Aircraft Films Market to reach US$ 1.3 billion in 2024

Stratview Research announces the launch of a new research report on Aircraft Films Market by Aircraft Type (Commercial Aircraft, Military Aircraft, General Aviation, Regional Aircraft, and Helicopter), by Film Type (Decorative Film, Surfacing Film, Insulation Film, Adhesive Film, and Others), by Application Type (Interiors, Fuselage, Flight Control Surfaces, Wings, and Others), by Material Type (Epoxy Films, Polyvinyl Fluoride (PVF) Films, Poly Ether Etherketone (PEEK) Films, Polyimide (PI) Films, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft films market realities and future possibilities for the forecast period of 2019 to 2024.

The Aircraft Films Market: Highlights

Films are used in the aircraft industry to provide a wide array of functions including thermal and acoustic insulation, surface protection and smoothness, aesthetic appearance, and a barrier to moisture. Aircraft films can be installed on surfaces made of glass, metals, plastics, and composites. Different films in the aircraft industry are used at different locations; hence, they are made from a wide array of materials to meet the requisite performance. For instance; composite surfacing films are used primarily for aircraft exteriors, whereas decorative films are for aircraft interiors, and adhesive films are for metal, composite bonding, and honeycomb applications.

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The aircraft films market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 1.3 billion in 2024. The tremendous growth in the aircraft films market is primarily attributed to the substantial increase in the penetration of composites in structural applications of aircraft. Aircraft manufacturers are increasingly incorporating advanced composites in the crucial sections of their latest aircraft in order to address the airlines’ requirement of more fuel-efficient aircraft.

An organic growth of the aircraft industry propelled by increasing air passenger and freight traffic, increasing production rate of the best-selling aircraft, such as A320, increasing investments by OEMs for the development of lightweight and smart cabin interior solution, and rising aircraft fleet size are other noticeable factors, contributing to an increased demand for films in the aircraft industry.
Boeing anticipated that there would be total deliveries of 42,730 commercial and regional aircraft worth 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. These factors are likely to drive the use of films for aircraft interiors as well as exteriors in the foreseeable future.

In recent years, the market has witnessed gradual consolidation as major players are acquiring small players to enhance their product portfolio and expand their geographical reach. Some of the foremost mergers & acquisitions that took place in the market include the acquisition of Cytec Industries Inc. by Solvay SA and Toray’s acquisition of TenCate Advanced Composites (TCAC) division from Koninklijke TenCate BV.

The aircraft films market is segmented based on the aircraft type into commercial aircraft, military aircraft, general aviation, regional aircraft, and helicopter. Commercial aircraft is likely to remain the growth engine of the market during the forecast period. Increasing production rates of the key aircraft programs, such as B737, B787, A320, and A350XWB; introduction of variants of the best-selling aircraft programs (A320neo, B737 Max, B777x, and A330neo); market entry of new aircraft (C919 and MC-21); increasing demand for high-quality and lightweight parts in the aerospace industry; and rising aircraft fleet size; are the major factors driving the growth of films in the commercial aircraft segment.

Based on the film type, the aircraft films market is segmented into decorative films, surfacing films, insulation films, adhesive films, and others. Decorative films are expected to remain the largest segment of the aircraft films market over the next five years. Decorative films are mainly applied to the different interior components of an aircraft, such as interior panels, door linings, lavatories, cargo linings, galleys, closets, overhead stowage bins, bulkhead partitions, trolleys, and other personal service units (PSUs). These decorative films are visible to the passengers and are applied to those parts which are in direct contact with them. The decorative films are generally suitable for any surface of the aircraft cabins, which is not upholstered or carpeted.

Based on the application type, the aircraft films market is segmented into interiors, fuselage, flight control surfaces, wings, and others. The interiors segment is expected to dominate the market during the forecast period, owing to the widespread usage of decorative, protective, and adhesive films in aircraft interiors to deliver passenger safety, provide aesthetically pleasing interiors, protect against scratch and moisture, and hold interior panels intact. Other applications segment majorly includes radomes, engine bulkheads, engine bays, exhaust runs, and fuel system components.

In terms of region, North America is expected to remain the largest market for aircraft films during the forecast period. The USA is the growth engine of the region’s market with the presence of all the major aircraft OEMs, tier players, material suppliers, and aircraft film suppliers. In the region, all the major aircraft film suppliers have high proximity to major tier players and OEMs in order to become the partner for their upcoming programs as well as to cater the demand generated from OEMs as well as airlines.

Boeing, in its outlook, estimates that there would be the total deliveries of 8,800 commercial and regional aircraft in North America during 2018-2037, out of which, commercial aircraft would be 7,210 units and the remaining 1,590 would be of regional aircraft. Further, North America owns one of the largest commercial aircraft fleets in the world and is likely to expand at a healthy rate in the coming years. The commercial and regional aircraft fleet is estimated to reach an unprecedented landmark of 10,390 units in North America in 2037, from 7,210 aircraft in 2017, growing at a CAGR of 1.8% during 2017-2037. All these factors indicate healthy demand for aircraft films in the region during the forecast period

Asia-Pacific is anticipated to witness the highest growth during the forecast period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, opening of assembly plants of Boeing and Airbus in China, upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ), and rising aircraft fleet size.

The supply chain of this market comprises raw material suppliers, aircraft film manufacturers, distributors, tier players, aircraft OEMs, airlines, MRO companies, and aircraft leasing companies. The key aircraft film manufacturers are The 3M Company, Axiom Materials, Inc., The Boeing Company, Compagnie de Saint-Gobain S.A., DUNMORE Corporation, E. I. du Pont de Nemours and Company, Gurit Holding AG, Henkel AG & Co. KGaA, Hexcel Corporation, ISOVOLTA AG, Park Electrochemical Corporation, Schneller LLC, Solvay S.A., and Toray TCAC Holding B.V. The development of high-performance aircraft films, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies adopted by the major players to gain a competitive edge in the market.

The Aircraft Films Market is segmented into the following categories.
Aircraft Films Market by Aircraft Type:
• Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Films Market, By Film Type
• Decorative Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Surfacing Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Insulation Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Adhesive Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Films Market, By Application Type
• Interiors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Fuselage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Flight Control Surfaces (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Films Market, By Material Type
• Epoxy Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PVF Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• PEEK Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Polyimide Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Other Films (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Films Market, By Region
• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, The Middle East, and Others)

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