Rise in investments made in the defense sector by major nations will foster significant aerospace and defense chemical distribution market demand in the forthcoming years.
Global Aerospace and Defense Chemical Distribution Market is set to grow from its current market value of more than $4bn to over $5bn by 2025, according to a new research report by Global Market Insights, Inc.
Increase in aircraft maintenance, repair and overhaul (MRO) activities will drive aerospace and defense chemical distribution market trends over the forecast time period. Surge in the demand for air travel across the globe and the need to replace aging aircraft are some mains reasons contributing towards an increase in the global MRO demand.
Rise in the disposable income in the middle-class and growing population in emerging nations like China and India has induced an exponential increase in air traffic. The trend will substantially boost the demand for aircraft in the future, which in turn will thrust aerospace and defense chemical distribution market size over the analysis period.
The aerospace industry is likely to witness a very high demand for cleaners and solvents owing to their frequent use for the maintenance of the aircraft. Adhesives that are used in the aviation sector comprise structural acrylics, solvent-based, water-based and epoxy based.
The adhesives & sealants segment is anticipated to account for nearly 15% of aerospace and defense chemical distribution market share by 2025, due to their significant function in the aircraft manufacturing and repair operations.
Acrylic-based adhesives are primarily used to bond the electric motors to magnets whereas epoxy-based adhesives contribute to weight reduction and give additional strength to the aircraft.
Rise in investments made in the defense sector by major nations will foster significant aerospace and defense chemical distribution market demand in the forthcoming years. The defense segment, holding a market share of around $800m in the year 2016, encompasses both non-combat and combat aircrafts.
Growing number of applications have bolstered aerospace and defense chemical distribution market outlook, from the need to maintain interiors, engine and airframes. Surge in the demand for hydraulic fluids and lubricants will help garner considerable share in the system segment.
System segment includes flight controls, hydraulics, landing gear, cooling system, bleed system, among others. It is estimated that the demand for global air transport MRO had reached nearly USD 64.3 billion in the year 2015 and is poised to generate a staggering USD 96 billion by the end of the projected time period.
Distribution channels play a key role in driving the aerospace and defense chemical distribution market size. The products are distributed either by independent distributors, directly by manufacturers or through brokers.
An increase in the demand for new aircraft as well as the increase in the maintenance and repair activities during its life cycle, will influence the product demand. Key channels are original equipment manufacturers (OEMs) and the aftermarket players.
Europe stands an important regional market due to the massive size of its aerospace industry. Wide use of the product in manufacturing as well maintenance of aircraft is expected to foster the aerospace and defense chemical distribution market share over the coming years.
France secured a notable share in the Europe region owing to a thriving aircraft production, resulting from an increase in air travel in in European Union.