The aerospace sealants market is expected to amass sizeable growth on account of increasing adoption of maintenance, repair, and overhaul (MRO) activities. Numerous airliners prefer to conduct MRO operations on their aging airplanes instead of buying new aircraft, which is often considered to be an expensive alternative.
Growing prevalence of MRO activities could significantly boost the consumption of aerospace sealants over the forthcoming years. While, rapid development in the tourism sector could play a crucial role in proliferating air traffic, thereby driving the demand for MRO operations. Federal authorities have started to impose stern regulations on mandatory checks and routine inspections. This ensures an aircraft’s airworthiness and overall safety.
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An increase in MRO activities for repairing old aircrafts is a key factor supplementing global aerospace sealants market share. Constant inspection and mandatory checks are frequently carried out even during the COVID-19 pandemic where most of the aircrafts in the world are non-operational in order to maintain the airworthiness of the vehicle. This is important because of the high cost of maintenance of aircrafts as well as the vehicle components.
Reportedly, the independent aftermarket distribution channel of aerospace sealants was expected to register a CAGR of more than 5% during between 2020-2026. These MRO service providers develop a strategic relationship with leading aircraft operators to achieve a competitive advantage in the aftermarket. Moreover, the independent aftermarket players are equipped with skilled machinery and technicians.
In terms of application spectrum, aerospace sealants find wide usage in filling gaps in the fuselage of an aircraft vehicle. These sealants carry the ability to sustain large fluctuations in temperature that ensures that the fuselage is leak proof. With respect to the chemistry, polyacrylates segment has gained considerable demand due to its superior sealing properties along with a strong permeability resistance over conventional aerospace sealants.
The need for a strong seal solution and the flexibility is manufacturing had driven the market share of polyacrylate aerospace sealants in the aerospace sector. Although the current coronavirus outbreak has largely affected the aviation industry across the globe, the rapid developments that have been carried out in the aerospace sector will add impetus to the aerospace sealants market outlook.
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Over the years, the Middle East and Africa region has showcased a spike in air traffic due to an improvement in purchasing power among people and an emerging tourism sector. As per estimates, the MEA aerospace sealants market size was anticipated to grow at a CAGR of more than 3% over 2020-2026.
According to a study carried out by the International Air Transport Association, MEA aviation sector was likely to witness a growth of 5% and register nearly 414 million air passengers by the end of 2035. The number, however, may now be affected due to the ongoing pandemic and restrictions in travel.
Major market players include Henkel, PPG Industries, 3M, Industries Royal Adhesives & Sealants, and Permatex among several others.
Major Key Points from Table of Content:
Chapter 7 Aerospace Sealants Market, By Distribution Channel
7.1 Aerospace sealants market distribution channel insights
7.2.1 Market estimates and forecast, 2016 - 2026, (Tons) (USD Thousand)
7.2.2 Market estimates & forecast, by region, 2016-2026 (Tons) (USD Thousand)
7.3.1 Market estimates and forecast, 2016 - 2026, (Tons) (USD Thousand)
7.3.2 Market estimates & forecast, by region, 2016-2026 (Tons) (USD Thousand)
7.3.3 Operator/airline in-house
184.108.40.206 Market estimates and forecast, 2016 - 2026, (Tons) (USD Thousand)
220.127.116.11 Market estimates & forecast, by region, 2016-2026 (Tons) (USD Thousand)
7.3.4 Airline third party
18.104.22.168 Market estimates and forecast, 2016 - 2026, (Tons) (USD Thousand)
22.214.171.124 Market estimates & forecast, by region, 2016-2026 (Tons) (USD Thousand)
7.3.5 Independent MRO
126.96.36.199 Market estimates and forecast, 2016 - 2026, (Tons) (USD Thousand)
188.8.131.52 Market estimates & forecast, by region, 2016-2026 (Tons) (USD Thousand)
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