Already on ArticleSlash?

Forgot your password? Sign Up

Aerospace Hose and Tube Assemblies Market to reach an estimated value of US$ 1.5 billion in 2024

 


Visitors: 33
 1 vote

The Aerospace Hose and Tube Assemblies Market: Highlights

Hose and tube assemblies in the aerospace industry serve the purpose of a conduit through which fluid is conveyed. Tubes are used in stationary application; where long and relatively straight runs are possible. They are widely used in the aerospace industry for fuel, oil, coolant, oxygen, instrument, and hydraulic lines. Similarly, hoses are used to connect moving parts with stationary parts, where they are subject to considerable vibration or where a great amount of flexibility is required. In the aerospace industry, tubes are usually rigid fluid lines made of materials, such as stainless steel, Inconel, titanium, copper, and aluminum. On the other hand, hoses are flexible fluid lines usually made of rubber (EPDM, neoprene, etc. ) and Polytetrafluoroethylene (PTFE).

The market for hose and tube assemblies in the aerospace industry will continue to witness promising growth over the next five years to reach an estimated value of US$ 1.5 billion in 2024. Several factors are directly or indirectly bolstering the demand for hose and tube assemblies in the aerospace industry in which some of the major ones are organic growth of the aircraft industry and increasing demands for lightweight and durable fluid conveyance systems.

Boeing anticipated that there would be total deliveries of 42,730 commercial and regional aircraft worth of US$ 6.3 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 62.5% of the total aircraft deliveries during 2018-2037. An expected healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will chiefly drive the demand for the aircraft. This factor will create sustainable demand for hose and tube assemblies in the aerospace industry.

Another factor adding flavor to the the market dynamics is the gradual consolidation. Major players are acquiring small players to tap the potential of this highly growing market. Some of the prominent mergers & acquisitions that took place in the market include the acquisition of Polimer Kauçuk Sanayi ve Pazarlama A. S. , a Turkish manufacturer of hydraulic and industrial hose, by Eaton Corporation; acquisition of Global Tubes and FMH Aerospace Corporation by Ametek, Inc. , and acquisition of Zodiac Aerospace by Safran S. A.

Aerospace Hose and Tube Assemblies Market, By Platform Type:

Based on the platform type, the market is segmented into commercial aircraft, military aircraft, regional aircraft, general aviation, helicopter, and others. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Today, the deliveries of commercial aircraft are at peak and have not witnessed a decline in the past seven years. Stratview estimates and OEMs’ announcements suggest that the production of aircraft will continue to increase as both Boeing and Airbus are enjoying a huge pile of order backlogs and have been increasing the production rates of their key programs (B737, B787, A320, and A350XWB). They are also developing fuel-efficient aircraft platforms (A320neo, B737 Max, B777x, and A330neo) to address the grave concern of airlines. Apart from these above-mentioned factors, market entry of COMAC and Irkut in the commercial aircraft segment further increases the potential of hoses and tubes in the commercial aircraft segment.

Aerospace Hose and Tube Assemblies Market, By Product Type:

Based on the product type, the market is segmented into hoses and tubes. Hoses are further bifurcated based on the material type into PTFE hoses (Teflon), rubber hoses, and others. Similarly, tubes are classified based on the material type into stainless steel tubes, Inconel tubes, titanium tubes, and others. PTFE hoses are expected to maintain its dominance in the aerospace hose assemblies market, whereas titanium tubes are likely to witness the highest growth in aerospace tube assemblies market.

Aerospace Hose and Tube Assemblies Market, By Application Type:

Based on the application type, the market is segmented into fuel system, hydraulic system, instrumentation, and others. Fuel system is estimated to remain the largest and the fastest-growing application segment for hose and tube assemblies in the aerospace industry over the next five years. Hoses and tubes in an aircraft fuel system deliver fuel to the propulsion system and auxiliary power unit. Fuel lines are required to be securely attached to aircraft with the clamp; thus, usually, metal tubes are used for it. In case where flexibility is required, rubber or PTFE hoses are used.

Aerospace Hose and Tube Assemblies Market, By Region:

In terms of regions, North America is expected to remain the largest market for aerospace hose and tube assemblies during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, hose and tube suppliers, and airlines. All the major hose and tube assemblies’ suppliers have their presence in the region to address the emergent needs of the OEMs in order to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

Europe is likely to remain the second-largest market for aerospace hose and tube assemblies during the forecast period. Commercial aircraft is the growth engine of the European market for aerospace hose and tube assemblies, largely driven by the A320 and A350 XWB aircraft programs. Airbus has a massive plan to raise the production rate of its A320 family aircraft including neo variants, Airbus reported that the A320 programme is on track to achieve production rate 60 per month for the A320 Family by mid-2019.

Asia-Pacific is expected to experience the highest growth in the global market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).

TOP Players:

The supply chain of this market comprises raw material suppliers, aerospace hose and tube manufacturers, tier players, aircraft OEMs, airlines, and aircraft leasing companies. Key players in the market are Eaton Corporation, Parker Hannifin Corporation, Smiths Group plc, PFW Aerospace, Leggett & Platt, Inc. , Ametek, Inc. , ITT Inc. , Unison Industries, Stelia Aerospace, Safran S. A. , Flexfab, LLC, and Steico Industries Inc. Development of lightweight hoses and tubes for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

SOURCE: https://www.stratviewresearch.com/478/aerospace-hose-and-tube-assemblies-market.html

(1119)
Tags:
erospace hose and tube assemblies market

Article Source:


 
Rate this Article: 
 
A Review of the New Network Marketing Trend About to Reach 2 and a Half Billion
Rated 1.0 / 5
based on 1 vote
ArticleSlash

Related Articles:

Aircraft Enclosures Market to reach US$ 1,425.3 million in 2024

by: Khemant Kolpe  (May 10, 2019) 
(News/International)

Aircraft Screws Market to reach US$ 649 million in 2024

by: Khemant Kolpe  (May 10, 2019) 
(Business/Accounting)

Automotive Composite Liftgate Market to reach of US$ 1,183.3 million in 2024

by: Devesh Guwal  (May 09, 2019) 
(News/Automotive)

Global Spa Economy Estimated at $255 Billion Annually

by: Susan Gans  (June 21, 2008) 
(Business/Management)

Automotive Leaf Spring Aftermarket to reach US$ 1,998.8 million in 2024

by: Devesh Guwal  (May 09, 2019) 
(News/Automotive)

Asia Pacific Critical Infrastructure Market –Industry Analysis and Market ..

by: Suraj Patil  (April 01, 2019) 
(Business/Accounting)

Europe Positive Material Identification Market – Industry Analysis and Market .

by: Suraj Patil  (April 01, 2019) 
(Business/Accounting)

North America Electric Heat Tracing Market – Industry Analysis and Market ..

by: Suraj Patil  (April 01, 2019) 
(News/Business)

VTC Online Revenue Reach 500 Billion VND 2015

by: La Do Hanoi  (August 24, 2012) 
(Business/Small Business)

A Review of the New Network Marketing Trend About to Reach 2 and a Half Billion

by: Brian Garvin  (October 10, 2008) 
(Home Based Business/Network Marketing)