Aerospace Maintenance Chemicals Market Overview
The market was $6,720.4 million in 2021 and is projected to generate revenue of $8,512.9 million by 2030, growing at a CAGR of 3.8% from 2022 to 2030.
The aerospace maintenance chemicals market is benefiting from the growing demands from flight operators, private owners, and government for the defense sector. This has brought the market to a point where growth would be easier in the coming years. Market Research Future’s (MRFR’s) study encompasses 2018 to 2023 as the forecast period and finds several factors that could boost the market prospect. For instance, the hike in research and development expenditure, easy inclusion of latest technologies, rising demand from MROs, various collaborations, and others are expected to boost the growth pattern. The rising shift towards organic products would open up better avenues of growth, and the market could explore them by investing more in research facilities.
Segmentation:
The global market report on the aerospace maintenance chemical market has been studied on the basis of application, aircraft, nature, and product. Revenues and market volume had been analyzed using this segmentation to facilitate the strategy-making process.
By nature, the market report on the aerospace maintenance chemicals has been segmented into organic and inorganic. The organic segment is getting a boost to support the environment-friendly causes.
By product, the market includes aircraft leather cleaners, aircraft cleaning chemicals, aviation paint strippers, aviation paint removers, degreasers, specialty solvents, aluminum brighteners, aircraft wash and polishes, and others.
By application, the market report includes aircraft parts and MRO. The MRO segment further includes repair, maintenance, and overhaul.
By aircraft, the market for the aerospace maintenance chemicals includes spacecraft, business, general, commercial, helicopter, military, and others. Commercial and defense segments are benefiting much from the hike in expenditure.
Regional Analysis:
The Americas have the upper hand when it comes to the production and consumption of the aerospace maintenance chemicals. This is primarily due to the budgetary expenditure for the defense sector and the hike in the number of flights to accommodate the rising number of passengers. North America would lead the regional market as it has an advantage due to the presence of the US and Canada. Both these countries have structural superiority and high expenditure capacity. These two countries are also known for their easy inclusion of the latest technologies to develop state-of-the-art products. Constant innovations from the research and development sector are expected to drive the market ahead.
In Europe, this growth would be supported by France, Germany, Russia, Italy, the UK, and others as the number of commercial flights are rising to support the demand from the passengers. Many global players are operating from the region, which could boost the market. The Asia Pacific region is also booming as the number of flight operators and defense expenditure is rising.
Competitive Landscape:
A lot of companies are making significant progress in the aerospace maintenance chemicals market by launching their own strategic moves. These moves have mergers, marketing strategies, tie-ups, expansion opportunities, acquisitions, innovations, product launches, and other factors. These companies are Aerochemicals (France), 3M (U.S.), Royal Dutch Shell (Netherlands), Callington Haven Pty Ltd. (Australia), Arrow Solutions (England), Aviation Chemical Solutions (U.S.), Exxon Mobil Corporation (U.S.), Eastman Chemical Company (U.S.), Henkel AG & Co., KGaA (Germany), Nexeo Solutions (U.S.), KLX Inc. (U.S.), Florida Chemical Supply, Inc. (U.S.), Hansair Logistics Inc. (U.S.), and Krayden, Inc.(U.S.). MRFR profiled the lot in their report to understand the market flow for the coming years.
Industry News:
In March 2020, Constant Aviation showed a different route in protecting passengers from any microbial attacks. They worked round-the-clock to ensure proper treatment of around 250 aircraft with FDA-approved antimicrobial shield MicroShield 360. This type of endeavor would help the market. This has become all the more necessary after the recent COVID-19 attack. The three-step application procedure ensures complete coverage and optimum durability.
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