New York, United States , Aug. 29, 2024 (GLOBE NEWSWIRE) -- The Global Aircraft Hydraulic Systems Market Size to grow from USD 9.1 Billion in 2023 to USD 15.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.67% during the forecast period.
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The Aircraft Hydraulic Systems Market is expanding rapidly, driven by increased demand for improved aircraft systems and rising worldwide air traffic. Hydraulic systems in aircraft are critical for a variety of functions, including landing gear, flight control surfaces, and braking systems. The market is driven by the growth of commercial aviation, the modernisation of military fleets, and the development of new aircraft models. Furthermore, the move towards more fuel-efficient and lightweight aircraft is encouraging manufacturers to improve in hydraulic technology.
Aircraft Hydraulic Systems Market Value Chain Analysis
The Aircraft Hydraulic Systems Market value chain has multiple stages, beginning with raw material suppliers who supply critical components such as hydraulic fluids, pumps, valves, and actuators. These materials are then converted into hydraulic systems by specialised companies that design and build systems specifically for different aircraft uses. OEMs integrate these systems into aircraft during assembly to ensure compatibility and performance. The value chain also comprises distributors and suppliers, who handle the logistics and delivery of these systems to OEMs and maintenance facilities. Aftermarket services, such as maintenance, repair, and overhaul (MRO), play an important part in the value chain by guaranteeing the lifespan and reliability of hydraulic systems throughout an aircraft's operational life. Continuous innovation and collaboration across the value chain promote efficiency and technological growth.
Aircraft Hydraulic Systems Market Opportunity Analysis
The Aircraft Hydraulic Systems Market is poised for significant expansion, driven by increased demand for new, fuel-efficient aircraft and the modernisation of ageing fleets. As airlines strive for better performance and lower environmental impact, there is an increasing demand for innovative hydraulic systems that are lighter, more efficient, and capable of supporting cutting-edge aircraft technologies. The growth of the worldwide aviation industry, particularly in growing markets such as Asia-Pacific and the Middle East, boosts market potential. Furthermore, the growing emphasis on electric and hybrid-electric aircraft creates opportunity for novel hydraulic solutions customised to these new platforms. The aftermarket industry, which includes maintenance, repair, and overhaul (MRO) services, also presents attractive opportunities as airlines strive to extend the life of their existing aircraft.
Browse key industry insights spread across 250 pages with 110 Market data tables and figures & charts from the report on the "Global Aircraft Hydraulic Systems Market Size, Share, and COVID-19 Impact Analysis, by Type (Closed-center, Open-center), End-user (Line-fit, Retrofit), Platform (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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Insights by Type
The closed center segment accounted for the largest market share over the forecast period 2023 to 2033. A closed centre system directs hydraulic fluid only when necessary, reducing energy consumption and heat generation, resulting in increased system efficiency and lifetime. This section is becoming increasingly popular in modern aircraft designs, particularly for bigger commercial and military aircraft that require more complicated and dependable hydraulic operations. The march towards more energy-efficient and responsive aircraft systems accelerates the adoption of closed centre arrangements. Furthermore, advances in hydraulic technology, such as improved sealing and pressure regulation, improve the performance and dependability of closed centre systems, making them a desirable option for new and retrofitted aircraft, adding to market growth.
Insights by Platform
The fixed wing segment accounted for the largest market share over the forecast period 2023 to 2033. Fixed-wing aircraft, such as commercial airliners, business jets, and military fighters, rely largely on hydraulic systems to perform crucial tasks including landing gear deployment, flight control, and braking. The growth of the global aviation industry, particularly the increase in commercial flights and the replacement of ageing fleets, has greatly increased demand for improved hydraulic systems in fixed-wing aircraft. Furthermore, the modernisation of military fleets with next-generation fighters and transport aircraft is fuelling the segment's rise.
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Insights by Region
North America is anticipated to dominate the Aircraft Hydraulic Systems Market from 2023 to 2033. The continued manufacturing of commercial, military, and business aircraft, as well as a significant emphasis on aircraft modernisation and fleet growth, fuels demand for improved hydraulic systems. The region's strong defence budget and ongoing investments in next-generation military aircraft fuel market growth. Furthermore, North America's substantial aftermarket services network covers hydraulic system maintenance, repair, and overhaul (MRO), maintaining the aircraft's longevity and reliability. Technological developments and R&D investments in hydraulic systems also help North America maintain its worldwide market leadership.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The region's burgeoning middle class and rising air travel demand have resulted in major investments in new aircraft, increasing the demand for improved hydraulic systems. Furthermore, Asia-Pacific is seeing vigorous military modernisation initiatives, with countries improving their defence capabilities, increasing demand for hydraulic systems in military aircraft. The region's emphasis on developing local manufacturing skills and forming alliances with global aerospace companies is increasing its market presence. However, problems such as regulatory compliance, skilled labour shortages, and infrastructure limitations exist. Despite these challenges, Asia-Pacific is poised for significant market expansion thanks to its thriving aviation industry.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies covered: Raytheon Technologies Corporation (U.S.), Parker-Hannifin Corporation (U.S.), Safran S.A. (France), Eaton Corporation Plc (Ireland), Liebherr-International Deutschland GmbH (Switzerland), Woodward, Inc. (U.S.), Triumph Group, Inc. (U.S.), Moog Inc. (U.S.), Arkwin Industries Inc. (U.S.), Beaver Aerospace & Defense, Inc. (U.S.), and other key Vendors.
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Recent Market Developments
- In June 2021, Eaton, a power management firm headquartered in the United States, purchased Cobham Mission Systems with the intention of leveraging power management technology and services to promote quality of life and environmental sustainability.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Aircraft Hydraulic Systems Market, By Type Analysis
- Closed-center
- Open-center
Aircraft Hydraulic Systems Market, By Platform Analysis
- Fixed Wing
- Rotary Wing
- Unmanned Aerial Vehicles
Aircraft Hydraulic Systems Market, By End User Analysis
- Line-fit
- Retrofit
Aircraft Hydraulic Systems Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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