Aerospace Maintenance Chemicals Market Size: Industry Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2024
Category: #business  By Deepak Pardhi  Date: 2019-07-20
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Aerospace Maintenance Chemicals Market Size: Industry Growth Factors, Applications, Regional Analysis, Key Players and Forecasts by 2024

Commercial aircraft segment dominated the aerospace maintenance chemicals market accounting for over 35% of the overall revenue share in 2017. This can be attributed to the increasing requirement for maintenance owing to strict regulations concerning passenger security. Growth in public spending for travelling will strengthen the product adoption rate. OEMs are working on superior-grade products to meet the technical specifications, faster operations, and prevent corrosion on the interior and exterior surfaces.

Organic chemicals from aerospace maintenance chemicals market held approximately 69% of the total revenue share in 2017. Operational efficiency and cost effectiveness are the major factors influencing aerospace maintenance chemicals industry penetration. Rising predilection towards product viscosity due to labor friendly maintenance is boosting the industry growth.

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Declining air fare coupled with improving living standards is enhancing the travel and tourism sector growth. This will further strengthen the aircraft business driving the need for higher maintenance, soaring product penetration till 2024. However, inventory management of the chemicals may negatively impact the aerospace maintenance chemicals market.

Predilection of manufacturers towards ease of compatibility with various equipment offering fast operations and superior performance will drive the inorganic chemicals segment growth. The competitive product pricing along with wide availability in customized quantity as per the customer requirements will further boost the aerospace maintenance chemicals industry till 2024.

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North America is expected to surpass USD 2.6 billion by 2024. Increasing maintenance, repairs, & operations activities at competitive prices along with the presence of several maintenance centers will drive the regional demand. The U.S. is dominating the aerospace maintenance chemicals market share owing to the massive expansion of the aerospace industry, positively enhancing the overall business growth.

Arrow Solutions, Eastman, Shell, and The Dow Chemical Company are the major participants in the aerospace maintenance chemicals market. Other notable participants include 3M, Henkel, KLX Inc., and Wesco aircraft. Industry participants are engaged in strategic partnerships to enhance their industry share. For instance, in October 2017, Arrow Solutions announced strengthening of its partnership with distributors in Norway to improve product availability and enhance industry share.

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Government agencies across the globe such as Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) are amending the chemical requirements for maintenance procedures to decrease labor fatalities owing to prolonged exposure. Industry players are heavily investing in R&D activities to enhance their product line and reduce costs. Technological advancements to manufacture environment friendly products is positively influencing the aerospace maintenance chemicals business growth rate during the study period.

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About Author

Deepak Pardhi    

Deepak Pardhi

Deepak Pardhi carries a brief yet notable experience in the digital marketing domain having worked on several projects across a range of niche verticals. Deepak is endorsed with a B.Tech degree in electrical & electronics engineering.

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