Future Market Insights
Aircraft fluid power is the technology that deals with the control, generation and transmission of forces and movements of mechanical systems with the use of pressurized fluids in a confined system. Aircraft fluid power components are utilized in the aircraft to move and actuate the flaps, landing gear and brakes. Aircraft fluid power components system complexity varies from small aircrafts that require the fluid only for normal operation of wheel brakes to large aircrafts where the system is complex and large. In order to achieve the necessary reliability and redundancy, the system may consist of various subsystems. Aircraft fluid power components are generally utilized in the hydraulic as well as pneumatic systems. The pneumatic system and hydraulic system provide a means for the efficient operation of aircraft fluid power components. However, it is observed that majority of aircrafts that consists of pneumatic system utilize them only as a backup system for the operation of aircraft hydraulic power components when the hydraulic system fails. There are various components utilized in the aircraft fluid power system for the efficient operation of the aircrafts, such as pumps, valves and reservoir. Various types of reservoirs are used depending upon the requirements, which include pressurized and non-pressurized reservoirs. Numerous kinds of pumps are available in the market based on the application, which include power-driven pumps, constant-displacement pumps, gear-type power pump, gerotor pump, piston pump and vane pump.
Global Aircraft Fluid Power Components Market: Segmentation
Globally, the aircraft fluid power components market can be segmented on the basis of product type and application.
Based on the product type, the global aircraft fluid power components market can be segmented into
Based on the application, the global aircraft fluid power components market can be segmented into
Global Aircraft Fluid Power Components Market: Dynamics
The expansion of aviation industry and competition among the aircraft manufacturers have been intensified. At present, travelling in an aircraft is not merely a luxury option, large number of people prefer the aircraft as a convenient mode of transportation. Various Governments across the globe are strengthening their air-defence sector and there is an ever-increasing demand for aircrafts as well as aircraft fluid power components both in military and commercial sectors. With growing demand for aircrafts, market for aircraft fluid power components is expected to witness significant growth over the coming years.
On the other hand, for the efficient operation of aircrafts and effective utilization of aircraft fluid power components, trained workforce is a prerequisite. Hence, the lack of skilled labour is projected to hinder the growth of the market.
The main challenges identified in the global aircraft fluid power components market include various factors such as accuracy and speed of operation, atmospheric condition, economic conditions, operating temperature range, pressure level and many others.
Most of the aircraft fluid power components manufacturers involve in contracts and merger & acquisition activities in order to expand their reach in developing nations. Providing quality and cost effective components is one of the main strategies followed by the key manufacturers in order to gain high market share.
Global Aircraft Fluid Power Components Market: Region-wise Outlook
Considering regions, the global aircraft fluid power components market is dominated by developed regions such as Europe and North America owing to the presence of developed aerospace industry, which represent major market share in the global market. Asia-Pacific is expected to gain a major market share in the near future owing to the rising infrastructural activities in developing countries such as China and India.
Global Aircraft Fluid Power Components Market: Market Participants
Some of the examples of the market participants in the Aircraft Fluid Power Components market identified across the value chain include Eaton, United Technologies, Parker Hannifin Corp., Liebherr Group, American Micro Products, Inc., Woodward, Inc., Triumph Group, Inc. and Moog Inc. among others.
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