The global aerospace and defense springs market size is expected to reach USD 377.7 million by 2025 and register a CAGR of 5.2% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for commercial aircraft owing to increasing passenger traffic is expected to fuel the market growth. Furthermore, increasing need for fighter jets due to growing security concerns of the nations and increasing border conflicts among Asian countries is also expected to boost the growth of the market over the forecast period.
Springs
are small but a crucial part in almost all the major aerospace equipment and
some of their major applications are engine controls, aircraft cabin parts,
landing mechanism, flow control nozzles, and fuel filtering systems. On the
basis of type, the market is segmented into flat spiral/power; coil; and
torsion, torque coil, and clutch. Each spring has its own specific design and
application, for instance, constant force flat springs are used to help deploy
and retract the main entry door, stairs, and cargo doors while torsion springs
are used in rocker switches of the aircraft.
Springs
improve the performance of the equipment and also help reduce wear and tear of
the system. They play an important role in efficient working of the equipment,
leading to fuel saving and also facilitate easy operations of many components,
especially where space is a constraint. This becomes an important factor in the
aerospace and defense sector, where a lot of technological devices are to be
fitted in less space.
Equipment
used in the aerospace sector should have the ability to endure harsh
environments. They need components that are durable and sturdy, and require
minimal replacements, upgradation, or maintenance, while being highly precise
in dimensions. Springs are highly resistant to pressure, require less
maintenance, and have longer work life, which is why they are widely used in
aerospace antennas, radar, probes, and satellites that help in navigation and
are crucial for the ground service teams.
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Aerospace and
Defense Springs Market Report Highlights
- The market is
anticipated to reach USD 377.7 million by 2025 and witness a CAGR of 5.2%
on account of increasing demand for commercial aircraft and fighter jet
- By type, coil
springs segment is anticipated to witness high CAGR over the forecast
period ascribing to its application in wide range of components in
aerospace and defense sector
- Asia Pacific
is anticipated to witness high CAGR over the forecast period owing to
expanding aerospace sector and MRO facilities in the region
- The aerospace
and defense springs market is fragmented in nature and is dominated by
companies such as, Argo Spring Manufacturing Co., Inc.; M. Coil Spring
Manufacturing Company; Myers Spring Co. Inc.; Ace Wire Spring & Form
Co., Inc.
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https://www.grandviewresearch.com/industry-analysis/aerospace-defense-springs-market/request/rs1
Aerospace and
Defense Springs Market Segmentation
Grand View Research, Inc., has
segmented the global aerospace and defense springs market on the basis of type
and region:
Aerospace and
Defense Springs Type Outlook (Revenue, USD Million, 2014 - 2025)
- Flat Spiral/Power Springs
- Coil Springs
- Torsion, Torque Coil, & Clutch Springs
- Others
Aerospace and
Defense Springs Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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