According to a study, Aerospace Maintenance Chemical Market by Research Dive, the global market will surpass $ 8,512.7 Million by 2026. Rising air travels along with rising air passengers and decreasing costs of air tickets are some of the aerospace maintenance chemical market insights.
Increase in demand for fuel efficiency, coupled with rising space exploration activities are the key factors boosting the global aerospace maintenance chemical industry during the estimate period. Moreover, rapid growth in the number of air passengers also causes the market to witness a significant growth over the coming years. Growth in environmental concerns related to the harmful emissions are causing the government bodies to adopt stringent regulations in order to curb these emissions. This will act as a significant threat to the growth of aerospace maintenance chemicals market. Moreover, this factor also increases stress on the manufacturers to adopt eco-friendly chemicals, as they are less harmful and release less emissions compared to synthetic chemicals. This act as an important investment opportunity for the operating companies in the global market.
Aircraft cleaning solvents market will generate revenue of $1,663.3 million by the year 2026, and is anticipated to rise at 2.7% CAGR during the estimate period. The adhesives market is anticipated to increase at 3.8% CAGR, and will surpass $1,358.4 million by 2026.
Global market for use in light passenger jets will generate revenue of $3,121.2 million by end of 2026 and is anticipated to grow at 3.6% CAGR. This is majorly due to the rising domestic passengers in the developing economies of Asia-Pacific and Europe region. The global aerospace maintenance chemical market for helicopters will reach $1,298.8 million by 2026, rising at a CAGR of 3.2%.
The organic aerospace maintenance chemical market growth will be at 3.2% CAGR, generating a revenue of $6,890.4 million by 2026. Rising preference from the producers, owing to the properties of organic chemicals is the major factor driving this segment growth. It is estimated that inorganic chemicals market will surpass $1,622.3 million by 2026 at CAGR of 2.4%.
North America aerospace maintenance chemical market will generate revenue of $2,933.5 million by end of 2026 and is anticipated to rise at 2.8% CAGR during the analyzed period. Asia-Pacific market registered a growth rate of 3.6% during the forecast period. It is expected that this market will surpass $1,783.5 million by 2026. China, India, and South Korea are the key contributors to the growth of regional market.
Some of the aerospace maintenance chemical market players are Airbus SAS, AAR Corporation, Bombardier Inc., Air France Industries KLM Engineering & Maintenance, Exxon Mobil Corporation, Boeing Company, Delta TechOps, GE Aviation, Embraer S.A., Henkel AG & Co. KGaA, Eastman Chemical Company, and Nexeo Solutions among others. Advances in aerospace maintenance chemical market include joint ventures and mergers & acquisitions. In February 2018, one of the market players, AAR Corp. formed a joint venture (JV) with Indamer for developing a new MRO (Maintenance Repair and Overhaul) services facility in Nagpur, India. This move will improve the current operations and also help the growth of MRO services in the country.
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