Thrust Vector Control (TVC) System Market: Global Size, Share, Trends, Growth and Forecast Outlook 2022-2032
Aerospace & DefenseRequest PDF Sample Request Discount
- Status : Ongoing
- Published on: AUG 2019
- Report ID: KDMI-5353
- Available Format: PDF/Excel/DOC
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Thrust Vector Control (TVC) System MarketRequest PDF Sample
Thrust Vector Control (TVC) System Market: Overview and Definition
The global thrust vector control (TVC) system market is estimated to grow at a CAGR of 10.5% during the forecast period 2022-2032. The thrust vector control (TVC) system market is expected to grow due to increasing demand for missile defense systems, launch vehicles, and military aircraft. The TVC system allows for greater maneuverability and control of the aircraft or missile, leading to enhanced performance and effectiveness. The market is also being driven by technological advancements, such as the development of smaller, more efficient TVC systems. North America is currently the largest market for TVC systems, followed by Europe and Asia-Pacific. Key players in the market include Honeywell International, Inc., Moog Inc., Woodward Inc., and Parker Hannifin Corporation.
The market research report demonstrates market dynamics which includes growth drivers, restraining factors and opportunities and trends spearheading current nature and future status of this market. Our general approach is to target several individuals with specific questions that we believed would satisfy our research objective. Further, to speed up the data collection process, we employed an online survey, delivered via email. The research team analyzed the results to identify potential opportunities and risks for the market.
In addition, the report offers recent industry activities and value chain analysis for the Thrust Vector Control System Market. Moreover, Porter’s Five Forces analysis demonstrates the five forces which include buyers bargaining power, suppliers bargaining power, the threat of new entrants, the threat of substitutes, and degree of competition in Thrust Vector Control System Market. Along with figures and tables, a market attractiveness and BPS analysis has been provided for every segment in the report.
Thrust Vector Control (TVC) System Market: Key Drivers
The thrust vector control (TVC) system market is primarily driven by increasing demand for enhanced maneuverability and control in military aircraft, missiles, and launch vehicles. Some specific drivers include:
- Growing demand for missile defense systems and long-range strike capabilities.
- Increasing investments in military modernization programs worldwide.
- Technological advancements in TVC systems, such as smaller and more efficient systems.
- Rising demand for unmanned aerial vehicles (UAVs) and autonomous systems.
- The need to enhance aircraft performance and fuel efficiency.
- Government initiatives to develop advanced defense systems and promote local defense industries.
Thrust Vector Control (TVC) System Market: Challenges
The thrust vector control (TVC) system market faces several challenges that could affect its growth prospects. Some of the key challenges include:
- High development and production costs associated with TVC systems.
- Stringent regulatory requirements and safety standards for military and aerospace applications.
- Limited funding for defense spending in certain regions, which could impact the demand for TVC systems.
- Limited availability of skilled labor and expertise in TVC technology.
- Technical challenges related to integrating TVC systems with other avionics and propulsion systems.
- Political instability and conflicts in some regions, which could impact demand for TVC systems.
Thrust Vector Control System Market : Report Scope
Base Year Market Size
Forecast Year Market Size
Thrust Vector Control (TVC) System Market: Segmentation
The research offers a comprehensive analysis of global Thrust Vector Control System Market with respect to following sub-markets:
Based on Technology:
- Gimbal nozzle
- Flex nozzle
- Rotating nozzle
- Others (Injection, jet vanes, and tabs)
Based on Application:
- Launch vehicles
- Fighter aircraft
Based on System:
- Thrust vector actuation system
- Thrust vector injection system
- Thrust vector thruster system
Based on End-user:
- Space agencies
Thrust Vector Control (TVC) System Market: Regional Synopsis
The thrust vector control (TVC) system market can be broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Here's a brief synopsis of the market dynamics in each of these regions:
North America: North America is currently the largest market for TVC systems due to high defense spending and technological advancements in the region. The US is the leading market in the region, with a large number of defense contractors and TVC system manufacturers operating in the country.
Europe: Europe is the second-largest market for TVC systems, with major countries such as the UK, France, and Germany investing heavily in defense modernization programs. The region also has a strong aerospace industry and a significant number of TVC system manufacturers.
Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the TVC system market due to increasing defense spending by countries such as China and India. The region also has a large number of TVC system manufacturers, particularly in China.
Latin America: The Latin American TVC system market is relatively small, with limited defense spending in the region. However, countries such as Brazil and Mexico have shown increasing interest in developing their defense capabilities.
Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth in the TVC system market due to rising demand for defense systems and military modernization programs. The region also has a significant number of TVC system manufacturers.
Thrust Vector Control (TVC) System Market: Recent Developments
Here are some recent developments in the thrust vector control (TVC) system market:
- In 2021, Woodward Inc. signed a contract with the US Navy to provide TVC systems for the Navy's F/A-18E/F and EA-18G aircraft.
- In 2020, Honeywell International, Inc. announced the development of a new lightweight TVC system for small unmanned aerial vehicles (UAVs) and drones.
- In 2019, Moog Inc. announced the completion of flight tests for its TVC system for the U.S. Army's Precision Strike Missile (PrSM) program.
- In 2018, Parker Hannifin Corporation announced the acquisition of LORD Corporation, a leading manufacturer of TVC systems for aerospace and defense applications.
- In 2017, BAE Systems announced the development of a new TVC system for the Eurofighter Typhoon aircraft, which would enhance its maneuverability and mission capability.
Thrust Vector Control (TVC) System Market: Key Players
- Honeywell International, Inc.
- Moog, Inc.
- Woodward, Inc.
- Jansen Aircraft Systems Control, Inc.
- BAE Systems
- Wickman Spacecraft & Propulsion Company
- Parker Hannifin, Inc.
- Sierra Nevada Corporation
- Dynetics, Inc.
Custom Research Requirement? Questions to ask?Get in touch
Custom Research requirement.