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Aerospace Fillers Composite Market Industry Growth and Regional Analysis 2019-2025 - Major player- Honeywell, Northrop Grumman, Safran, Rockwell Collins
Aerospace & Defence
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North America holds significant share in the aerospace fillers composite market owing to existence of key aircraft manufacturers focusing on developing innovative and efficient aircrafts. Rising military expenditures along with adaption of light weight aircrafts for crucial operations will enhance industry size. In 2018, the U.S. government allocated over USD 2.5 billion for lightweight military jets.
Asia Pacific is anticipated to witness substantial growth over the forecasted timeframe with increasing aircraft requirements. Proliferating tourism industry coupled with rising disposable income will propel aircraft demand, thereby driving the industry growth. Further, increasing MRO activities for part replacements and periodic maintenance will positively influence regional penetration.
Growing demand for high performance and versatile fillers to cover surface imperfections and impart smooth surface for aircraft components will boost aerospace fillers composite market share. Additionally, improved gloss holdout, film shrinkage resistance along with increased flexibility and easy sanding properties will drive the product demand.
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Based on aircraft, the aerospace fillers composite market place is segmented into commercial aircraft, regional jet, business jet, military aircraft and helicopter. Rising demand for military aircrafts along with increasing defense spending across the globe will positively influence the market expansion by 2025. The requirement for light weight, superior quality and high precision parts for supporting advanced flight operations will augment the segment growth.
Advancements in surface technology for developing durable and smooth surface on composite and fiberglass substrates will provide positive outlook for the aerospace filler composite market growth. In May 2018, 3M developed low density composite fillers for components. The product enables 30% weight reduction as compared to conventional materials such as aluminum and magnesium.
Government bodies including the Federal Aviation Administration (FAA) and European Aviation Safety Agency (EASA) govern the application of fillers in composite material components. For instance, in October 2018, EASA launched regulation for surface fillers, paint materials and openings. Further, FAA regulation Title 14, Code of Federal Regulations (14 CFR) part 21 regulates the material and process specification for implementation and maintenance of composite components.
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Aerospace fillers composite market is consolidated with major participants including 3M, The Sherwin-Williams Company, HSH Aerospace Finishes, PPG Industries Inc, Azo Materials, Solvay, and Akzo Nobel. Industry players are involved in mutual partnership and new product launches for strengthening their foothold.
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