systems market are Arrowhead Products Corporation, AIM Aerospace, Encore Group, Eaton Corporation, Flexfab Horizons International, Exotic Metals Forming LLC, ITT Corporation, GKN plc, Parker Hannifin Corporation, Meggitt PLC, Senior plc, PFW Aerospace AG, Triumph Group Inc., Stelia Aerospace, United Flexible, Unison Industries, Zodiac Aerospace, and among others.
Global Aerospace & Defense Fluid Conveyance Systems Market: Regional Segment Analysis
Aerospace & Defense Fluid Conveyance Systems
Aerospace & Defense Fluid Conveyance Systems