Aerospace Fluid Conveyance Systems Market Size to reach US$ 5.0 billion in 2024
February 04, 2020
The Aerospace & Defense Fluid Conveyance Systems Market is likely to grow at a healthy rate over the next five years to reach US$ 5.0 billion in 2024. Increasing production rates of commercial and regional aircraft, rising aircraft fleet size, increasing demand for lightweight fluid conveyance systems, and advancement in fluid conveyance technology to address the emerging requirements for the development of high-thrust turbofan engines are major growth drivers of the market. The fluid conveyance system manages and distributes fluids in the low- as well as high-pressure and high-temperature areas of fixed-wing and rotary wing aircraft for civil and military applications.
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Aerospace & Defense Fluid Conveyance Systems Market Segment Insights:
By Aircraft Type:
The commercial aircraft is projected to remain the largest and fastest-growing segment of the aerospace & defense fluid conveyance systems market during the forecast period, driven by increasing production rates of the best-selling aircraft, such as A320 family, B737, B787, and A350XWB and rising aircraft fleet size. Composite materials will continue to gain market traction over the next five years by replacing metals, such as aluminum and stainless steel.
By Product Type:
Hoses are designed to convey fluids to components, valves, actuators, and tools. A hose is typically flexible, often reinforced and usually constructed with several layers of reinforcement. Teflon, rubber, kevlar, thermoplastic, and stainless steel are the key materials used to manufacture hoses.
By Region:
North America is expected to remain the largest market for global aerospace & defense fluid conveyance systems over the next five years. The region is the manufacturing capital of the aerospace & defense industry with the presence of several major players, such as Boeing, Lockheed Martin, and Bombardier and the presence of major fluid conveyance manufacturers. Asia-Pacific is likely to experience the highest growth, driven by the commencement of commercial and regional aircraft manufacturing in China and Japan, the introduction of offset policy, and increasing defense spending.
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