Global predictive maintenance market is estimated to be valued at US$ 2,123.8 Mn in 2018, up from US$ 1,639.2 Mn in 2017. By 2026, the market is projected to reach US$ 17,700.8 Mn, exhibiting a CAGR of 30.3% over the forecast period (2018–2026). Increasing adoption of predictive maintenance in automotive aftermarket, growing industrial automation, increasing demand for periodic maintenance (for operations, assets, and production) are some major factors contributing in growth of the global predictive maintenance market.

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On the basis of component, the global predictive maintenance market is segmented into solutions and services. On the basis of deployment, the market is segmented into on-premise and cloud. On the basis of application, the market is segmented into asset maintenance, operations maintenance, and health & performance optimization. On the basis of end-use industry, the market is segmented into oil & gas, aerospace & defense, automotive, power generation, hospitals/clinics/diagnostic laboratories, biotechnology/pharmaceutical manufacturers, medical device manufacturers, and shipping.

Manufacturing industries are in constant need for improving performance, reliability, and service management. Data acquisition, monitoring, and analytics aids in achieving better reliability and service management. Data-based predictive models help in boosting performance of manufacturing process and offers improved manufacturing quality. Therefore, such benefits of predictive maintenance increasing its adoption in manufacturing industries. For instance, a global aircraft design and manufacturing company, implemented IoT WoRKS by HCL for predictive maintenance.

Automotive companies use predictive maintenance to collect and monitor real-time data. The collected real-time data is used for gaining insights of the vehicle and engine parts. For instance, in 2017, Mercedes Benz implemented predictive maintenance for real-time data gathering, which allowed the company to acquire data from vehicle when it is being used by the customer. It aids the company to predict any incident or failure regarding the vehicle.

The solution segment held dominant position in the market in 2018

Solution segment held dominant position in the market in 2018 and it is expected to retain its dominance over the forecast period. Emerging economies such as India and China in Asia Pacific are expected to witness significant growth in the solution segment in the predictive maintenance market. This is owing to growing manufacturing sector and increasing industrial automation across various industry verticals in the region such as automotive and aerospace & defense. For instance, according to India Brand Equity Foundation, 2018, the manufacturing sector in India witnessed a CAGR of 4.34% during FY12 and FY18 (as per the second advance estimates of annual national income published by the Government of India).

A basic predictive maintenance solution has a well -designed process model, which includes connected equipment, feature engineering, machine learning, implementation, and prediction. A smart maintenance predictive solution deals with capturing data and offers automated feature generation and optimized predictive model with real-time estimates and outcomes. Moreover, growth of smart maintenance predictive solutions segment is attributed to increasing number of connected assets throughout industrial applications. For instance, according to World Economic Forum, in 2018, less than 20% of assets were connected worldwide and the number is rapidly surging due to increasing automation across various industry verticals.

The U.S. accounted for the largest share in North America and the global predictive maintenance market in 2017, and is projected to retain its dominance during the forecast period. This is owing to increasing investment by major companies to increase profitability and to achieve cost optimization.

In North America predictive maintenance market, the manufacturing segment held dominant position, followed by aerospace & defense, and energy & utilities sector. Key players operating in the North America predictive maintenance market include, Robert Bosch, General Electric, and Rockwell Automation.

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Global Predictive Maintenance Market: Key Players

Major players operating in the global predictive maintenance industry include, Amiral Technologies, Embitel, General Electric, Honeywell International, Inc., IBM Corporation, Microsoft Corporation, Rockwell Automation, Inc., Senseye Ltd., Softweb Solutions, Inc., Warwick Analytics, SAP SE, Robert Bosch GmbH, Software AG and Siemens AG.

Adsorption equipment is utilized to bind atoms, ions, particles, or molecules from a liquid, gas, or broke down strong on to a surface. The adsorption equipment is useful in industrial operations for controlling odor, recuperation of unstable solvents such as ethanol, benzene, trichloroethylene, and drying of procedure gas streams. In other words, adsorption equipment is used to minimize the carbon emissions. The adsorption equipment finds massive applications in perfumes, vehicles, and chemical production process as a result of its ability to avoid the spread of unnecessary gases. Furthermore, adsorption hardware is consolidated into an ecological framework for remediation as well as recovery of polluted water or air streams.

