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North American Hydraulic Components Markets for Aerospace Applications
Frost & Sullivan, July 2005
Hydraulic Component Manufacturers Develop Integrated Systems to Counter Growing Demand for Electrically Powered Solutions
Aerospace applications are finding greater use for electrical components that make the aircraft more efficient and lighter. They also help eliminate bulky hydraulic systems and hoses, which have higher maintenance costs due to leakages. However, hydraulics still retains its market for high-pressure applications. End users are beginning to see the benefits of integrating electronics with hydraulics systems for better performance and reprogrammable digital control and settings. Market participants that can provide integrated systems and take on the responsibilities of assembling and installing these systems are expected to succeed.
This Frost & Sullivan research service looks at the North American hydraulic components market for aerospace applications. It segments the markets into hydraulic cylinders, valves, as well as motors and pumps. The study discusses drivers and restraints as well as industry challenges. It also provides information on the growth trends, competitive structure, and market opportunities, thereby enabling companies to align their positioning strategies to benefit from the changing market and obtain maximum return on investment.
Steady Economic Growth and Robust Defense Spending Drive the Military Aerospace Market and Consequently, the Hydraulic Components Markets
The 9/11 attacks, the outbreak of severe acute respiratory syndrome (SARS), and the 2003 Iraq war have severely affected the commercial aerospace industry. However, improving economies are helping this industry get back on track, as has been proved by the Bureau of Transportation Statistics. This organization estimates that there was a 7.2 percent rise in the domestic passengers from 2003 to 2004 in U.S. airlines. With Airbus and Boeing introducing more airplanes, hydraulic components and systems sales are expected to receive a huge boost.
The U.S. military spending has also increased substantially, as the country has been actively deploying troops to fight insurgency and terrorism in various parts of the world. The Department of Defense (DoD) is developing various programs to replace its aging fleet of aircraft and helicopters, says the analyst of this research service. This, in turn is expected to assist growth in hydraulic component and systems markets.
Value Added Services such as Maintenance, Repair, and Overhaul Augment Market Revenue
The economic revival in North America has strongly benefited the air travel industry, and this is evident from the increase in the available seat miles (ASM). ASM refers to the overall capacity at which an airline operates and the Federal Aviation Administration (FAA) expects this to grow annually by 3.8 percent until 2015. The FAA has also initiated programs to replace aging aircraft but due to budget constraints, they are expected to be in operation for a longer while, thereby extending their service life.
This extension of life bodes well for the maintenance, repair, and overhaul (MRO) industry, particularly for the hydraulic components. The more the number of air travel hours, the greater the need for aircraft maintenance. Aircraft and the helicopters used in the Middle East are battle-worn and need MRO services, notes the analyst. This is likely to increase the outsourcing of their maintenance to MRO service providers by the DoD, which, in turn, is expected to increase the overall market revenue.
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