New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aerospace Nanotechnology Global Market Report 2023" - https://www.reportlinker.com/p06466564/?utm_source=GNW
, TripleO Performance Solution Ltd., Zyvex Corp., Huntsman International LLC, Nanotechnology Company Glonatech SA, General Nano LLC and Raymor Industries Inc.
The global aerospace nanotechnology market is expected to grow from $4.06 billion in 2022 to $4.31 billion in 2023 at a compound annual growth rate (CAGR) of 6.25%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aerospace nanotechnology market is expected to reach $5.64 billion in 2027 at a CAGR of 6.97%.
The aerospace nanotechnology market consists of sales of carbon nanotubes, nanoclays, nanofibers, and graphene.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Nanotechnology is the process of studying extremely small things; it is a technology conducted at the nanoscale, which is about 1 to 100 nanometres.The use of nanotechnology in aerospace is called aerospace nanotechnology.
Aerospace nanotechnology is used to create sensors in aircraft.Sensors in aircraft are the most crucial part of examining the performance of various parts of engines.
Hence, a larger number of smaller sensors helps monitor various parameters in an aircraft.
North America was the largest region in the aerospace nanotechnology market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of aerospace nanotechnology includes nanoparticles, nanocoating’s and others.Nanoparticles are small particles which have one dimension less than 100 nm.
The different material used to make aerospace nanotechnology are alloys, ceramics, composites, and polymers. They are used in various application such as space and defense, and commercial aviation.
The strong growth of the aviation sector is expected to propel the growth of the aerospace nanotechnology market going forward.The aviation sector refers to a private or public company involved in the production of hardware or software for the aviation or aerospace industry, in maintenance, repair, and overhaul, in the provision of parts to the aviation or aerospace sector, in the study and advancement of aviation or aerospace technology systems, and in the instruction and training of aviation or aerospace personnel.
Aerospace nanotechnology in the aviation sector is useful for lightweight, for enhanced protection of aircraft from harsh materials, and for sensors to monitor fuel, temperature, and engines of aircraft. For instance, in 2022, according to IATA, a Canada-based trade association for the world’s airlines, in 2021 the total commercial airline revenue stood at $ 506 billion which is a 32.4%% increase from 2020, and in 2027 it grew to $727 billion representing a growth of 43.6% from the prior year. Therefore, the strong growth of the aviation sector is driving the aerospace nanotechnology market.
Technological advancements are a key trend gaining popularity in the aerospace nanotechnology market.Major companies operating in the aerospace nanotechnology market are developing innovative technologies to strengthen their position in the market.
For instance, in February 2020, Airbus SE, a European-based aerospace corporation, launched a new robust multilayer nano-barrier that bonds with the CFRP (Carbon Fibre Reinforced Polymers) and eliminates the need for multiple bake-out stages and the controlled storage required in its unprotected state. The thin barrier, measuring only sub-micrometers in thickness compared to the tens of micrometers of current space mission coatings, is less susceptible to stress and contamination at the surface, retaining its integrity even after multiple thermal cycles.
In October 2021, Meta Materials Inc., a producer of high-performance functional materials and nanocomposites based in the United States, finalized the acquisition of Nanotech Security Corp. for $68.02 million (C$90.9 million). This acquisition will provide its partners with the best in quality, depth of expertise, mass customization experience, and new business opportunities in areas such as automotive, security, healthcare, aerospace, energy, and consumer electronics. Nanotech Security Corp. is a Canadian firm that manufactures nano-optic structures and color-shifting materials for use in authentication and brand enhancement applications in a variety of markets.
The countries covered in the aerospace nanotechnology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aerospace nanotechnology market research report is one of a series of new reports that provides aerospace nanotechnology market statistics, including aerospace nanotechnology industry global market size, regional shares, competitors with an aerospace nanotechnology market share, detailed aerospace nanotechnology market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace nanotechnology industry. This aerospace nanotechnology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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