Offshore Decommissioning Market Size, Share, Trend, Forecast, & Industry Analysis – 2022-2028 [news]
May 03, 2023/Industry News Global/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Permanent Magnets Market.
Offshore Decommissioning Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Insights
The offshore decommissioning market is likely to grow from USD 5.04 billion in 2021 to reach USD 8.32 billion by 2028 at a healthy CAGR of 7.4 % during the forecast period
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What is offshore decommissioning?
Offshore Decommissioning is a process that involves clogging of the hole in the earth’s surface and disposal of the equipment used in offshore oil production. The process appertains ten steps, which are project management, engineering, and planning; permitting and regulatory compliance; platform preparation; well plugging and abandonment; conductor removal; mobilization and demobilization of derrick barges; platform removal; pipeline and power cable decommissioning; materials disposal; and site clearance
Segment Analysis
By Service Type
The market is segmented as project management, engineering and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance.
The well-plugging & abandonment segment is estimated to lead the market during the forecast period, driven by demand from the European market. Well-plugging & abandonment holds up to 45% share of the total decommissioning cost of a project.
By Depth Type
The market is segmented into shallow water and deep water. The shallow water segment is estimated to capture the larger share of the market and is projected to maintain its edge over the deepwater segment, owing to its lower operational costs. Regardless, in the future, the deepwater segment would compete with the shallow water segment as many platform installations are now, at deepwater and ultra-deepwater depths.
By Structure Type
The market is segmented into topsides, substructures, and subsea infrastructure. The topsides segment captured the largest share of the market in 2021 and is estimated to maintain its dominance during the forecast period. The growth of the segment is attributed to offshore platforms and decommissioning of topsides and related equipment that need specialized heavy lift vessels and removal equipment.
By Removal Type
The market is segmented into partial, leave-in-place, and complete removal types. The complete removal segment is estimated to lead the market during the forecast period. The growth of the segment is due to the enactment of brassbound regulations for complete offshore platform removal to restore marine life and seafloor to its pre-production conditions.
Regional Analysis
Europe accounts for the largest share of the offshore decommissioning market followed by North America. The European market is also expected to be the fastest-growing market during the forecast period. Factors driving the region’s market are mature oil and gas fields, particularly in the UK and the North Sea. Further, the imminent cessation of production in major oil and gas fields offers lucrative growth opportunities in the European market. North America and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Offshore Decommissioning Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
Offshore Decommissioning Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Insights
The offshore decommissioning market is likely to grow from USD 5.04 billion in 2021 to reach USD 8.32 billion by 2028 at a healthy CAGR of 7.4 % during the forecast period
Request a Sample here: https://www.stratviewresearch.com/Request-Sample/1273/offshore-decommissioning-market.html#form
What is offshore decommissioning?
Offshore Decommissioning is a process that involves clogging of the hole in the earth’s surface and disposal of the equipment used in offshore oil production. The process appertains ten steps, which are project management, engineering, and planning; permitting and regulatory compliance; platform preparation; well plugging and abandonment; conductor removal; mobilization and demobilization of derrick barges; platform removal; pipeline and power cable decommissioning; materials disposal; and site clearance
Segment Analysis
By Service Type
The market is segmented as project management, engineering and planning, permitting and regulatory compliance, platform preparation, well plugging and abandonment, conductor removal, mobilization and demobilization of derrick barges, platform removal, pipeline and power cable decommissioning, materials disposal, and site clearance.
The well-plugging & abandonment segment is estimated to lead the market during the forecast period, driven by demand from the European market. Well-plugging & abandonment holds up to 45% share of the total decommissioning cost of a project.
By Depth Type
The market is segmented into shallow water and deep water. The shallow water segment is estimated to capture the larger share of the market and is projected to maintain its edge over the deepwater segment, owing to its lower operational costs. Regardless, in the future, the deepwater segment would compete with the shallow water segment as many platform installations are now, at deepwater and ultra-deepwater depths.
By Structure Type
The market is segmented into topsides, substructures, and subsea infrastructure. The topsides segment captured the largest share of the market in 2021 and is estimated to maintain its dominance during the forecast period. The growth of the segment is attributed to offshore platforms and decommissioning of topsides and related equipment that need specialized heavy lift vessels and removal equipment.
By Removal Type
The market is segmented into partial, leave-in-place, and complete removal types. The complete removal segment is estimated to lead the market during the forecast period. The growth of the segment is due to the enactment of brassbound regulations for complete offshore platform removal to restore marine life and seafloor to its pre-production conditions.
