Expanding at a CAGR of 3.4%, the global aerospace fluid conveyance market is projected to increase from a valuation of US$ 3,027.8 Million in 2023 to US$ 4,230.0 Million by 2033. The increasing Air transportation is currently fuelling the market growth.
| Attributes | Details |
|---|---|
| Market Size 2022 | US$ 2,956.9 Million |
| Market Size 2023 | US$ 3,027.8 Million |
| Market Size 2033 | US$ 4,230.0 Million |
| Value CAGR (2023 to 2033) | 3.4% |
A fluid conveyance system is made up of components that are used to transport critical gases and liquids throughout an aircraft. For both civil and military aviation, these are the key components that are controlling and managing the flow of fluids in low and high pressure and temperature sections of rotary winged and fixed winged aircraft.
The fluid conveyance system includes bellows, joints, tube fittings, couplings, flanges, and ducts, that are some of the most important components. Each component is placed in the appropriate location on the aircraft to carry out its vital function.
For instance, by application type the two main classifications for duct systems are high pressure and low pressure application. While low pressure ducts are used in low pressure and low temperature areas, such as the transition duct, cabin sidewall riser duct, windscreen demisting, flight deck air distribution, flight deck instrumentation cooling, avionics ventilation, cabin recirculation, and air conditioning supply, high pressure duct systems deploy components throughout the entire aircraft, from leading edges of the wings through the fuselage and engines.
Some of the key reasons that are propelling the growth of the market includes increasing urbanization and per capita income that has supported the Air transportation, especially in the developing nations. Apart from that increasing energy efficiency of a plane the demand for energy efficient components is also increasing, that is expected to fuel the market growth in during Assessment period.
The sales of Aerospace Fluid Conveyance showed a historical growth rate of less than 2.2% CAGR between 2018 to 2022, the primary factor behind the steady growth in sales was COVID pandemic that has not only affected passenger traffic but air cargo traffic as well, however post COVID the market has regained its pre-COVID growth and the overall demand had experienced V shape recovery.
The Demand for the Aerospace fluid is expected to drive by the ongoing developments in the aerospace industry to reduce the weight of the plane and enhance the overall efficiency of the aircraft. The aircraft manufacturers are moving towards light weight and energy efficient components. As a result, FMI’s Global Aerospace Fluid Conveyance demand projection predicts a CAGR of 3.4% by 2033.
As the fluid conveyance are crucial components for an aircraft to operate efficiently and with the rise of international travel, increasing commercial aircraft fleet sizes, and expanding global and local aircraft deliveries are the main reasons driving the demand for fluid conveyance in the aircraft industry.
The Aircraft manufacturers are continuously developing and creating changes in aeroplane engine technologies to reduce overall carbon emission generated from air transportation which is pushing the component manufacturers to redesign ducting system with advanced materials in order to withstand during the operations in high or low pressure, the overall market growth is directly linked with such continuous technological development in aerospace industry.
The market for aerospace fluid conveyance is also being driven by an increase in demand for air travel. As road congestion, especially in urban areas, gets worsen, now a days people are looking for less time-consuming ways to get to their destinations, which is causing the global air passenger traffic to grow with incremental rate. According to the ICAO's most recent analysis, aircraft flight departures increased by 30% while the number of passengers carried increased by 65% between January and April 2022 compared to the same period in 2021. The demand for aerospace fluid conveyance in the market will rise as a result of the increased demand for Aircraft production due to the improved air travel experience.
The key trend that is impacting the market for aerospace conveyance demand is manufacturers are involved in developing fluid conveyance components with different material category for specific application for example Stainless steel alloys and Titanium alloys are used for high pressure application whereas composite materials are used for low pressure applications, which is enhancing the popularity of targeted products amongst the aircraft manufacturer and M.R.O. service providers.
Over the forecast period, the global market for Aerospace Fluid Conveyance is anticipated experience significant demand growth. Europe and North America are anticipated to hold prominent market share in the global market, as these regions have high adoption of aircraft during the assessment period.
The USA is leading country in terms of commercial as well as military aircraft fleets across the globe, that is the prime reason supporting the excessive demand generating from USA, apart from that, many prominent aircraft manufacturers have production plants in USA, that is the key factor driving the demand for aerospace fluid conveyance in the region.
The targeted market is also anticipated to grow significantly in East Asia. The expansion of the market is primarily due to an increase in commercial aircraft deliveries in the East Asia region. This is a result of the expansion of the commercial aircraft fleet to handle the rising passenger traffic in the area, an increase in the number of significant aircraft OEMs operating in the area, as well as the entry of new competitors like COMAC, to lessen reliance on Boeing and Airbus. This has a positive impact on the region's demand for new aerospace fluid conveyance.
Key players operating in the Global Aerospace Fluid Conveyance market include Parker Hannifin Corp, EATON CORPORATION, Senior plc, Flexfab Horizons International, Inc., Unison, LLC, Senior plc, PFW Aerospace GMBH, Boing, Gulfstream Aerospace Corporation, Amcraft Manufacturing, Smiths Group Plc, Stelia Aerospace, Textron Aviation Inc. and other
The global market for fluid conveyance system is highly fragment with leading players accounting for around one fourth of the market share. The market has presence of several local manufacturers that are enhancing the competitiveness of the market, the prominent manufacturers are focusing on product innovation in order have an upper hand over other competitors.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.4% from 2022 to 2032 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Component, Application, Aircraft type, End-Use, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, South Africa, Northern Africa, GCC Countries, Türkiye, Australia |
| Key Companies Profiled | Parker Hannifin Corp; EATON CORPORATION; Senior plc; Flexfab Horizons International, Inc.; Unison, LLC; Senior plc; PFW Aerospace GmbH; Boing; Gulfstream Aerospace Corporation; Amcraft Manufacturing; Smiths Group Plc; Stelia Aerospace; Textron Aviation Inc. |
| Customization & Pricing | Available upon Request |
In 2022, the value of the Global Aerospace Fluid Conveyance market reached over US$ 2,956.9 Million.
During the forecast period, the Global Aerospace Fluid Conveyance market is estimated to expand at a CAGR of 3.4% during 2023 to 2033.
The Global Aerospace Fluid Conveyance market is projected to reach US$ 4,230.0 Million by the end of 2033.
North America and the East Asia are projected to lead the Global Aerospace Fluid Conveyance market in the forecast period.
The key players operating in the Global Aerospace Fluid Conveyance market are Parker Hannifin Corp, EATON CORPORATION, Senior plc, Flexfab Horizons International, Inc., and Unison, LLC.
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Aerospace Fluid Conveyance System Market
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