Aerospace Maintenance Chemicals Market: AEROCHEMICALS ,Aerospace Industry, Dow Chemical, Florida Chemical Supply, Krayden, Inc.
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Low air fare and enhancement in living standards in developing countries have led to growth in travel and tourism sector. This has further resulted in increased aircraft deliveries and high aircraft maintenance requirement, propelling the industry growth till 2024.
Various regulatory associations and authorities including European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) are continuously making amendments in the requirements of chemicals in maintenance procedures. The industry players are focusing on regular advancements to gain a competitive edge.
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Commercial aircrafts are projected to capture over 35% revenue share over the next eight years. High requirement of maintenance owing to stringent passenger security regulations will lead to extensive usage of these chemicals in these aircrafts, fueling the industry growth. Continuous growth in travel & tourism sector will further support the industry dominance over the forecast timeframe. OEMs are focusing on superior-grade products to cater to all the specifications and for faster operations.
The Dow Chemical Company, Shell, Arrow solutions, and 3M are among the prominent players in the industry. Other notable players include Wesco aircraft, Henkel, KLX Inc, and Eastman. Partnerships are witnessed among the prominent strategies implemented by the industry players to strengthen their foothold. For instance, in October 2017, Arrow Solutions announced the strengthening of its partnership with one of its key distributors in Norway to boost its visibility in the industry.
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