Growing demand for new passenger jets to drive the aerospace floor panels market, aluminium honeycomb sandwich panels to witness robust growth over 2018-2024
U.S. Aerospace Floor Panels Market, By Aircrafts, 2017 & 2024, (Units)
Speaking of efficient panels, a prominent design that has critically altered the aerospace floor panels industry is the honeycomb sandwich assembly, which has allowed the production of lighter and highly durable floor paneling. Applicable in a variety of segments such as railways, marine, construction and energy, the honeycomb sandwich design offers exceptional strength-to-weight ratio and panels can be modified according to the type of use. In terms of improving interior aesthetics of an aircraft, the surfaces of these panels can be customized depending on the face sheet material. With the use of high-quality honeycomb sandwich panels to ensure a strong floor base, the global aerospace floor panels market surpassed a revenue of USD 174 million in 2017. Aluminium honeycomb panels, in particular, are increasingly being utilized in aircraft production and demand for these panels is expected to rise steadily over the next few years.
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In terms of feasibility, Aluminium offers remarkable strength-to-weight properties to floor panel designers along with flexibility and considerably low processing cost, as compared to other robust materials like Titanium. Other notable features of Aluminium are corrosion resistance, easy to machine and cut as per required specifications and the ability to enhance the durability of structural components. Since the alloy is also described as being almost 90% recyclable, Aluminium honeycomb sandwich panels are expected to become immensely popular in the aerospace floor panels market. Major aircraft manufacturers are already treading in the direction of adopting aluminium honeycomb cores in flooring to reduce the structural weight and cost of production. Interesting predictions regarding growth of the aircraft segment has evidently spurred the development of the aerospace floor panels industry.
Recently, the American multinational airplane maker Boeing released a statement in which it mentioned that the aircraft industry has been witnessing a prolific growth trend over the past eight years. The company also revealed certain estimates, according to which the global demand for new passenger jets will reach approx. 42,730 by 2037. The total value of these new planes is projected to be around USD 6.3 trillion, indicating the massive earning potential of the aerospace floor panels market from new aircraft production. Boeing attributes the growing demand to the continuous economic growth worldwide and the rising consumer spending, especially by the working middle class population. Expansion of the tourism sector has additionally boosted air traffic in emerging economies, strengthening the aerospace floor panels industry stance.
Besides the passenger segment, use of cargo planes for transporting heavy commercial or military equipment and to undertake product delivery between multiple countries has grown tremendously due to progressive pricing trends. As a result, not only new cargo-carrying aircrafts are being made but old and new commercial jet builds are also being converted to freight planes, signifying a lucrative emerging avenue for the aerospace floor panels market. For instance, Dresden-based Elbe Flugzeugwerke (EFW), a joint venture between Airbus and Singapore Technologies (ST) Engineering’s Aerospace arm, is involved with converting passenger jet to freight aircrafts. In August 2018, EFW delivered an Airbus A330-200 Passenger-to-Freighter converted plane to EgyptAir Cargo, while reports indicate that EFW has further contracts in the pipeline to convert ten A321-200s for lessor Vallair.
As cargo freighters need to be light for traversing large distances with heavy loads, sturdy flooring and lighter frame is essential for guaranteeing safe transportation and better fuel-efficiency. With projects like EFW, production of floor panels suitable for commercial logistics will see tremendous increase and substantially bolster the aerospace floor panels industry. Anticipated to register a 4% CAGR from 2018 to 2024, the aerospace floor panels market is spearheaded by companies like EFW, The Gill Corp., Rockwell Collins, Zodiac Aerospace, Nordam Group, Euro Composites and Avcorp Corporation.
Author Name : Pankaj Singh
Europe automotive pedestrian protection system market to accrue appreciable share by 2024, prominent efforts by regional contenders to augment the product demand
Automotive pedestrian protection system market has emerged as one of the most lucrative business spheres of the automotive domain in the recent years. The increasing awareness among the regional governments and regulatory bodies regarding the importance of pedestrian safety has been stimulating the product demand. In 2016, more than 5,000 pedestrian fatalities occurred due to road accidents in the U.S. alone. In accordance, the Federal Highway Administration (FHWA) and National Highway Traffic Safety Administration (NHTSA) have taken initiatives to raise awareness among the masses about pedestrian safety, that are certain to augment the overall automotive pedestrian protection system industry size.
U.S. Automotive Pedestrian Protection System Market, By Product, 2017 & 2024 (USD Million)
European companies like Bosch and Continental have been continuously conducting research and development activities to invent advanced technologies related to pedestrian protection systems. In the recent years, the regulatory framework governing pedestrian protection systems has become stricter, on the grounds of which Bosch encompasses a cost-effective and safe electronic system in its portfolio, incorporated with an active impact protection system. Given that the current challenges related to sensor equipment have been encouraging industry giants to come up with highly advanced sensing systems, Continental has optimized interfaces and improved quality standards with the development of an acceleration satellite assisted scalable sensor system. Incidentally, this newly developed pedestrian protection system can be efficiently improved with the integration of pressure-based technology.
