Aircraft Tube and Duct Assemblies Market Projected to reach US$ 6,229.4 million by 2033, Expanding at CAGR of 8.92% | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
Increasing investments in the United States aviation sector, driven by a large aircraft fleet, fuel demand for aircraft tube and duct assemblies. The rising tourism influx propels investments in aviation in the United Kingdom, fostering demand for innovative MRO services leveraging IoT and big data.
NEWARK, Del, Nov. 29, 2023 (GLOBE NEWSWIRE) -- The global aircraft tube and duct market in 2022 was US$ 1,300 million and is estimated to be valued at US$ 2,650.23 million in 2023. As Per Future Market Insights estimation, the aircraft tube and duct market is projected to expand at a CAGR of 8.92% between 2023 and 2033, totaling around US$ 6,229.4 million by 2033.
Manufacturers mainly focus on the advancements in technology and the companies intend on delivering modern and sophisticated tube and duct assembly solutions. The company strategizes by a decrease in developmental costs and reducing development time with the reference to design software for smart and energy-efficient aircraft tube and duct assemblies.
The surge in the demand for aircraft tube and duct assemblies is thus, expected in the creation of beneficial opportunities for the market rate. Whereas, a decline in demand for aircraft tube and duct assemblies and the financial crisis among consumers are anticipated to act as major restraining factors for the growth of the aircraft tube and duct assemblies market during the forecasted period.
Key Takeaways from the Market Study
Sales of the aircraft tube and duct market are said to account for a 3% share of the aircraft tube and duct market.
The anticipated value of the global aircraft tube and duct market expanded at a CAGR of 7.42% between 2018 and 2022.
Aircraft tube and duct industry in North America holds a market share of 44.4%.
The global industrial landscape for Europe occupies a significant share of 24.6%.
India is expected to have a dominant market expanding at a CAGR of 7.77% during the forecast period.
Based on application type segmentation, it is mentioned that demand for engine bleeds is said to be with a market share of 70.2%.
Based on the aircraft type segment, commercial aircraft is set to retain their dominating positions in the aircraft tube and duct assemblies market with a market share of 77%.
“Maintenance systems equipped with connective technologies are being launched is said to be one of the major drivers of the aircraft tube and duct market”, - says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
Competition Landscape
The aircraft tube and duct industry consists of several market players. Research and development is one of them that is mainly used for the introduction of environmentally friendly product lines from the core aspect of these manufacturers. In addition to that, other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.
Some of the prominent players profiled in the global market are-
Some of the key developments of the leading players in the aircraft tube and duct market are-
In January 2023, Exotic Metals Forming Company is going to try to broaden its approaches to exploration and development that might monetize its low carbon position through premia.
In December 2022, Hartzell highlighted new propeller products at EAA AirVenture 2022 for aircraft that include the Diamond DA40 NG, Mooney M20M/TLS/Bravo, and Wipaire's four-blade carbon fiber propeller STC for the Cessna Caravan.
Scope of Report
Report Attribute
Details
Growth Rate
CAGR of 8.92% from 2023 to 2033
Market value in 2023
US$ 2,650.23 million
Market value in 2033
US$ 6,229.4 million
Base Year for Estimation
2022
Historical Data
2018 to 2022
Forecast Period
2023 to 2033
Quantitative Units
US$ million for Value and CAGR from 2023 to 2033
Report Coverage
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Aircraft Tube and Duct Assemblies Market Segmentation
By Applications:
Engine Bleeds
Thermal Anti-Ice
Pylon Ducting (HVAC) Enamel
Fuselages
Inlets/Exhausts
Environment Control Systems (ECS)
Lavatories
Waste Systems
By Aircraft Type:
Commercial Aircraft
Narrow Body Aircraft
Wide Body Aircraft
Regional Jets
Fighter Jets
Military Aircraft
By Material:
Steel
Nickel
Titanium
Aluminum
Composite
Inconel
By Sales Channel:
OEMs
Aftermarket
By Region:
North America
Latin America
Eastern Europe
Western Europe
Asia Pacific excluding China & Japan
Japan
China
The Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil and gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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