DMI segments the Global Thermoplastic Resins Market by geography into – North America, South America, Europe, Asia-Pacific (APAC), and Middle East and Africa.
The aerospace and defense industry serves two main markets: Aerospace and defense, Aerospace which largely comprises the production, sale, and commercial aircraft service. Defense products include military aircraft, helicopters, drones, tanks, and other vehicles, ships, and other marine vessels and their unmanned counterparts.
There are various types of thermoplastic resins such as Polyether ether ketone (PEEK), Polyetherimide (PEI), Polycarbonate (PC), and others are used for the manufacture of aerospace components. This aerospace component includes fuselage, wingtips, tail flaps, landing gear, and others. This has created a conceptual change like essential aspects such as fuselage and wings, enabling aircraft to support the greater load at high speeds and altitudes over a longer time. The use of thermoplastic composites has allowed manufacturers of aircraft to create larger components with fewer moving parts. Various advanced civilian aircraft such as Boeing 787, Airbus A380, and others are among the key examples of the aircraft production shift.
The aerospace and defense industry plays a vital role in advancing the priorities of American national security and boosting our economy. The American aerospace and defense industry's producers, suppliers, and service companies play a major and transformative part in the United States and international market and workforce. For instance, according to The Aerospace Industries Association (United States), In 2018, aerospace and defense contributed more than $374 billion to the US GDP.
The supply chain contributed to a gain of over USD 208 billion from aerospace and defense to GDP in the United States. The United States aerospace and defense industry includes establishments that produce end-use platforms involving civil and military aircraft, rotorcraft, space structures, military vehicles and land systems, naval ships, weapons, and armaments, as well as certain establishments that compose the supply chain of production and services for the sector.
In 2017, AIA introduced firms to the concept of direct-industry companies that provide end-user cyber services. The aerospace and defense industry created a healthy commercial balance of approximately USD 90 billion in 2018. The U.S. aerospace parts manufacturing industry is marked by increasing demand for landing gear and other service equipment, owing to the growing trend of replacing old landing gear with advanced technologies. Furthermore, the increasing market for fixed-wing aircraft is projected to boost production in the United States.
Increasing demand for lightweight, new-generation, and fuel-efficient aircraft, is anticipated to boost growth because of the emphasis on reducing greenhouse emissions. Moreover, increasing emphasis on reducing aircraft's total weight using lightweight parts to improve their energy efficiency is likely to affect market growth positively. Replacing in-service aging aircraft with fuel-efficient aircraft is propelled by increasing energy prices, which accounts for many commercial airline operations.
There are several applications of thermoplastic composites. However, the use of these composites in many applications is not commercially feasible because of the high cost. The production of low-cost thermoplastic composites can increase its consumption in different end-use applications. The development of low-cost technologies is the need of the hour for all research organizations and thermoplastic manufacturers. However, investment in R&D for the development of new technology for producing thermoplastic composites is a major challenge for the market players. Nonetheless, companies are heavily investing in R&D to reduce the overall cost of thermoplastic composites and the end-product manufactured. Some companies are offering thermoplastic composites, which are made using recycled thermoplastics. For instance, Celanese Corporation (US) offers ECO MID POLYAMIDE COMPOUNDS, which is made using recycled PA66 compounds. This product range offers economical solutions to the automotive, consumer goods, and construction industries.
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