Analysis of Wing Walk Tapes Market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to latest research study by Fact.MR, wing walk tapes market is anticipated to grow at a CAGR of over 6.2% during 2021-2031. The demand is led by increasing usage of the product in aviation and defense industry. Wing walk tapes are extensively used by the maintenance staff as a precaution to prevent slippage when working on the aircraft wings.
The market growth is directly depended on the growth of aviation and defense industry. The COVID-19 had minimal impact on the wing walk tapes business, owing to mandatory maintenance of the aircraft which cannot be kept on halt, owing to which the demand for the product was still on go. It is expected that the wing walk tapes business will grow at a rate of 1.4X during 2021-31.
When working on an aero plane or performing activities in the aircraft wings, safety is a top priority. Aviation anti-skid tape, also known as wing walk tape are used on wings, steps, and other surfaces where solid footing is required, providing safety while completing aircraft maintenance tasks. Wing walk tapes add grip to the aircraft’s slick metal surfaces, helps the workers to avoid slips while performing maintenance and related applications.
The adhesive on the tape provides a strong bond and allows for quick applications of this non-skid material on planes. These tapes are usually made of quartz or silica sand particles, which are water and grease resistant. These tapes are simple to use and provide optimal protection. It is made of high-traction, flame-resistant substance. Owing to such myriad benefits the wing walk tapes have high demand in the aviation & defense industry.
Wing walk tape have strong anti-skid property owing to which it can be used on wings, steps or other areas in the aircraft where traction is required. It increases the friction between shoes and the ground’s surface, hence prevent sliding. It can also be used in places where there is a risk of slipping such as oil refineries, automotive and construction industry.
Furthermore, it can be applied on the stairs in aircraft or any other industries as workers are less likely to slip if these tapes are laid on each step, which is very crucial if they are wearing casual’s shoes with little traction on the bottom. Owing to the above-mentioned factors, the anti-skid property of wing walk tapes is anticipated to drive the demand for the product in multiple industries.
The US is a prominent country for wing walk tapes business. From the past half-decade the regional business have been growing at a CAGR of over 4.8%. The aviation industry has been a major end-user of the wing walk tapes in the country. Historically the US aviation industry grew at a CAGR of over 8% owing to higher passenger inclination towards air travel and growth in commercial aircraft business. The country’s wing walk tape business is solely depended on the aviation & defense industry.
Key players in commercial aircrafts business such as Boeing have announced that in the next 15 year there will be a demand for more than 7000 aircrafts in the North America alone. In that the US is anticipated to be the major contributor with a share of more than 40%. This clearly shows that the growth of aviation industry is never ending and so the demand for the wing walk tape. Through these factors it has been anticipated the US wing walk tapes business will grow at a rate of over 1.6X till the end of 2031.
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The Asia Pacific is one of the prominent region in wing walk tapes business. Historically i.e. during 2016-2020 the region accounted for over 35% of the wing walk tape sales, projecting a CAGR of over 5.8%. The demand of the product in the region is attributed to the fact that the end-use industries using this tape are high in number. Countries such as China, India, Taiwan and Vietnam are the key contributors in driving the demand in regional business. In addition, aviation & defense industry is also contributing its role in driving the product sales.
Furthermore, the regional competitive landscape is highly fragmented in nature and so the competition among the players is quiet high may it be from pricing to the quality of the product. Most of the players in the region are committed in practicing organic strategy such as long term collaboration with the end-use industries and supplier of wing walk tapes in order to get new businesses.
The COVID-19 pandemic had significant impact on the regional wing walk tape business for short-term in 2020. The end-use industries of the product were shut owing to imposed lockdown due to high number of covid infection. Despite of all these the region wing walker business has returned to recovery stage due to neutralized cases let partial opening of the lockdowns. The regional market is recovering now and is anticipated to fully recover by the end of Q1 2022.
Some of the leading manufacturers and suppliers are
The wing walk tapes competitive landscape is fragmented in nature. Easy availability of raw materials, lower manufacturing cost and higher profits from the products has led presence of higher number of players in the wing walk tape business. The top players in this business are collaborating with the aviation maintenance companies in order to get continuous demand for their products.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
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The wing walk tapes market worth is likely to grow at 6.2% over the forecast years.
Improving aviation industry is driving the wing walk tapes market growth.
Asia Pacific region is expected to be most lucrative market for wing walk tapes industry players.
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