Aerospace Adhesives and Sealants Market to Climb 5%
The global aerospace adhesives and sealants market is projected to grow from $775 million in 2018 to $1.008 billion by 2023.
The global aerospace adhesives and sealants market is projected to grow from $775 million in 2018 to $1.008 billion by 2023, at a compound annual growth rate (CAGR) of 5.4%, according to the a recent report from Markets and Markets.
Aerospace adhesives and sealants are used in end-use industries such as commercial, military, and general aviation; the commercial segment is the largest end-use industry. The current surge in demand for commercial aircraft globally reportedly bodes well for leading OEMs and their suppliers. Boeing and Airbus presently have combined orders of over 9,000 commercial aircraft; this demand drives the market of aerospace adhesives and sealants in the commercial end-use industry, according to the report.