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    Aerospace Tubes Market Report

    Aerospace Tubes Market Report
    Report code - SRAD338 Published On : Jun,2021 No. of Pages: 220
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    Aerospace Tubes Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Oppo See more...

    Impact of COVID-19 on Aerospace Tubes Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Aerospace Tubes Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Highlights

    Tubes are the major components used in the fluid conveyance and engine sections, wherein high-temperature resistance with excellent corrosion resistance is critically required. The selection of material is dependent on several parameters including temperature resistance, lightweight, durability, strength, etc. Steel & alloys, titanium & alloys, and nickel & alloys are the three major materials used by the tube manufacturers. Titanium & alloys are gaining traction in the market driven by their enormous advantages over others.

    The flourishing aerospace industry was hit with the B737Max grounding in 2019 causing dishevel in the industry. In 2020; however, the pandemic hit the industry hard, causing unimaginable disruption and losses for the stakeholders. The aerospace tubes market followed suit and logged a massive decline of -24% in 2020, creating a lag of 4 to 5 years in the market (unlike our pre-COVID estimates that suggested healthy growth in the market, aligning with the market’s movement at the time).

    However, the long-term outlook still seems fruitful, well backed by the industry’s buoyant nature and strong fundamentals. The lift of Boeing’s B737Max in October 2020, gradual opening up of travel restrictions, rebounding aircraft deliveries, and Airbus’ significantly healed revenue (reaping profit in Q1 2020 as opposed to grave loss in Q1 2020) are among the few key factors signaling towards the industry’s take off to a healthy recuperation, helping the market stakeholders to recoup at a propitious rate of 8.0% to reach US$ 0.9 Billion in 2026. 

    Segments' Analysis

    Aerospace Tubes Market Share by Platform Type

    Based on the platform type, the aerospace tubes market is segmented as commercial aircraft, regional aircraft, general aviation, military aircraft, helicopter, UAV, and spacecraft. Despite taking a nosedive in 2020, commercial aircraft is expected to remain the largest and the fastest-growing segment of the market during the forecast period. Increasing demand for lightweight yet durable components and parts, market entry of new players, such as COMAC and Irkut, rebounding aircraft deliveries, and ungrounding of B737Max are some of the key factors propelling the demand for tubes in the commercial aircraft segment.

    Aerospace Tubes Market Share by Material Type

    Based on the material type, the market is segmented as titanium & alloys, nickel & alloys, steel & alloys, and others. Titanium & alloys are expected to remain the largest segment of the market during the forecast period. The density of titanium is 40% less than that of steel- or nickel-based alloys yielding a remarkable weight advantage for aerospace structures. It is a desirable material for high-performance metal tubes owing to their tensile strength (better than that of austenitic or ferritic stainless steels), strength, stiffness, and toughness along with high melting point. Owing to their massive array of advantages, titanium and nickel are gaining traction in the aerospace industry.

    Regional Analysis

    In terms of regions, North America is expected to remain the largest market for aerospace tubes during the forecast period. The USA is the growth engine of the region’s market with the presence of major aircraft OEMs, tier players, raw material suppliers, and part fabricators. Most of the tube suppliers have their presence in the region to address the emergent needs of OEMs and to be the partner for their upcoming aircraft programs or upcoming fuel-efficient variants of existing aircraft programs.

    Asia-Pacific is likely to recoup at the fastest rate, witnessing the highest growth during the same period. The highest growth of Asia-Pacific is mainly attributable to the 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 market for aerospace tubes is gradually consolidating as the major companies are performing mergers & acquisitions to quickly gain the leading position and to tap growing opportunities in this briskly expanding market. For instance; AMETEK, Inc., a leading global supplier of tubes for a wide range of industries, acquired Global Tubes and FMH Aerospace. After the acquisition, AMETEK, Inc. successfully leaped ahead in the market with the added capabilities and expansion of its product portfolio.

    The supply chain of this market comprises several nodes including raw material suppliers, tube manufacturers, tube and duct assemblers, tier players, aircraft and engine OEMs, airlines, aircraft leasing companies, and MRO companies.

    The key players in the aerospace tubes market are-

    • AMETEK, Inc.
    • Leggett & Platt, Inc.
    • Haynes International, Inc.
    • Sandvik AB
    • Plymouth Tube Co.
    • VSMPO-AVISMA Corporation
    • Senior plc
    • Kaiser Aluminum
    • Constellium SE
    • Arconic Corporation.

    The development of lightweight tubes for critical applications, expansion in untapped and growing markets, and execution of mergers & acquisitions are the key strategies 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 aerospace tubes market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our aerospace hoses and tube assemblies market report from the industry stakeholders, we have tried to further accentuate our research scope to the aerospace tubes market in order to provide the most crystal-clear picture of the market. 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 aerospace tubes market is segmented into the following categories. 

    Aerospace Tubes Market Size, Share & Forecast, by Platform Type

    • Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • UAV (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Spacecraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tubes Market Size, Share & Forecast, by Material Type

    • Titanium & Alloys
    • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • (Grade Type Analysis: Ti-6Al-4V, Ti-3Al-2.5V, Commercially Pure, and Others)
    • Nickel & Alloys
    • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • (Grade Type Analysis: Waspaloy, Inconel 625, Inconel 718, and Others)
    • Steel & Alloys
    • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • {Grade Type Analysis: 320 Series (304/304L, 321, and Others), 21-6-9, and Others}
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tubes Market Size, Share & Forecast, by Sales Channel Type

    • Direct Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Distributor Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Aerospace Tubes Market Size, Share & Forecast, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, 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 [email protected]

    Frequently Asked Questions (FAQs)

    The aerospace tubes market size is expected to reach US$ 0.9 Billion in the foreseeable future.

    AMETEK, Inc., Leggett & Platt, Inc., Haynes International, Inc., Sandvik AB, Plymouth Tube Co., VSMPO-AVISMA Corporation, Senior plc, Kaiser Aluminum, Constellium SE, Arconic Corporation are among the key players in the aerospace tubes market.

    The aerospace tubes market is expected to witness an impressive growth of 8.0% CAGR in the coming years.

    North America is expected to be the largest aerospace tubes market during the forecast period.

    Commercial aircraft is expected to be the fastest growing platform type in the aerospace tubes market in the coming years.

    Titanium & alloys are expected to remain the largest segment in the aerospace tubes market during the next five years.

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