The Aircraft Hydraulic System Market is expected to grow at CAGR of 5.2% during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Aircraft Hydraulic System Market
Aircraft Hydraulic System Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The growing demand for extremely unswerving system, low-cooling cost due to low amount of heat generation, higher power-to-weight ratio of hydraulic systems, and their wide array of load handling capacity are the prime factors expected to underpin the growth of the aircraft hydraulic system market during the forecast period.
In terms of regions, North America is expected to command the aircraft hydraulic system market during the forecast period. The market is driven by the regional presence of a host of Original Equipment Manufacturers (OEMs) and key market players, such as Parker Hannifin Corporation (U.S.), United Technologies Corporation (U.S.), and Woodward, Inc. (U.S.). On the other hand, the Rest of the World is estimated to emerge out as the fastest-growing market for aircraft hydraulic system in the coming five years. This unprecedented high growth can be attributed to the presence of a large number of OEMs, such as Piaggio Aerospace (UAE) and Embraer S.A. (Brazil), coupled with the technological upgrades from conventional hydraulic systems to advanced systems in the region.
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Market Scope & Segmentation
Aircraft Hydraulic System Market Share: By Type
Based on the type, the market is segmented as a closed-center hydraulic system and open-center hydraulic system. The closed center hydraulic system segment is estimated to register higher growth during the forecast period. This growth can be attributed to the fact, pilots rely on a hydraulic system to operate systems, such as nose wheel steering, wheel brakes, flight control surfaces, landing gear operation, propeller pitch controls, and cargo doors.
Aircraft Hydraulic System Market Share: By Component Type
Based on the component type, the market is segmented as reservoir, filters, pumps, valves, accumulators, actuators, hydraulic fluid, and hoses, pipes & connectors. The pumps segment is estimated to depict the highest growth in the coming five years, as pumps are the vital components of the aircraft hydraulic system. The growth of the segment is driven by an expected increase in the usage of pumps in new aircraft, owing to the reduction in the overall weight of an aircraft, which can be accomplished by using pumps. Further, pumps deliver high pressure of fluid even in very thin pipelines, and this is one of the major factors expected to bolster the growth of the pumps segment during the forecast period.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2021-2026. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.