Selbyville, Delaware, July 21, 2020 (GLOBE NEWSWIRE) —
Global Market Insights, Inc. has recently added a new report on aerospace plastics market which estimates the global market valuation for aerospace plastics will cross US$ 55 million by 2026. Rising domestic and overseas mode of air transports in emerging economies coupled with growing demand for advanced lightweight aircraft will positively impact on the market growth over the forecast timeframe.
The rising air passenger traffic in conjunction with the growing regional air connectivity is prominently augmenting the demand for low-cost carriers (LCC). The proliferating tourism sector and rising demand for business air travels will further propel the adoption of LCC. According to the CAPA Center for Aviation, in 2018, air passenger traffic carried by top 30 LCC airliners increased to 42.3% from 40.6% in 2017. The integration of high-performance plastics is enabling low-cost carriers to improve their operating margins by enhancing efficiency and lowering emissions. All this will support the aerospace plastics market growth over the study timeframe.
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Regional jets are anticipated to witness significant growth rate of over 7.5% by 2026. The adoption of advanced & innovative technologies is contributing to reduce maintenance costs. For instance, in August 2016, Victrex Plc. delivered Victrex PEAK, a range of high thermoplastics to Commercial Aircraft Corporation of China, Ltd. (COMAC). The combined material solution helps in creating more efficient aircraft floor brackets to its innovative regional jets ARJ21.
The propulsion system will witness growth rate over 9.5% by 2026 owing to the adoption of materials for superior thermal resistance and sliding properties. The materials are lighter compared to other industrial materials with 1/6th of the density of steel. Continuous improvement in performance and specific strength of the material will increase its installation in the propulsion system. Moreover, electrical & dielectric properties and resistance to short peak temperature will further drive the segment penetration.
Retrofit will foresee significant growth and expected to generate over USD 3.5 million revenue by 2026. Airliners are providing aircraft refurbishment and renovation contracts to improve aircraft interiors and enhance consumer experience. For instance, in April 2019, Singapore Airlines awarded a contract to refurbish 14 aircraft. Further, MRO service providers are expanding their service network to serve a large customer base.
Browse key industry insights spread across 223 pages with 237 market data tables & 29 figures & charts from the report, “Aerospace Plastics Market Share & Forecast, 2020-2026” in detail along with the table of contents:
Asia Pacific aerospace plastics market will witness substantial growth with increasing air passenger traffic and expected to generate around USD 12 million revenue by 2026. Airliners across the region are focusing on expanding their fleet sizes to accommodate passengers. For instance, in September 2018, Air Asia ordered 100 A330-900neo aircraft scheduled to be delivered from 2020 to 2028. Further, the establishment of repair centers in the region will drive regional growth. In March 2017, GE Aviation established its repair technology development center for maintenance and overhaul service activities.
Some of the major findings in aerospace plastics market report include:
- Growing adoption of low-cost carriers in Europe.
- Development of new airport infrastructures in emerging economies, thereby rising aircraft demand.
- Rising air travel passenger across the globe coupled with proliferating tourism sector.
- COVID-19 intensified adverse impact on aerospace sector around 14 airlines had or planning to file bankruptcy protection till June 2020.
- Aerospace plastics industry players are focused towards product development, mergers & acquisitions, partnership with research institutions, among other strategies over the long run.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/aerospace-plastics-market
Partial chapters of report table of contents (TOC):
Chapter 3. Aerospace Plastics Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.2.1. COVID-19 impact on industry landscape
3.3. Industry ecosystem analysis
3.3.1. Raw material suppliers
220.127.116.11. COVID-19 impact on raw material supply
3.3.3. Profit margin trends
3.3.4. Distribution channel analysis
3.3.5. Value chain disruption analysis (COVID-19 impact)
3.3.6. Vendor matrix
3.4. Technology landscape
3.4.1. Fused Deposition Modeling (FDM)
3.5. Regulatory landscape
3.5.1. North America
18.104.22.168. Federal Aviation Administration (FAA), DOT
22.214.171.124. European Commission
3.5.3. Asia Pacific
126.96.36.199. Korean Agency for Technology and Standards
3.5.4. Latin America
188.8.131.52. ASTM International
3.5.5. Middle East & Africa
184.108.40.206. South African Civil Aviation Technical Standards (SA-CATS)
3.6. Pricing analysis
3.6.1. Regional pricing
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
126.96.36.199. Middle East & Africa
3.6.2. COVID-19 impact on pricing
3.6.3. Cost structure analysis
3.7. Industry impact forces
3.7.1. Growth drivers
188.8.131.52. North America
184.108.40.206.1. Strong presence of aircraft manufacturers
220.127.116.11.1. Increasing demand for low cost carriers
18.104.22.168. Asia Pacific
22.214.171.124.1. Increasing aircraft deliveries and air passenger traffic
126.96.36.199. Latin America
188.8.131.52.1. Increasing demand for regional and commercial aircrafts
184.108.40.206. Middle East & Africa
220.127.116.11.1. Increasing demand for business jets and helicopters
3.7.2. Industry pitfalls & challenges
18.104.22.168. High cost of advanced materials
3.8. Innovation and sustainability
3.8.1. LEXAN XHR LIGHT sheets
3.9. Growth potential analysis
3.10. Porter’s analysis
3.11. Competitive landscape, 2019
3.11.1. Top players analysis, 2019
3.11.2. Key stakeholders
3.11.3. Strategy dashboard
3.12. PESTLE analysis
3.13. COVID-19 impact on aerospace plastics demand by aircraft
3.13.1. Commercial aircrafts
3.13.2. Regional jets
3.13.3. Business jets
3.13.5. Military jets
Browse related report:
Aerospace Insulation Market Size By Product (Thermal Insulation, Acoustic Insulation, Vibration Insulation, Electric Insulation), By Material (Foamed Plastics, Ceramic Material, Fibre Glass, Mineral Wool), By Aircraft (Commercial Aircraft, Military Aircraft, Helicopters, Space), By Applications (Engine, Airframe), By Platform (Fixed Wing, Rotary Wing), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026
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