Aerospace Accumulator Market Size & Share 2020 to 2026
Market Size by Product (Bladder, Piston, Metal Bellow), by Material (Steel, Aluminum ), by Aircraft (Commercial [Narrow Body, Wide Body], Regional, Business, Helicopter, Military Aircrafts) Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast.
Report ID: GMI2344
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Published Date: July 2020
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Report Format: PDF
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Authors:
Suraj Gujar, Partha Paul
Aerospace Accumulator Market Size
Aerospace Accumulator Market size valued at USD 8.6 million in 2019 and will witness growth at over 3.8% from 2020 to 2026. Rising aircraft fleet size is expected to drive the industry demand. Increasing air passenger traffic coupled with shifting consumer preference toward air travel is prospering the demand for new commercial and new generation aircrafts which will propel the aerospace accumulator industry growth. According to the International Air Transport Association (IATA), the air traffic across the globe will be doubled by 2037. It can be ascribed to the eastward shift of the global airline industry.
Airbus, one of the leading worldwide aircraft manufacturers, has stated that minimum 37,400 new aircraft will be required by 2038 to cater to accommodate passengers. Stringent government regulations pertaining to specifications and application guidelines are likely to limit the market penetration. The ongoing COVID-19 pandemic has significantly impacted the aircraft manufacturing across the world. Partially operating manufacturing facilities, lack of skilled labors, restrictions on mobility and international trades have hampered the aircraft production. This has resulted in slower demand, increased production backlog, and deferred deliveries of new aircraft.
Aerospace Accumulator Market Analysis
Metal bellow aerospace accumulator market generated around USD 6.2 million revenue in 2019 and is projected to expand at 3.5% CAGR till 2026. Metal below accumulators have low spring rate and provide superior performance as compared to bladder and piston accumulators. It provides a hermetic sealing between hydraulic fluid and charged gas, thus minimizing the leakage.
The teflon guide ensures negligible friction, thus allowing swift movement of bellows inside the housing. Moreover, these accumulators require minimal maintenance and have a prolonged life. It possesses excellent media resistance over a broad temperature range, enhancing its performance in hostile environments. Rising demand for wide body aircraft will induce significant growth potential in the industry landscape.
Steel segment is likely to hold more than 60% aerospace accumulator market share by 2026. Stainless steel possesses excellent corrosion resistance, making it a preferred material. Additionally, it possesses mechanical properties and superior heat resistance, that results in strength retention at elevated temperatures. However, the increasing adoption of composite materials for accumulators owing to enhanced performance, longevity, and reduced weight will hamper steel segment growth.
In 2019, commercial aircraft segment revenue was over USD 4.5 million ascribed to rising commercial aircraft demand. Global air traffic has increased exponentially in the last decade. Emergence of low-cost air carriers, shifting preference toward air travel, growing disposable income of middle-class populace in emerging economies, are some of the factors augmenting the air traffic. These trends are positively influencing the demand for commercial aircraft.
North America aerospace accumulator market accounted for more than 45% share in 2019 owing to presence of well-established aerospace industry in the region. Key manufacturers operating in the region include Bombardier, the Boeing Company, Lockheed Martin Corporation, Northrop Grumman, United Technologies Corporation, Raytheon Company, GE Aviation, and General Dynamics Corporation.
The U.S. is the largest aircraft manufacturer in the world, accounting for over 35% of the global aircraft production. The country has around one-third share in the global commercial aircraft production. The presence of state-of-the-art manufacturing facilities across the country is augmented aerospace industry growth in the last few decades. Moreover, focused research & development activities coupled with rising military expenditure will enhance the regional aerospace accumulator demand.
Aerospace Accumulator Market Share
The aerospace accumulator industry is very competitive, and technology plays a crucial role in strengthening industry share. The major players operating in the product space are
Industry players are focusing on research & development for technological advancements to gain competitive advantage over other companies.
This market research report on aerospace accumulator includes in-depth coverage of the industry with estimates & forecast in terms of volume in units and revenue in USD thousand from 2016 to 2026 for the following segments:
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Market, By Product
Market, By Material
Steel
Market, By Aircraft
Commercial
The above information is provided on a regional and country basis for the following:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
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5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
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Verified data sources
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GMI archive
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