Global aircraft de-icing market is expected to secure approximately US $1,571.1 million by the year 2026, demonstrating a CAGR of 6.1 percent during the projected period, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2026.
The burgeoning instances of flight delays due to snow accumulation in winters, coupled with rising safety concerns are the key propellers for the aircraft de-icing market growth. The massive upsurge in air traffic around the world and stringent regulations regarding aircraft operations are adding positive momentum to market development. Highly efficient aircraft de-icing solutions are in high demand due to the growing need for offering a safe & comfortable traveling experience to passengers. In the ensuing years, the worldwide aircraft de-icing industry is expected to witness plenteous growth prospects on account of new emerging markets, modernization of old airports, growing number of regulatory mandates, as well as technological enhancements, cites the report.
Speaking of the product spectrum, the global aircraft de-icing space is bifurcated into sweepers, de-icing chemicals & fluids, de-icing trucks, and others. The global market is segmented into two major end-user segments, namely commercial aircraft and military aircraft. The study claims that the commercial aircraft segment became the frontrunner of the global aircraft de-icing market in terms of revenue, in the year 2018.
According to the report, depending on the fluid type, the global aircraft de-icing market is fragmented into Type-I, Type-II, Type-III, and Type-IV fluids. Type-I de-icing fluids are basically water & glycol mixtures possessing a minimum glycol content of 80 percent. They are said to have a corrosion inhibition package and provide limited protection against further icing from freezing precipitation. These fluids are generally employed in combination with the Type-II or Type-IV fluids that forms a two-step de-icing process. For the record, Type-II fluids are known to contain a minimum of 50 percent glycol and comprise of a pseudoplastic thickener system which offers extra protection to the aircraft against re-freezing due to their film-forming characteristics.
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The latest global aircraft de-icing market research report entails an exhaustive analysis of the key market drivers, present dynamics, as well as predicts future trends, and further involves deep inspection of market restraints and opportunities. Additionally, the report includes a thorough industry analysis demonstrating Porter’s five forces – degree of competition, bargaining power of supplier, bargaining power of buyer, threat of substitute, and threat of new entrant.
Based on the findings of the report, North America, in the year 2017, held the biggest market share in the aircraft de-icing market across the globe. Severe weather conditions during winters, huge investment in research & development, and technological developments are the leading driving factors for regional growth. The enforcement of numerous norms regarding aircraft operation & safety, in conjunction with escalating air traffic, has further boosted regional growth. North America market is witnessing augmented demand for aircraft de-icing solutions, given the growing concerns regarding safety, technological enhancements, and modernization of old airports.
The report has profiled noted companies taking part in the broad competitive gamut of the global aircraft de-icing market. The leading market players include The Dow Chemical Company, Weihai Guangtai Airport Equipment Co., BASF Corporation, UTC Aerospace Systems, Global Ground Support, LLC, Vestergaard Company A/S, Clariant AG, B/E Aerospace Inc., Honeywell International Inc., and Kilfrost Corporation. These companies are acquiring other renowned companies in a bid to enhance and expand their product offerings. They have consistently been innovating & introducing new products, looking to cater to the burgeoning needs of consumers.