Regionally, the global aircraft ice protection system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is projected to witness noteworthy growth over the forecast period on the back of the presence of many ice protection systems and aircraft manufacturers in the region. In 2019, the aircraft manufacturing industry amounted to approximately USD 135 billion in the US and is further forecasted to grow over the forecast period. Furthermore, the United States is considered the country to have the highest number of airports in the world. For instance, in 2019, it was noticed that more than 20,000 airports are solely located in the United States.
Furthermore, the global aircraft ice protection system market is also projected to grow at a remarkable pace in the Asia Pacific region during the forecast period. The growth of the market in the region can be accounted to the rising manufacturing of aircraft and the growing aircraft maintenance market in the region. For instance, in 2021, the only aircraft engine maintenance market was valued at around 5 billion U.S. dollars in the Asia Pacific region. All these factors are projected to boost the growth of the market in the region over the forecast period.
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The global aircraft ice protection system market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of the source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to a decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by the shutdown of numerous business operations impacting their growth. This also resulted in the decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas, and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environmental degradation and awareness related to climate change are motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Our in-depth analysis of the global aircraft ice protection system market includes the following segments:
May 11, 2022: Liebherr group makes the delivery of LTM 1110-5.1, a crane model, to Fagioli S.p.A. This crane model is known to facilitate considerable support owing to its high mobility, flexibility, and versatility.
April 13, 2022: CLARIANT Corporate Group to introduce a price increase across the Catalysts portfolio as the contract permits the implementation time.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Payel Roy, Dhruv Bhatia
Ans: Growing necessity to remove atmospheric ice from aircraft surface and increasing awareness of aircraft safety are the major factors driving the growth of the aircraft ice protection system market.
Ans: The market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 - 2031.
Ans: The major players in the market are CAV System Ltd, Safran incorporated, CLARIANT Corporate Group, Raytheon Technologies Corporation, Honeywell International Inc., and Curtiss-Wright Corporation.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, system, technology, application, and by region.
Ans: The commercial segment is anticipated to hold the largest market size in value and is estimated to grow further over the forecast period and display significant growth opportunities.
Ans: The requirement for a high initial investment is estimated to hamper the market growth.
Ans: North America region will provide more business opportunities for growth of the market in the future on the back of presence of significant manufacturers of aircraft and its equipment in the region.