Regional Analysis
Europe accounts for the largest share of the offshore decommissioning market followed by North America. The European market is also expected to be the fastest-growing market during the forecast period. Factors driving the region’s market are mature oil and gas fields, particularly in the UK and the North Sea. Further, the imminent cessation of production in major oil and gas fields offers lucrative growth opportunities in the European market. North America and Asia-Pacific are also expected to offer considerable growth opportunities during the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Offshore Decommissioning Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
High Voltage Cables Market Market Forecast and Opportunity Assessment till 2028 [Business]
May 03, 2023/Industry News Global/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Permanent Magnets Market.
High Voltage Cables Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Insights
The high voltage cables market is likely to grow from USD 37.5 Billion in 2021 to reach USD 47.7 billion by 2028 at a healthy CAGR of 3.44 % during the forecast period.
Request a Sample here: https://www.stratviewresearch.com/Request-Sample/1185/high-voltage-cables-market.html#form
What is a high voltage cable?
A high-voltage cable (HV cable) is a cable used for electric power transmission at high voltage which is widely used in power transmission utilities and many other industries involved in water, renewable energy, nuclear and thermal power.
Segment Analysis
By Voltage Type
The market is segmented as 50 kV – 110 kV, 115 kV – 330 kV and > 330 kV. The 50 kV – 110 kV segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Retrofitting of small-scale industries and large-scale commercial expansion across developing countries has led to the dominance of the segment.
By Application Type
The high voltage cables market is segmented as utility and industrial. The utility segment leads the market owing to growth in population giving rise to increasing consumption of energy, is a major reason for dominance of this segment.
By Region
North America is estimated to be the largest, whereas Asia-Pacific is likely to be the fastest-growing high voltage cables market during the forecast period. The U.S. Government proposed to invest US$ 10 billion to develop new transmission networks to decrease the curtailment rate. China and India are the key countries of the Asia-Pacific region offering lucrative growth opportunities over the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The High Voltage Cables Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
High Voltage Cables Market Size, Share, Trend, Forecast, & Industry Analysis – 2022-2028
High Voltage Cables Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Market Insights
The high voltage cables market is likely to grow from USD 37.5 Billion in 2021 to reach USD 47.7 billion by 2028 at a healthy CAGR of 3.44 % during the forecast period.
Request a Sample here: https://www.stratviewresearch.com/Request-Sample/1185/high-voltage-cables-market.html#form
What is a high voltage cable?
A high-voltage cable (HV cable) is a cable used for electric power transmission at high voltage which is widely used in power transmission utilities and many other industries involved in water, renewable energy, nuclear and thermal power.
Segment Analysis
By Voltage Type
The market is segmented as 50 kV – 110 kV, 115 kV – 330 kV and > 330 kV. The 50 kV – 110 kV segment held the largest share of the market in 2021 and is expected to remain dominant during the forecast period. Retrofitting of small-scale industries and large-scale commercial expansion across developing countries has led to the dominance of the segment.
By Application Type
The high voltage cables market is segmented as utility and industrial. The utility segment leads the market owing to growth in population giving rise to increasing consumption of energy, is a major reason for dominance of this segment.
By Region
North America is estimated to be the largest, whereas Asia-Pacific is likely to be the fastest-growing high voltage cables market during the forecast period. The U.S. Government proposed to invest US$ 10 billion to develop new transmission networks to decrease the curtailment rate. China and India are the key countries of the Asia-Pacific region offering lucrative growth opportunities over the forecast period.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The High Voltage Cables Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
Contact: Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176
High Voltage Cables Market Size, Share, Trend, Forecast, & Industry Analysis – 2022-2028
Space Electronics Market Expected to Rise at A High CAGR, Driving Robust Sales and Revenue till 2024 [news]
Stratview Research has published a new report titled “Space Electronics Market” which is segmented by Platform Type (Satellite, Launch Vehicle, and Others), by Component Type (Discrete Semiconductors, Optoelectronics, Integrated Circuits, and Others), by Subsystem Type (Electrical Power Subsystem, Attitude & Orbital Control Subsystem, Telemetry, Tracking & Command Subsystem, Communication Subsystem, and Others), by Product Type (Radiation-Hardened and Radiation-Tolerant), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market is projected to reach an estimated value of US$ 1,620.5 million in 2024. The next five years for the space electronics market are going to be attractive with sizeable growth opportunities for both existing as well as new players.
