Aerospace Nanotechnology Market: Technological Breakthroughs By 2025
Development of carbon nanotube composites in the manufacturing of airframes is likely to be one of the crucial driving factors impacting the growth of nanotechnology in aerospace over the forecast period. Increasing responsiveness toward global warming and climatic changes owing to the rise in greenhouse gases emissions is driving vendors to promote alternative ways to reduce the emission of carbon dioxide and save energy.
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Increasing investment on nanotechnology to adopt the use of lightweight materials that have multifunctional and high mechanical properties is expected to drive the aerospace nanotechnology market over the forecast period. Application of aerospace nanotechnology in maritime warfare is likely to gain traction for the growth of this market in the near future. Aerospace nanotechnology is likely to improve the competency of marine and submerged combat platforms by strengthening its defense sector that will allow for the development of nano sensors which will help todetect enemy submarines. Aerospace nanotechnology is an emerging trend that helps to manufacture energetic materials expected to influence the manufacturing processes of the defense aerospace industry.
On the basis of application, the aerospace nanotechnology market is segregated into space & defense, and commercial aviation. Space & defense held majority of the market share of the aerospace nanotechnology market in 2016 and is expected to retain its position during the forecast period. Nano and macro satellites are used for various kinds of applications such as wireless communication networks, global positioning systems, effectual disaster relief operations, and scientific observations. This in turn is likely to increase the adoption of nanotechnology to manufacture propulsion systems, nano-sensors, and multiwall carbon nanotubes. Increasing usage of nanotechnology for the development of radar penetrable structures to safeguard good stealth capacity of aircrafts is expected to facilitate the growth of this market segment.
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Geographically, the aerospace nanotechnology market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held majority of the market share in 2016 and is expected to retain its dominance over the forecast period. Factors such as engine manufacturers, increasing focus of OEMs and wireless communication networks is likely to boost the growth of aerospace nanotechnology in this region. Increase in use of miniaturized satellites is likely to increase the adoption of aerospace nanotechnology over the forecast period in this region.
The U.S. is likely to account for dominant market share of the aerospace nanotechnology market in North America at the end of the forecast period due to significant global presence of nanotechnology vendors. Asia Pacific is one of the most attractive markets in aerospace nanotechnology owing to the rapid development in space research. A considerable amount of investment has been made on the defense sector by developing countries of this region such as China and India. Europe is likely to hold a fair market share at the end of the forecast period owing to the deployment of nanotechnology for the improvement of its capability in marine and submerged combat platforms.
The aerospace nanotechnologies market is highly competitive with a large presence of local and regional vendors. Key players in the aerospace nanotechnology market are Airbus, Flight Shield, Glonatech, Lockheed Martin, Lufthansa Technik, tripleO Performance Solution, Zyvex Technologies, General Nano, HR TOUGHGUARD, CHOOSE NanoTech, and Metamaterial Technologies, among others.
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