(MENAFN- America News Hour) The global ozone converter market is segmented by application into narrow-body aircraft, wide-body aircraft, and regional jet. Among these segments, wide-body aircraft segment is projected to grow at remarkable pace over the forecast period. The growth of wide-body aircraft segment can be attributed to rising need for aircrafts with larger capacity on high-density short-haul routes. Apart from this, less turnaround times and low additional expenses associated with narrow body aircrafts are expected to drive the growth of narrow-body aircraft segment over the forecast period.
Recent report published by research nester titled “Ozone Converter Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global ozone converter market in terms of market segmentation by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
Global ozone converter market is expected to register a notable CAGR over the forecast period. Rising passenger safety concerns amongst aircraft manufactures is a key factor which is expected to augment the growth of global ozone converter market over the forecast period. Furthermore, growing aviation industry across the globe is a major factor which is expected to fuel the demand for ozone converter globally.
The North America ozone converter market dominated the global ozone converter market in previous years. Highest domestic air passenger traffic in U.S. is a major factor which is expected to drive the growth of ozone converter market in North America region over the forecast period. Apart from this, Asia Pacific region is expected to emerge as a fastest growing market of ozone converter in upcoming years.
Increasing number of aircrafts and strengthening regional aircrafts are key factors which are expected to bolster the growth of Asia Pacific ozone converter market over the forecast period.
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Growing Aviation Industry
The demand for new aircrafts is increasing globally. Further, governments in both developing and developed countries are strengthening their air transport sector. Rapid globalization is a major factor which is augmenting the growth of market aviation industry which in turn expected to escalate the growth of ozone converter market in near future.
Rising Air Traffic
With the increase in global business and tourism activities the air traffic is increasing across all regions. Further, this factor is anticipated to bolster the growth of global ozone converter market over the forecast period. Further, increasing order for new aircrafts is also a major factor which is expected to bolster the growth of market in future. For instance, India has recently ordered 1000 commercial passenger planes and this action has made India 3rd largest buyer of commercial passenger planes.
However, sluggish growth of airlines industry in underdeveloped countries is likely to inhibit the growth of the ozone converter market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global ozone converter market which includes company profiling: BASF SE, Newport Corporation, Honeywell International Inc., LIMCO Airepair, Inc., Softal Corona & Plasma GmbH, MSM Aerospace Fabrication and UTC Aerospace Systems.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ozone converter market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
The Final Report will cover the impact analysis of COVID-19 on this industry @
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