The aircraft tube and duct assemblies market is anticipated to grow from $1.77 billion in 2023 to $1.92 billion in 2024 at a CAGR of 8.2%. This growth is attributed to rising air passenger traffic, an increasing demand for lightweight materials, and a focus on cabin comfort. The market is expected to reach $2.64 billion by 2028, growing at a CAGR of 8.3%. Contributing factors include a rising demand for air travel and increased defense expenditure. Major trends in this forecast period will include advancements in composite materials, the integration of smart sensors, and innovations in noise-reducing technologies.
Major Driver In The Aircraft Tube And Duct Assemblies Market
The aircraft tube and duct assemblies market is anticipated to grow significantly as aerospace manufacturing capabilities expand. The rising demand for new aircraft and advancements in production efficiency are key drivers. Recent reports indicate the UK's civil aerospace turnover reached approximately $34.5 billion in 2022. This growth in aerospace manufacturing underscores the critical role of tube and duct assemblies in ensuring optimal performance and safety within the industry.
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Aircraft Tube And Duct Assemblies Market Competitive Landscape
Eaton Corporation plc, Safran S.A., Parker-Hannifin Corporation, AMETEK Inc., Leggett & Platt Incorporated, Smiths Group plc, Moog Inc., ITT Inc., Triumph Group Inc., Senior plc, Ducommun Incorporated, Unison Industries LLC, PFW Aerospace GmbH, Société Nationale de Construction Aérospatiale NV (SONACA NV), Flexaust Company Inc., STEICO Industries Inc., RSA Engineered Products LLC, Sigma Components Holdings Ltd, Woolf Aircraft Products Inc., Fiber Dynamics Inc., Mundo-Tech Inc., PMF Industries Inc., Flexco Inc., Amcraft Manufacturing Inc.
Key Aircraft Tube And Duct Assemblies Market Trend
Major companies operating in the aircraft tube and duct assemblies market are developing innovative products with advanced thermoplastic materials to enhance structural strength, reduce maintenance costs, and improve fuel efficiency in aerospace applications. Thermoplastic materials improve aircraft tube and duct systems by providing high strength-to-weight ratios, corrosion resistance, ease of manufacturing, and excellent thermal and acoustic insulation, enhancing overall efficiency and reducing maintenance costs. For instance, in July 2021, Northrop Grumman, a US-based aerospace and defense company, received Federal Aviation Administration (FAA) approval to utilize ESD PEKK, an advanced aerospace thermoplastic. ESD PEKK dissipates static, provides thermal stability and chemical resistance, and mitigates radiation damage. It integrates discontinuous carbon fibers through additive manufacturing, ensuring effective static discharge in critical aerospace systems and enhancing durability in aircraft tube and duct assemblies, meeting stringent aerospace standards.
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Aircraft Tube And Duct Assemblies Market Segmentation
The aircraft tube and duct assemblies market covered in this report is segmented –
1) By Duct Type: Rigid, Semi Rigid, Flexible
2) By Material: Steel, Nickel, Titanium, Aluminum, Composite, Inconel
3) By Application: Engine Bleeds, Thermal Anti-Ice, Pylon Ducting (HVAC) Enamel, Fuselages, Inlets And Exhausts, Environment Control Systems (ECS), Lavatories, Waste Systems
4) By Sales Channel: Original equipment manufacturers (OEMs), Aftermarket
5) By End User: Commercial Aircrafts, Military Aircrafts, Other End Users
By Geography:The regions covered in the aircraft tube and duct assemblies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the aircraft tube and duct assemblies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Aircraft Tube And Duct Assemblies Global Market Report 2024 furnishes information about the global aircraft tube and duct assemblies market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
