The Market of Aircraft Pressure-Sensitive Tape to grow beyond US$ 354.7 billion by 2024
February 14, 2020
Aircraft Pressure-Sensitive Tape Market Overview:
The aircraft pressure-sensitive tape market will continue to witness promising growth over the next five years to reach an estimated value of US$ 354.7 million in 2024. Several factors are directly or indirectly bolstering the demand for pressure-sensitive tape in the aerospace industry in which the biggest growth driver is the organic growth of the aircraft industry coupled with an increased demand for high-performance pressure-sensitive tape.
Boeing anticipated that there would be total deliveries of 42,730 commercial and regional aircraft worth of US$ 6.3 trillion in the global marketplace during 2018-2037. Asia-Pacific and Europe would be the biggest demand generators with a combined share of 62.5% of the total aircraft deliveries during 2018-2037. An expected healthy CAGR of 4.7% in air passenger traffic during 2018-2037 will chiefly drive the demand for the aircraft. This factor will create a sustainable demand for pressure-sensitive tapes in the aircraft industry.
Report Overview:
This new report from Stratview Research analyses the Aircraft Pressure-Sensitive Tape Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Aircraft Pressure-Sensitive Tape Market Segment Insights:
Commercial aircraft: The growth engine
Based on the aircraft type, the aircraft pressure-sensitive tape market is segmented into commercial aircraft, military aircraft, regional aircraft, general aviation, helicopter, and others. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Today, the deliveries of commercial aircraft are at peak in life and have not witnessed a decline in the past seven years. Stratview estimates and OEMs’ announcements suggest that the production of aircraft will continue to increase as both Boeing and Airbus are enjoying a huge pile of order backlogs and have been increasing the production rates of their key programs (B767, B787, A320, and A350XWB). They are also developing fuel-efficient aircraft platforms (A320neo, B777x, and A330neo) to address the grave concern of airlines. Apart from these above-mentioned factors, market entry of COMAC and Irkut in the commercial aircraft segment further substantiates the growth potential of pressure-sensitive tapes in the commercial aircraft segment.
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https://www.stratviewresearch.com/toc/498/aircraft-pressure-sensitive-tape-market.html
Dominance of: Specialty Tape and Fiberglass
Based on the tape type, the aircraft pressure-sensitive tape market is segmented into specialty tape and masking tape. Specialty tape is estimated to remain the larger as well as the faster-growing tape type in the aircraft pressure-sensitive tape market over the next five years. Improved performance characteristics of tapes will continue to drive the specialty pressure-sensitive tape market in years to come. Specialty pressure-sensitive tapes are replacing traditional methods of fastening, which leads to saving time, money, and weight.
Based on the backing material type, the market for aircraft pressure-sensitive tape is segmented into fiberglass, PET, PP, and others. Fiberglass is estimated to remain the largest backing material type of the aircraft pressure-sensitive tape market in the coming five years, whereas PET is likely to be the fastest-growing backing material type over the same period. Fiberglass backing material offers good heat resistance, flame retardancy, and thermosetting properties, key properties assuring the dominance of fiberglass backing material in the aircraft pressure-sensitive tape market.
A highly/moderately/fragment consolidated Market
The key players in the pressure-sensitive tape market are The 3M Company; Berry Global, Inc.; Nitto Denko Corporation; Henkel AG & Company, KGaA; Intertape Polymer Group; Avery Dennison; H.B. Fuller; and Tesa SE. The development of high-performance pressure-sensitive tape and expansion in untapped and growing markets are the key strategies adopted by the major players to gain a competitive edge in the market.
The supply chain of this market comprises raw material suppliers, aircraft pressure-sensitive tape manufacturers, tier players, aircraft OEMs, airlines, and MRO companies.
Regional Hegemony of North America
In terms of regions, North America is expected to remain the largest market for aircraft pressure-sensitive tapes during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, pressure-sensitive tape suppliers, and airlines. All the major pressure-sensitive tape suppliers have their presence in the region to address the emergent needs of the OEMs in order to become the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.
Europe is likely to remain the second-largest market for aircraft pressure-sensitive tapes during the forecast period. Commercial aircraft is the growth engine of the European market for aerospace pressure-sensitive tapes, largely driven by the A320 and A350 XWB aircraft programs. Airbus has a massive plan to raise the production rate of its A320 family aircraft including neo variants, Airbus reported that the A320 program is on track to achieve a production rate of 60 aircraft per month by mid-2019.
Asia-Pacific is expected to experience the highest growth in the global market during the forecast period. The highest growth of Asia-Pacific is mainly attributable to the increasing aircraft fleet to support rising passenger traffic; opening of assembly plants of Boeing and Airbus for B737, A320, and A330 aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous commercial and regional aircraft (C919 and MRJ).
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