Accumulators are simple hydraulic devices composed of a cylindrical sleeve, piston, and two end caps. Accumulators are used to providing backup power for landing gear, APU starting, brakes, and emergency applications. These are considered essential elements of the modern hydraulic systems and are usually installed in hydraulic systems to store energy and smoothing out pulsations. Usually, large aircraft have one brake accumulator, whereas others have four accumulators. The fundamental function of accumulators is to store power for the limited operation of a hydraulic unit when the pump fails to function. Besides, accumulators also reduce pressure surges in the hydraulic system instigated by the actuation of a unit and the pump’s effort for maintaining pressure at a preset level. These functions thus make accumulators an integral part of an aircraft’s anatomy. The global aerospace accumulator market is anticipated to grow at a CAGR of 4.6% during the forecast period.
Top Driver: Robust Demand for Commercial Aircraft and Government Support
The aircraft accumulator market is expected to witness healthy growth in the near future owing to rising demand for commercial aircraft and increasing government expenditure in defense and military budgets. Aircraft accumulators are considered essential since they can enhance productivity, facilitate smoother and much more reliable operation, and store emergency power during electrical failure. These factors are anticipated to stimulate the demand for aircraft accumulators during the forecast period.
Closed Center Hydraulic System is Expected to be the Largest Segment
On the basis of type the global aircraft accumulator market can be segmented into Closed Center Hydraulic System, Open Center Hydraulic System. The closed center hydraulic system is expected to hold the largest market share whereas the open center hydraulic system is expected to be the fastest growing segment in the market. On the basis of platform, the market is segmented into Fixed Wing, Rotary Wing. On the basis of component, the market is segmented into Reservoir, Filters, Hydraulic Fluid, Hoses, Pipes & Connectors
Higher presence of the key market pleyars to Benefit North America Market
North America aerospace accumulator market attained highest revenue shares and is anticipated to grow further in the forecast period. This owes to the presence of well-established aerospace industry in the region. The U.S. is among the largest aircraft manufacturer in the world of the global aircraft production. The presence of state-of-the-art manufacturing facilities in the country is booming in the aerospace industry and would boost the industry in the coming years. The focused research & development activities and the surge in the military expenditure will propel the regional aerospace accumulator demand in the near future.
Players to Focus on Aircraft Accumulator Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. 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 among others could be at the forefront of the competition in the global market.
Parker Hannifin Corporation: In April 2012, Parker Hannifin Corporation, the global leader in motion and control technologies, announced that it has signed an agreement to acquire the Olaer Group headquartered in Deeside, United Kingdom. Olaer is a leading manufacturer of a broad range of advanced hydraulic accumulator and cooling technologies to provide solutions for energy, mobile and industrial markets. The acquisition is subject to regulatory approvals and customary closing conditions. Terms of the transaction were not disclosed.
Eaton Corporation: In November 2012, Diversified industrial manufacturer Eaton Corporation plc and electrical equipment supplier Cooper Industries plc announced that Eaton had completed its acquisition of Cooper. The acquisition was announced on May 21, 2012 and combines Eaton and Cooper into a new, premier global power management company named Eaton Corporation plc.
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