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Aerospace Surface Materials & Technical Fabrics Market Segmented By aircraft type that is Wide Body Aircraft, Narrow Body Aircraft, Large Body Aircraft, also by fit type that is First Fit, Refurbishing and by composites that is Aramid Fibers, Carbon Fibers, Glass Fibers used in General Aviation, Defense Aviation.
Aerospace surface materials and technical fabrics are lightweight, durable, flame & corrosion resistant materials help to address the stringent safety standards and fuel efficiency requirements of aerospace. In the coming period of time moderate growth is foreseen in aerospace surface materials & technical fabrics market owing to increasing number of fleet in use and inbound and outbound travel activities across the globe.
Airlines usually upgrade or refinish aircraft interiors on average of four to seven years, and aerospace technical fabrics offer efficient options in regards to achieve the same. Aerospace OEMs are constantly exploring and developing technological advancements that will help in increasing efficiency and productivity of airline industry.
For this reason, aerospace is one of the predominant industries to adopt the use of composites in its designs. Worldwide air-travel has grown at a brisk pace in the recent period. Reasonable air fares, improving standard of living coupled with a growing middle class in emerging economies are all aiding to demand for air travel and consequently enhance the utilization of aerospace surface materials and technical fabrics.
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Stable GDP growth provides firm platform for growth in air transport, though, it is not the only factor that drives air traffic growth. Some of the factors that impact the usage of aerospace surface materials and technical fabrics market include increasing air-transport MRO activities, improving infrastructure for air transport, increasing urbanization, increasing pace of industrialization, and development of travel and tourism sector.
Airport expansion and new airport construction in emerging countries, predictably demand new airplanes, which in turn leads to an added growth of aerospace surface materials and technical fabrics market. Moreover, the growth in aerospace surface materials & technical fibers market is largely driven by an increase of seats in the passenger aircrafts owing to high demand on existing routes across the main cities.
Prominent industry liberalization such as development of low cost carriers and Open Skies agreement are being made, which in turn expected to stimulate growth in the commercial airline industry. The expectation is that this trend will continue owing to low prices for air travel. Government regulations and lack of infrastructure in some countries of Middle East and less developed region undermine the growth of aerospace surface material & technical fabrics market.
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After a decade of challenges and despite some political uncertainties such as Brexit, European consumer and business confidence are recovering. The propensity to fly among European people is quite high as compared to other parts of the world. Positively, forecasts suggest that the European population will continue to grow in terms of wealth, consequently, increase the passenger traffic growth.
With the deployment of new aircrafts and refurbishing the existing fleet aerospace surface materials and technical fibers market is foreseen to observe substantial growth. Furthermore, North America has always been at the forefront of positive developments and innovation in the aerospace industry.
The airlines in the region have also embarked on significant fleet renewal and likely to continue in the coming years which in turn reinforce the growth of aerospace surface materials & technical fabrics market. Intra-regional growth and geographical position have put the region at the crossroads of trade and transportation between east and west.
Despite the economic difficulties faced in Latin America, total traffic has grown considerably that has raised the demand for new aircraft fleet. Subsequently, the global outlook for aerospace surface materials & technical fabrics looks healthy in the foreseeable future.
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Example of some of the market participants in the global aerospace surface materials & technical fabrics market discerned across the value chain include
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