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Regulations Regarding Volatile Organic Compounds (VOCs) Emissions are Impelling the Need for Adsorbent Equipment and Growing Automotive Industry Worldwide are the Factors Driving Growth for the Global Adsorption Equipment Market

Volatile organic compounds (VOCs) are organic chemicals that have a high vapor pressure at ordinary room temperature. Their high vapor pressure results from a low boiling point, which causes large numbers of molecules to evaporate from the liquid or solid form of the compound and enter the surrounding air. Moreover, various government bodies around the globe have ordered stringent guidelines on the outflow of volatile organic compounds (VOCs) from different end-use businesses such as car chemical, paint shop, nourishment and refreshments, pharmaceutical, printing, and semiconductors. This is expected to drive the interest for adsorption gear, which helps keep volatile organic compounds (VOCs) in line. Hence, key vendors are focusing on launching various products related to VOC sensors and monitors. For instance, in October 2017, Alphasense, one of the gas sensor developer and manufacturer based in the UK, has launched a new sensor for the measurement of volatile organic compounds (VOCs). The new p-type Metal Oxide sensor is a broadband total volatile organic compounds (VOCs) detector with a range from 0 to 100 ppm (isobutylene) as well as 10-50 ppb detection limit, depending on the volatile organic compounds (VOCs). However, the accessibility of more affordable options such as fixed-bed adsorbers and fluidized-bed adsorbers, with low establishment and maintenance costs is foreseen to control the worldwide adsorption equipment market among the estimate time frame.

Global Adsorption Equipment Market: Regional Insights

Asia Pacific region is estimated to be the largest adsorption equipment market, as this region comprises some of the fastest developing economies of the world as well as key consumers of adsorption equipment such as India, China, Thailand, Indonesia, and Japan. The business in the Asia Pacific region is primarily driven by stringent government rules for controlling volatile organic compounds (VOC) emissions, which will create lucrative growth opportunities for the adsorption equipment manufacturers. For instance, in February 2015, the Shanghai Environment Protection Bureau created the Emission Standards for Paint, Ink as well as Allied Products Manufacturers to control emissions from factories. This standard will be applied both for existing factories and new factories present in this region. Moreover, Asia Pacific region is a manufacturing base for the chemical, food & beverage, automotive, semiconductor, and pharmaceutical industries where the global adsorption equipment market is expected to gain traction over forecast period.

Furthermore, the North America and Europe are expected to contribute significant growth towards the global adsorption equipment market progression during forecast period. Introduction of new advanced technologies in adsorption equipment in countries such as the U.S., Canada, UK, and Germany will drive growth of global adsorption equipment market in these regions. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), one of the French organization of motor and vehicle manufacturers, vehicle production across the globe has increased by 2.4% as compared to 2016. This in turns, creates the high growth opportunities for the adsorption equipment market globally.

Key Players in the Global Adsorption Equipment Market

Key players operating in the global adsorption equipment market includes, CECO Environmental, Dürr AG, Evoqua Water Technologies LLC, TIGG LLC, Chemisch Thermal Prozesstechnik GmbH (CTP), Taikisha Ltd., ENVIRONMENTAL C & C INC, Gulf Coast Environmental Systems (GCES), Monroe Environmental Corp., Eisenmann SE, NICHEM, MainTech Systems GmbH, and GasServStroy LLP among others.

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Global Adsorption Equipment Market: Taxonomy

By Capacity

• Less than 10,000 CFM
• 10,000-50,000 CFM
• More than 50,000 CFM

By End-User Industry

• Automotive Paints
• Chemical
• Semiconductor
• Printing

Actuators or drives are essential devices that convert energy into physical motion. Actuators are used in robotics and automation applications, as they help to control equipment by using pneumatic, hydraulic or electronic signals. The majority of actuators produce either linear or rotational motion. The robotics part consists of the robotic actuators which are required for industrial robots and the service robots. These robotics and automation actuators are operated by an external source of energy, typically electric current, hydraulic fluid pressure, or pneumatic pressure. The energy from these sources is converted into motion by the actuators. Each actuator type has versions for numerous power configurations and is available in various sizes and types, depending on the application.

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Increasing Investments in Automation across Industry Verticals and Increasing Demand for Industrial Robots as well as Process Automation in the Different Industrial Verticals are the Factors Driving Growth of the Global Robotics and Automation Actuators Market

Increasing investments in automation across industry verticals as well as increasing demand for industrial robots as well as process automation in the different industrial verticals are key factors estimated to drive growth of the global robotics and automation actuators market to a certain extent. For instance, in August 2018, Rockwell Automation received a contract from the National Copper Corporation, Chile to supply control systems for the Chuquicamata underground mine at US$ 50 million. This contract includes the configuration, supply, and assembly of four systems, which comprise mine control systems.

