Selbyville, Delaware, May 12, 2020 (GLOBE NEWSWIRE) --
According to latest report “Aerospace Sealants Market by Chemistry (Silicone, Fluorosilicone, Polyacrylate, Polyurethane, Polysulfide), Application (Fuel Tank, Airframe, Flight Line Repair, Aircraft Windshield And Canopy, Fuselage), Aircraft (Commercial, Regional, Business, Helicopter, Military), Distribution Channel (OEM, Aftermarket), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aerospace sealants will reach $800 million by 2026.
Increasing MRO activities for repairing aging aircraft is one of the key factors driving the aerospace sealants market growth. Continuous inspection and mandatory checks are required for aircraft for maintaining their airworthiness. Moreover, rising tourism activities are likely to increase air traffic, thus creating a need for MRO operations.
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The polyacrylates segment is likely to grow at a considerable CAGR of over 4% till 2026 owing to superior sealing properties coupled with strong permeability resistance over traditional aerospace sealants. The growing need for strong seal and manufacturing flexibility is expected to drive the market share of polyacrylate aerospace sealants in the aviation industry.
The fuselage segment in the aerospace sealants market is estimated to cross USD 140 million by 2026. Aerospace sealants find usage in filling gaps in the fuselage of an aircraft. These sealants are also capable of sustaining large fluctuations in temperature, which ensures that the fuselage is leak proof.
The military aircrafts will grow at a substantial CAGR above 4.5% through 2026 due to increasing geopolitical tensions resulting in increasing military expenditure. Military aircraft are capable of short and conventional take-off and landing operations. Rising concern for enhancing the military strength of a country drives its production, thereby, creating an upsurge in the market demand.
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The Middle East & Africa (MEA) aerospace sealants market is projected to grow at a substantial CAGR of over 3.5% during the forecast period led by continuous rise in air traffic coupled with high per capita income and prevailing tourism industry. According to the International Air Transport Association (IATA), MEA will witness around 5% growth and register 414 million air passengers by 2035.
The independent aftermarket distribution channel is predicted to register the highest growth of 5% from 2020 to 2026. These MRO service providers form strategic relationships with major aircraft operators to gain a competitive edge in the aftermarket. Also, these players are equipped with skilled technicians and machinery, thus driving the consumption of aerospace sealants.
Some major findings of the aerospace sealants market report include:
- The silicones segment is projected to register a steady CAGR by 2026 owing to its usage in electronic gasketing and sealing overhead surfaces.
- The aftermarket segment is expected to account for nearly 60% of the global aerospace sealants industry by 2026 on account of rising maintenance activities.
- The digitalization of platforms is playing a major role in enabling OEMs for manufacturing aircraft along with enabling a wide range of opportunities and applications in MRO.
- Manufacturers are investing in R&D and introducing innovative new and lightweight aerospace sealant solutions.
Table of Contents (ToC) of the report:
Chapter 3 Aerospace Sealants Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2026
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Potential customers
3.5 Pricing analysis
3.5.1 Regional pricing (Includes COVID impact)
3.6 Technology landscape
3.7 Regulatory analysis
3.7.1 North America
3.7.2 Europe
3.8 Industry best practice and key buying criteria
3.8.1 COVID impact on buying patterns
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.2 Industry pitfall & challenges
3.10 Impact of COVID-19
3.10.1 Aerospace & Defense
3.11 Growth potential analysis, 2019
3.12 Porter’s analysis
3.13 Competitive landscape
3.13.1 Company performance analysis
3.13.2 Strategy dashboard
3.13.3 Key stakeholders
3.14 PESTLE analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/aerospace-sealants-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.