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(MoneyNewsWire.Net, March 12, 2018 ) The aircraft hydraulic system market is expected 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. 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.
Browse Market Data Tables and In-Depth TOC of the Aircraft Hydraulic System Market to 2021 @ https://www.researchcosmos.com/reports/global-aircraft-hydraulic-system-market-analysis-and-forecast-to-2022-growth-opportunity-assessmen/4642834
Based on type, the aircraft hydraulic system market has been segmented into open center and closed center hydraulic system. The closed center hydraulic system segment of the market is expected to witness high growth during the forecast period. 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.
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.
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North America is estimated to lead the aircraft hydraulic system market during the forecast period. The aircraft hydraulic system market in North America is driven by the presence of large number of Original Equipment Manufacturers (OEMs) and the presence of key market players, such as United Technologies Corporation (U.S.), Parker Hannifin Corporation (U.S.) and Woodward, Inc. (U.S.). The rest of the world is projected to be the fastest-growing market for aircraft hydraulic system. This high growth can be attributed to the presence of large OEMs, such as Embraer S.A. (Brazil) and Piaggio Aerospace (UAE) and technological upgrades from traditional hydraulic system to advanced systems in the region.
Aircraft manufacturers as well as OEMs need high initial capital to employ skilled workforce and set up machinery, state-of-the-art technical equipment, and integration platforms. Furthermore, manufactured components need to be approved by various authorities before they are installed on board an aircraft. It is difficult to obtain approval for the replacement of conventional systems with enhanced hydraulic system. This may restrain the growth of the aircraft hydraulic system market in the coming years.
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The aircraft hydraulic system market is a diversified and competitive market with a large number of players. Key players operational in the market include 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. (U.S.). Market players focus on entering new markets by launching technologically-advanced and cost-effective products and acquiring new businesses.
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