The increasing need for highly reliable system, higher power to weight ratio of hydraulics system, low cooling cost due to low amount of heat generated, and wide range of load handling capacity of hydraulic system are major factors expected to drive the growth of the aircraft hydraulic system market in the coming years.
The report "Aircraft Hydraulic System Market by Type (Open-Center, Closed-Center), Component (Reservoir, Filters, Pumps, Accumulators, Actuators, Hydraulic Fluid), Platform (Fixed, Rotary) and Region - Global Forecast to 2021", The aircraft hydraulic system market is projected to grow from USD 935.9 Million in 2016 to USD 1,158.5 Million by 2021, at a CAGR of 4.36% during the forecast period.
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The increasing need for highly reliable system, higher power to weight ratio, low cooling cost due to low amount of heat generated, and wide range of load handling capacity of hydraulic system are major factors expected to drive the growth of the aircraft hydraulic system market. There have been various advancements in hydraulic system components and cost-effective and environment-friendly have been introduced in recent years.
For instance, hydraulic pumps and actuators that help provide better feedback and performance and reduce the overall weight of the system have been developed.
The closed center hydraulic system segment is projected to witness high growth during the forecast period
Based on the type of hydraulic system, the closed center segment of the aircraft hydraulic system market is projected to witness high growth. Pilots depend on hydraulic system to operate systems, such as wheel brakes, nose wheel steering, landing gear operation, flight control surfaces, cargo doors, and propeller pitch controls.
New and improved systems, such as high pressure hydraulic pumps with pressure generation capacity of about 5000 psi are expected to fuel the growth of the closed center hydraulic system in the coming years.
The pumps segment is projected to witness highest growth during the forecast period
Based on component, the pumps segment is projected to witness highest growth during the forecast period. Pumps are a crucial component of the aircraft hydraulic system.
These are expected to be increasingly used in new aircraft, due to the reduction in the overall weight of an aircraft that can be achieved by the use of pumps. Pumps provide high pressure of fluid even in very thin pipelines.
This is one of the key factors expected to propel growth of the pumps segment.
The rest of the world is projected to be the fastest-growing market for aircraft hydraulic system during the forecast period
The rest of the world is projected to be the fastest-growing market for aircraft hydraulic system during the forecast period. The rest of world comprises countries, such as Brazil, South Africa, and UAE.
This high growth can be attributed to the presence of large Original Equipment Manufacturers (OEMs), such as Embraer S.A. (Brazil) and Piaggio Aerospace (UAE) and technological upgrades from traditional hydraulic system to advanced systems in the region.
Key players operating in the aircraft hydraulic system market are United Technologies Corporation (U.S.), Parker Hannifin Corporation (U.S.), Safran S.A. (France), Eaton Corporation PLC (Ireland), Liebherr-International AG (Switzerland), Woodward Inc.
(U.S.), Triumph Group Inc. (U.S.), Moog Inc. (U.S.), and Arkwin Industries Inc.
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