However, the formulation and stringent implementation of various regulations to ensure reduced power consumption & increased the safety is expected to restrain growth of the global robotics and automation actuators market during forecast period.

Moreover, high installation and operational cost of robotics and automation actuators is projected to hamper growth of the global robotics and automation actuators market during the forecast period. Maintenance and operating costs include, an air-line installation and maintenance, replacement cylinder costs, and electricity for the compressor. According to the U.S. Department of Energy, in 2018, around 24% of the annual cost of compressed air is due to cost of equipment, maintenance, and installation, while 76% is due to the cost of electricity for compressor.

Global Robotics and Automation Actuators Market: Regional Insights

On the basis of geography, the global robotics and automation actuators market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The robotic and automation actuators market in Asia Pacific is growing at a significant rate and this trend is expected to continue during the forecast period. Asia Pacific has witnessed rapid economic development in the recent past, resulting in an increase in maritime trade. Electronics and electrical industries in countries such as China and Japan, have led to increase in demand for robotics and automation products and services. This in turn is expected to lead to high demand for robotics and automation actuators.

Furthermore, development of cost-effective and advanced robotics and automation actuators and increasing demand for industrial robots and process automation in different industrial verticals are some of the opportunities impacting growth of the robotics and automation actuators market in Asia Pacific. For instance, in 2017, AV Actuators announced the launch of new 60 Series and 110 Series actuators. This series offers a cost effective entry level model, with features such as manual override, heater, and end of travel limit switches as a standard. These 60 Series and 110 Series actuators will offer on-off functionality along with failsafe option to their customers.

Therefore, key vendors are focused on adopting strategies such as partnership, agreement, contract, and capacity expansion in order to strengthen their market position and increase their product offerings. For instance, in November 2018, ABB, one of the major players in the robotics and automation actuators market, received a contract of US$ 79.0 million from China Petroleum Engineering and Construction Corporation (CPECC) for to upgrade Bab Onshore Field in Abu Dhabi. This contract includes the fully integrated ABB Electrical, Control and Telecommunication (ECT) solution and the centralized automation system, which is expected to reduce the operation cost of the oilfield by 10 – 15%.

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Key Players in the Global Robotics and Automation Actuators Market

Key players operating in the global robotics and automation actuators market include, ABB, Rockwell Automation, Inc., Moog Inc., Curtiss-Wright Corporation, Altra Industrial Motion, SMC Corporation, Festo Group, Harmonic Drive LLC, IAI America, Inc., DVG Automation S.p.A., Misumi Corporation, SKF, Cedrat Technologies, Tolomatic, Inc., Venture MFG Co., Kollmorgen, Macron Dynamics Inc., Nook Industries, Inc., and Rotomation, Inc.

A drone or an unmanned aerial vehicle (UAV) refers to a non-pilot aircraft which comprises of combined technologies such as computer vision, object avoidance technology, and artificial intelligence. Drones have been used for military applications over a decade, such as the Predator UAV. Defense forces are now increasing adoption of small drone/UAV technologies for the purpose of conducting surveillance and reconnaissance during missions, which is expected to drive the market for UAV batteries during the forecast period.

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The military expenditure for drone technologies has been increasing. For instance, the military budget announced by the U.S. government was US$ 583 billion in 2017, which was increased to US$ 640 billion in 2018. This will allow manufacturers of drones, UAVs and their components, higher opportunities to increase their contribution in the market share.

The global UAV battery market is expected to witness significant growth during the forecast period (2018–2026). The market growth is attributed to increasing demand for high performance, long duration flight time UAVs for military applications. Furthermore, as per Coherent Market Insights, growth of the UAV battery market is also propelled by the drone industry growth, whose production was pegged at 2.2 million units in 2016, and is expected to witness high growth during the forecast period (2018-2026).

Increasing production of UAVS for deployment in the militaries across various regions is expected to aid in growth of the market

Increasing UAV production across various countries and regions is leading to high demand for different types of batteries. For instance, according to Worldwide Market Reports’ (WMR) analysis, the global military UAV production reached 3,117 units in 2017. In the UAV market, the U.S. accounted for the largest share of 37.8% by volume, and 41.9% by value, in 2017. Moreover, Asia Pacific accounted for the second largest share in the UAV market in 2017, and is the second largest market for UAV batteries, followed by Europe and the rest of the world. Therefore, increasing production of UAVs across various regions is expected to drive growth of the global UAV battery market.

