Market Overview:
The global aerospace drive belts market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for commercial and military aircraft across the globe. Additionally, factors such as rising disposable income and technological advancements are also contributing to the growth of this market. Based on type, timing belts accounted for a major share of the global aerospace drive belts market in 2017. This segment is projected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030 due to its high durability and resistance against wear and tear as compared with other types of drive belts available in the market.
Product Definition:
Aerospace Drive Belts are used in many different applications throughout the aerospace industry. They are typically made from a rubber or plastic compound and are used to power various mechanisms in an aircraft or spacecraft. The importance of Aerospace Drive Belts is that they provide a reliable and efficient means of transmitting power from one component to another.
Timing Belts:
By product, Timing Belts are segmented into Fixed, Rotating and Fluid-driven. The timing belt is a key component in any power driven mechanism. It provides the necessary periodic maintenance required for keeping the system running smoothly by ensuring that all components operate at their proper frequency.
The aerospace industry has been witnessing significant growth over the past few years on account of increasing air passenger traffic coupled with rising defense expenditure across major economies such as India, China.
Open-Ended Belts:
Open-ended belts are also known as open-end drive belts or simply end belts. They have a continuous, unidirectional stretch and no cross-over rollers like V Belts do. End Belt is used in place of conventional Flat Belts for various applications such as cranes, conveyor drives & pulleys, machine guards & idlers and others where high flexibility is required.
Application Insights:
The military aerospace application segment led the market and accounted for more than 45.0% share of the global revenue in 2017. The growth is attributed to increasing defense expenditure by countries such as U.S., China, Russia, Saudi Arabia, and France on account of security concerns regarding terrorism. Furthermore, growing emphasis on reducing aircraft weight to increase fuel efficiency is likely to drive demand for ADB over the forecast period.
Commercial aerospace includes passenger travel and transportation of cargo/goods by air among other applications such as business aviation or air taxiing at airports that require precision in positioning equipment or machinery on an aircraft with a high degree of safety.
Regional Analysis:
The market in the Asia Pacific and Middle East & Africa is anticipated to grow at a significant rate over the forecast period. The growth can be attributed to increasing military spending by countries such as China, India, Pakistan and others. For instance, according to IISS 2017 publication, China’s defense budget increased by 11% in 2016-2017 fiscal year which is estimated to reach USD X billion. This will create a positive impact on the overall aerospace drive belts industry over the next eight years.
North America accounted for more than 25% of global revenue share in 2017 owing to high demand from various end-use industries such as aerospace and defense coupled with stringent government regulations regarding energy consumption per aircraft operated (Watts). In addition, growing environmental concerns have resulted into shifting preference towards eco-friendly products thus positively impacting market growth over next eight years.
Growth Factors:
- Increasing demand for aircrafts in the commercial and defense sectors is expected to drive the aerospace drive belts market growth.
- The increasing adoption of electric vehicles is also anticipated to fuel the demand for aerospace drive belts over the forecast period.
- Growing investments in research and development activities for new technologies is projected to create opportunities for market growth.
- The increasing trend of miniaturization across various industries is expected to propel the demand for smaller and lighter weight aerospace drive belts over the forecast period .
Scope Of The Report
Report Attributes
Report Details
Report Title
Aerospace Drive Belts Market Research Report
By Type
Timing Belts, Open-Ended Belts, V-Ribbed Belts
By Application
Military Aerospace, Commercial Aerospace, Others
By Companies
Continental, Hutchinson, McFarlane Aviation, Continental
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
131
Number of Tables & Figures
92
Customization Available
Yes, the report can be customized as per your need.
Global Aerospace Drive Belts Market Report Segments:
The global Aerospace Drive Belts market is segmented on the basis of:
Types
Timing Belts, Open-Ended Belts, V-Ribbed Belts
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Military Aerospace, Commercial Aerospace, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Continental
- Hutchinson
- McFarlane Aviation
- Continental
Highlights of The Aerospace Drive Belts Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Timing Belts
- Open-Ended Belts
- V-Ribbed Belts
- By Application:
- Military Aerospace
- Commercial Aerospace
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aerospace Drive Belts Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aerospace Drive Belts are a type of belt that is used in aircraft to transfer power from the engine to the propeller.
Some of the major companies in the aerospace drive belts market are Continental, Hutchinson, McFarlane Aviation, Continental.
The aerospace drive belts market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aerospace Drive Belts Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Aerospace Drive Belts Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Aerospace Drive Belts Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Aerospace Drive Belts Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Aerospace Drive Belts Market Size & Forecast, 2018-2028 4.5.1 Aerospace Drive Belts Market Size and Y-o-Y Growth 4.5.2 Aerospace Drive Belts Market Absolute $ Opportunity
Chapter 5 Global Aerospace Drive Belts Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Aerospace Drive Belts Market Size Forecast by Type
5.2.1 Timing Belts
5.2.2 Open-Ended Belts
5.2.3 V-Ribbed Belts
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Aerospace Drive Belts Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Aerospace Drive Belts Market Size Forecast by Applications
6.2.1 Military Aerospace
6.2.2 Commercial Aerospace
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aerospace Drive Belts Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aerospace Drive Belts Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Aerospace Drive Belts Analysis and Forecast
9.1 Introduction
9.2 North America Aerospace Drive Belts Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Aerospace Drive Belts Market Size Forecast by Type
9.6.1 Timing Belts
9.6.2 Open-Ended Belts
9.6.3 V-Ribbed Belts
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Aerospace Drive Belts Market Size Forecast by Applications
9.10.1 Military Aerospace
9.10.2 Commercial Aerospace
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Aerospace Drive Belts Analysis and Forecast
10.1 Introduction
10.2 Europe Aerospace Drive Belts Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Aerospace Drive Belts Market Size Forecast by Type
10.6.1 Timing Belts
10.6.2 Open-Ended Belts
10.6.3 V-Ribbed Belts
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Aerospace Drive Belts Market Size Forecast by Applications
10.10.1 Military Aerospace
10.10.2 Commercial Aerospace
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Aerospace Drive Belts Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Aerospace Drive Belts Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Aerospace Drive Belts Market Size Forecast by Type
11.6.1 Timing Belts
11.6.2 Open-Ended Belts
11.6.3 V-Ribbed Belts
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Aerospace Drive Belts Market Size Forecast by Applications
11.10.1 Military Aerospace
11.10.2 Commercial Aerospace
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Aerospace Drive Belts Analysis and Forecast
12.1 Introduction
12.2 Latin America Aerospace Drive Belts Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Aerospace Drive Belts Market Size Forecast by Type
12.6.1 Timing Belts
12.6.2 Open-Ended Belts
12.6.3 V-Ribbed Belts
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Aerospace Drive Belts Market Size Forecast by Applications
12.10.1 Military Aerospace
12.10.2 Commercial Aerospace
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Aerospace Drive Belts Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Aerospace Drive Belts Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Aerospace Drive Belts Market Size Forecast by Type
13.6.1 Timing Belts
13.6.2 Open-Ended Belts
13.6.3 V-Ribbed Belts
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Aerospace Drive Belts Market Size Forecast by Applications
13.10.1 Military Aerospace
13.10.2 Commercial Aerospace
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aerospace Drive Belts Market: Competitive Dashboard
14.2 Global Aerospace Drive Belts Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Continental
14.3.2 Hutchinson
14.3.3 McFarlane Aviation
14.3.4 Continental