Post COVID-19 Impact on Aerospace Maintenance Chemical Market
With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.
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Our study helps to acquire the following:
- Long-term and short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on Aerospace Maintenance Chemical Market, due to the impact on its extended ecosystem
- Understanding the market behaviour Pre- and Post-COVID-19 pandemic
- Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
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Pre COVID-19 Analysis on Aerospace Maintenance Chemical Market
Long back, with a perfect blend of science, engineering, and business, man came up with an astonishing invention of airplanes. This invention has undeniably proved as a blessing to the mankind. It has taken our lives to the next level by adding both luxury and convenience to our busy schedules.
According to a study, Aerospace Maintenance Chemical Market by Research Dive, the global market will surpass $ 8,512.7 Million by 2026.
Rising air travels along with rising air passengers and decreasing costs of air tickets are some of the aerospace maintenance chemical market insights.
Rising air travellers, coupled with increase in aging aircrafts are giving significant boost to the growth of Global Aerospace Maintenance Chemical Market @ https://www.researchdive.com/purchase-enquiry/27
Aerospace industry is all about the research, design, manufacture, operation, and maintenance of aircrafts. Along with all the other vital activities that any aircraft service provider follows, the cleaning and maintenance of aircrafts is also given prime importance. This is mainly because of the increasing need to improve the fuel efficiency of the aircrafts. Also, a rapid growth in air travelers across the developed and developing countries is rising the demand for advance aerospace maintenance solutions across several regions.
Key Market Segmentation of type of Aircraft in Aerospace Maintenance Chemical Market
- Jumbo Passenger Jets
- Mid-size Passenger Jets
- Light Passenger Jets
- Space Aircraft
Aerospace maintenance chemicals are one such solution for maintaining the smooth functioning of aircraft services. These chemicals are nothing but cleaners that are used for the operational proficiency of the aircrafts. They are used as cleaning materials, degreasers, paint strippers, paint removers, and aircraft washers & polishers. These cleaners keep the aircraft free of corrosion and clean from inside and outside.
New techniques to uphold the maintenance of Aircrafts
With several researches, airline industry has introduced many new techniques to uphold the maintenance of aircrafts and one such is aircraft drywash technique. In this technique, the aerospace drywash cleaning chemicals are used, which need very less quantity of water for cleaning purposes. Besides, aircrafts stay hygienic and clean after this procedure, and reduce their fuel consumption rate.
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Currently, the aerospace maintenance chemical market is in its development phase and is sure to grow in the coming years. A research by Research Dive, on the global aerospace maintenance chemical market stated that the market is expected to generate revenue of $8,512.7 million by 2026 and expand at a CAGR of 3.6% from 2019 to 2026. This is attributed to the several companies in this industry that are expanding their business through new product developments and inventions. These market players are adopting several recent trends in aerospace maintenance chemical market along with many strategies such as mergers & acquisitions and joint ventures.
In February 2018, AAR Corp. entered into a joint venture with Indamer Aviation, a leading aviation company in India, to introduce a new maintenance, repair and overhaul (MRO) facility in India. This will improve the growth of the operations of maintenance, repair and overhaul services in this country. Apart from advanced product developments, the market players are also focusing on strengthening distribution networks in order to improve their position in the aerospace maintenance chemicals market. In August 2017, Nuvite Chemical Compounds introduced NPC/3 dry wash product line for airframe maintenance. These new products were meant to improve the features of NPC/3 with minimal dust and low odor. This initiative helped the company to improve their product offerings with additional benefits.
Recently, Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, is expanding its Asia Pacific (APAC) service offerings with the Textron Inc. acquisition of Premiair Aviation Maintenance Pty Ltd, an Australian Maintenance, Repair and Overhaul (MRO) service provider. Formerly named an Authorized Service Facility (ASF), Premiair now joins the global support network owned by the Textron Aviation company to service Cessna, Beechcraft, and Hawker products at service centers strategically located all over Australia.
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Key Players in the Market
- AAR Corporation (NYSE: AIR)
- Boeing Company (NYSE: BA)
- Bombardier Inc. (TSE: BBD.B)
- Embraer S.A. (BVMF: EMBR3)
- Henkel AG & Co. KGaA (ETR: HEN3)
- Exxon Mobil Corporation (NYSE: XOM)
- Eastman Chemical Company (NYSE: EMN)
- Air France Industries and KLM Engineering & Maintenance
- Airbus SAS
- GE Aviation
- Nexeo Solutions
- Delta TechOps
On the other hand, growing inventions in the space exploration field is also greatly contributing the growth of market in North America. Many activities such as Space Exploration Vehicles (SEV), unmanned aerial systems (UAS), and advanced commercial and military aircrafts are under development phases in organizations such as SpaceX. Such innovative developments are paving way for growth of the aerospace maintenance chemicals industry in the upcoming years.
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