Increasing defense expenditure by governments is expected to aid growth of the market

Increasing military expenditure by governments across the globe is creating lucrative opportunities for market players in the global UAV battery market. Increasing adoption of UAVs for strengthening defense and military capabilities, is a major factor that is expected to aid the growth of the market. The adoption rate of UAVs is high in North America and Asia Pacific due to high military expenditure in these regions. For instance, according to WMR’s analysis, the U.S. military budget was announced as US$ 583 billion in 2017, which was later increased to US$ 640 billion in 2018. Moreover, the defense budget announced by the government of India in 2017 was US$ 52.5 billion, which increased from US$ 51.1 billion in 2016. Increasing budget for defense and military purposes has led to a high expenditure on UAVs and other related technologies, which is expected to drive growth of the market.

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Some of the key players operating in the Global UAV Battery Market include Ballard Power Systems, Cella Energy Limited, Denchi Power Ltd., EaglePicher Technologies, H3 Dynamics, Kokam, OXIS Energy Ltd., Sion Power Corporation, and Tadiran Batteries GmbH.

The global training market was valued at US$ 94,828.5 Mn in 2017 and is expected to exhibit a CAGR of 6.4% over the forecast period and reach US$ 174,596.6 Mn in 2027. North America accounted for 45.1% of the revenue share in the global training market in 2018. The market in India is expected to grow at a significant rate over the forecast period, followed by rest of Asia Pacific. This growth is attributed to growing adoption of learning management systems across the globe to gain better returns on investment made in talent development, employee training, and other similar programs.

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The Asia Pacific market is witnessing high growth due to increasing demand for cost effective learning management solutions. Moreover, an increase in the number of start-ups operating in the e-learning industry has aided growth of the training market in this region. There has also been a marked shift from traditional methods to technology driven methods in the past few years. For instance, in 2013, Oracle introduced ‘Oracle Learn Cloud 13A’ with advanced training management and delivery features in the Asia Pacific region.

Learning management system segment held dominant position in the market in 2018

Learning management system is a software application, which is used for planning, reporting, tracking, administration, documentation, reporting, implementation, and for accessing training or learning programs. Moreover, a learning management system can help instructors to generate and distribute content, and monitor learner’s performance and progress. A learning management system has application in the higher education sector and corporate sector due to its wide range of functions such as managing and delivering all types of content such as documents and videos; it also contains interactive features such as video conferencing, discussion forums, and threaded discussions. For instance, various learning management systems are available in the market, such as TalentLMS, Canvas LMS, Edmodo, Schoology, Docebo, Litmos LMS, SkyPrep, iSpring Learn, and Brightspace among others.

North America held the dominant position in the Training market in 2017

North America is expected to be the largest market in terms of size during the forecast period, owing to rising demand for effective and quality education in the region. Furthermore, several key players such as SafetySkills and IFP Training that are engaged in providing training to employees, have high presence in this region. The training industry in North America includes both internal and external resources that are employed by key players to train their staff on specific and required skills needed to perform their jobs. The primary factor that is driving demand in the U.S. education LMS sector is the increasing number of universities that offer online education, which in turn is facilitating growth of the training market in the region. However, challenges with proper implementation of learning management systems faced by educational institutions due to budget constraints and lack of expertise, are expected to hamper growth of the market.

Moreover, Europe-based corporations are investing significantly in digitizing training processes, to ensure quicker and convenient delivery of training content to employees. Digitization also helps to overcome restrictions such as adherence to a set time and place of training. Furthermore, many organizations prefer using standardized courses provided by training content developers. For instance, Pearson Education, a U.K. based education publishing and assessment service company, offers IT certification training courses to leading networking, hardware, and software companies such as Microsoft, Oracle, Cisco, and IBM.

The training market in Latin America is expected to witness significant growth in the near future. This growth is majorly attributed to evolution of digitized corporate training in the region that is rapidly replacing conventional training methods. Moreover, increasing number of mobile device users has led to considerable demand for mobile-based training. As per analysis done by Coherent Market Insights, in 2018, the number of mobile users in Latin America was 424 million, and the number increased to 431 million by 2019. Additionally, emergence of novel education programs such as game-based learning to promote online learning via various platforms including social media, is expected to help market players strengthen their footprint in the training market.

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Global Training Market: Key Players

Major players operating in the global training market include Skillsoft Limited, Safety Media, GP Strategies Corp., UL EHS Sustainability, PRYOR Learning Solutions, Raytheon Company, DuPont Sustainable Solutions, 360training.com, Inc., SAP Litmos, Vector Solutions, Global Training Solutions, Inc., Cornerstone onDemand, Petroskills, and Euro Petroleum Consultants Ltd. [EPC].

