HOME Research Insight Agreements & Acquisitions was the Key Strategy Adopted by the Market Players to Grow in the Aerospace Valves Market

Agreements & Acquisitions was the Key Strategy Adopted by the Market Players to Grow in the Aerospace Valves Market

The aerospace valves market report covers all types of aerospace valves used in aircraft systems, such as fuel systems, oil systems, hydraulic systems, lubrication systems, ice and rain protection systems, and water & waste system systems, among others. The aerospace valves market is projected to grow from an estimated USD 3.71 Billion in 2018 to USD 4.84 Billion by 2023, at a CAGR of 5.44% during the forecast period. The rapid growth in air passenger traffic and flight hours of aircraft has led to shorter replacement period of aerospace valves to run the aircraft at its optimum efficiency and safety.

Key players in the aerospace valves market are Parker Hannifin (US), Eaton (Ireland), Honeywell (US), Zodiac Aerospace (France), Woodward (US), and AeroControlex (US), among others. These companies account for a major share of the aerospace valves market and have their manufacturing facilities in regions such as North America, Europe, and Asia Pacific. These companies adopted strategies such as contracts, new product developments, agreements, acquisitions, and partnerships, among others between April 2013 and October 2017 to increase their market shares.

For example, in December 2017, Parker Aerospace, a business unit of Parker Hannifin (US) signed a long-term contract with Emirates Limited (UAE) upcoming fleet of 150 777X aircraft. Under this contract, Parker Hannifin will provide Boeing aircraft with hydraulic engine-driven hydraulic systems. Parker Aerospace offers lightweight valves and other hydraulic systems utilizing materials and manufacturing methods, which reduce the systems’ weight. It considerably reduces the weight of an aircraft, which results in increased fuel efficiency.

Parker Aerospace (US), in January 2015, entered into a contract with AVIC Aircraft (China) to provide flight control actuation and hydraulic systems for its regional aircraft.

Honeywell (US) signed a contract with Boeing in November 2017 to provide services and solutions for Boeing-777 and Airbus 380.

Crane Aerospace & Electronics, a Crane Co. segment, signed an Authorized Repair Services Agreement with the Guangzhou Aircraft Maintenance Engineering Co., Ltd. (GAMECO) in 2015. Under the agreement, GAMECO will serve as an authorized repair station in China for a number of Crane products, including Boeing aircraft fuel systems, engine fuel flowmeters, brake control wheel speed transducers, and control valves.

Related Reports:

Aerospace Valves Market by Valves (Fuel, Hydraulic, Air Conditioning, Pneumatic), Material (Steel, Aluminum, Titanium), Mechanism (Poppet, Pilot, Flapper-Nozzle, Ball and Plug, Baffle), End User (OEM, Aftermarket), Aviation - Global Forecast to 2023

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