As per estimates, aerospace maintenance chemicals market size stood at a modest USD 7 billion in 2017. However, increased global connectivity through airlines has raised the frequency of air travel – a trend has provided an impetus to the travel and tourism sector. Thus, with the growth of the aerospace domain, aircraft maintenance has emerged as a niche vertical, essentially propelling aerospace maintenance chemicals market. —
This business space encompasses numerous products along the likes of aircraft leather cleaners, specialty solvents, aircraft cleaning chemicals, degreasers, aviation paint strippers, etc. Aircraft cleaning chemicals among these is estimated to be a major contributor toward aerospace maintenance chemicals market share, given their massive demand for thoroughly disinfecting and cleaning aircrafts. Aircraft cleaning service providers are required to deal with problems like limited service time due to enhanced flight frequencies, strictly abiding by ground time schedules and errant weather conditions.
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Aircraft cleaning chemicals segment is predicted to be valued at USD 2.5 billion by 2024. High product usage in the aircraft exteriors and interiors will escalate the industry growth. Additionally, fast and efficient operation in a wide range of defense and commercial aircrafts will further accelerate the product demand. Aviation paint removers segment will exhibit sturdy growth rate owing to benefits such as extended shelf life, fast paint removal, and superior operation.
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. Military aircrafts will pose a growth rate of over 3% due to rising investments in military aviation across the globe. For instance, in 2018, the U.S. amplified its military spending approximately by USD 80 billion, thereby augmenting industry growth.
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.
The vast expanse of the aerospace industry in North America, especially in the U.S. and the formidable fleet of aircrafts that the U.S. military and defense sector encompasses, will provide a major push to North America aerospace maintenance chemicals market. In fact, as per estimates, North America industry size stood at USD 2 billion in 2017, and is expected to register a CAGR of 2.5% over 2018-2024.
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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.
Glimpse of Table of Content (ToC)
Chapter 3 Aerospace Maintenance Chemicals Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.3 Profit margin trends
3.3.4 Distribution channel analysis
126.96.36.199 On-site support
188.8.131.52 Online sourcing and procurement
184.108.40.206 Aerospace manufacturing value chain analysis
3.3.6 Vendor matrix
3.4 World fleet
3.5 Global GDP & airline traffic growth
3.6 Pricing trends by region
3.6.1 North America
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.6 Cost structure analysis
3.7 Technology landscape
3.7.1 Aircraft coating remover - Eco friendly hybrid strip
3.8 Regulatory landscape
3.8.1 North America
220.127.116.11 Registration, evaluation, authorization, and restriction (REACH)
3.8.3 Asia Pacific
3.8.4 Latin America
3.9 Industry best practices & key buying criteria
3.10 Industry impact forces
3.10.1 Growth drivers
18.104.22.168 North America
22.214.171.124.1 Increasing demand for fuel efficiency in aviation industry
126.96.36.199.2 Increasing space exploration and defense industry
188.8.131.52.1 Emerging space industry
184.108.40.206 Asia Pacific
220.127.116.11.1 Positive outlook for MRO industry
18.104.22.168 Latin America
22.214.171.124.1 Low labor cost
126.96.36.199.1 Increasing number of personal jets
3.10.2 Industry pitfalls & challenges
188.8.131.52 Stringent government regulations for chemicals used for maintenance & repair
3.11 Innovation & sustainability
3.12 Growth potential analysis, 2017
3.13 Porter’s analysis
3.14 Competitive landscape, 2017
3.14.1 Company market share, 2017
3.14.2 Patent landscape
3.14.3 Strategy dashboard
3.15 PESTEL analysis
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