Stakeholders envisage facilities management market share to proliferate at a robust pace in the wake of unprecedented surge in smart city projects. Smart cities—integrated, powered and enabled by digital technologies—have propelled commercial spaces, transportation sector, namely. In recent years, awareness of facilities management has heightened owing to expanding tourism and hospitality industries.
Palpable surge in investments in construction and real estate is expected to underscore robust-looking facilities management market size. For instance, the Canadian government issued an additional funding of US$ 81.2 bn in 2017 across five main funding streams, including green infrastructure; public transit; social infrastructure; trade & transportation projects and meeting the ‘unique’ needs of rural and northern communities. Apparently, the unique needs include facilities to underpin food security, improved broadband connectivity and local access roads.
The Investing in Canada plan propounded in Budget 2016 and expanded on in Budget 2017, aims to build advanced economic cities. With burgeoning construction projects, demand for various services, including maintenance, construction, electric, operation and mechanical work has soared in recent times.
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Facilities management market size is projected to surpass US$ 2 trillion by 2025, according to the latest research report by Global Market Insights, Inc.
Despite companies in the late 2000s focused on insourcing, of late there has been notable surge in outsourcing consumption. Companies tend to streamline their operations by embracing outsourcing that reduces business risks, expands profitability, grows competitiveness, enhances productivity and lets companies focus on their major business and competitive advantage.
As such, the outsourced services segment is slated to expand profoundly during the forecast period. That said, seemingly tepid adoption of outsourced FM services may dent the growth of the industry. Meanwhile, given that outsourcing apparently enhances operational efficiency, the outsourced services will underscore facilities management market size.
Popularity of smart homes and offices, including HVAC systems, fire safety systems, elevators, mechanical equipment has augured well for hard services segment that is set to hold significant share during the forecast period. As such, potential dominance of hard service segment is slated to bolster facilities management market share by 2025.
North America facilities management market is anticipated to expand robustly against the backdrop of proliferating tourism industry. With huge revenue at stake, governments globally are vying to woo would-be travelers to their countries led by aggressive marketing and favorable policies.
According to International Trade Administration (ITA), the U.S. travel and tourism industry garnered an economic output of over US$ 1.6 trillion in 2017. The dramatic upsurge witnessed in the number of tourists has been instrumental in rendering facilities management services across shopping malls, airports, amusement parks, and large food centers.
Leading companies are grappling to secure a government deal for FM services to augment their profitability and expand facilities management market size. In Q1 2019, Madrid City Government inked a four-year contract worth 18.62 mn with the facility management company ACCIONA. Reportedly, the Madrid City picked ACCIONA to enhance energy efficiency in 400 municipal buildings, including sports centers, schools, social and cultural centers, among others.
Author Name : Sunil Jha
Escalating demand for passenger and military helicopters, along with rising defense spending worldwide is anticipated to drive helicopter blades market outlook. Rotor blades are vital parts for any helicopter as they can significantly impact crucial flight parameters like cruise speed, climb rate, and payload capacity. Well-designed, high-performance rotor blades can offer improved controllability, especially during operations like rescue missions, air medical services, executive endeavors and more.
U.S. Helicopter Blades Market, By Blade Location, 2018 & 2025, (USD Million)
Rising production of short-range passenger helicopters coupled with growing demand for air taxi services worldwide will propel helicopter blades industry share. For instance, in 2019, the Airbus-backed on-demand helicopter service Voom announced plans to add more locations to its app-based air taxi service.
Moreover, increasing deployment of helicopter hailing services will offer commendable growth proceeds to the helicopter maintenance & repair sector. In 2019, leading military, corporate and regional aircraft maintenance firm, First Aviation Services Inc. announced acquisition of renowned helicopter rotor blade repair company Aviation Blade Services, Inc. to expand its market reach. Driven by such initiatives, helicopter blades market is slated to garner significant revenues over the forecast period.
Based on material, carbon fiber reinforced plastic (CFRP) segment is estimated to account for a considerable share in helicopter blades market in the future. Demands for CFRP can be attributed to its key characteristics like lower weight, higher stiffness, and superior strength to weight ratio. Manufacturers are also increasingly developing carbon-fiber blades to minimize production cost and improve operational margins.
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For instance, in 2018, rotor-blade maker Van Horn Aviation exhibited its FAA-certified composite main and tail rotor blades, made from carbon-fiber skins & spars, foam cores, and replaceable abrasion strips for the Bell 206L Long Ranger helicopter, claiming service life of the composite blades to be two to four times more than their metal counterparts.
Rising technological advancements in the blade manufacturing industry and growing adoption of carbon-fiber reinforced plastic will further bolster helicopter blades industry size. In 2019, a joint venture program between Thermwood and Bell developed the world’s largest 3D printed autoclave tool for helicopters which are estimated to produce helicopter blade molds that meet Bell’s tooling requirements.
Helicopter blades market may to accrue significant returns from the military sector. Increase in defense spending and rising military budget worldwide will positively influence industry trends. Rise in number of advanced combat helicopters orders is expected to supplement market share. According to credible reports, around 500 helicopters are expected to be delivered to eastern European countries by 2030, creating opportunities for U.S. manufacturers. While, in 2019, the German government released its tender for military helicopter which includes procurement of 45-60 choppers by 2023 and beyond.
The Russian Federation has also motivated many nations to increase military spending on defense helicopters. In 2019, the Russian defense ministry awarded 46 contracts worth over $16 billion to local industry, included orders for 98 Mil Mi-28NM attack helicopters that are anticipated to be completed in 2021. Investments such as these in the military sector will in turn augment helicopter blade market size over 2019-2025.
North America helicopter blade market is anticipated to add impetus to the global revenue share, primarily due to the presence of key helicopter manufacturers like Boeing Rotorcraft Systems, Lockheed Martin and more. Increasing prominence of app-based, on-demand helicopter hailing services will supplement regional market growth.
Rising defense budget across the region will positively influence industry share. For instance, the Pentagon FY 2020 budget proposes allocation of $790 million for R&D in Future Vertical Lift (FVL) military helicopters. The budget also includes nearly $1.7 billion for 73 U.S. Army UH-60M Black Hawk helicopters by Sikorsky.
Development of advanced manufacturing processes along with rising helicopter production worldwide will drive helicopter blades market growth. Use of FAA certified helicopter blades will ensure enhanced safety and reliability to operators. The development of 3D printed blade technologies will also enhance the market outlook.
Moreover, long-term contracts with helicopter manufacturers and increasing investment in R&D to develop advanced combat helicopters will improve industry share. According to Global Market Insights, Inc., helicopter blades market size is estimated to surpass US $685 million by 2025.
Author Name : Mateen Dalal