The factors driving the demand for space electronics are noted below.
• Increasing production of satellites, especially small satellites
• Market entry of commercial space companies
• Increasing involvement of several countries in the space community
• Increased demand for reducing the cost of electronic components
• Technological advancements
Space is an extremely hazardous environment with the presence of lethal radiation, micrometeoroids, highly fluctuating temperatures, and man-made debris, which may cause different types of issues for electronic components from simple bit flips to the dangerous complete burnout of electronic systems. The effects produced by the radiation on the space electronics, such as Single Event Effect (SEE) and Total Ionizing Dose (TID), can be rectified by the radiation-hardening process. The process makes the electronic components capable to operate reliably for eons in the harsh space environment but at a very high cost.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Platform Type
The global space electronics market is segmented based on platform type as Satellite, Launch Vehicle, and Others. The satellite segment is expected to remain the growth engine of the global space electronics market during the forecast period of 2019 to 2024.
Increasing participation of commercial space companies, such as Space X, OneWeb Satellites, and Sky and Space Global Ltd, and an expected launch of more than 4,000 satellites during 2018-2023 would propel the demand for electronics in the satellite segment in years to come.
By Component Type
Based on the component type, the space electronics market is segmented as Discrete Semiconductors, Optoelectronics, Integrated Circuits, and Others. Integrated circuits are expected to remain the most dominant component type in the total space electronics market during the forecast period of 2019 to 2024.
Increasing demand for electronics that are smaller in size and lighter in weight and consume lesser power (reduced SWaP), is the driving force of integrated circuits in the total space electronics market.
By Product Type
Based on the product type, the global space electronics market is segmented as Radiation-Hardened Electronics and Radiation-Tolerant Electronics. Both, radiation-hardened as well as radiation-tolerant electronic segments, are likely to grow at healthy growth rates over the next five years; however, the radiation-tolerant segment is likely to witness higher growth during the same period.
Increasing demand for COTS (Commercial-off-the-Shelf) components, drastically lowering launch costs from commercial space companies, and growing demand for small satellites, especially for earth observation, communication, and networking applications are the key whys and wherefores behind the higher growth of the radiation-tolerant space electronics market.
Which Region is expected to remain the largest market?
Based on the regions, North America is expected to remain the largest space electronics market during the forecast period and is also expected to experience the highest growth during the same period.
NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. Furthermore, the market entry of commercial space companies, such as Space X, propel the region’s demand for space electronics in the coming years.
Europe and Asia-Pacific are also likely to offer good growth opportunities in the coming years. India, China, and Russia would be the new growth engines of the European and Asia-Pacific space electronics market in the coming years.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Space Electronics Market:
• BAE Systems Plc.
• Cobham Plc.
• Honeywell International Inc.
• Microsemi Corporation
• Texas Instruments.
Key questions answered by the report.
• What is the projected CAGR for revenue from the Space Electronics Market during the forecast period?
• What would the market be valued at by 2024?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Space Electronics Market?
• Which are the major market players?
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
As per the study, the market is projected to reach an estimated value of US$ 1,620.5 million in 2024. The next five years for the space electronics market are going to be attractive with sizeable growth opportunities for both existing as well as new players.
The factors driving the demand for space electronics are noted below.
• Increasing production of satellites, especially small satellites
• Market entry of commercial space companies
• Increasing involvement of several countries in the space community
• Increased demand for reducing the cost of electronic components
• Technological advancements
Space is an extremely hazardous environment with the presence of lethal radiation, micrometeoroids, highly fluctuating temperatures, and man-made debris, which may cause different types of issues for electronic components from simple bit flips to the dangerous complete burnout of electronic systems. The effects produced by the radiation on the space electronics, such as Single Event Effect (SEE) and Total Ionizing Dose (TID), can be rectified by the radiation-hardening process. The process makes the electronic components capable to operate reliably for eons in the harsh space environment but at a very high cost.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Platform Type
The global space electronics market is segmented based on platform type as Satellite, Launch Vehicle, and Others. The satellite segment is expected to remain the growth engine of the global space electronics market during the forecast period of 2019 to 2024.
Increasing participation of commercial space companies, such as Space X, OneWeb Satellites, and Sky and Space Global Ltd, and an expected launch of more than 4,000 satellites during 2018-2023 would propel the demand for electronics in the satellite segment in years to come.
