The Aerospace Maintenance Chemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aerospace Maintenance Chemicals Global Market Report 2024, The aerospace maintenance chemicals market size has grown strongly in recent years. It will grow from $7.44 billion in 2023 to $7.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to growing air travel, safety and performance requirements, ageing aircraft fleet, maintenance and repair operations (mro), increased aviation standards..
The aerospace maintenance chemicals market size is expected to see strong growth in the next few years. It will grow to $10.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to optimization of maintenance costs, innovations in chemical formulations, safety and performance requirements, global aviation market growth, rise in aviation standards.. Major trends in the forecast period include technological integration, efforts for corrosion prevention, safety and performance requirements, innovations in chemical formulations, demand for fuel efficiency..
An increase in air passenger traffic is expected to propel the growth of the aerospace maintenance chemicals market going forward. Air passenger traffic refers to the volume of air passengers commuting, it comprises both domestic and international flight passengers. Aircraft maintenance is performed to keep the aircraft fully operational and safe for crew and passengers, as well as everyone in its servicing area, which would in turn favor the demand for aerospace maintenance chemicals. For instance, in July 2022, according to the data published by the Airport Council International (ACI), a Canada-based organization for airport authorities, in 2021, the world’s airports hosted 4.6 billion passengers, while aviation freight volumes grew 15.4% year on year, reaching a record 125 million metric tones. Therefore, the increase in air passenger traffic will drive the aerospace maintenance chemicals market.
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The aerospace maintenance chemicals market covered in this report is segmented –
1) By Nature: Organic, Inorganic
2) By Product: Cleaners, Deicing Fluids, Adhesives, Other Product
3) By Application: Commercial Aircraft, Single Engine Piston, Business Aircraft, Military Aircraft, Helicopters, Space
Product innovations are the key trends gaining popularity in the aerospace maintenance chemicals market. Green cleaning chemicals are produced from environmentally friendly ingredients and are safe for both humans and the environment. They are made of plant-based enzymes and do not contain any chemical compounds. Major companies operating in the aerospace maintenance chemicals market are focused on developing new innovative solutions to strengthen their market position. For instance, in June 2022, Socomore, a US-based aerospace industry introduced SOCOCLEAN AIRCRAFT CLEANERS. The unique feature is that they are 100% plant and mineral based. It offers cleaning products for the interior and exterior of aircraft. The cleaners are biodegradable within 28 days and do not generate toxic residues for the ecosystem. It has no negative impact on the environment and lowers the carbon footprint.
The aerospace maintenance chemicals market report table of contents includes:
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