Market Trends of Aerospace Plastics Industry
This section covers the major market trends shaping the Aerospace Plastics Market according to our research experts:
Cabin Applications to Witness Higher Growth During the Forecast Period
The aircraft manufacturing industry is focusing on the reduction of the overall weight of the aircraft while maintaining or even improving its total load-carrying capacity. Thus, the need to design and produce high-performance aircraft within a weight constraint is the main driver for aircraft manufacturers to use lightweight composites in manufacturing. Plastics are used to design and manufacture several cabin components such as air ducts, cabin partitions, floor panels, and overhead luggage bins.
Airlines are focused on maintaining a consistent brand image and capturing the lucrative business traveler consumer segment. Retrofitting activities of old aircraft cabins range from individual seats to entire cabins. Operators are increasingly retrofitting their fleets as cost-effective solutions over procuring new aircraft. Thus, they are striving to achieve the right balance between cost and aesthetics. Such factors drive the adoption of plastics for cabin applications as monetary and safety benefits yielded by plastics render them appropriate for usage in such applications.
North America to Dominate the Market During the Forecast Period
The aerospace industry in the region is mature and strongly supported by a robust aviation base. Higher air traffic has resulted in the procurement of several aircraft by the regional and international airline operators in the region. Boeing, one of the major aircraft OEMs based in the US, generates a huge demand for aerospace-grade plastic for structural as well as cabin components. Brackets, gaskets, guides, seals, spacers, and washers are lightweight aerospace components where high-heat plastics can outperform metals.
Moreover, many airline operators in the region have resorted to cabin upgrade to strategize their market positioning in terms of individual brand identity. On this note, post the acquisition of Virgin America by Alaska Airlines, the latter has initiated a massive cabin retrofitting program to achieve a more uniform look and feel across the entire fleet. Alaska Airlines refurbished the cabins of its 73 Airbus aircraft by 2019. American Airlines, too, has plans to retrofit more than 200 A321ceo aircraft in its fleet with the latest cabin features of the next-generation A321neo. Also, in April 2019, American Airlines initiated scheduled flights of its newly delivered A321neos, that feature an all-new cabin interior design, including the Airspace XL overhead stowage bin. The airline has outstanding orders for 100 A321neo aircraft that are scheduled for delivery during the forecast period.
