A recent report published by
Infinium Global Research on the aerospace nanotechnology market provides an in-depth
analysis of segments and sub-segments in the global as well as regional
aerospace nanotechnology market. The study also highlights the impact of
drivers, restraints, and macro indicators on the global and regional aerospace
nanotechnology market over the short term as well as the long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of the global
aerospace nanotechnology market. According to the report, the global aerospace
nanotechnology market is projected to grow at a CAGR of around 4% over the
forecast period of 2022-2028.
The revenue generated by the aerospace nanotechnology market was over USD 5 billion in 2022 and is expected to reach about USD 7 billion
in 2028 and is expected to grow with a CAGR of around 4% over the forecast
period 2022-2028. The emergence of nanotechnology has drastically changed the
dynamics of several end-user industries. Nanotechnology helps in manufacturing
products with superior strength, durability, and lightweight. It has found
significant application in the field of aerospace. By using nanotechnology, the
manufacturers can develop products with greater strength and reduced weight,
which helps to improve the performance of the aircraft. The aerospace
nanotechnology market is highly competitive and fragmented in nature. Several
well-established companies compete with the new market players for their share
of the market. The key players including Airbus SE, Lockheed Martin
Corporation, and others are focusing on the development of new manufacturing
methods to reduce production costs.
The covid-19 pandemic had severe
impacts on the aerospace nanotechnology market. The biggest impact was felt by
R&D programs undertaken by aerospace research institutions in collaboration
with market players. As drastic measures such as lockdowns were
implemented, the physical movement of people was hampered. Along with social
distancing norms, there was a dearth of professionals involved in R&D programs
which led to either the delaying of the projects or their postponement. The
supply chain disruption affected the sourcing of raw materials. Aerospace
manufacturing was also jolted due to the low availability of manpower,
restrictions on facility operations, and difficulties in sourcing raw
materials. With the subsiding of the covid-19 pandemic, the market has also
recovered quickly. The increase in the adoption of carbon nanotube nanocomposites
in the manufacturing of airframes is majorly driving the aerospace nanotechnology
market. Reinforcing carbon nanotubes in a material improves the strength and
durability of that material. This is useful for producing components for
aircraft to improve their strength while keeping their weight to a minimum. By using
nanotechnology the weight of components and the equipment in the aircraft can
be reduced, which reduces the overall weight of the aircraft. The reduced
weight helps to improve the performance of the aircraft. Furthermore, the
increase in the use of nanotechnology to manufacture propulsion systems,
nanosensors, and multiwall carbon nanotubes is supporting the growth of the
aerospace nanotechnology market. The strong growth of the aviation sector is also
expected to enable the growth of the market. The growing number of air
passengers has increased the demand for new aircraft which increases the use
of nanotechnology in their manufacturing. However, the fluctuating prices of
raw materials are the major restraining factor for the growth of the aerospace
nanotechnology market. Nevertheless, the growing investments in the R&D of
aerospace nanotechnology are expected to offer lucrative opportunities for the
key players in the aerospace nanotechnology market.
In terms of region, North America
held the highest market share, dominating the global aerospace nanotechnology
market. The dominance of the North American region is attributed to the growing
focus of OEMs, engine manufacturers, and component suppliers to reduce the
overall weight of an aircraft and the increase in the adoption of nano and
microsatellites. Moreover, the significant presence of global provides
nanotechnology vendors is expected to boost the growth of the aerospace
nanotechnology market in North America. The demand for new aircraft is high in
North America as this region has one of the biggest aviation sectors in the
world. Furthermore, the commercialization of the space sector has happened at an
unprecedented rate with companies such as Virgin Galactic, SpaceX, and Blue
origin being the leaders. These companies are investing largely in new
technologies such as nanotechnology for bringing down the cost of their space
operations.
The report on the global aerospace
nanotechnology market covers segments such as nanomaterial type, and
application. On the basis of nanomaterial type, the sub-markets include
nanocomposites, nanoparticles, nanocoatings, and others. On the basis of
application, the sub-markets include space & defense, and commercial
aviation.
The report provides profiles of
the companies in the market such as Airbus SE, Huntsman International LLC,
Nanotechnology Company Glonatech SA, Lockheed Martin Corporation, Meijo Nano
Carbon, Zyvex Technologies, Veelo Technologies, LLC.,
TOUGHGUARD, LLC., and Raymor Industries Inc., Others.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the aerospace nanotechnology market. Moreover, the study highlights
current market trends and provides forecasts from 2022-2028. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings insight into the market share of the leading players.
Please Choose One of them.