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
Asia water taxi market to gain momentum over 2018-2024, government initiatives toward tourism and trading activities to drive the industry growth
The increasing requirement for quick, emission-free transport has been a major driver for water taxi market growth. Water transportation has been gaining more and more popularity lately, pertaining to its cost-effective and fuel-efficient benefits over conventional transportation. Having recognized the same, regional governments have been majorly investing in the tourism industry, generating lucrative opportunities for water taxi industry players. The deployment of water taxis in numerous public and private water bodies has indeed helped reduce vehicular traffic congestion in the city – a principal factor that has been extensively responsible for stimulating water taxi industry share.
U.S. Water Taxi Market, By Product, 2017 & 2024, (Units)
Recreational activities such as boating have taken on a diverse significance in recent times, on account of which numerous private companies are deploying water buses on large scale. This in consequence, has prompted the entry of new contenders in water taxi market and a slew of unique product launches. Say for example, the French startup SEABUBBLES has been testing its new electric hydrofoil water taxi – a battery powered water bus that reduces air drag and attains greater speed, in Switzerland for quite a while now. The company now looks forward to deploying electric boats for transportation in lakes and rivers across European countries. As this type of transit system generates lesser air as well as water pollution, the governments of the various countries are encouraging private and public service providers to deploy battery-operated and hybrid water taxis. These initiatives are likely to push hybrid water taxi market size, slated to grow at a CAGR of more than 5% over 2018-2024.
The increasing deployment of these water vehicles has generated profitable growth opportunities for water taxi industry firms. In order to achieve a dominant position across this vertical, most of the prominent biggies are focusing on the development of green boating systems that are driven by renewable energy. Though this transit system is clean and emission-free, in some cases, the speed factor of some of the green taxis have put a dampener on the overall product demand. In order to combat the same, companies have been constantly working enhancing product features and its capability. The recent trend of deploying lightweight and high-performance composite materials for boat manufacturing, for instance, has helped water taxi market firms develop innovative taxi designs. 3A Composites for example, post ten years of rigorous efforts, recently launched a sustainable water taxi that integrates the benefits provided by 3A Composites’ AIREX® T92 PET foam with a special hull shape that aids waste reduction, ride quality, and fuel efficiency.
The Asian zone is expected to contribute commendably toward the growth of water taxi market, owing to the increasing involvement of private and public sectors in the deployment of water taxi services. For the record, merely a few months earlier, the Indian ride-hailing service provider OLA signed a MoU with the government of Assam to launch a water taxi service in the state. This project is most likely to strengthen the transportation network across North India. In addition, the mobile-based transportation system will help local government enhance the state’s tourism prospects.
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In 2016, the government of India signed a deal with the Massachusetts Institute of Technology for developing ferry services across six major cities including Varanasi, Allahabad, Kolkata, Mumbai, Patna, and Haldia. The development of inland waterways services will thus help escalate cost-effective trading across the country. As of now, India uses only 3.5% of the available waterways for trading purposes, out of the existing 14,500 km of the waterway stretch. The increasing investments by the Indian government toward the deployment of ferry services across the country is poised to boost the regional water taxi market share, in turn benefiting the overall Asian topography to a marginal extent.
The competitive hierarchy of water taxi market is remnant of novel product development strategies and massive R&D programs. The emergence of battery operated lightweight boats for instance, has added a new growth dimension to water taxi industry. Another pivotal factor pushing the expansion of this vertical is the crucial role that governments play in promoting trading and tourism activities, focusing on bettering the economy of their respective countries. Aided by a favorable regulatory spectrum and the rising prominence of the green movement, water taxi market size is expected to cross the coveted USD 500 billion mark by the end of 2024.
Author Name : Sunil Hebbalkar
Non-passenger-based inland waterways vessels market to garner substantial returns over 2017-2024, environmental concerns to bring about sustainable product development in the industry
The revenue graph of inland waterways vessels market has witnessed considerable escalation in the recent years, subject to reliability and energy efficiency provided in this mode of transportation. Indeed, both passenger and non-passenger vessels have found increasing relevance in inland waterways lately. Observing the environmental advantages of adopting superior inland waterways transportation, regional governments have taken efforts to make major investments in developing inland waterways.
U.S. Inland Waterways Vessels Market, By Fuel, 2016 & 2024, (Units)
A recent instance validating the authenticity of the aforementioned statement is the Jal Marg Vikas Project undertaken by the Indian government that may be a potential game changer for transportation through the Ganges. The $809 million project is being designed to be economically and environmentally potent and may effectively enhance trade and commerce through the Gangetic route. The rejuvenation of the Ganges may emerge as one of many driving forces inevitably stimulating the regional inland waterways vessels market share.
It is rather overt that the development and maintenance of internal water inlets are imperative for the growth of inland waterways vessels industry. The St Lawrence Seaway in Canada is an example of a successful waterway which has added a commendable boost to the regional inland waterways vessels market for the last 60 years and has proved to be quite a competitive means of moving cargo like iron ore, coal, stone, cement and salt. Indeed, St. Lawrence Seaway seems to have trumped surveys when it comes to competitive options for tonnage movement, as reported by logistic professionals who study movement routes to be adopted for the most profitable means of transportation. Thus, more vessels came to be deployed to operate on this route – close to 2,270 vessels alone had been used in 2017.
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It will be prudent to mention that cargo movement makes up for a bulk of inland waterways transportation requirement. On these grounds, non-passenger inland waterways vessels market is expected to attain the dominant position in this industry. As per estimates, non-passenger vessels are forecast to account for a mammoth 80% of the inland waterways vessels industry share by 2024.
