In the recent times, aerospace maintenance chemicals market has been traversing along an exponential growth path. The rising disposable incomes and the apparent enhancement in the living standards of middle class households, especially in the developing economies, coupled with low air fares has provided a tremendous boost to the tourism sector
The increased number of flight frequencies and strict regulations prescribed by aviation authorities regarding passenger and aircraft security have further necessitated frequent maintenance checks of the aircrafts. This will apparently contribute to the rapid expansion of aerospace maintenance chemicals market, estimated to have surpassed a total valuation of USD 7 billion in 2017.
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The importance of this product segment can be underlined by the fact that the aviation paint removers are forecast to register highest CAGR among all the other products, which would further accelerate the global aerospace maintenance chemicals market size progression in the ensuing years. As per estimates, aerospace maintenance chemicals industry size from aviation paint removers is forecast to record a growth rate of 3.7% over 2018-2024.
Meanwhile, it would be prudent to mention that aerospace maintenance chemicals industry has been swamped with latest product innovations, which have augmented the market share of this business sphere in a drastic manner. Laser paint removal or popularly known as Laser paint stripping has now emerged as one of the most reliable solutions in the aerospace maintenance chemicals market to replace environment degrading and hazardous mechanical paint stripping procedures that have lately been the norm in the aircraft paint removal segment
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Some of the boldest initiatives in launching upgraded products in aviation paint stripping segment are widely being undertaken by leading aerospace maintenance chemicals market players. LR Systems for instance, has recently unveiled its first state-of-the-art paint stripping robot that would help the aircraft carriers to lower the maintenance costs, eliminate perilous and unsafe paint stripping tasks, and reduce the overall weight on the aircrafts.
The robot ensures paint stripping twice as fast as the conventional method. The Netherlands-based firm has announced that their paint stripping robot would be deployed by next year with Singapore Airlines Engineering Company. Apparently, such dynamic moves by leading aerospace maintenance chemicals industry players are bound to leave a favorable influence on the growth prospects of this business sphere over the estimated time span.
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Shifting manufacturers preference due to easy compatibility with various equipment offering superior performance & fast operations will drive the inorganic materials growth rate. Competitive product pricing coupled with better availability for customized orders will boost aerospace maintenance chemicals market size over the forecast timeframe.
Shell, Eastman, The Dow Chemical Company, and Arrow Solutions are among the prominent players in aerospace maintenance chemicals market. Other notable players including 3M, Wesco aircraft, KLX Inc., and Henkel. Companies are implementing strategies such as strategic partnerships to enhance their industry share.
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