The aircraft galley is the on-board compact kitchen on air-borne vessel. As galley equipment occupy minimum space and provide optimized facilities of kitchens by utilizing minimum space they are predominantly used on aircrafts. Aircraft galley equipment include various electric and non-electric inserts. Electric insert includes water boilers, coffee makers, beverage makers, chillers, air chillers, dishwasher, food warmers, and refrigeration system. Non- electric insert includes rack, serving pots, tray, trolley, dishes, utensils used for cooking, and trash compactor. Aircraft galley is used for cooking food and storing material related to kitchen. To provide better services to customers, aircraft service providers or manufacturers deploy galleys on aircrafts. These type of galley equipment are available on various type of aircrafts such as narrow-body, wide-body, and very large body.

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Factors driving global aircraft galley equipment market

Increasing activities in manufacturing of aircrafts is one of the factors driving growth of the global aircraft galley equipment market. Increasing sale of aircrafts including Boeing, Airbus, Bombardie, etc. and rising fleet number of various airlines such as American Airlines Delta Air Lines, Southwest Airlines, United Air Lines, FedEx, SkyWest Airlines, JetBlue Airways, and UPS is fueling growth of the global aircraft galley equipment market. For instance, according to AeroWeb, a Forecast International Inc., in 2017, the U.S. commercial aircraft inventory included 7,309 aircrafts, up from 7,130 aircrafts in 2016. In 2016, there were 3,080 Boeing aircrafts available in the U.S and in 2017, the total number of Boeing aircrafts in the U.S. were 3,173. Furthermore, number of Airbus aircrafts increased from 1,327 in 2016 to 1,446 in 2017.

Moreover, increasing demand for narrow-body aircrafts is expected to generate high demand for galley equipment during forecast period. For instance, according to AeroWeb, a Forecast International Inc., in 2017, 54.5% of total aircrafts belonged to narrow-body segment.

Furthermore, increasing demand for aircrafts and customized galleys according to preference of customers is driving growth of the global aircraft galley equipment market. Top players in the global aircraft galley market design and manufacture aircrafts galley equipment to meet requirements of customers, which is expected to drive the market growth.

Global aircraft galley equipment market: Regional Insight

The Asia Pacific aircraft galley equipment market is projected to account for high growth during forecast period, owing to growing aviation industry in the recent past. Moreover, increasing demand for new aircraft deliveries is expected to propel growth of Asia Pacific aircraft galley equipment market. For instance, according to forecast of International Air Transport Association (IATA), from 2015 to 2035 more than half of the new passenger traffic of air transport will coming from the Asia Pacific region. China will replace the U.S. as the world’s largest aviation market (defined by traffic to, from and within the country) around 2024. India will displace the U.K. for third place in 2025, while Indonesia and Japan will be ranked 5th and 7th respectively.

Key players in the global aircraft galley equipment market

Key players operating in the global aircraft galley equipment market include, Zodiac Aerospace, JAMCO Corporation, Rockwell Collins Inc., AIM Altitude, Bucher Group, Aerolux, Turkish Cabin Interior, Korita Aviation, Huaxin Aviation Spare Manufacture Co. Ltd., Diehl Stiftung & Co. KG, and DYNAMO Aviation.

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Global Aircraft Galley Equipment Market: Taxonomy

By Galley Type

• Standard Galley
• Modular Galley
• Customized Galley

By Inserts

• Electric
• Non-Electric Insert

Metamaterials are type of composite material structures, which contain exceptional material properties such as acoustic, electrical, magnetic, and optical properties.  They comprise arrays of resonators that manipulate electromagnetic waves or sound in ways not normally found in nature. The physical properties metamaterials exhibit are exceptional such as negative permittivity and permeability. The metamaterials permit engineers to control the wave propagation by arranging the unit cells in various ways. In other words, metamaterials are artificial or manmade composite materials, which derive their properties through their internal microstructure rather than chemical composition found in natural chemicals.

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The global metamaterials market is expected to witness significant growth during the forecast period (2019–2027). The market growth is attributed to increasing adoption of metamaterials in the aerospace, defense, and military high-end applications is also expected to boost the market growth. Furthermore, increasing demand for metamaterials for different information & communication technology applications such as communication antennas and small radars is another factor driving the growth for metamaterials market during the forecast period.

