Market Overview

Thrust Vector Control (TVC) system is the ability of an aircraft, rocket, and other launch vehicles to handle the direction of the thrust from its engines in order to control the attitude or angular velocity of the vehicle. The system deflects the directions of engine thrust during operation to provide control power for an aircraft and is used to correct deviation from planned path. TVC system is possible and effective only when propulsion system is creating thrust.

Major factor attributed to growth of the TVC system is the increasing production of military aircrafts. For instance, AIRBUS published its order, deliveries, and operation status till October 2017. The total order received by AIRBUS for military aircraft was 1,948 and the total number of deliverers was 1,527 with 1,212 military aircrafts are in operation. The major advantage of using TVC system in military aircraft is its ability to improve the maneuverability of the aircraft. Moreover, the system offers shorter take-off and landing runs and also extended flight envelope. Therefore, these factors are expected to drive growth of the TVC system market over the forecast period.

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Market Dynamics

The market for TVC system in North America accounted for the largest market share in 2017 and is expected to remain largest over the forecast period. This is owing to presence of major manufacturers of military aircrafts such as Lockheed Martin, Dassault Aviation, Pentagon, and others in the region. For instance, according to the press release of Lockheed Martin, December 2017, Lockheed Martin delivered 66 F-35 fighter jets to the U.S. Such rise in production of military aircrafts is expected to increase demand for TVC systems in North America.

Moreover, growing investment of the U.S. government on Military and Defense sector further propels growth of the TVC system in North America. For instance, according to the U.S. Government Spending Analysis, in 2016, the U.S. government spent US$ 593.40 billion on military and it increased to US$ 598.70 billion in 2017. Such growing investment is expected to further contribute to increasing production of military aircrafts. This in turn is expected to propel demand for TVC systems in the region.

The market for Asia Pacific region is expected to witness significant growth with highest CAGR over the forecast period. This is owing to increasing government investments on launching new rockets and launch vehicles. For instance, according to the IBEF (India Brand Equity Foundation).org analysis, in August 2017, the government of India sanctioned US$ 1.35 billion to Indian Space Research Organization (ISRO). The aid helps ISRO to launch 21 rockets and 50 satellite within 4 years. Therefore, increasing production of rockets and satellites is expected to propel demand for TVC system in Asia Pacific.

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