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As per Technavio’s global aerospace nanotechnology market research report, the market is expected to grow steadily during the forecast period and post a CAGR of almost 6% by 2021. This industry research report identifies the emergence of carbon nanotube nanocomposites in airframe manufacturing to be one of the major factors that will have a positive impact on the adoption of nanotechnology in aerospace in the coming years. The increased awareness on global warming and climate changes that demand the need to control greenhouse gas emissions is inducing vendors to actively promote measures to reduce the emission of CO2 and energy savings. The need to reduce the consumption of fuel will significantly increase investments in nanotechnology from original equipment manufacturers (OEMs) to adopt the usage of lightweight materials that have high mechanical and multifunctional properties in the design and manufacture of aircrafts, in turn, fueling the aerospace nanotechnology market growth.
One of the major trends that will gain traction in the aerospace nanotechnology market in the coming years is the use of nanotechnology in maritime warfare. To improve the capabilities of submerged and marine combat platforms, the defense sector of countries across the globe will start adopting nanotechnology which will allow developers to design and produce nanosensors that can be scattered in the ocean and used to detect enemy submarines. Additionally, the technology can also be used to produce energetic materials that will positively influence the component manufacturing processes of the defense aerospace industry.
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Characterized by the presence of a number of prominent nanotechnology companies who equally compete to improve their market shares, the aerospace nanotechnology market appears to be highly competitive. Though the market is dominated by the major players, the small vendors will increase their revenue through joint development efforts and will pose a major challenge to the existing prominent vendors. To sustain the competition and improve revenue shares, vendors have the need to offer solutions that are different from the competitors’ and should also focus on maximizing value proposition of services to attract both prime integrators and retrofitting service providers.
The leading vendors in the market are -
The other prominent vendors in the market are CHOOSE NanoTech, General Nano, HR TOUGHGUARD, and Metamaterial Technologies.
During 2016, the space and defense segment accounted for the major shares and dominated the market. The growing importance of nano and micro satellites for various application such as effectual disaster relief operations, wireless communications networks, scientific observations, and global positioning system (GPS) will increase the adoption of nanotechnology for manufacturing nano-sensors, multiwalled carbon nanotubes, and propulsion systems, which will drive the growth of the aerospace nanotechnology market in this segment. Additionally, the use of nanotechnology in the development of radar absorbent structure to ensure greater stealth capability of aircrafts will also aid in the growth of this market segment.
According to this market research and analysis, the Americas was the major revenue contributor to the market during 2016 and will continue its market dominance throughout the predicted period as well. Factors such as the increasing focus of OEMs, engine manufacturers, and other component suppliers to reduce the overall weight of an aircraft and the rise in the usage of miniaturized satellites, will significantly drive the adoption of nanotechnology in aerospace industry in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product category
PART 07: Market segmentation by product type
PART 08: Buying criteria
PART 09: Market segmentation by end-user
PART 10: Geographical segmentation
PART 11: Key leading countries
PART 12: Market drivers
PART 13: Impact of drivers
PART 14: Market challenges
PART 15: Impact of drivers and challenges
PART 16: Market trends
PART 17: Vendor landscape
PART 18: Appendix
PART 19: Explore Technavio
Tags: aerospace industry, silver nanoparticles, aerospace technology, aviation technology, engineering, aerospace nanotechnology market segmentation, aerospace market trends,
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