Similar to non-passenger vessels, passenger inland waterways vessels market has also gained commendable traction on account of the increasing popularity of river cruises, ferries and yachts. With the expanding tourism industry, river cruises have witnessed a great surge in demand over the last couple of decades. In Europe in fact, river cruises on rivers such as Danube, Main and Rhine have been conducted with great success with luxury long boats like the Viking River Cruise. The adoption of similar boats has been rapidly occurring in the U.S. where tourism interest in rivers like Mississippi and Ohio, has added a significant boost to the regional inland waterways vessels industry. It is thereby rather undeniable that the rise in water-based tourism will augment passenger inland waterways vessels market size, slated to register a CAGR of 3% over 2017-2024.
Regulatory authorities have been trying to promote inland waterways transport on a large scale, as using waterways to transport cargo has certain environmental advantages such as reduction of pressure on highways and railways, lower noise pollution, less land-based congestion and reduced emission. Additionally, water-based transportation also has minimal effect on human livelihood and ecological diversity.
Since most of the inland waterways vessels naturally use diesel as fuel, diesel oil has been forecast to account for 90% of inland waterways vessels market share by 2024. However, since diesel is not quite the most ecofriendly fuel, companies have been developing vessels that would be run by electricity and will be virtually free of any kind of emission. In fact, such barges have already been designed and are being released to operate from Amsterdam, Rotterdam and Antwerp, for moving goods in the inland waterways of Netherlands and Belgium. In 2018 alone, five such barges, which can accommodate up to twenty-four 20 ft containers, are being released and if they succeed in their operation, they will be potentially taking 23,000 trucks off the roads.
The rising preference for energy efficient and technologically advanced solutions for the transportation of goods is certain to add stimulus to inland waterways vessels market. Another factor augmenting the commercialization scale of this vertical is the expanding tourism industry that is becoming more and more ecologically tolerant by the day. With a base valuation of $1,500 billion in 2016, inland waterways vessels market size is projected to be pegged at $2,250 billion by 2024 driven by a plethora of trading activities, favorable government support, and the growing demand for congestion-free transportation.
Author Name : Paroma Bhattacharya
Europe inland waterways vessel market to be driven by environmentally viable product innovations, industry share to surpass USD 115 billion by 2024
The commercialization matrix of Europe inland waterways vessel market has upscaled tremendously over the past few years, in sync with the increasing propagation of energy exploitation and efficiency across the continent. While inland waterway transport on European corridors has always been a viable alternative to rail and road mode, the business space has gained an appreciable popularity in recent years in consequence to the sustainability march led by the regional government. In fact, the European Commission has been striving hard to improvise the legislations, with an aim to integrate inland waterway transport more profoundly in the intermodal logistics chain. In this regard, the Netherland Presidency, in the year before last, has signed an informal agreement with the European Parliament, dealing with the revision of regulatory standards regarding the technical requirements of inland waterway vessels operating in the region. Needless to mention, these kind of regulatory improvisations and standardizations speak volume and has remarkably contributed toward Europe inland waterways vessel market trends. Validating the efficacy of the aforementioned declaration, Global Market Insights Inc., claims that the overall business space has crossed USD 55 billion frontier in 2016.
France Inland Waterways Vessel Market, By Vessel, 2016 & 2024, (USD Million)
While elaborating further of the commercialization potential of Europe inland waterways vessel industry, it is prudent to mention some of the latest initiatives undertaken by the regional players to quicken the pace of the proliferations of the business space.
- Making a headway in Europe inland waterways vessel industry, the Swedish Orient Line, apparently, is investigating new ways of utilizing Europe’s inland transport, with the introduction of an environmentally viable container shuttle between Kristinehamn and Gothenburg. Reportedly, it is the first inland waterway based solution for Sweden transport and logistics market.
- Citing another distinctive instance, Port-Liner, one of the formidable players in Europe inland waterways vessel market, is on its way to introduce world’s first fully electric emission free barges in Europe inland waterway, challenging the existing road and rail transport solutions in the continent. Sources claim- the battery powered ships would have the capacity to encompass 280 containers, with an expectation to remove almost 23,000 trucks from roads annually. Reportedly, Amsterdam, Rotterdam, and Antwerp ports would be hosting the new vessels.
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Statistics depict- total volume of good transported via inland waterways in Europe was approximately 554 million tonnes in 2016, allegedly, an increment of almost 0.9% than what was recorded in 2015. Experts deemed this to be positive indicator for Europe inland waterways vessel market growth especially from non-passenger vessels. In fact, non-passenger vessel accounted for almost 60% of the overall Europe inland waterways vessel industry share in 2016. Primarily on account of its competitive advantage over others with regards to energy efficiency and consumption, experts believe, non-passenger inland waterways vessel market in Europe to witness immense growth over 2017-2024.
Speaking of the competitive spectrum, Europe inland waterways vessel market space is ablaze with renowned biggies including the likes of Mediterranean Shipping Company S A, European Cruise Service, Viking Line, KG, Bayliner, and Meyer Werft GmbH & Co. These giants, in accordance with the regionally changing sustainability trends have been working relentlessly to come up with innovative energy efficient, environment friendly range of products. In tandem, the currently harmonized regulatory framework (Directive 2006/87) regarding the technical certifications of inland vessels would further stimulate Europe inland waterways vessel market, slated to exceed USD 115 billion by 2024.
Author Name : Satarupa De