Portland, OR, Nov. 14, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global aircraft band clamps market generated $190.3 million in 2021, and is estimated to reach $312 million by 2031, witnessing a CAGR of 5.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Aircraft Band Clamps Industry Report Coverage & Details:
|Market Size in 2021||$190.3 Million|
|Market Size in 2031||$312 Million|
|No. of Pages in Report||280|
|Segments Covered||Material, Application, End Use, Sales Channel, and Region|
|Drivers||Rise in air traffic bolstering the requirement of new aircrafts.|
|Increase in aircraft deliveries.|
|Rise in inflight passengers across the globe.|
|Opportunities||Increase in new aircrafts and their modernization.|
|Rise in need for robust aircraft band clamps to ensure operations in extreme pressure and temperature|
|Restraints||Inefficient supply chain and use of more advanced smart clamps.|
- The COVID-19 pandemic had a negative impact on the global aircraft band clamps industry.
- Airport traffic and income were significantly impacted by the COVID-19 pandemic. According to ACI, the rapid spread of the virus and the implementation of containment measures by governments, such as staying at home and airport closures led to a 22.9% decline in global air traffic in February and a 53.1% decline in March 2020, leading to a drop in passenger volume of 620 million in the first quarter of 2020.
- Owing to a 90% global reduction in passenger travel, April 2020 was an especially challenging month. The grounding of aircraft resulted in a drastic decline of aircraft engines, which also affected the component industries like band clamps.
The report offers a detailed segmentation of the global aircraft band clamps market based on material, application, end use, sales channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on material, the aluminum segment held the largest share of nearly one-fourth of the global aircraft band clamps market in 2021, and would maintain its leadership in terms of revenue through 2031. The same segment is estimated to witness the fastest CAGR of 5.8% during the forecast period. The report also analyzes the nickel, titanium, stainless steel, and others segment.
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Based on application, the engine segment was the largest in 2021, capturing nearly two-fifths of the global aircraft band clamps market share, and would rule the roost through 2031. However, the landing gear segment is estimated to witness the fastest CAGR of 5.9% during the forecast period. The report also mentions the airframe and interiors and others segments.
Based on end use, the commercial segment was the largest in 2021, grabbing over three-fifths of the global aircraft band clamps market share and dominate in terms of revenue during the forecast period. However, the military segment is estimated to witness the fastest CAGR of 5.8% during the forecast period.
Based on sales channel, the OEM segment was the largest in 2021, grabbing nearly three-fifths of the global aircraft band clamps market share and dominate in terms of revenue during the forecast period. However, the aftermarket segment is estimated to witness the fastest CAGR of 5.7% during the forecast period.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for nearly one-third of the global aircraft band clamps market share. However, the same segment in is likely to maintain its leadership status and is expected to manifest the highest CAGR of 5.9% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global Aircraft band clamps market analyzed in the research include TransDigm Group, Inc., Teconnex India, Eaton Corporation plc, Caillau, Ho-Ho-Kus, J&M Products, Inc., National Utilities, Pacmet Aerospace, UMPCO, Inc., Clampco Products, Inc., Consolidated Aerospace Manufacturing, LLC, Destaco, United Aircraft Technologies, Inc., LAS Aerospace Ltd., Click Bond, Inc., Wicks Aircraft Supply, and Avionics Mounts Inc.
The report analyzes these key players of the global aircraft band clamps market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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