The aerospace valves market is poised for substantial growth, with a projected value of US$ 10.8 billion in 2023, expected to increase to nearly US$ 17.6 billion by 2033. This growth trajectory reflects a steady compound annual growth rate (CAGR) of 5% throughout the forecast period.
With the continuous growth in air travel, aircraft flying hours have notably increased, leading to wear and tear in valves. Valve life cycles are typically determined by both calendar days and flying hours, with an average MTBUR (Mean Time Between Unscheduled Removals) ranging between 9,000 and 100,000 cycles. As valves cannot be repaired, they must be replaced upon reaching the end of their useful life. These distinctive characteristics present a lucrative opportunity for aircraft OEMs.
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Market Drivers
- The surge in air travel demand and expansion of commercial aircraft fleets worldwide.
- Heightened significance of defense and military aviation on a global scale.
- Advancements in aerospace valve design and manufacturing propelled by technology.
- Growing emphasis on fuel efficiency enhancement and aircraft performance optimization.
- Expansion of the space exploration sector and escalating demand for satellite deployment.
Key Companies
- Eaton Corporation (Ireland) PLC
- Safran SE (France)
- Woodward Inc. (United States)
- Triumph Group (United States)
- Collins Aerospace
- Aero Fluid Products
- Circor Aerospace, Inc.
- Crissair, Inc.
- G.W. LISK Company, Inc.
- Cla-Val
- Parker Hannifin Corporation (United States)
- Moog Inc. (United States)
- Liebherr GmbH (Germany)
- Porvair PLC (United Kingdom)
Recent Developments
In 2020, Honeywell International Inc. unveiled its latest U-NC2 Series of pneumatic control valves, specifically engineered to meet the stringent demands of the aerospace industry. Concurrently, Airbus ramped up A320 family aircraft production to 45 per month in 2021, with plans to further increase output to 64 aircraft per month by June 2023, and ultimately to 70 aircraft per month by 2024.
Additionally, Triumph Group secured a contract renewal from Boeing Company in May 2021, entrusting them to supply essential system components for the 787 Dreamliner. This agreement encompasses a high-valve system, a geared solution, and provisions for maintenance, repair, and overhaul (MRO) services.
Moreover, Lockheed Martin Corporation awarded Triumph Group a contract in June 2021 for the delivery of hydraulic utility actuation valves (HUAVs) aimed at bolstering F-35 fleet readiness at Marine Corps Air Station (MCAS) Cherry Point.
Furthermore, in May 2021, Valcor Engineering Corporation introduced Modulating Regulate Valves (MCV), capable of precisely regulating flow in pneumatic, avionics cooling, and hydraulic systems. These versatile valves can also be employed for regulating the flow of aviation fuel and Polyalphaolefin (PAO), showcasing their adaptability across various aerospace applications.
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