Aerospace Accumulator 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, 2020 – 2026

Published Date: Jul 2020  |  Report ID: GMI2344  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 200   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

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

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Aerospace Accumulator Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 8,573.2 Thousand (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 3.8% 2026 Value Projection: 8,877.5 Thousand (USD)
Pages: 200 Tables, Charts & Figures: 229
Geographies covered (18): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, South Africa, UAE, Saudi Arabia, Qatar
Segments covered: Product, Material, Aircraft, Region
Companies covered (13): Parker Hannifin, Eaton Corporation, Valcor Engineering Corporation, Arkwin Industries, Senior Metal Bellows, Haydac Technologies, APPH Group, Triumph Group, TECHNETICS GROUP, Hanwha Corporation, Ametek Inc., Bosch Rexroth, Flexial Corporation
Growth Drivers:
  • Rising commercial aircraft production
  • Increasing military expenditure
  • Presence of large number of aircraft manufacturers in North America
  • Proliferating demand for next generation aircrafts
Pitfalls & Challenges:
  • Stringent regulations
  • Supply chain disruption due to COVID-19

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Metal bellow accumulator to bank upon superior performance

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 to emerge as preferred material for aerospace accumulators

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.
 

Commercial aircraft segment to drive the revenue generation

  Aerospace Accumulator Market Size

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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 to dominate the global market share

  North America Aerospace Accumulator Market Size

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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.
 

Technological edge plays a major role in market acquisition

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 Parker Hannifin, Valcor Engineering Corporation, Senior Metal Bellows, Eaton Corporation, Arkwin Industries, Haydac Technologies, Bosch Rexroth, Triumph Group, Flexial Corporation, Ametek Inc., TECHNETICS GROUP, and APPH Group. 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:

Market, By Product

  • Bladder accumulator
  • Piston accumulator
  • Metal bellow accumulator

Market, By Material

  • Steel
  • Others

Market, By Aircraft

  • Commercial
    • Narrow body
    • Wide body
  • Regional
  • Business
  • Military aircraft
  • Helicopter

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America (LATAM)
    • Brazil
    • Mexico
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Qatar

 

Frequently Asked Questions (FAQ) :

The market size of aerospace accumulator was surpassed USD 8.6 million in 2019.
The industry share of aerospace accumulator is projected to grow at 3.8% CAGR during 2020-2026.
Metal bellow aerospace accumulator market held USD 6.2 million revenue in 2019 and may exhibit 3.5% CAGR through 2026, owing the fact that these products deliver superior performance and have a low spring rate.
The fact that stainless steel has superior heat resistance, excellent mechanical properties, and high corrosion resistance will increase its demand. Steel may hold over 60% market share by 2026.
Commercial aircrafts will gain momentum in this business. In 2019, commercial segment held USD 4.5 million owing to emergence of low-cost air carriers, growing disposable incomes, and shifting preference toward air travel.
These products may gain hefty traction in North America, driven by the presence of well-established aerospace industry vendors. North America held over 45% market share in 2019 and will depict substantial growth, especially with U.S. accounting for 35% of global aircraft production.
The COVID-19 pandemic has led to closures of production facilities, lack of labor, and restrictions on international travel, which will majorly impact market growth.

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Premium Report Details

  • Published Date: Jul 2020
  • Pages: 200
  • Tables: 210
  • Charts / Figures: 19
  • Companies covered: 13
  • Countries covered: 18

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