The global aerospace tube assemblies market is predicted to expand at a decent rate due to the increase in aerospace parts manufacturing activities.
LOS ANGELES, CALIFORNIA, UNITED STATES, December 31, 2019 /EINPresswire.com/ — QY Research has added a new report to its archive of machinery and equipment market research reports. Titled “Global Aerospace Tube Assemblies Market Report History and Forecast 2014-2025,” the new report offers deep insights into critical aspects such as market competition, dynamics, segmentation, regional growth, and industry value chain. As per the report, the global aerospace tube assemblies market is expected to rise at a healthy CAGR of 6.6% during the forecast period 2019-2025. By the end of 2025, the revenue of the global aerospace tube assemblies market is projected to reach above US$1.3 Bn. In 2018, the global market revenue touched over US$0.9 Bn.
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New Aircraft Programs and Presence of Key Manufacturers in North America – North America is anticipated to become an important market for aerospace tube assemblies in future. The US could be a crucial contributor to the regional market growth. Some of the key growth drivers of the North America aerospace tube assemblies market are:
• High demand for commercial aircrafts
• Presence of key aircraft OEMs and aerospace parts manufacturers
• Increased manufacture of fuel-efficient aircrafts
• High defense budget increasing the manufacture or maintenance of military aircrafts and their components
Aggressive Rise of Aerospace and Defense Industry Anticipated to Boost Demand – Market analysts expect the rapid expansion of the aerospace and defense industry to create rewarding opportunities for players in the global aerospace tube assemblies market. In one of its press releases published in June 2019, US aerospace company Boeing announced that it forecasts the aerospace and defense market to reach a value of over $8.0 trillion through 2028. Steady increase in air travel, expansion of commercial fleets, and replacement of commercial airplanes with fuel-efficient, more capable, and lightweight variants could increase the demand for aerospace tube assemblies in the near future.
Titanium Alloys with High Strength-to-weight Ratio for Aerospace Tube Assemblies – On the basis of product type, the global aerospace tube assemblies market is segmented into nickel alloys, aluminum alloys, titanium alloys, and others. Important application segments of the global aerospace tube assemblies market covered in the report are military aircraft, helicopter, civil and cargo aircraft, and others. According to market experts, the titanium alloys segment is expected to show fast growth in the global aerospace tube assemblies market. Titanium alloy-based aerospace tube assemblies come with favorable properties such as:
• High strength-to-weight ratio
• Ability to withstand corrosion and high pressure
• High temperature resistance
Acquisition of Small Companies Supports Gradual Consolidation of Market – Key players studied by the authors of the report are PFW Aerospace, ITT Inc., Leggett & Platt, Tecalemit Aerospace, Parker Hannifin, Flexfab, Eaton Corporation, Smiths Group, Arrowhead Products, Ametek, Senior PLC, and Unison Industries. Merger and acquisition could be one of the leading strategies adopted by popular companies to increase their competitiveness in the global aerospace tube assembles market. Market analysts anticipate the global aerospace tube assemblies market to gradually move toward consolidation.
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Source: EIN Presswire