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 Aerospace Vibration and Noise Control System Market.
It was estimated prior to this unanticipated outbreak that the Aerospace Vibration and Noise Control System Market will reach the market value of US$ 1.4 billion in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
The industry was expected to rebound from these factors by the first half of the year 2020 but fell in the grip of the COVID-19. The impact of COVID-19 has been the maximum in the aerospace industry. All the major economies are halting the production of their assembly plants as well as airlines are delaying receiving the new aircraft deliveries. Halt in the production facility of Airbus in France and Italy; Rafale production halts in France, and extension in the certification of the B737 Max due to pandemic situation in the world are graving the industry health in 2020. The impact of COVID-19 is anticipated to be graver than the SARS which outbroke in 2003. In March 2020, IATA (International Air Transport Association), a trade group, projected a possible hit of US$ 113 billion to the worldwide revenue for the airline industry in the ‘Extensive Spread’ scenario.
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Platform Type Segment
The market is segmented into fixed-wing aircraft, rotary-wing aircraft, and spacecraft. Fixed-wing aircraft is further segmented into commercial aircraft, regional aircraft, general aviation, and military aircraft. Fixed-wing aircraft is expected to remain the largest segment of the market during the forecast period. The year 2020 seems to be tough, owing to a host of factors such as the grounding of the B737max, the impact of the Covid-19 outbreak leading to the grounding of flights and halt of production in China, France, and Italy, increase in tariffs on Airbus aircraft by the USA, and the US-China trade war. However, the long-term outlook still seems positive with ample opportunities for the market participants.
System Type Segment
The market is segmented into active control system and passive control system. Active control system is further bifurcated into hardware and software in which hardware is again into sensors, actuators, controllers, and communication system. Analogously, passive control system is broken down into isolators, dampers, and bearings & others. During the forecast period, passive control system is expected to remain the larger segment, whereas active control system is expected to remain the faster-growing system type. Passive control systems are used to reduce the vibration and noise in the mid- and high-frequency range by making the structure stiffer or via the addition of dampers in proper locations. They are used in a wide array of applications including avionics, aeroengine and its accessories such as fuel controls, pressure sensors, and oil coolers.
Region Wise Segment
North America is projected to remain the largest market during the forecast period, whereas Asia-Pacific is expected to remain the fastest-growing market during the same period. The USA is to maintain its unassailable lead in the market in years to come. However, the recent outbreak of the Covid-19 outbreak in the USA is somehow denting its leadership. It is also anticipated that the shock wave of COVID-19 would be least in the USA as compared to the major European and Asian economies, such as China, Italy, the UK, and France, where COVID-19 is brutally devastating and compelling the governments to lock down the countries, ceasing the entire economy.
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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.
Based on the research, a proper report is crafted with the following key features:
- 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
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