Increase in Recreational Activities to Drive Global Ultra-light Aircraft Market

Global Ultra-light Aircraft Market – Introduction

Ultra-light aircraft are lightweight aircraft with the capacity to carry one or two individuals, which weigh around 200-750 kilograms
Ultra-light aircraft are used in travelling short-range distance and at low altitudes. They are largely used for sports and recreational activities.
Increase in Recreational Activities to Drive Global Ultra-light Aircraft Market

Increasing interest of people in sports and recreational activities promotes growth of the global ultra-light aircraft market
Owing to the low weight and reduced seating capacity of ultra-light aircraft, the cost of a basic ultra-light aircraft is much lower than that of a normal aircraft. This, in turn, fuels the demand for ultra-light aircraft for use in sports and other recreational activities.

Increasing Use in Defense Sector to Drive Global Ultra-light Aircraft Market

Security of a country is one of the most important concerns for the military & defense sector in the country. In the military & defense sector, ultra-light aircraft are used for surveillance and monitoring of border areas.
In hilly areas, where vehicles are unable to monitor borders and enemy activities, ultra-light aircraft are much useful
Moreover, rise in investments by governments and increasing budget for the military & defense sector drives the global ultra-light aircraft market
North America to Lead Global Ultra-light Aircraft Market

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In terms of region, the global ultra-light aircraft market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
North America is anticipated to hold a significant share of the global ultra-light aircraft market during the forecast period. It is estimated to be followed by Europe in the near future. Dominance of North America is attributable to high demand for ultralight aircraft and risen spending of people in the region on recreational activities.
The ultra-light aircraft market in Asia Pacific is projected to expand at a rapid pace, led by increase in commercial applications of ultra-light aircraft. The market in Middle East & Africa and South America is expected to expand at a moderate pace in the near future. Middle East & Africa and South America offer high potential for growth of the ultra-light aircraft market.

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Fluid End Assembly Market: Introduction

The global fluid end assembly market was valued at ~US$ 9.8 Bn in 2018 and is anticipated to expand at a CAGR of ~4% during the forecast period. Based on type, the triplex fluid end segment held a dominant share of the fluid end assembly market in 2018, primarily due to its high quality and low price. In terms of material, the stainless steel segment accounted for a major share of the fluid end assembly market in 2018. Demand for stainless steel fluid end assembly is high due to its excellent quality and long life. Based on application, the onshore segment constituted a significant share of the fluid end assembly market in 2018, owing to the presence of a large number of wells and lower cost of investment compared to offshore wells. The fluid end assembly market in North America is likely to expand at a substantial pace during the forecast period, owing to significant investments in exploration and production activities in the oil & gas industry in the region

Key Drivers of Fluid End Assembly Market

Of late, several oil and gas discoveries have been made across the globe. Furthermore, shale discoveries are rising at a promising rate. For instance, Russia discovered nearly 1.5 billion barrels of oil equivalent (Bboe), with new discoveries on the peninsula shelf in the Kara Sea. In Guyana, ExxonMobil made 14 discoveries during the first quarter of 2019, while Tullow Oil PLC also announced two new discoveries. These discoveries of new oil and gas reserves provide lucrative opportunities to oil and gas service companies, which use fluid end assembly for drilling. In November 2019, Tullow Oil PLC and its licensed partner Orinduick announced that they had started assessing commercial viability of two offshore Guyana discoveries after lab results indicated that the oil recovered was heavy crude oil with high sulfur content. Thus, discovery of new oil and gas reserves across the world is fueling the expansion of the fluid end assembly market.

North America to Lead Fluid End Assembly Market

North America dominated the fluid end assembly market in 2018, owing to the development of oil and gas wells in the region. Demand for fluid end assembly is expected to be high in the region during the forecast period. The fluid end assembly market in North America is estimated to expand considerably during the forecast period, led by the significant development of infrastructure related to oil and gas discoveries in the region. The U.S. accounted for the leading share of the fluid end assembly market in North America in 2018. This can be primarily ascribed to the increase in number of drilling rigs in the country. According to World Oil, the total rig count in the U.S. stood at 24,186 in 2017 and rose to 27,095 in 2018. Oil & gas players are likely to drill more wells in the country considering the upward trend of oil prices. This is estimated to drive the fluid end assembly market in the U.S. during the forecast period. The fluid end assembly market in Canada is projected to expand at a moderate pace, owing to new discoveries of unconventional oil and gas reserves in the country.

Major Developments in Fluid End Assembly Market

In August 2019, Halliburton Company bagged nine conditional contracts for drilling and completion services for Sangomar field development in Senegal from Woodside Energy (Senegal). Moreover, in July 2019, Halliburton and Kuwait Oil Company (KOC) announced that they had signed an Integrated Offshore Drilling Services contract for six high-pressure high-temperature (HPHT) exploration wells in the Arabian Gulf

Competition Landscape

The fluid end assembly market is led by multinational players operating across the globe. Prominent players functioning in the fluid end assembly market are Halliburton, The Weir Group PLC, Forum Energy Technologies, Gardner Denver, Inc, EnTrans International, LLC, and Alco Group.

Global Fluid End Assembly Market: Segmentation

Fluid End Assembly Market, by Type

Triplex Fluid End
Quintuplex Fluid End
Fluid End Assembly Market, by Material

Carbon Steel
Stainless Steel
Fluid End Assembly Market, by Application

Onshore
Offshore
Fluid End Assembly Market, by Region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
ASEAN
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East & Africa
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