Speaking along the same lines, telecommunications group, Vodafone and Continental have recently declared their innovation-driving partnership on June 2018. Their main objective of this partnership is to enhance smart vehicle connectivity and road safety across Germany. As per research, the traffic accident rate across Germany has been increasing tremendously with more than 7000 accidents occurring on the roads of Germany every single day. In this regard, the duo plan to develop mobile assisted digital shields for pedestrians and a high traffic warning system. The development of mobile-assisted computing systems will provide cost-effective benefits, as it would not be necessary for automakers to integrate expensive chipsets in the vehicle.
The presence of strong technology companies and vehicle manufacturers across European countries has thus been aiding the growth of Europe automotive pedestrian protection system industry. Incidentally, Europe accounted for more than 45% of the overall automotive pedestrian protection system market share in 2017, and is anticipated to dominate the industry over 2018-2024.
Currently, many automobile manufacturers have been focusing on developing intelligent, clean, safe, and convenient mobility solutions rather going in for high speed and more horsepower technologies. The shifting focus of the automakers toward the development of highly advanced safety features is likely to impel automotive pedestrian protection system industry share. Validating the aforementioned fact, the leading Indian car manufacturer, Maruti Suzuki has invested quite some capital to build an in-house pedestrian safety and crash testing facility near Delhi in compliance with stringent traffic safety and crash regulations. Considering that bad road conditions and the absence of high technology facilities in most of the vehicles lead to road accidents in India, prominent automakers have been working to develop advanced safety systems, propelling the regional automotive pedestrian protection system market trends.
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Taking into account the surging need for vehicle safety for reducing fatalities, the Indian government is also looking forward to implementing strict rules and regulations. Under the Bharat New Vehicle Safety Assessment Program, the government is planning to mandate the deployment of pedestrian protection safety facilities in the vehicles in the coming years. In addition, the government has given few more years to automakers to equip all their existing vehicle models with this facility. The regulatory initiatives taken by the Indian government will generate commendable business opportunities for the giants in automotive pedestrian protection system market over the ensuing years.
In line with the vehicle safety regulatory policies, automakers have now been manufacturing new vehicle models equipped with pedestrian protection systems. The increasing use of such safety features in newly developed vehicles is poised to propel the product demand over the years ahead. The deployment of strict regulatory standards for enhancing pedestrians’ safety also will help augment the revenue scale of automotive pedestrian protection system industry. For the record, by the end of 2024, overall automotive pedestrian protection system market will surpass a valuation of USD 3 billion.
Author Name : Satarupa De
Body worn insect repellent market to surpass the billion-dollar benchmark by 2024, U.S. to prominently drive the regional landscape
Over the last few years, body worn insect repellent market has emerged as a lucrative yet challenging investment avenue, against the backdrop where bug-borne diseases has turned out to be a global concern. According to the World Health Organization, Malaria is prevalent across 91 countries worldwide, placing around 40% of the global population at risk. Reports indicate that nearly 500 million populace suffers from Malaria every year, leading to almost 2.7 million casualties annually. It is important to mention that of all the disease transmitting insects, mosquito is claimed to be one of the greatest menaces, spreading catastrophic Malaria, Dengue, Yellow Fever, etc. In fact, Dengue is deemed to be world’s calamitous mosquito borne virus disease, with nearly 2500 million people at risk of infection globally. These statistics depict the increasing pressure on body worn insect repellent market players to come up with state- of-the-art solutions that would somewhat mitigate this afflictive situation.
U.S Body Worn Insect Repellent Oils & Creams Market, 2017 & 2024 (Kilo Tons)
North America is a prominent regional share contender having held almost 30% of the global share in 2017, courtesy – the widespread American and Canadian populace vulnerable to flea borne diseases. According to a latest survey by Centers for Disease Control and Prevention, tick and mosquito borne diseases in U.S. had almost tripled over the period of 2004-2016. For the records, in the year 2004, the country witnessed 27,388 cases of vector borne diseases, while in 2016, the figure reportedly got upscaled to 96,075 cases. The astoundingly mammoth prevalence has undeniably generated a massive demand for advanced insect repellents, substantially impelling the U.S. body worn insect repellent market size.
