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Intensifying military aircraft demand to augment aerospace and defense ducting market size over 2019-2025
With the growing number of air passengers and increasing aircraft demand, aerospace and defense ducting market size has been estimated to grow significantly over 2019-2025. Maintaining aircraft cabin temperature and pressure are very important as the passenger aircrafts cruise at high altitudes. Due to lower pressure and temperature at higher altitudes, air-conditioning system installation in aircrafts play an important role in both human health and comfort. Companies toiling to enhance customer experience and airlines lowering their fares to serve a wider consumer base will add impetus to aerospace and defense ducting market trends in the forecast years.
U.S. Aerospace & Defense Ducting Market, By Application, 2018 & 2025, (USD Million)
Dropping air fares have been playing a crucial role in positive growth of aerospace and defense ducting market size. Low air fares will increase the number of passengers and consequently demand for improved customer experience. Recently it has been reported that air fares in Australia have fallen by 10 per cent since July 2018. The index of business class fares fell by 0.2 per cent in July and by 11.6 per cent from the peak recorded in June 2011. More affordable rates will predictably raise number of air travelers. As comfort and convenience of customers become paramount, efforts by airlines in these areas are helping to expand aerospace and defense ducting market share.
Lowering air fares has been raising the number of passengers wanting to travel by air which in turn will augment aerospace and defense ducting industry outlook. The International Air Transport Association (IATA) has disclosed that current trends in air transport predict passenger numbers can double to 8.2 billion in the year 2037. China will displace the United States as the world’s largest aviation market in the mid of the year 2020. China rebalancing its economy towards consumption will reinforce strong passenger demand over the long term. The number of air passengers have been predicted to increase with rapidly expanding aviation sector which will push the growth graph of aerospace and defense ducting industry forward.
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Increased air travel has naturally created a demand for aircrafts which has encouraged aircraft manufacturers to increase production. To address the huge demand, Boeing has reportedly delivered 69 737 airplanes in December 2018 and set a new annual record of 806 deliveries in 2018. The company has surpassed its previous record of 763 deliveries in 2017. Rapidly growing demand and production of aircrafts equipped with various features has been improving customer experience. Aerospace and defense ducting market size will also expand considerably over the forecast duration owing to augmented aircraft production.
Besides commercial aircrafts, demand of military aircrafts is also on the rise to enhance national security. According to the prominent sources, the U.S. air force must inflate its operational squadrons by nearly 25% in the years to come. The requirement has been recommended to deal with the growing military might of Russia and China and to protect the U.S. against violent extremist forces. Sources also cited that the number of squadrons, bombers and tankers, a mix of fighters and drones, should be raised from 312 at present to 386 by the year 2030. The Air Force needs light weight aircrafts with greater efficiency and competence to deal with high pressure and temperature. Intensifying demand of such aircrafts in the Air Force is one of the crucial factors that will augment revenue share of aerospace and defense ducting market.
In order to strengthen their stance in aerospace and defense ducting industry, several companies are following different growth strategies. For instance, Meggitt PLC, a leading international company specializing in high performance components and sub-systems for aerospace, defense and selected energy markets, has been awarded a fixed price contract by General Dynamics Land Systems (GDLS) to develop an Advanced Cooling System for the next generation ground combat platforms. Meggitt has manufactured more than 2,480 hydraulically powered Thermal Management Systems (TMS) for GDLS with additional 450 in process.
Businesses are also working on their current joint ventures as a part of the plan to increase their aerospace and defense ducting market share. Recently, the joint venture of Eaton with Shanghai Aircraft Manufacturing Co. (SAMC) secured approval by the authorities to offer maintenance, repair and overhaul (MRO) services on tubes and ducting to clients in the APAC region. With the approval, the current facility of Eaton-SAMC joint venture in Shanghai will immediately start serving as a ducting, tube and hose repair station. Such expansions and joint ventures will help to enhance the aerospace and defense ducting industry landscape in APAC region.
Growth of aerospace and defense ducting market will be helped by the companies toiling to expand their footprint globally with big contracts and regional expansions. The need for strengthening national security is also gaining paramount importance which will supplement aerospace and defense ducting industry growth significantly. According to a latest research report compiled by Global Market Insights, aerospace and defense ducting market size is forecast to surpass $7 billion by 2025.
Author Name : Anchal Solanki
Seismic reinforcement materials market to be driven by increasing infrastructural development
Seismic reinforcement materials market is poised to witness momentous growth over the ensuing years, primarily owing to the demand for seismic proof structures in earthquake-prone areas across the world. The product demand from a slew of end-users including residential, commercial, industrial, and infrastructural sectors will also support market growth. For the uninitiated, seismic reinforcement or seismic retrofitting is the process of making a structure more resistant to the severe consequences of an earthquake.
U.S. Seismic Reinforcement Materials Market By End-use Sector, 2014 – 2025 (USD Billion)
Increasing preference for earthquake resistant buildings will be a major driving force augmenting the product demand. Strong earthquakes are extremely dangerous and result in millions of casualties each year. Most earthquake deaths are results of structural failures. Seismic retrofitting of existing structures in earthquake-prone regions to make them more resistant to ground motion and soil failure will bolster global seismic reinforcement materials market in the coming years.
Earthquake is a natural phenomenon, but the amount of damage it causes can be a huge threat to a country’s economy. Especially for the industrial sector, natural disasters like earthquakes can destroy tangible assets like buildings and equipment along with human capital, bringing down production capacity. The vulnerability of industrial buildings due to their high exposure, needs to be protected through proper seismic retrofitting modifications. Owing to these factors commercial seismic reinforcement materials segment is likely to exhibit growth in the succeeding years.
