Aerospace Maintenance Chemicals are used to maintain the operational efficiency of aircraft. These chemicals are widely preferred in cleaning materials, paint removers, paint strippers, degreasers, and aircraft wash and polishes.
The growth of the Aerospace Maintenance Chemicals Market is driven by the increasing stringency of safety and environmental regulations by government agencies such as the U.S. Federal Aviation Administration and the European Authority in Aviation Safety. The growing complexity of airframes, systems, and engines is resulting in the increased need for maintenance, repair, and overhaul (MRO) of aircraft, which includes routine inspection, engine maintenance, and composite repair, thereby, driving the growth of the global demand for Aerospace Maintenance Chemicals Market. The demand for MROs is enlarging with which in turn is driving the market growth. Increasing air traffic coupled with the rising number of trips completed in a day is further driving market growth. The growing commercial aviation sector with the increasing number of people traveling by air as a result of lower prices is fuelling the Aerospace Maintenance Chemicals Market globally. Furthermore, increasing R&D investments in the aviation sector by major market players such as Boeing and Airbus are likely to augment market growth. In 2017, Boeing, the leading manufacturer of commercial jetliners, purchased the electric aircraft company Arora Flight Sciences to enhance its technological capabilities.
In 2018, Vantage Aerospace, Inc., a portfolio company of the global private equity investment firm H.I.G Capital, acquired B&B Tritech, a manufacturer of surface treatment solutions for the defense & aerospace industry. This acquisition will strengthen Vantage Aerospace, Inc’s aerospace segment.
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The Global Aerospace Maintenance Chemicals Market has been segmented by Nature, Product, Application, Aircraft and Region.
On the Basis of Nature, the market has been segregated into organic and inorganic.
Based on Product, the market has been segmented into aircraft cleaning chemicals, aircraft leather cleaners, aviation paint removers, aviation paint strippers, specialty solvents, degreasers, aircraft wash and polishes, aluminum brighteners, and others.
Based on Application, the market has been segmented into aircraft parts and MRO (maintenance, repair, and overhaul).
Based on Aircraft, the market has been segregated into commercial, business, general, military, helicopter, spacecraft, and others.
Based on Region, the Aerospace Maintenance Chemicals Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest share of the Aerospace Maintenance Chemicals Market in 2017 due to the growing aerospace industry in the region. The U.S. is the largest consumer of Aerospace Maintenance Chemicals as a result of increased production of aircraft in the region. According to the Aerospace Industries Association (AIA), the U.S. aerospace & defense industry exports grew by 26% over five years, to reach USD 143 billion in 2017. Moreover, rising investments in military aircraft to strengthen the country’s military prowess is also driving market growth.
Europe is another prominent market for Aerospace Maintenance Chemicals with the presence of key players in the aerospace & defense industry such as Airbus, Thale, and Gifas. Product consumption is increasing in the U.K. as a result of the presence of the largest player in the aerospace industry, ADS Group.
Asia-Pacific is expected to be the fastest-growing Aerospace Maintenance Chemicals Market with surging demand for aircraft in developing economies such as India, China, and Thailand. The flourishing tourism industry is further propelling market growth in this region.
There has been considerable growth in the Latin American market with the growing aerospace industry in Brazil and Mexico. Brazil being one of the largest producers of commercial jets in the region is set to drive market growth during the forecast period.
The market in the Middle East & Africa is likely to exhibit considerable growth during the review period with the growing aviation industry in the U.A.E., Oman, and Saudi Arabia.
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