Aerospace Accumulator Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2344
Aerospace Accumulator Market size is poised to grow significantly owing to increasing demand of commercial & general aviation, military aircrafts and helicopter. Frequent air travelers across the globe creates huge demand for fleet expansion. New aircrafts programs by Boeing and Airbus will fuel the aerospace accumulator market share during forecast period.
Increasing use of high performance materials which offer various benefits such as weight reduction and low maintenance cost will support the industry growth. Design complexity and high production cost of the component limits the aerospace accumulator market growth. Accumulator system container has fully charged gas and highly pressurized fluid inside to dampen pressure released in hydraulic system. High pressurized fluid can lead to internal or external leakages. Product designing should be given utmost importance to avoid dysfunctionality. Moreover, dependence on selected vendors by aircraft manufacturers for product procurement and supply pose the challenge before new entrants.
By product, aerospace accumulator market is categorized in to piston, bladder and metal bellows accumulator. Metal bellows holds maximum share owing to less maintenance requirements. It is replacing piston components due to its lightweight.
Based on materials, industry is categorized in to steel and hybrid. Hybrid material includes carbon composite material used for outer housing. Hybrid material share will increase owing to surge in demand of light weight components for fuel efficient aircraft. Composites products are nearly 66% lighter than conventional ones. Stringent government regulation on carbon emission reduction will stimulate the demand for light weight, high efficient components. Demand for steel component will affect due to raw material cost, comparatively higher weight and need for frequent product maintenance.
Based on application, industry is categorized into flight controls, thrust reverser, landing gears and braking system. Aerospace accumulator market requirement varies as per size, specific volume, pressure and temperature applications. Landing gears hold significant share due to high product requirements. Accumulators are preferred to dampen the pressure released to supply extra power in hydraulic systems of landing gears.
Based on aircraft, industry is segmented in to commercial, regional aircraft, general aviation, helicopter & military aircrafts. The commercial aircrafts hold major share in aerospace accumulator market owing escalating commercial aviation industry. There are more than 29,000 commercial aircraft globally including regional and business jets. Commercial aircraft transport around 3.8 trillion passengers annually. Increasing trend of fleet expansion and upgradation by airline companies will support the revenue generation during forecast period.
North America will dominate aerospace accumulator market during the forecast timeframe owing to strong presence of manufacturers and highest number of international passenger fleets in the region. Airbus & Boeing are two major aircraft companies annually deliver more than 1000 aircraft worldwide. There are more than 26,500 average daily scheduled passenger flights and airline companies are adding more numbers of aircraft to cater increasing demand.
Asia Pacific is expected to witness significant growth due to increasing air traffic. Increasing disposable income and affordable flight fare is stimulating general & commercial aviation. Increase in frequent travelers and surge in demand of commercial aircraft is expected to boost aerospace accumulator market share during forecast period.
Some of the component manufacturers are Eaton Corporation, Woodward, Senior Aerospace, Haydac Technologies, APPH Group, Triumph Group, Parker Hannifin and Valcor Engineering among others. Specific needs and performance product requirement by OEMs resulting in preference to work with trusted vendors only.
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