Regional government has a big role to play in proliferating the industry trends. The U.S. Environmental Protection Agency, for instance, has taken significant initiatives to promote DEET utilization in manufacturing of bug repellent products, especially for those that are sold locally. This in consequence, has created an increased awareness among the Americans regarding insect borne diseases and also about the specific preventive measures that need to be taken to combat the issue. Considering these aforementioned aspects, it would not be incorrect to state that U.S. would continue its dominance in North America body worn insect repellent industry, given that the country boasts of an extensive product array as of now due to the presence of large distribution channel.
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Spreading vector borne diseases such as Dengue, West Nile, Chikungunya, and Malaria ironically are the prime factors fueling body worn insect repellent market demand. A host of new body worn mosquito control repellants has been widely discussed, tested and put forth in the market over the recent years, however, whether these repellents prove to be fruitful in long term is yet to be determined. The extensive research activities that body worn insect repellent industry is presently characterized by mainly focusses on utilizing more of Lemon Eucalyptus and DEET in various bug repellents products. These days, sprays have become a universal choice among consumers, subject to its ease of application on skin as well as in apparels. Companies have been highly focusing on extending their product landscape along with distribution channel expansion, which in essence is impacting the overall body worn insect repellant industry share.
Grounding on numerous experimental studies, experts have apparently come down to a conclusion that repellent technology represent a fundamental aspect in mosquito borne disease transmission prohibition, which is why body worn insect repellent market is gaining a substantial traction in terms of revenue streams. However, some unhealthy instances such as breathing trouble, skin irritation, and unpleasant odor on its application, somehow act as a stumbling block in the industry growth. Nonetheless, driven by the continuous developments on product front in tandem with a highly supportive regulatory framework, body worn insect repellent industry is set to record a revenue of USD 1 billion by 2024.
Author Name : Satarupa De
Aerospace & defense fluid conveyance systems market to amass hefty returns via aftermarket sales, global industry share to exceed USD 22 billion by 2024
The rising deployment of fleet services for transportation & military operations has been driving aerospace & defense fluid conveyance systems market considerably since the last few years. With increasing disposable incomes and subsequently changing lifestyles, air transportation has lately gained substantial momentum, fueling the need for commercial aircraft. In addition, in order to eliminate terrorist activities, which have been increasing rapidly since the last few decades, many countries have been deploying unmanned aerial vehicles and high-speed jets. Aided by changing military strategies and heavy investments in the defense sector, aerospace & defense fluid conveyance systems industry size is anticipated to witness a massive upsurge over 2018-2024.
U.S. Aerospace & Defense Fluid Conveyance Systems Market, By Fluid, 2017 & 2024, (USD Million)
Taking into account the primary need of fluid conveyance systems in aircraft production, leading aircraft manufacturers have been establishing partnerships with fuel system manufacturers. An instance of the aforementioned is GKN Aerospace’s contract signed with General Atomics Aeronautical Systems Inc., in 2017, for developing, designing, and manufacturing fuel conveyance systems. GKN Aerospace, through this development agreement, apparently looked forward to developing fuel systems for UAV (unmanned aerial vehicle) applications. The firm planned to manufacture fuel bladders through a vacuum forming process in conjunction with the latest polyurethane (PU) material that is durable and lightweight. Given that UAVs are prominently used in the defense sector for performing various surveillance and other military tasks, GKN is likely to strengthen its stance in aerospace & defense fluid conveyance systems market through this deal, in addition to encouraging its fellow adversaries to increase their investments in the development of military UAVs.
The surging deployment of aircraft for defense as well as commercial purposes has been creating lucrative opportunities not only for original equipment manufacturers but also for aftermarket product developers. In fact, in order to rake in maximum capital, aircraft companies are signing long-term deals with aftermarket product suppliers. The collaboration of airline companies with aftermarket product distributors is proving rather beneficial for this vertical, in terms of reduced maintenance cost and improved fleet reliability.
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Citing a recent instance justifying the aforementioned statement, in 2016, Emirates signed a 10-year aftermarket agreement with Unison Industries to upgrade the GE90 and GP7200 engine fleets. Emirates back then, could leverage Unison’s expertise in the areas of upgrades, exchange programs, and repairs with mutual goals of the highest quality support. The deal testified that requirement of the aftermarket is vitally important for maintaining fleet services. Indeed, as per estimates, aerospace & defense fluid conveyance systems market size from the aftermarket distribution channel is slated to register a CAGR of 3.5% over 2018-2024.
Elaborating further on the growth strategy scenario in aerospace & defense fluid conveyance systems market, it is noteworthy to mention in 2015, Parker Aerospace signed a long-term deal with Emirates to provide a maintenance package to its Airbus A330/A340 and Boeing 777 engines and aircraft. As per the agreement, Parker will establish its repair facilities and network outstations across the globe to support Emirates, which will emerge to be advantageous for regional companies and local support teams to generate a sufficient inventory pool for fleet maintenance. This in consequence would have a remunerative impact on the overall aerospace & defense fluid conveyance systems industry outlook over the years ahead.
