FMI Revises Aircraft Tube and Duct Assemblies Market Forecast, as COVID-19 Pandemic Continues to Expand Quickly
The global aircraft tube and duct assemblies market will reach revenues of US$ 1.8 Bn in 2029, witnessing a steady CAGR during 2019 - 2029. The industry is receiving tailwinds from the highly carbon intensive aerial transportation industry, which is generating strong demand for emission and material consumption reductions, according to new insights offered by Future Market Insights (FMI).
"OEMs are projected to hold more than 90% share in the global aircraft tube and duct assemblies market, as the replacements of tube and duct assemblies is found to be substantially limited," says the FMI report.
Key Takeaways of Aircraft Tube and Duct Assemblies Market Study
- Aluminum components remain top-selling product category, with a third of market share projected through 2029.
- 3D printing processes for manufacturing aircraft tube and duct assemblies are poised for promising growth.
- Titanium based materials to find extensive usage in high temperature applications such as engine components.
- Greater focus of manufacturers set on maintenance, repairs and overhaul.
- North America and Europe are projected to occupy a major chunk of the global market value.
Aircraft Tube and Duct Assemblies Market - Top Growth Drivers
- Record highs in global defense spending is a key growth driver in the aircraft tube and duct assemblies market.
- Development of lightweight materials for production, and the increasing aircraft sales will drive revenue.
- Reduced costs of air travel, supported by a growing middle class enhances marketability.
Aircraft Tube and Duct Assemblies Market - Key Restraints
- Government laws and regulations are a key challenge for aircraft tube and duct assemblies manufacturers.
- The rising use of lightweight materials in components generate challenges in terms of clamping processes which make assemblies complex, thus hindering adoption.
Competition Landscape of Aircraft Tube and Duct Assemblies Market
Global aircraft tube and duct assemblies market is moderately consolidated. Some of the prominent players include but are not limited to Eaton, Unison Industries, Fiber Dynamics Inc., RSA Engineered Products LLC, Fiber Dynamics Inc., STEICO Industries Inc., Larom Manufacturing Corporation, AmCraft Manufacturing Inc., Leggett & Platt, Woolf Aircraft Products Inc., Flexaust Inc, and PMF Industries Inc. Players are directing their focus towards repair solutions instead of replacements with full service, thus aiming for cost reductions. Key players are also focusing on expanding their footprint by setting up distribution and production facilities in untapped regions.
More about the Report
This Future Market Insights study of 300 pages offers actionable insights on global aircraft tube and duct assemblies market. The market analysis is based on application (engine bleeds, thermal anti-ice, pylon ducting HVAC enamel, fuselages, inlets/exhaust, environment control systems, lavatories, and waste systems), aircraft type (commercial aircraft and military aircraft), material (steel, nickel, titanium, aluminum, composite, and inconel), sales channel (OEMs and aftermarket) across seven regions (Middle East & Africa, Oceania, East Asia, South Asia, Europe, Latin America and North America).
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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