Aircraft hydraulic system market to reach about USD 2980.9 Million - Credence Research

In 2021, the global aircraft hydraulic system market generated revenue of around USD 1576.6 million. From 2022 to 2028, this market is predicted to increase at a CAGR of over 11.2%, reaching about USD 2980.9 million.
The global aircraft hydraulic systems market is primarily driven by the increased usage of airplanes and helicopters in the general, commercial, and defense sectors. This may be ascribed to various causes, including an increase in consumer desire for air travel, an increase in the necessity for aerial observation, and warfare readiness. However, rising crude oil costs force airlines to rely on older aircraft rather than adding new ones to their fleet. This is expected to slow the growth of the aircraft hydraulic system market.
The is bifurcated into product, fluid type, wing type, end user and geography. Based on the product, the aircraft hydraulic system market is categorized into reservoirs, pumps, valves, hydraulic fuses, accumulators, actuators, and others. Based on fluid type, the market is categorized into vegetable-based, fixed-wing, and rotary-wing types. Based on wing type, the market is segmented into fixed and rotary wings. Based on end users, the market is segmented into the air force, general, and commercial aviation. The aircraft hydraulic system market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the aircraft hydraulic system market. The growth is mainly attributed to the presence of major OEMs and key market players, including Parker Hannifin Corporation, United Technologies Corporation, and many others across the region. The U.S. military and defense sector is involved in developing new aircraft for security and surveillance. This will necessitate a significantly improved and a big number of aircraft hydraulic systems, which further drives the industry growth in this region. On the other side, the Asia-Pacific aircraft hydraulic system market is also expected to expand rapidly. This can be attributed to increased investments in the region's aerospace industries.
Why Buy This Report-
The report offers a qualitative and quantitative analysis of the global market for aircraft hydraulic system by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics over the historical period from 2016 to 2020, the base year 2021, and the forecast period 2022 to 2028.
The study includes details about the competitive environment, such as how the major market players conduct their business on a global, regional, and national scale.
Detailed examination of the segmentation of the global market for aircraft hydraulic system by product, fluid type, wing type and end user.
Major nations in each region, together with information on imports and exports.
The study on the global aircraft hydraulic system market also examines key market trends, significant competitors, market growth strategies, and important application areas at the international, regional, and national levels.
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