Stratview Research has announced the launch of a new aircraft interior elastomers market market research report broken out by commercial and regional aircraft and general aviation, the company said.
The report provides a comprehensive analysis that reflects today´s aircraft interior elastomers market realities and future possibilities for the forecast period 2020 to 2025. The report segments and analyzes the market in the most comprehensive manner to provide a panoramic view of the market considering the impact of COVID-19. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of low-hanging fruits available as well as formulate growth strategies.
The COVID-19 pandemic has worsened the already troubled aerospace industry, which was expected to recover from some burning challenges from the second half of 2020 with FAA´s approval to Boeing for B737 max. Aircraft elastomers business could not escape itself from this changing market conditions and are estimated to witness a humongous decline in 2020, mainly due to the pandemic. Airlines are either canceling their orders or requesting airframers to delay the aircraft deliveries, which, in turn, is heavily impacting the business of OEMs, tier players, as well as raw material suppliers including elastomers for aircraft interiors.
The long-term outlook is still promising with rebounding growth opportunities across regions. Boeing in its 2019-2038 outlook, anticipated the total new commercial and regional aircraft deliveries to be 44,040 aircraft units during 2019-2038. Similarly, Airbus anticipated 39,210 commercial and regional aircraft deliveries during the same period, assuring a positive comeback in the demand from 2021 onwards. This would ultimately drive the global aircraft interior elastomers market to reach US$ 45.5 million in 2025.
Several other factors may contribute to the growth of elastomers in the long term. Some of these are increasing commercial aircraft fleet size, aging aircraft fleet, and advancing fire test standards.
Stratview Research is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.