Furthermore, increasing investment by public and private sources is expected to drive the market growth. For instance, in June 2018, Metaboards Limited (a metamaterials start-up based in U.K.) raised US$ 5 million in funding for development of metamaterials. Metamaterials are in high demand in the medical and telecommunication sector. They are widely used in the development of metamaterial lenses, antennas, and sensors, owing to their rare properties. Metamaterial lenses, antennas, and sensors are more efficient than the conventional systems. Increasing demand for grapheme-based metamaterials in the medical field is fueling growth of the metamaterials market. Sensors and the microwave antennas are the prime components of the telemetry system, owing to their electromagnetic properties. Metamaterials also find application in solar cells and optical sensors, owing to the ability of metamaterials to absorb a wide range of light and that too with high efficiency.

However, lack of awareness about the benefits of metamaterials and technical complications associated in terms of suitability for different applications with them is expected to hamper the market growth.

Increasing aircraft production is expected to aid in growth of the metamaterials market

Increasing adoption of metamaterials in the aerospace & defense industry for different applications such as in the manufacturing of lightweight components for radar and military communication applications is one of the major factor driving growth of the market. Metamaterials are also used in the manufacturing of drones. Therefore, increasing production of drones for military applications is another factor driving growth of the market. Moreover, increasing aircraft production and upgrading activities is also contributing to growth of the metamaterials market. For instance, according to Coherent Market Insights’, the global aircraft deliveries reached to 1,618 units in 2018, from an estimated 1,498 units in 2017.

Increasing deployment & usage of antennas for communication applications is expected to aid in growth of the market

The use of metamaterial antennas has increased in the recent past. For instance, Kymeta Corporation witnessed continuous growth in the sales of its Ku-band metamaterial antenna in 2018 compared to the previous years. The demand for such antennas is due to their use in vessels, radar, and smart phones. Using metamaterials in antennas enables an individual to focus six times beyond diffraction limit at 0.38 μm. Metamaterials are used in cell phones to provide antennas, which are five times smaller and have a bandwidth range of 700 MHz – 2.7 GHz.

Moreover, scientists are focused on the research of wide angle impedance matching (WAIM) technology. It has been proven that metamaterials can be used to achieve superior wide angle impedance for phased array antennas.

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Some of the key players operating in the global metamaterials market include, Acoustic Metamaterials Group Ltd., Advanced Research Projects Agency, Echodyne, Inc., Fractal Antenna Systems Inc., JEM Engineering, Kymeta Corporation, Metaboards Limited Metamagnetics Inc., Metamaterial Technologies Inc., Nano-Meta Technologies, Inc., Palo Alto Research Center Incorporated, and TeraView.

Global bulletproof glass market is expected to witness significant growth during the forecast period of 2019–2027. Growing demand for bulletproof glass from the transportation and automotive sectors, requirement for safety measures, rising number of commercial, residential and infrastructure applications, increasing government concerns with respect to public safety and security, followed by infrastructure development in emerging economies are some of the factors driving the market growth. With the rise in crime rates and terror attacks around the world, has led to an increase in safety and security concerns which is expected to propel growth of the bulletproof glass market across the globe. As a result, key players in the market are adopting various business strategies such as partnerships to strengthen their foothold in the global market. For instance, in October 2013, Grey Mountain Partners acquired Dlubak Corp., a subsidiary of Consolidated Glass Holdings, Inc. which manufactures bullet-resistant glass in its fabrication plant located in Blairsville, U.S.

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North America Bulletproof Glass Market accounted for largest share in 2018

North America is expected to be the largest and fastest growing region in the bulletproof glass market during the forecast period (2019-2027) owing to increasing demand for bulletproof glass from the automobile industry. Manufacturers such as BMW, Ford, Audi, and Volkswagen are launching bulletproof vehicles in the region which is projected to augment growth of the bulletproof glass market in North America. Furthermore, increasing defense expenditure as well as increasing research and development activities for development of advanced bulletproof glass by the U.S. government, followed by growth in segments such as infrastructure and healthcare is also expected to spur demand for bulletproof glass during the forecast period. According to Coherent Market Insights analysis, the U.S. defense expenditure increased from US$ 521 Bn in 2017 to US$ 639 Bn in 2018, which, in turn, is expected to drive demand for bulletproof security glass in the next few years. Additionally, increasing number of armed robberies in the U.S. is also expected to contribute to the growing demand for bulletproof glass in the region, thereby augmenting the global bulletproof glass market growth.

