Aerospace Fluid Conveyance Systems Market is Forecast to Reach US$ 5.1 Billion in 2028, Says Stratview Research

The Aerospace Fluid Conveyance Systems market is likely to rise at a CAGR of 8.5% during 2023-2028, to reach US$ 5.1 billion in 2028, states Stratview Research.

DETROIT, July 3, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the global Aerospace Fluid Conveyance Systems market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Aerospace Fluid Conveyance Systems Market

The global Aerospace Fluid Conveyance Systems market is segmented based on platform type, product type, material type, application type, and region.

Based on the product type- The aerospace fluid conveyance systems market is segmented into hose assemblies, duct assemblies, and tube assemblies. Duct assemblies took the throne in 2022 with the highest share in the market. Ducts are situated throughout the aircraft, from the engine through the fuselage to the leading edges of the wings and the tail of the aircraft. Between low-pressure and high-pressure, high-pressure ducts dominate the aerospace industry.

Based on the material type- We have segmented the market as nickel-chromium alloys, titanium & alloys, steel & alloys, composites, Teflon, and others. Nickel-Chromium alloys held an irrefutable lead in the market in 2022. Nickel-Chromium alloys offer several advantages, such as high strength, excellent fabricability, outstanding corrosion resistance, and the ability to withstand at cryogenic to 1800°F (982°C). Composites are rapidly gaining traction in low-temperature and high-pressure applications, such as APU inlet, ECS inlet plenum, and APU plenum.

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Which Region Offers the Best Opportunity and Growth?

The report suggests that North America is expected to remain the largest market for aerospace fluid conveyance systems during the forecast period. This growth is majorly attributed to the following –

• Driven by the aerospace hub, the USA.
• The North American market is relatively more consolidated as compared to Europe, with the presence of global players, such as Exotic Metals (Parker-Hannifin), Arrowhead Products, Triumph Group, Unison Industries, and ITT Inc.

Likewise, the Asia-Pacific is expected to remain the fastest-growing market during the forecast period, with the highest growth (YoY) in the demand for aerospace fluid conveyance systems in 2022.

Aerospace Fluid Conveyance Systems Market Drivers

Some of the key reasons that are propelling the growth of the market include-

• Increasing urbanization and per capita income that has supported air transportation, especially in developing nations.
• Stringent safety regulations of the aerospace industry demand high-quality, certified fluid conveyance systems to meet high standards ensuring the safety and reliability of aircraft.
• Increasing demand for energy efficiency of a plane due to the rising fuel costs and environmental concerns related to air travel.

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Top 5 Companies in Aerospace Fluid Conveyance Systems Market

The market is fairly consolidated with the presence of some global and regional players. Stratview Research has identified the following companies as the top market players.

• Eaton Corporation Plc
• Parker-Hannifin Corporation (Exotic Metals, and Meggitt Plc)
• Hutchinson PFW Aerospace GmbH
• Smith Group Plc
• Senior Plc

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• Aerospace Duct Assemblies Market
• Aerospace Tube Assemblies Market

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