PUBLISHER: The Business Research Company | PRODUCT CODE: 1413953
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413953
“Aerospace Nanotechnology Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aerospace nanotechnology market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aerospace nanotechnology? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aerospace nanotechnology market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Nanotechnology involves the study of extremely small entities, operating at the nanoscale, typically ranging from 1 to 100 nanometers. The application of nanotechnology in the field of aerospace is known as aerospace nanotechnology, primarily employed in the development of sensors for aircraft. These sensors play a crucial role in evaluating the performance of different engine components, and having a greater number of smaller sensors facilitates the monitoring of various parameters in an aircraft.
Aerospace nanotechnology encompasses various types, with nanoparticles and nanocoatings being the primary ones. Nanoparticles are minute particles with one dimension measuring less than 100 nm. The materials utilized in aerospace nanotechnology include alloys, ceramics, composites, and polymers, serving diverse applications such as space and defense, as well as commercial aviation.
The aerospace nanotechnology market research report is one of a series of new reports from The Business Research Company 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.
The aerospace nanotechnology market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The expansion observed in the historical period can be ascribed to advancements in lightweight materials, the augmentation of structural strength, achievements in fuel efficiency and emission reduction, the miniaturization of components, enhanced thermal management, and the introduction of innovations in nanosensors.
The aerospace nanotechnology market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated expansion in the forecast period can be credited to the utilization of nanomaterials for next-generation aircraft, a heightened adoption of nanoelectronics, increased applications in space exploration, advancements in propulsion systems, and the integration of smart materials for adaptive structures. Notable trends expected in the forecast period encompass developments in advanced coatings and surface treatments, enhancements in structural materials, advancements in nano-electronics and sensors, improvements in fuel efficiency and engine performance, as well as the growing applications of nanotechnology in space exploration.
The robust expansion of the aviation sector is poised to drive the growth of the aerospace nanotechnology market in the foreseeable future. The aviation sector encompasses private or public companies engaged in various aspects of the aviation or aerospace industry, including hardware and software production, maintenance, repair, and overhaul, provision of parts, research and development in aviation or aerospace technology systems, as well as instruction and training of aviation or aerospace personnel. In this context, aerospace nanotechnology plays a crucial role by offering lightweight solutions, enhancing aircraft protection from harsh materials, and incorporating sensors for monitoring fuel, temperature, and engines. For example, in 2022, as reported by the International Air Transport Association (IATA), a Canada-based trade association for the world's airlines, the total commercial airline revenue reached $506 billion in 2021, reflecting a significant 32.4% increase from 2020. By 2027, this figure grew further to $727 billion, representing a substantial 43.6% growth from the preceding year. Consequently, the robust growth of the aviation sector serves as a catalyst for the aerospace nanotechnology market.
The upsurge in satellite deployment is anticipated to contribute significantly to the expansion of the aerospace nanotechnology market. Satellite deployment involves the placement of satellites into their designated orbits or positions in outer space, typically achieved through rocket launches. Aerospace nanotechnology optimizes materials and components at the nanoscale, leading to improved satellite performance, reduced weight, and increased overall efficiency in space missions. As reported by Pixalytics Ltd., a UK-based earth observation company, the number of individual satellites orbiting the Earth reached 11,330 at the end of June 2023, indicating a substantial 37.94% increase since January 2022. This surge in satellite deployment is a key driver for the aerospace nanotechnology market.
Major players in the aerospace nanotechnology market are directing their efforts towards the development of advanced systems, utilizing technologies such as X-ray nanotechnology, with the aim of transforming the airport security experience. X-ray nanotechnology involves the application of nanoscale materials and techniques within the realm of X-ray technology. Illustratively, in June 2022, Thales Group, a leading provider of smart technologies based in France, introduced HELIXVIEW, an innovative Cabin Baggage Explosive Detection System (EDS CB). This system harnesses X-ray nanotechnology, 3D imaging, and Artificial Intelligence (AI) to facilitate efficient security screening at airports. HELIXVIEW, as a compact and lightweight C3-compliant scanner, eliminates the need for passengers to remove items from their luggage, streamlining the security process. Anticipated to receive certification by the end of 2023, HELIXVIEW enhances threat detection by identifying prohibited items, including explosives and weapons, providing instantaneous threat/no-threat instructions to operators.
Major companies in the aerospace nanotechnology sector are adopting strategic collaboration approaches to capitalize on complementary strengths and mutual benefits. Strategic collaboration involves partnerships or cooperative arrangements between entities, typically organizations, with a shared objective of achieving mutual gains, often involving the exchange of resources, expertise, or capabilities. For instance, in June 2023, Honeywell, a prominent US-based advanced technology company, and Lockheed Martin entered into a Memorandum of Understanding (MOU) at the IDET in Brno, Czech Republic. This collaboration aims to identify growth opportunities in the Czech defense sector, emphasizing the localization of support, reduction of turnaround time, enhancement of aircraft availability, and promotion of local investment and job creation. This collaboration represents a significant expansion for Honeywell in the F-35 Lightning II platform and reinforces the existing partnership between the two companies. Lockheed Martin, a US-based security and aerospace company, has revealed plans to integrate structural nanocomposites into the mass production of the F-35 Lightning II, marking a notable advancement in aerospace nanotechnology.
In October 2021, Meta Materials Inc., a United States-based producer of high-performance functional materials and nanocomposites, successfully completed the acquisition of Nanotech Security Corp. for a total sum of $68.02 million (C$90.9 million). This strategic acquisition positions Meta Materials Inc. to offer its partners an enhanced portfolio characterized by top-notch quality, extensive expertise, mass customization capabilities, and access to new business opportunities across diverse sectors. These sectors include but are not limited to automotive, security, healthcare, aerospace, energy, and consumer electronics. Nanotech Security Corp., the acquired Canadian company, specializes in the manufacturing of nano-optic structures and color-shifting materials.
Major companies operating in the aerospace nanotechnology market report are Airbus SE, CHOOSE NanoTech Corporation, Flight Shield Inc., Glonatech S.A., HR ToughGuard LLC, Lockheed Martin Corporation, Metamaterial Technologies Inc., TripleO Performance Solution Ltd., Zyvex Corp., Huntsman International LLC, Nanotechnology Company Glonatech SA, General Nano LLC, Raymor Industries Inc., Boeing Company, Northrop Grumman Corporation, General Electric Company, Rolls-Royce Holdings plc, Safran S.A., Raytheon Technologies Corporation, Honeywell International Inc., BAE Systems plc, Thales Group, Leonardo S.p.A., Saab AB, Israel Aerospace Industries Ltd., Dassault Aviation SA, AeroVironment Inc., Mitsubishi Heavy Industries Ltd., Ruag Group, Reaction Engines Ltd.
North America was the largest region in the aerospace nanotechnology market in 2023. The regions covered in the aerospace nanotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aerospace nanotechnology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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.
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.