On the basis of end-use industry, the global bulletproof glass market is segmented into the financial services industry, automotive industry, construction industry, and others. The automotive industry segment is expected to be the largest and fastest growing segment in the global bulletproof glass market during forecast period, owing to increasing deployment of bulletproof glass in the automotive sector. Armored vehicles used by VIP personnel, government embassies, and banks are fitted with bulletproof glass. Furthermore, the side and rear windows, vehicle windscreens and glass panel roofs are fitted with bulletproof glass, which can protect the vehicle from ballistic attacks. For instance, Lasco International Group, based in the U.S, provides bullet resistant flat glass and laminated window auto glass to the automotive industry. The armored auto glass segment of the company reproduces the original shape, safety and comfort, dimensions, and tight blending tolerance of the glass, and thereby optimizing the bullet resistant capacity of the glass meant for application in the automotive industry.

Furthermore, researchers of bulletproof glass are focused on technological innovations, particularly for military application. For instance, in June 2017, Tomsk Polytechnic University researchers are working on developing the transparent ceramics production technology which is used to make bullet resistant glass for military and defense purposes. This technology aims to reduce the weight of the glass by two to three times and thereby increase the ballistic strength of the glass. These factors are expected to drive growth of the global bulletproof glass market in the near future.

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Key companies

Some of the key players operating in the global bulletproof glass industry include Saint-Gobain, Asahi Glass Co., Ltd. (AGC Inc.), Nippon Sheet Glass Co., Ltd, GUARDIAN GLASS LLC, ?i?ecam Group, Taiwan Glass Industry Corporation, SCHOTT AG, Phoenicia, Scheuten, and Consolidated Glass Holdings, Inc. among others.

The offshore patrol vessels are mainly designed to perform surveillance operations in the exclusive economic zone (EEZs) and other operational tasks such as protection of shipping lanes, anti-piracy patrols, and coastal security. Furthermore, naval offshore patrol vessel chartering services are introduced for the protection of the exclusive economic zone (EEZ) against maritime criminality, piracy, marine pollution, and human and weapons or drugs trafficking. The naval offshore patrol vessels (NOPVs) are patrol ships that are armed with super rapid gun mount (SRGM) system along with AK-630M guns that offer medium and short range defensive capabilities. The armament is remotely controlled through an electronic Fire control system. Moreover, the patrol ships are fitted with diesel engine driven propulsion systems that offers high speed and the ship operations are controlled by an intelligent platform management system, which has interfaces for all operational activities. For instance, in May 2018, The Indian Navy deployed offshore patrol vessels Sumedha, for joint surveillance of exclusive economic zone (EEZs) for Maldives.

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50 M to 90 M segment is expected to exhibit highest growth rate during the forecast period

Among sizes, the segment 50m to 90m is expected to witness highest growth during the forecast period. The segment was valued at US$ 4,397.51 Mn in 2017 and is expected to reach US$ 6,396.99 by 2027 at a CAGR of 3.9% over the forecast period. These ships have length from 50 meter to 90 meter and are mainly used for coast guarding, surveillance, and defense activities. They are also used for policing operations, rescue operations, embarkation & operation of ALH helicopter for long range all time search, and pollution response against oil spillage and external fire-fighting among others. Such vessels are used in navy operations. For instance, River-class patrol vessels are primarily built for the Royal Navy of the U.K. with length ranging from 79.5 meters to 90.5 meters. Moreover, the Arafura class are multi-purpose, warship class ships in the Royal Australian Navy has length measuring from 80 meters. This ship will be used offshore and littoral patrol, mine warfare, anti-terrorism and anti-piracy operations, border protection, and hydrographic survey. BAE Systems is one of the renowned builders of 90 meter offshore patrol vessels and is currently working for five 90 m offshore patrol vessels for the second batch of the British Royal Navy’s River-class.

The novel design and advancements in technology has revolutionized the 50M to 90M class of patrol vessels. The newer versions are more versatile, have better flexible designs, and deliver more efficient operations. Patrol vessel with length 90 meter can occupy around 60 personnel and can carry up to 50 embarked troops or passengers. These have enhance flight deck to operate helicopters and have advanced infrastructure including virtual technologies to integrate weapons, management systems, sensors, and other detailed systems for complex warships. For instance, BAE Systems’ River-class vessel offers similar features with inclusion of advanced CMS-1 combat system to provide tactical picture compilation, planning, situational awareness, decision making, and control of weapons from its intuitive consoles in littoral operations. The combat system also assists the North Atlantic Treaty Organization (NATO) and other coalition missions. BAE Systems’ 90meter offshore vessel is equipped with an air surveillance radar, which can be used to detect low-flying aircrafts (which are used for smuggling operations). It has 30 mm small caliber gun system equipped with it, which can engage speedy inshore attack craft armed with short-range missiles, machine guns or explosives, rockets, and rocket-propelled grenades. It features 20 meters long flight deck and can land as well as fuel a medium-size helicopter weighing up to 7 tons.

