LONDON, Oct. 4, 2016 /PRNewswire/ -- Background:
According to a new market report published by Lucintel, the future of the aerospace maintenance chemical market looks stable with opportunities in commercial, regional jet, general aviation, helicopter, and military aircraft segments. The global aerospace maintenance chemical market is forecast to grow at a CAGR of 1.1% from 2016 to 2021. The major growth drivers of this market are increasing aircraft fleet, increase in flight frequency, and need for maintenance chemicals during various maintenance checks. It is expected that with increase in passenger traffic, air travel is increasing which creates positive growth during the forecast period. In this market, deicing/anti-icing fluids, lubricant and cleaning agent maintenance chemicals are used in the aircraft. Lucintel predicts that the demand for cleaning agent segment is likely to experience the highest growth in the forecast period due to regular and mandatory maintenance checks and cleaning requirements. On the basis of its comprehensive research, Lucintel forecasts that the lubricant segment is expected to be the largest market due to its various properties that improves the efficiency of various aircraft components.
Within the lubricant segment, hydraulic fluid segment in the aerospace lubricant market is expected to experience the highest growth during the forecast period. It is used in all the types of aircraft, turbine powered or piston aircraft. On the basis of its comprehensive research, Lucintel forecasts that the turbine oil is expected to remain the largest segment by product type because it is used in most of the aircraft that are turbine-powered. Commercial and regional aircraft is expected to remain the largest market for lubricants. Commercial aircraft consume more lubricants than any other type of aircraft; these are turbine powered aircraft that will result in high consumption of turbine oil. North America is expected to remain the largest region during the forecast period; it covers the largest aircraft fleet globally along with large number of airlines in the world. Maintenance chemical usage is directly proportional to aircraft fleet size, and an increase in aircraft flights is a growth factor for this market.
These regions with cold climatic conditions will always be major consumers of the deicing/anti-icing products. APAC and ROW are expected to grow with highest CAGR during the forecast period due to growth in aircraft fleet in APAC and ROW region. Increase in passenger traffic, rapid expansion of low-cost carriers and domestic airlines, and growth of long-haul and short-haul markets lead to increased demand for more aircraft The report suggests the development of partnerships with customers to create win-win situations and the development of performance-driven solutions for end users. Shell, ExxonMobil, Eastman, Dow Chemical and Total are among the major suppliers of aerospace maintenance chemical. Some companies are backward integrated, i.e. lubricant manufacturers extract crude oils themselves.
Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for maintenance chemicals in the global aerospace industry by product type, region, lubricant market by product type and lubricant market by aircraft type and has come up with a comprehensive research report, "Growth Opportunities for Maintenance Chemicals in the Global Aerospace Industry 2016-2021: Trends, Forecast, and Opportunity Analysis". The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of maintenance chemicals in the global aerospace industry through 2021, segmented by product type, region, lubricant market by product type and lubricant market by aircraft type as follows:
By product type (Value $ Million from 2010 to 2021)
• Cleaning Agent By region (Value $ Million from 2010 to 2021)
• North America
• Asia Pacific
• Rest of World : Lubricant market: By product type (Value $ Million from 2010 to 2021)
• Turbine Oils
• Piston Engine Oils
• Hydraulic Fluids
• Grease Lubricant market: By aircraft type (Value $ Million from 2010 to 2021)
• Commercial & Regional aircraft
• General aviation
• Military aircraft
This report answers following 10 key questions:
Q. 1. What are some of the potential, high-growth opportunities for maintenance chemical in the aerospace industry, by aircraft type, application and region?
Q. 2. Which product /segments will grow at a faster pace and why?
Q. 3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6. What are some changing demands of customers in the market?
Q.7. What are the new developments in the market? Which companies are leading these developments?
Q.8. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9. How is the competitive rivalry and threat of substitution in this market?
Q.10. What are M&A activities in the last 5 years in this market? What reasons to these activities and how have they impacted the industry?
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