The imposition of building codes is an effective way to ensure that people like engineers, contractors, and builders are inclined towards the construction of earthquake resistant structures. For instance, FEMA’s National Earthquake Hazards Reduction Program (NEHRP) recommends a set of seismic provisions for new and existing structures to reduce the fatalities and property losses caused by earthquakes. Such trends will further boost material demand, thereby augmenting seismic reinforcement materials market.
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The infrastructure development sector garnered immense proceeds in the past and is projected to retain its status in the industry over 2019-2025. This development can be attributed to the extensive use of seismic reinforcement materials in infrastructure projects such as bridges, flyovers, tunnels, etc. Increasing investment in infrastructural development projects will drive product demand. As per credible estimates, Asian Infrastructure Investment Bank (AIIB) has made plans to finance infrastructure projects worth $10 to $12 billion. Such investments could fuel the seismic reinforcement materials industry from the infrastructure development sector.
The bridges and flyover segment is slated to garner considerable growth over the coming years. Seismic retrofitting in bridges and flyovers helps reduce the intensity of the disaster, in addition to aiding rescue and relief operations. Rising urban congestion in emerging economies has accelerated the pace of development of bridges and flyovers, thereby elevating segmental growth for seismic reinforcement materials market.
North America seismic reinforcement materials market is anticipated to accrue appreciable gains in the global market in the coming years. In countries like the U.S, thousands of shocks of varying intensity occur every year and most of the coastal states are prone to earthquakes. Government grants like the Brace + Bolt program which provides homeowners grants up to $3,000 for seismic retrofits, will also boost product demand. The country houses one of the world’s largest construction industry, and increasing trend of building more earthquake resistant structures would upscale seismic reinforcement materials market share in the future.
An upturn in infrastructural activities in the Asia Pacific market will also drive the demand for seismic retrofitting. Rapid urbanization across countries like India, China, and other Asia Pacific nations will proliferate the need for major bridges, flyovers, airports, and other giant structures. The increasing deployment of advanced materials and construction equipment including seismic retrofitting materials in order to deal with regional geological vulnerabilities will boost market size in the Asia Pacific.
Seismic retrofitting of vulnerable structures is more than necessary; such modifications not only prevent property damage but protect the lives and assets of building occupants. Adherence to seismic retrofitting measures by various commercial and residential buildings, paired with favorable government regulations will continue to support product demand over the ensuing years.
According to a research report by Global Market Insights, Inc., the seismic reinforcement materials market is anticipated to be worth more than $40 billion by 2025.
Author Name : Krithika Krishnan
APAC automotive air intake manifold market to accrue heavy gains over 2017-2024, driven by the rising automobile production
Hydrogen Engine Center’s recent launched intake manifold technology has marked a quantum leap in automotive air intake manifold market. This new design will apparently overcome the air & fuel imbalance in all the V8 engines, leading to reduced power and operational inefficiency. In addition, the technology is designed to improve the overall power output between 4% to 8% on almost all the internal combustion engines and can work on any type of combustion engine with four or more number of cylinders. The fact that this design will halt the backfiring of V8 engines with the usage of hydrogen as a fuel would certainly impel automotive air intake manifold market in the years to come.
U.S. Automotive Air Intake Manifold Market Size, By Vehicle, 2013 – 2024 (USD Million)
Recently, Ford India unleashed the 1.5-liter Ti-VCT, a three-cylinder petrol engine, that would open new growth avenues in India automotive air intake manifold industry. The manufacturing unit of the firm based in Sanand, Gujarat will manufacture this innovative petrol engine that will fulfill the demands of both the regional and global automobile sector, as it offers enhanced fuel efficiency and helps reduce the carbon emissions in the environment.
Key automobile manufacturers have been striving to expand their production base lately, given the intense competition and product demand. Holley Performance Products Incorporation, for instance, has established a manufacturing unit at Franklin in the U.S, which is likely to augment the vehicle production and increase the number of jobs across the automotive sector. The numerous developments underlining the automotive domain and automotive aftermarket have led experts to predict that automotive air intake manifold market will indeed experience lucrative growth prospects over 2017-2024.
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The substantial rise in the demand for vehicles across Indonesia, China, and India has led to an improvement in the vehicle production capacity, which would certainly augment APAC automotive air intake manifold industry. Furthermore, APAC has been predicted to contribute over 45% toward global automotive air intake manifold market revenue by 2024, driven by the ever-expanding automotive sector in the region.
Germany on the other hand, houses some of largest automobile manufacturing firms such as Volkswagen, Audi, Mercedes Benz, and BMW, which would considerably stimulate Germany automotive air intake manifold market. In addition, escalating demand for passenger cars across the region, resulting in an increase in the vehicle production will further augment the regional growth.
Reputed players such as MAHLE Gmbh, Aisin Seiki Company Limited, Keihin Corporation, Röchling Group, Mikuni Corporation, and Sogefi S.p.A partaking in automotive air intake manifold industry share have been focusing on expanding their consumer base and brand visibility across myriad geographies. Citing an instance, in the second quarter of 2017, Rochling Group commissioned its first automobile manufacturing plant in Mexico.
Favorable trade policies and the prevalence of effective product distribution channels have also considerably augmented this business space. Manufacturers have lately been adopting just-in-time strategies that has resulted in high product penetration across the automotive sector, thereby stimulating automotive air intake manifold industry. As per Global Market Insights, Inc., automotive air intake manifold market will cross a targeted revenue margin of USD 51 billion by 2024.
Author Name : Dhananjay Punekar
Global Market Insights Inc. 