Demand for such vessels has witnessed consistent growth, owing to their capabilities, operational efficiency, and advanced features installed in them. For instance, as per Coherent Market Insights, Indian Government ordered 16 new 55 meters ASW patrol ships in 2015. Moreover, in January 2019, the Armed Forces of Malta signed a contract worth around US$ 40 Mn with Italy-based shipbuilder, Cantiere Navale Vittoria, for the construction of a second purpose-built offshore patrol vessel, which will be used in patrolling Malta’s territorial waters. The ship measures around 74.8 meters in length and can reach the speed of around 20 knots.

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Global Offshore Patrol Vessels Market: Key Players

Major players operating in the global offshore patrol vessels industry include Austal, BAE Systems, Damen Shipyards Group, DEARSAN, Fr. Fassmer GmbH & Co. KG, FINCANTIERI S.p.A., Fr. Lürssen Werft GmbH & Co. KG, Hamilton Jet, Israel Shipyards Ltd, Eastern Shipbuilding Group Inc., STANLEY BOATS, Marine Alutech OY AB, J.D. Irving Group of Companies, Japan Marine United Corporation, Kangnam LCorporation, Kawasaki Heavy Industries, Ltd., L&T Shipbuilding, Mitsubishi Heavy Industries, Ltd., Navantia, SOCARENAM, STX Offshore & Shipbuilding Co., Ltd, and Garden Reach Shipbuilders & Engineers Ltd.

The global phenol formaldehyde adhesives and laminates market size is expected to witness potential gains in the future and register a significant CAGR of 5.1% over the forecast period (2019 – 2027).

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Market Overview

Phenol formaldehyde resins are synthetic polymers used to manufacture high-pressure laminates and adhesives. They are also used to manufacture plastics, molding compounds, and abrasives. Reaction of phenol and formaldehyde in the presence of an alkaline catalyst such as sodium hydroxide produces phenol formaldehyde. Phenol-formaldehyde resins are synthetic commercially available plastic resins. Paper base phenolic resin laminates are brittle due to high hardness and inexpensive and widely used in numerous applications such as wooden chipboard, construction, electrical equipment, and decorative articles.

Market Dynamics

Increasing demand for phenol formaldehyde adhesives and laminates from end-use industries such as buildings & construction, automotive, and electronics is expected to boost growth of the global phenol formaldehyde adhesives and laminates market over the forecast period. Phenol formaldehyde laminates are used in manufacturing electrical components such as punch-through boards.

Phenol formaldehyde adhesives are used in wooden chipboard for exterior wall appellations as they offer moisture resistance. In the construction industry, phenol formaldehyde resins are used as wood adhesives and glues for construction grade wood panels. Phenol formaldehyde adhesives offer high moisture resistance and superior water resistance. Phenol formaldehyde reacts with natural phenol-like lignin found in wood to enhance glue to wood bond and sets hard and rigid. Therefore, demand for phenol formaldehyde adhesives from the construction industry is also expected to boost the market growth over the forecast period.

However, presence of cheaper alternatives is expected to hinder the market growth. Urea formaldehyde glue is cheaper compared to phenol formaldehyde adhesives. Moreover, phenol in phenolic adhesive formulations can be replaced with lignin.

Market Outlook

On the basis of region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in Asia Pacific is expected to hold dominant position over the forecast period. This is attributed to growing building and construction industry in the economies of India and China. The market is also expected to witness the fastest growth over the forecast period, owing to increasing demand for phenol formaldehyde adhesives and laminates in this region. The market in North America is primarily driven by high demand of phenol formaldehyde adhesives and laminates from the construction and wooden chipboard market. The market in Europe is expected to account for significant market share, owing to high demand for phenol formaldehyde adhesives and laminates from Germany followed by Italy, Spain, Sweden, and the U.K.

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Key Players

Key players operating in the global phenol formaldehyde adhesives and laminates market include, Sumitomo Bakelite, BASF SE, Georgia Pacific, Mitsui Chemicals, and Kolon Industries Ltd.