Aircraft Tube and Duct Assemblies Market to Reach US$ 1.8 Bn Valuation by 2029, on Back of Rising Air Passenger Traffic, Globally

Mar 03,2020 | Automotive & Transportation

Passenger traffic in the aircraft industry continues to register growth rates above historical averages, supported by the reduced price of travel and increasing middle-class population in developing markets. This rise is playing a crucial role in driving the growth of the global aircraft tube and duct assemblies market.

The global aircraft tube and duct assemblies market is projected to expand at a CAGR of 4% during the forecast period of 2019-2029.

Key Takeaways of Aircraft Tube and Duct Assemblies Market Study

  • Aerospace industry is increasing the usage of aluminum in aircraft tube and duct assemblies, as aluminum is a lightweight and high-strength material. In the global aircraft tube and duct assemblies market, aluminum holds approximately one-third market share.
  • Tier-I manufacturers operating in the global aircraft tube and duct assemblies market are Eaton, Exotic Metals Forming, Leggett & Platt, Incorporated, and PFW Aerospace GmbH. On the other hand, AMETEK. Inc., Smiths Group PLC, Sigma Precision Components Ltd., and some other players are estimated to stand in the tier-II bracket in the global aircraft tube and duct assemblies market.
  • Key players are focusing on the expansion of their footprints by establishing manufacturing units and distribution channels in various regions.
  • Global defense spending is at a high record. The biggest spenders on defense are the U.S., China, France, Saudi Arabia, and India. Implementation of advanced, combat, and stealth-based aircraft procurement programs has augmented military spending, worldwide. This growing trend is expected to upsurge the demand for aircraft tube and duct assemblies.
  • Development of lightweight materials and increasing sales of aircraft are anticipated to drive the growth of the market over the forecast period.

“Original equipment manufacturers (OEMs) are projected to hold more than 90% share in the global market, as the replacement of tube and duct assemblies is found to be very limited.”

aircraft tube and duct assemblies market share by region

Market Landscape Moving towards Consolidation

The aircraft tube and duct assemblies market is expected to be dominated by tier-I manufacturers, who hold more than 50% share of the global market. Prominent players involved in the global aircraft tube and duct assemblies market are shifting their focus on repair solutions rather than replacement products with full-service. This has resulted in providing approximately 50 percent or more cost reduction.

For More Detailed Insights on Aircraft Tube and Duct Assemblies Market

What Does the Future Hold?

The aircraft market in the Middle East has witnessed high growth and development over the past few years. For instance, wide body aircraft are anticipated to see more prominence in the Middle East. This growth is predominantly driven by the region’s development as an aviation hub. This has consequently created immense opportunities for the sales growth of the aircraft tube and duct assemblies market in the region.

Want to Know More?

Future Market Insights has published a market research report on the aircraft tube and duct assemblies market that contains global industry analysis of 2014–2018 and opportunity assessment for 2019–2029. The report provides insightful analysis of the aircraft tube and duct assemblies market through five different segments - application, aircraft type, material, sales channel, and region. The aircraft tube and duct assemblies market report also provides supply and demand trends, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the parent market.

For additional information, write to the analyst at press@futuremarketinsights.com

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Media Contact

Rahul Pandita

Rahul Pandita

Head – Corporate Communications

Abhishek Budholiya

Abhishek Budholiya

Head – Digital Marketing