North America A&D ducting market to gain commendable proceeds over 2019-2025
Publisher : Fractovia | Published Date : 2019-12-20Request Sample
The global A&D ducting market share is registering an unprecedented growth in the recent years owing to the increasing prominence of efficient air management and cabin pressurization in aircrafts. Increasing need for maintaining adequate pressure and temperature in larger cabin areas have been significant factors in opening up new business opportunities for the companies partaking in development and installation of ducting systems in aircrafts.
Increasing demand for low-cost carriers from the developing countries is expanding the commercial aircraft segment of the worldwide A&D ducting industry. Deployment of advanced air carriers along the likes of Boeing 787 Dreamline and 777X and other mid-size wide body aircrafts for longer travel routes is accelerating market size. In this context, it would be prudent to take note of the fact that commercial aircraft segment is being recognized as one of the most profitable segments of this industry and is slated to register a commendable annual growth rate in the forecast years.
Rising aircraft production along with the dire requirement of replacing ageing airplanes has been pivotal in proliferating A&D ducting industry trends. Moreover, a few renowned industry players are establishing maintenance and repair stations to better support airlines across the globe in lowering costs by providing full-service repairs on all duct and tube products.
For instance, the Eaton Corporation recently announced that its joint venture with Shanghai Aircraft Manufacturing Co. (SAMC) has received approval from the Civil Aviation Administration of China (CAAC), the European Union Aviation Safety Agency (EASA), and the U.S. Federal Aviation Administration (FAA) to provide maintenance and repair services on ducting and tubes to the airlines in the Asia Pacific region. The convenience of accessibility to a local repair facility – the one like Eaton Corporation’s – would ensure that the airlines in the region can avail tailored solutions to their specific requirements. Needless to mention, the establishment of repair facilities would propel the remuneration scale of A&D ducting industry in the years ahead.
One of the major factors that is favoring A&D ducting market share is the humongous increase in the military expenditures of developed and emerging economies. According to the recently released estimates of the Stockholm International Peace Research Institute, the total global military expenditure jumped 2.6 percent to USD 1.8 trillion in the year 2018. The military expenditure of the U.S. grew for the first time in seven years, reaching USD 649 billion owing to the focus on new procurement programs in the Trump administration.
Apart from the new business opportunities opened up by rising military expenditure, A&D ducting industry outlook appears promising due to stringent guidelines by non-government and government regulatory authorities such as FAA and EASA for the maintenance of standards and airworthiness requirements of ventilation and heating systems.
In terms of geographical expansion, North America has emerged as one of the most profitable terrains for the major A&D ducting market players. The presence of marquee aircraft manufacturers such as Boeing and Lockheed Martin has been instrumental in strengthening the product demand in the North American nations. Moreover, the increasing number of aircraft deliveries by aircraft manufacturers is certainly enhancing the overall A&D ducting industry share.
Speaking of aircraft deliveries, Boeing set a new annual record of 806 deliveries last year despite straddled with a seven-year order backlog, registering an increase of more than five percent as compared with 2017. Additionally, the adoption of advanced manufacturing technologies has helped the aircraft manufacturers to continuously improving quality and productivity, essentially driving the demand for ducting systems in the aerospace and defense sector.
Driven by growing demand for low-cost carriers, dire requirement of replacing ageing airplanes, increasing military expenditure, and establishment of new maintenance and repair centers, the worldwide A&D ducting market share would expand at a decent pace in the years to come. As per a report by Global Market Insights, Inc., the remuneration portfolio of A&D ducting industry is forecast to exceed USD 7 billion by 2025.