The mutual cooperation between aircraft companies and product suppliers is likely to be one of the major driving forces of aerospace & defense fluid conveyance systems industry. The surging deployment of UAVs for performing military operations will also have a remarkable impact on product demand over the years ahead. Driven by the escalating demand for fleet components and the robust competitive hierarchy, aerospace & defense fluid conveyance systems market share will increase at a CAGR of 3% over 2018-2024.
Author Name : Sunil Hebbalkar
Electrical steering column lock market revenue to be driven by the adoption of EPS in automobiles, global industry to surpass 180 million units by 2024
Electrical steering column lock market has been witnessing a profitable growth rate since the last few years, pertaining to the growing popularity of the electric power steering (EPS). The EPS technology is lately being preferred in automobiles for its ease of use and the fuel efficiency. Also, there has been a paradigm shift in the deployment of automotive components from mechanical to electronic solutions, which has led to electrical steering column lock (ESCL) market carving out a positive growth trajectory. By 2024 ESCL market size is predicted to surpass a valuation of USD 31 billion, driven by innovations in the automotive sector and the existence of a favorable regulatory landscape that mandates the adoption of EPS in new automobiles. As electrical steering column locks make vehicles much more resistant to thefts, there has been an increase in consumer demand for purchasing cars embedded with these products, thereby augmenting ESCL industry share.
U.S. Electrical Steering Column Lock Market, By Vehicle, 2016 & 2024, (USD Million)
With the emergence of new economies and the rising affordability of vehicles, global automobile manufacturing and sales are expected to soar higher in the years to come. This in consequence, would lead to a robust rise in the sales of automobile integrated with security features, which in turn would impel ESCL market. With security being one of the consumers’ principal concerns, cars incorporated with anti-theft features will make them highly viable choice, which will boost the overall electrical steering column lock market size.
A shift of conveyance preference has also been noted with the rise of connectivity and online shopping alternatives. Many consumers nowadays prefer to have goods and services delivered at home – a trend that has provided an impetus to the commercial vehicle industry. In order to make these vehicles more fuel-efficient, the deployment of electric power steering has been made mandatory, which inevitably indicates the implementation of electrical steering column locks in these vehicles to ensure security. In consequence, the commercial vehicle sector would prove to be a lucrative avenue for ESCL market. As per estimates, LCV-based ESCL industry size alone is expected to register a CAGR of 6% over 2017-2024. Significant growth will also be registered in the special utility vehicle segment as customers are leaning towards tailored solutions for specific purposes. Electrical steering column lock market share, as per statistics, is estimated to record a 4.5% CAGR over the next seven years from the special utility vehicle sector.
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Original equipment manufacturers (OEMs) and traditional automotive players, in recent times, are under continuous pressure to bring about advanced technologies in vehicles that will improve fuel efficiency, reduce emissions and be more capital-efficient. OEMs stand to gain the most advantage with the growth of electrical steering column lock industry, as customers prefer relying on OEMs for their process expertise and reliability. On the other hand, aging vehicles will impact electrical steering column lock market size from the aftermarket domain, as these vehicles are the ones that did not have an installed lock at the time of manufacture, but would now be forced to have one installed or security purposes.
Due to the robust progress of the automotive sector in countries such as China, India and Indonesia, APAC electrical steering column lock market is expected to witness a substantial growth rate over 2017-2024. China alone, in 2016, accounted for 48% of the global SUV shares. In fact, estimates claim Asia Pacific to dominate the overall electrical steering column lock industry by 2024, with a revenue projection of USD 13 billion.
Government directives for better vehicle security has been the driving force for the growth of North America electrical steering column lock market. The National Highway Traffic Safety Administration (NHTSA), for instance, a traffic regulatory body of U.S. has mandated the use of electrical steering column locks in all vehicles. Uniform provision for performance and layout of all vehicle systems as authorized by the European directives will also ensure the implementation of these security products in all vehicles, giving Europe electrical steering column lock market a commendable boost over 2017-2024.
One of the key threats that electrical steering column lock industry will face in the ensuing years is the introduction of fully autonomous vehicles which come essentially without a steering wheel, a fact that will make the electrical steering column locks redundant. However, security risks, lack of consumer understanding and slow rate of market penetration of autonomous vehicles will not make them commercially viable before 2030, which would prove to be an advantage for ESCL industry. For now, OEMs and other major ESCL market players are focusing on making the electrical steering column lock systems in vehicles much better, ensuring not only security but also attracting a wider customer base with better and innovative safety technologies.
Author Name : Paroma Bhattacharya