Aircraft Band Clamps Market

The aircraft band clamps market holds a great growth rate owing to rise of global aviation industry across the globe.

PORTLAND, OR, UNITED STATES, April 20, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Aircraft Band Clamps Market," The aircraft band clamps market was valued at $190.30 million in 2021, and is estimated to reach $312 million by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/18816

The aircraft band clamps market holds a great growth rate owing to rise of global aviation industry across the globe. In the wake of COVID-19 pandemic and Russia’s war in Ukraine has had a direct impact on the aviation industry, most notable that sanctions prohibit delivery of airplanes in Russia. There will be demand for 40,000 new airplanes in the next 40 years. Furthermore, advancements of aircraft capabilities worldwide have created the demand for modernization and installation of advanced technologies by companies. Hence, the increase in new aircraft and their modernization is expected to open new avenues for the growth of the aircraft band clamp industry during the forecast period.

Asia Pacific dominated the global aircraft band clamps market in terms of growth, followed by North America, Europe, and LAMEA. The U.S. dominated the market share in 2020.

Covid-19 Scenario:

The COVID-19 pandemic had a negative impact on the global aircraft band clamps industry.
Airport traffic and income were significantly impacted by the COVID-19 pandemic. According to ACI, the rapid spread of the virus and the implementation of containment measures by governments, such as staying at home and airport closures led to a 22.9% decline in global air traffic in February and a 53.1% decline in March 2020, leading to a drop in passenger volume of 620 million in the first quarter of 2020.
Owing to a 90% global reduction in passenger travel, April 2020 was an especially challenging month. The grounding of aircraft resulted in a drastic decline of aircraft engines, which also affected the component industries like band clamps.

𝗜𝗻𝘁𝗲𝗿𝗲𝘀𝘁𝗲𝗱 𝘁𝗼 𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝘁𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁? 𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 -https://www.alliedmarketresearch.com/purchase-enquiry/18816

The aircraft band clamp market is segment on the basis of material, application, end use and sales channel. The material segment is divided into aluminum, nickel, titanium, stainless steel and others. The application is classified into airframe and interiors, engine, landing gear and others. The end use segment includes commercial and military. The market within the sales channel segment is divided into OEM and aftermarket. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Factors such as rise in air traffic bolstering the requirement of new aircrafts and increase in aircraft deliveries and rise in inflight passengers across the globe are primary factors supporting market growth. Despite continued headwinds, air travel remains a critical component of the global transport network, enabling not only people but cargo to move efficiently. China’s passenger traffic growth prospects continue to be supported by long-term economic growth (GDP) expectation of 4.3% over the next 20 years.

Metal clamps used today, which can be in the thousands in a single helicopter and in the tens of thousands in commercial aircraft. The electrical wiring management and maintenance is a solution that is seeking to replace the inefficient metal clamps of today that have led to or propagated electrical shorts and wiring chafing, with smart clamp which can sense, monitor, and diagnose electrical wire systems using augmented reality and artificial intelligence. Taking maintenance that takes weeks down to hours. For instance, in August 2021, United Aircraft Technologies, Inc. announced their contract with the U.S. army worth $1.1million, which is going to the development of their technology the interconnecting clamp and the smart interconnecting clamp for future of vertical lift, a defense modernization program aiming to field new helicopter models.

The key players operating in the aircraft band clamp market are TransDigm Group Inc., Teconnex, Eaton, Caillau, Ho-Ho Kus, J&M Products Inc., National Utilities, Pacmet Aerospace, UMPCO, Inc., Clampco Products Inc., Consolidated Aerospace Manufacturing, Destaco, United Aircraft Technologies, Inc., LAS Aerospace Ltd, Click Bond, Inc., Wicks Aircraft Supply and Avionics Mounts Inc.

𝗣𝗿𝗼𝗰𝘂𝗿𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗮𝘁: https://www.alliedmarketresearch.com/aircraft-band-clamps-market/purchase-options

KEY FINDINGS OF THE STUDY

By material, the aluminum segment leads the market during the forecast period.
By application, the engine segment leads the market during the forecast period.
By end use, the military segment is expected to grow at lucrative growth rate during the forecast period (2022-2031).
By sales channel, the OEM segment leads the market during the forecast period.
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

Allied Market Research
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.