Aerospace drive belts are extensively used in generators and alternators of aircraft engines. Aerospace drive belts, which are manufactured by the companies, are used by the general purpose aviation industry. Growth in outbound tourism from China and other nations will propel the aerospace drive belts market in the estimated timeframe. With air travel in emerging economies gaining a boom, the demand for repair and operation services and aircraft engine maintenance will boost, thereby propelling the market’s growth across the globe.
Almost one-third of freighters and passenger aircrafts demand for replacement of existing aircrafts with the new ones. This is likely to boost the demand for aerospace drive belts market across the globe. Expansion of commercial aircraft fleet will also facilitate growth in the drive belts market globally. Moreover, microeconomic factors such as high competition and low fuel prices are likely to supplement the demand for new aircraft fleet, thereby contributing to the market growth in the foreseeable future.
Corporate profits and general economic growth are some of the major factors influencing the demand for aircrafts, thereby surging the need for aircraft drive belts across the globe. On the contrary, economic crisis due to low energy prices may slow down the pace of aviation sector, thereby dampening the entire aerospace drive belts market in the foreseeable future. The aerospace drive belts with V-shape are highly preferred due to their excellent grip properties and increased power transmission abilities. Thereby, the surging demand for V-shaped drive belts in the aerospace sector will create new opportunities for the global market in the foreseeable future. Moreover, manufacturers are likely to develop aircraft belts with light body designs and which are more reliable. These factors are estimated to contribute to the market growth in the coming years.
The aerospace drive belts market has been segmented on the basis of type and application.
By type, the aerospace drive belts market is segmented into open-ended belts, timing belts, and V and V-ribbed belts. Of these, the V and V-ribbed belts are highly preferred in the aviation industry mainly due to its excellent grip properties and high power transmission abilities.
The application segment of aerospace drive belts market is segmented into commercial aerospace, military aerospace, and others.
Geographically, the aerospace drive belts market spans across Europe, North America, Japan, China, India, and Southeast Asia.
Considering the global scenario, the Asia Pacific and North America are likely to dominate the aerospace drive belts market share, in terms of new aircraft deliveries. Aviation growth in the economies of Europe is slower than the emerging countries. The region’s heavy installed base of airlines contributes to the substantial demand for the replacement of spare parts and MRO activities.
The aerospace drive belts market in Latin America will register substantial growth due to marginal demand for business jets in the region. ASEAN countries are highly driven by businesses with international global supply chains. The business scenario in Japan is considered to register a stable growth, thus the volume of business flights will increase slightly.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
13 Research Findings and Conclusion
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