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  • Invar Tooling Market Growth Analysis | 2021-2026

    Invar Tooling Market Growth Analysis | 2021-2026

    Invar Tooling Market Growth Analysis | 2021-2026
    Report code - SRCE203 Published On : Sep,2021 No. of Pages: 90
    Invar Tooling Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opport See more...

    Market Highlights

    Invar, a nickel-steel alloy, is the preferred material for high-volume runs of composite parts. Invar tool is a heavy, expensive, and most durable metal tool which can withstand thousands of production cycles. It has uniquely low CTE (Coefficient of Thermal Expansion) that is close to reinforced plastics used to mold the parts. Invar matches the CTE of composites up to 200oC, but high cost, weight, and long lead times are major factors somehow hindering its greater penetration.

    For tooling, a wide range of materials, such as tooling prepreg, aluminum, invar, infusion, and epoxy tooling boards, are used for composite part fabrication. All the different materials registered different degrees of impact amid the pandemic. Invar, the unique tooling material with high preference in high-performance industry, recorded a colossal impact of the pandemic (-30.5%) in the year, crashing the market to well below its 2015-market numbers.

    The market has started recording an early sign of recovery with a gradual increase in the production rates of fuel-efficient narrow-body aircraft. The ungrounding of Boeing’s B737Max in November 2020 coupled with a gradual increase in its production rates, expected increase in the production rate of A220 and A320 family, and market entries of upcoming aircraft programs assist the market stakeholders to quickly rejuvenate the demand for invar tooling. Overall, the market for invar tooling is estimated to grow at a healthy CAGR of 8.8% over the next five years (2021-2026) to reach US$ 0.5 billion in 2026. Furthermore, an incessant increase in the penetration of advanced composites in the latest aircraft programs gives an impetus to the overall market recovery trajectory.

    Market Segments' Analysis

    By End-Use Industry Type

    Based on the end-use industry type, the invar tooling market is segmented as aerospace and others. Aerospace is expected to remain the larger and the faster-growing segment of the market during the forecast period. Invar tool is predominantly used in aerospace applications owing to its high durability, property to withstand several autoclave cure cycles and low coefficient of thermal expansion. Wing skins, inboard, and outboard flap parts, and fuselage sections made of composites are preferably fabricated through the invar tools. Other applications of invar tooling include parts of submarines and natural gas storage tanks.

    Regional Insights

    In terms of regions, North America is expected to remain the largest market for invar tooling during the forecast period. The USA is the growth engine of the region’s market with the presence of invar tooling manufacturers, aircraft OEMs, tier players, and raw material suppliers.

    Asia-Pacific is likely to recoup at the fastest rate during the same period with strong potential from emerging economies such as China and India.  The key factors driving the region’s market are increasing aircraft fleet to support rising passenger traffic; the opening of assembly plants of Boeing and Airbus for multiple aircraft programs; increasing procurement of military aircraft, owing to rising defense budget; and upcoming indigenous aircraft, C919.

    Key Players

    The supply chain of this market comprises several nodes including raw material suppliers, invar tooling manufacturers, tier players, and end-users (aircraft OEMs). The following are the key players in the invar tooling market.

    • Ascent Aerospace (Part of AIP Aerospace Tooling Group)
    • Alpex Technologies GmbH
    • Baker Industries (The Lincoln Electric Company)
    • KTL Tooling (Earlier Kaman Tooling)
    • Models & Tools
    • North Coast Tool and Mould
    • Reuther Mold and Manufacturing
    • Vector Tooling Technologies
    • Visioneering Inc.
    • Weber Manufacturing Technologies Inc

    The ability to make invar tools with high precision and accuracy as per the tooling requirement of end-use OEMs (mainly aircraft OEMs) is the key strategy adopted by the major players to gain a competitive edge in the market.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s invar tooling market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

    The invar tooling market is segmented into the following categories. 

    Invar Tooling Market, by End-Use Industry Type

    • Aerospace (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Invar Tooling Market, by Region

    • North America (Country Analysis: the USA, Canada, and Mexico)
    • Europe (Country Analysis: the UK, Germany, France, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil and Others)

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The invar tooling market is estimated to grow at a healthy CAGR of 8.8% by 2026, driven by an expected recovery in the demand for composite materials in the post-pandemic market developments.

    Ascent Aerospace (Part of AIP Aerospace Tooling Group), Alpex Technologies GmbH, Baker Industries (The Lincoln Electric Company), KTL Tooling (earlier Kaman Tooling), Models & Tools, North Coast Tool and Mould, Reuther Mold and Manufacturing, Vector Tooling Technologies, Visioneering Inc., and Weber Manufacturing Technologies Inc are the leading players in the market

    North America is estimated to remain dominant in the market in the foreseen future.