Aerospace Adhesives Industry - Regional Synopsis
Asia Pacific industry is estimated to hold largest revenue share by 2037, on the back of growing air traffic in countries such as China, India, South Korea and Japan as a result of affordable fares provided by low-cost airlines and increasing production of aircrafts. For instance, China is world’s second largest air travel market in the world. The total air freight traffic in the country was evaluated to be more than 26 billion ton kilometers in 2020. Moreover, North America is predicted to acquire the largest market share throughout the forecast period, which can be credited to the presence of a large aerospace sector in the United States, flourishing manufacture of passenger and commercial aircrafts and growing exports of aerospace components in the region.
