This paper presents the characteristics of volumetric efficiency of an axial type piston pump considering the piston tilting. A numerical analysis is carried out in order to obtain the pressure distribution considering the fluid inertia at the notch of the valve plate. The cylinder pressure variation and the discharge flow rate are measured experimentally according to the operating conditions such as supply pressure, rotational speed, and viscosity of the working fluid by using the cam type test apparatus. Leakage is also measured considering piston tilting. The characteristics of the volumetric efficiency are analyzed with respect to various operating conditions and leakage is also analyzed according to the piston tilting angle. Results are applicable to improve the design of an axial type piston pump.