Fluid conveyance system is referred to all those critical components of an engine system that helps to transfer the fuel from the fuel tank to the engine. In the aerospace industry, aerospace fluid conveyance system is referred to the components such as fuel lines, hoses, adapters, couplings, valves and others, which are used to transfer fuel and other fluids and gases throughout an aircraft, specifically in high or low temperature and pressure areas of the aircraft, such as flight deck instrumentation cooling, flight deck air distribution, cabin recirculation, cabin sidewall riser duct, transition duct and others. These components are used for different aircraft types including rotary and fixed winged aircrafts as well as helicopters in both military and civil aviation.
According to the statistics by the World Bank, the total number of passengers carried through air transport grew from 2.628 billion in the year 2010 to 4.397 billion in the year 2019.
The rising demand for air transportation can be attributed to the growing population and urbanization globally, along with the increasing disposable income of the individuals worldwide. Backed by the rising demand for air transportation, there is a growing need amongst the airline operators to expand their existing aircraft fleet. Moreover, to meet the rising demand for air transport, airline operators are also increasing the number of flights, which is raising the need for timely maintenance of these aircrafts. Such a factor is therefore anticipated to promote the growth of the global aerospace fluid conveyance system market.
The global aerospace fluid conveyance system market is anticipated to grow with a robust CAGR during the forecast period, i.e., 2021-2029. The market is segmented by aircraft type into passenger, military, and cargo aircrafts. Out of these segments, the passenger aircraft segment is anticipated to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the presence of large number of passenger aircraft fleet globally as compared to other aircraft types. Moreover, presence of a wide variety of passenger aircraft by various manufacturers, which also raises the need for different types of conveyance systems specifically designed for each different aircraft type, is also anticipated to drive the growth of the passenger aircraft system during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT
The global aerospace fluid conveyance system market is also segmented by component into bellows, fittings, ducts, joints, couplings, flanges, and others. Amongst these segments, the fittings segment held the largest market in the year 2019. Aerospace fluid fittings are the connectors which connects two or more hoses together. Also commonly known as aerospace hose fittings, or sometimes aerospace hydraulic fittings (in case of connecting two or more hydraulic hoses together), these fittings are available in different thread styles, such as 24-degree cone flareless connection fittings and nuts, 37-degree joint industry council (JIC) flared internal cone fluid connection fittings, national pipe thread (NPT), O-ring boss (ORB), hose barbs, and hose clamps among others.
The aviation and aerospace industry are advancing towards advanced engineered components that are designed with lightweight materials to enhance engine efficiency. Moreover, with the advancements in alternative fuel technology, there is a rising need amongst aircraft manufacturers for fluid conveyance systems that can enhance the flow of fluids at high temperature and pressure environment. Additionally, growing need for maintenance, repair and operations (MRO) of the existing fleet of the airline operators is also projected to drive the market growth. On the other hand, with the rising operational and maintenance cost, and the need for the reduction of such costs, airline operators and aircraft manufacturers are increasingly opting for cost reduction initiatives by collaborating with component manufacturers, who offer repair services at an affordable cost. Such factors are anticipated to drive the growth of the global aerospace fluid conveyance system market during the forecast period.
Different aerospace fluid conveyance system components often cost very high. This is due to the fluctuating price of the raw materials from which these components are made. The fluctuating prices of the raw materials also hampers the profitability of the manufacturers, which is anticipated to hamper the market growth during the forecast period.
Our in-depth analysis of the global aerospace fluid conveyance system market includes the following segments:
On the basis of regional analysis, the global aerospace fluid conveyance system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa regions.
Among these regions, the market for aerospace fluid conveyance system in North America is projected to hold the largest market share by the end of 2029 owing to the presence of several key players in the region, coupled with the presence of numerous aircraft manufacturers in the region who are opting for advanced products to further optimize the efficiency of their aircrafts. Moreover, increasing research and developments from the manufacturers of aerospace fluid conveyance system by means of collaborations and partnerships with other players in the aerospace and aviation industries are some of the additional factors anticipated to drive the market growth in North America during the forecast period.
The global aerospace fluid conveyance system market is further classified on the basis of region as follows:
FREQUENTLY ASKED QUESTIONS
Rising need for maintenance, repair and operations (MRO) of aircrafts is one of the major factors driving the market growth.
The market is anticipated to grow with a robust CAGR over the forecast period, i.e., 2021-2029.
Some of the major players in the market are Unison Industries, LLC, Senior plc, Parker Hannifin Corp., Flexfab LLC, Arrowhead Products, Meggitt PLC, and others.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The aerospace fluid conveyance system market is segmented by component, aircraft type, application, end-user, and by region.
The passenger aircraft segment, which is a sub-segment of the aircraft type segment is anticipated to hold the largest market share on account of the availability of a large number of passenger aircraft fleet when compared to other aircraft types.
Concerns for the high costs associated with aerospace fluid conveyance system components is one of the major factors estimated to act as barriers to the growth of the market.
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