By Component Type
Based on the component type, the space electronics market is segmented as Discrete Semiconductors, Optoelectronics, Integrated Circuits, and Others. Integrated circuits are expected to remain the most dominant component type in the total space electronics market during the forecast period of 2019 to 2024.
Increasing demand for electronics that are smaller in size and lighter in weight and consume lesser power (reduced SWaP), is the driving force of integrated circuits in the total space electronics market.
By Product Type
Based on the product type, the global space electronics market is segmented as Radiation-Hardened Electronics and Radiation-Tolerant Electronics. Both, radiation-hardened as well as radiation-tolerant electronic segments, are likely to grow at healthy growth rates over the next five years; however, the radiation-tolerant segment is likely to witness higher growth during the same period.
Increasing demand for COTS (Commercial-off-the-Shelf) components, drastically lowering launch costs from commercial space companies, and growing demand for small satellites, especially for earth observation, communication, and networking applications are the key whys and wherefores behind the higher growth of the radiation-tolerant space electronics market.
Which Region is expected to remain the largest market?
Based on the regions, North America is expected to remain the largest space electronics market during the forecast period and is also expected to experience the highest growth during the same period.
NASA is the largest space agency in the world, which is largely involved in space-related activities located in the USA. Furthermore, the market entry of commercial space companies, such as Space X, propel the region’s demand for space electronics in the coming years.
Europe and Asia-Pacific are also likely to offer good growth opportunities in the coming years. India, China, and Russia would be the new growth engines of the European and Asia-Pacific space electronics market in the coming years.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players active in the Space Electronics Market:
• BAE Systems Plc.
• Cobham Plc.
• Honeywell International Inc.
• Microsemi Corporation
• Texas Instruments.
Key questions answered by the report.
• What is the projected CAGR for revenue from the Space Electronics Market during the forecast period?
• What would the market be valued at by 2024?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Space Electronics Market?
• Which are the major market players?
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
Aircraft Fuel Tank Inerting System Market to Witness a Handsome Growth during 2019-2024 [news]
Stratview Research has published a new report titled “Aircraft Fuel Tank Inerting System Market” which is segmented By Platform Type (Commercial Aircraft and Military Aircraft), By Stage Type (Aircraft-based System and Ground-based System), By Method Type (Inert Gas Supply, Ullage Washing, and Fuel Scrubbing), By Technology Type (ASM-based System, Pressure Swing Adsorption, and Others), By End-User Type (OE and Aftermarket), and By Region (North America, Europe, Asia-Pacific, and Rest of The World).
As per the study, the market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 493.6 million in 2024.
A fuel tank inerting system, also known as a flammability reduction system, is a component in the fuel system that protects against fire and explosion in the fuel tank by developing an inert condition within the ullage space of the fuel tank. It is achieved by supplying inert gas, mostly nitrogen, to displace the oxygen in that ullage space of the tank.
The odds of fuel tank fire or explosion are high during aircraft refueling on the ground and in flight. In the case of aircraft refueling, ground-based systems are used for the supply of inert gas to the aircraft when an aircraft is in inactive mode. During the flight, fuel is continuously consumed creating the space for the flammable gases where the fuel tank inerting system converts the bleed air to nitrogen-enriched air (NEA), replacing the flammable gases in the fuel tank.
This reduction of oxygen in the fuel tank prevents combustion, even if a spark is present. The oxygen concentration inside the fuel tank of an aircraft should be less than 11.9% but can vary in the range of 9%-12%. In such types of systems, nitrogen-enriched air (NEA) is supplied at a concentration of 10%-12%.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Platform Type
Based on the platform type, the market is segmented into commercial aircraft and military aircraft. Commercial aircraft are expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft owing to rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment’s market. Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
By Method Type
Based on the method type, the market is segmented into inert gas supply, ullage washing, and fuel scrubbing. Inert gas supply is expected to remain the most preferred choice in the market during the forecast period, driven by its higher penetration in commercial and regional aircraft. Since the development of hollow-fiber membrane air separation technology, an onboard inert gas generating system (OBIGGS) is widely used in the aerospace industry as it eliminates the usage of an inert gas storage system in aircraft.
Which Region is expected to remain the largest market?
In terms of regions, North America is projected to remain the largest market for aerospace fuel tank inerting systems during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. The presence of all major aircraft OEMs, tier players, fuel tank inerting system suppliers, and raw material suppliers is primarily driving the aircraft fuel tank inerting system market in the country.
Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ).
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the Aircraft Fuel Tank Inerting System Market:
• Parker-Hannifin Corporation
• Air Liquide S.A.
• Cobham plc
• Collins Aerospace (UTC)
• Eaton Corporation Inc.
• ESCO Technologies Inc.
• Honeywell International Inc.
• Porvair plc
• Valcor Engineering Corporation
• Zodiac Aerospace (Safran S.A.).
Key questions answered by the report.
• What is the projected CAGR for revenue from the Aircraft Fuel Tank Inerting System Market during the forecast period?
• What would the market be valued at by 2024?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Aircraft Fuel Tank Inerting System Market?
• Which are the major market players?
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirements, please send your inquiry to sales@stratviewresearch.com. Or connect with our experts at +1-313-307-4176.
About Us
Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients insightful market data to aid strategic decision-making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.
As per the study, the market is forecasted to grow at an impressive rate over the next five years to reach an estimated value of US$ 493.6 million in 2024.
A fuel tank inerting system, also known as a flammability reduction system, is a component in the fuel system that protects against fire and explosion in the fuel tank by developing an inert condition within the ullage space of the fuel tank. It is achieved by supplying inert gas, mostly nitrogen, to displace the oxygen in that ullage space of the tank.
The odds of fuel tank fire or explosion are high during aircraft refueling on the ground and in flight. In the case of aircraft refueling, ground-based systems are used for the supply of inert gas to the aircraft when an aircraft is in inactive mode. During the flight, fuel is continuously consumed creating the space for the flammable gases where the fuel tank inerting system converts the bleed air to nitrogen-enriched air (NEA), replacing the flammable gases in the fuel tank.
This reduction of oxygen in the fuel tank prevents combustion, even if a spark is present. The oxygen concentration inside the fuel tank of an aircraft should be less than 11.9% but can vary in the range of 9%-12%. In such types of systems, nitrogen-enriched air (NEA) is supplied at a concentration of 10%-12%.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It provides a thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
By Platform Type
Based on the platform type, the market is segmented into commercial aircraft and military aircraft. Commercial aircraft are expected to remain the larger segment of the market during the forecast period. Increasing deliveries of commercial and regional aircraft owing to rising air passenger traffic, growing demand for fuel-efficient aircraft, and expanding aircraft fleet size are the key growth drivers of the segment’s market. Boeing anticipated that approximately 44,040 commercial and regional aircraft will be delivered from 2019 to 2038. A320 family, B737, B787, and A350XWB would remain the growth engines of the market.
By Method Type
Based on the method type, the market is segmented into inert gas supply, ullage washing, and fuel scrubbing. Inert gas supply is expected to remain the most preferred choice in the market during the forecast period, driven by its higher penetration in commercial and regional aircraft. Since the development of hollow-fiber membrane air separation technology, an onboard inert gas generating system (OBIGGS) is widely used in the aerospace industry as it eliminates the usage of an inert gas storage system in aircraft.
Which Region is expected to remain the largest market?
In terms of regions, North America is projected to remain the largest market for aerospace fuel tank inerting systems during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. The presence of all major aircraft OEMs, tier players, fuel tank inerting system suppliers, and raw material suppliers is primarily driving the aircraft fuel tank inerting system market in the country.
Asia-Pacific is likely to witness the highest growth during the same period, driven by a host of factors including increasing demand for commercial aircraft to support rising passenger traffic, the opening of assembly plants of Boeing and Airbus in China, and upcoming indigenous commercial and regional aircraft (COMAC C919 and Mitsubishi MRJ).
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, which will enable strategic decision-making for the existing market players as well as those willing to enter the market.
The following are the key players active in the Aircraft Fuel Tank Inerting System Market:
• Parker-Hannifin Corporation
• Air Liquide S.A.
• Cobham plc
• Collins Aerospace (UTC)
• Eaton Corporation Inc.
• ESCO Technologies Inc.
• Honeywell International Inc.
• Porvair plc
• Valcor Engineering Corporation
• Zodiac Aerospace (Safran S.A.).
Key questions answered by the report.
• What is the projected CAGR for revenue from the Aircraft Fuel Tank Inerting System Market during the forecast period?
• What would the market be valued at by 2024?
• What is a major driving factor for the growth of the market?
• Which region accounted for the largest revenue share in the Aircraft Fuel Tank Inerting System Market?
• Which are the major market players?
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