Press release
Aircraft Lightning Protection Market to witness exponential growth by 2024, Key growth drivers| In-depth regional Analysis key Players- Honeywell, Microsemi Corporation, Cobham, L3 Commercial Aviation, The Gill Corporation
Increasing number of air passengers is augmenting the requirements for airplanes. IATA reported that the number of air passenger is expected to increase over 7.8 billion by 2036. The airline industry witnessed a significant rise in the number of passengers in comparison to seaways and railways owing to increased safety and reduced travel time. Industry players are focusing to expand their business owing to the previous backlog, thereby escalating the aircraft lightning protection industry.
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Lightning protection material dominated the industry and accounted for 94% of overall revenue in 2017. The materials are deployed on the outer surface and in structure for protecting the airplanes against lightning strikes. The static wicks and grounding wires are positioned on the trailing edges for discharging the charge into atmosphere. While expanded metal foil is positioned in the structure above composite material for improving the conductivity.
Regional jets are expected to witness fastest growth over forecast period owing to its increased profitability and easy air services offered to small airplanes. For instance, in 2018, Lufthansa airlines witnessed an addition of CRJ100 jets for connecting eastern and western European cities. Moreover, increasing trading activities across the globe is expected to fuel the growth of business jets, thereby escalating the aircraft lightning protection market volume.
The amount of the damaged caused to the airplane depends on the amount of energy dissipated, strike duration, and exit & attachment locations. Manufacturers deploy conductive material on the outer surface to improve the airplane conductivity, positively influencing the aircraft lightning protection market growth from 2018 to 2024.
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North America leads the aircraft lightning protection market owing to the increasing production and deliveries of airplanes. Government of the U.S & Canada and FAA introduced regulations regarding the weight of empty plane which will surge the application for composite materials. Implementation of procedures regarding conductive treatment for composites will increase the product demand. Asia Pacific is expected to witness around 5% CAGR over the forecast timeframe owing to multiplying number of air passengers.
Aircraft lightning protection market participants include Microsemi Corporation, Cobham, Saywell, Dexmet Corporation, The Gill Corporation, L3 Aviation Products and Honeywell. Other notable players are Saab, Dayton Granger, The Expanded Metal Company, Wire Masters, TE Connectivity, Benmetal, Exel Group, Niles Expanded Metal, Astroseal Products, Avidyne, and Proteck devices. Companies are focusing on launching advanced products for improving market position.
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