Electro Hydraulic Servo Valve Market Estimated To Witness High Growth Owing To Increasing Demand From Aerospace Industry
Electro hydraulic servo valves play a pivotal role in translating electrical signals into hydraulic pressure signals. They are used in applications where precise fluid control and relatively low power levels are required like flight controls of helicopters and commercial aircraft. The global electro hydraulic servo valve market is valued at US$2410.44 Bn in 2024 and is expected to exhibit a CAGR of 28% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
The global electro hydraulic servo valve market is estimated to be valued at US$5500 Mn or Bn in 2031 and is expected to exhibit a CAGR of 28% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
High Growth Owing to Increasing Demand from Aerospace Industry
The electro hydraulic servo valve market is witnessing high growth owing to increasing demand from the aerospace industry. Electro hydraulic servo valves find extensive usage in aircraft systems like flight control actuation systems, nose wheel steering systems and landing gear extension and retraction systems. With the commercial aircraft delivery numbers increasing steadily each year, the demand for electro hydraulic servo valves from this industry is also increasing at a robust pace. According to Airbus, it delivered over 800 commercial aircrafts in 2019 as against 747 deliveries in 2018. Similarly, Boeing delivered over 380 aircrafts in the same year as compared to 349 deliveries in 2018. This growing demand for new aircraft from the aerospace industry is directly benefitting the electro hydraulic servo valve market.
SWOT Analysis
Strength: Electro Hydraulic Servo Valve has a high degree of precision and quick response. It can realize precise position control and speed regulation under complex working conditions. The valves have simple maintenance and troubleshooting.
Weakness: Electro Hydraulic Servo Valve has complicated internal structures which makes manufacturing difficult and costly. Failure of small parts can cause the entire valve to malfunction. Maintenance of the valves also requires skilled technicians.
Opportunity: Growing demand for precision control equipment from industries like aerospace, manufacturing is opening up new areas for Electro Hydraulic Servo Valve. Advances in materials and manufacturing can help reduce costs and improve reliability of the valves.
Threats: Alternative control technologies like electric motors and drives are gaining ground in some applications. Changing industry trends and shifting focus towards renewable can reduce demand growth for hydraulic equipment. Vulnerability to supply chain disruptions is also a threat.
Key Takeaways
The global Electro Hydraulic Servo Valve market size is expected to witness high growth.
Regional analysis:
Asia Pacific region is projected to be the fastest growing market for Electro Hydraulic Servo Valve during the forecast period. With growing industries like automotive, aerospace and manufacturing in China, India, Japan, the demand for precision control valves is increasing rapidly in the region.
Key players
operating in the Electro Hydraulic Servo Valve market are Toyota Motor Corporation, Hyundai Motor Company, Honda Motor Co., Ltd., and Ballard Power Systems. Toyota Motor Corporation is a leading automotive manufacturer and also supplies servo valves for industrial applications. Hyundai Motor Company has a large presence in the global automotive market and their demand for Electro Hydraulic Servo Valve is growing.
Get more insights on this topic: https://www.newsanalyticspro.com/electro-hydraulic-servo-valve-market-industry-insights-trends-electro-hydraulic-servo-valve-market/
Explore more information on this topic, Please visit: https://ceocolumn.com/news/understanding-the-complex-tumor-microenvironment/
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Russian
Romaian