What’s driving the Aircraft Composite Enclosures Market Growth? | Key Players TE Connectivity, Automated Dynamics, AIM Aerospace, Carlisle Interconnect Technologies,Connective Design
Few players in the aircraft composite enclosures market place include TE Connectivity, Automated Dynamics, AIM Aerospace, Carlisle Interconnect Technologies, and Connective Design, Inc. Strategic acquisitions and mergers are among the prominent strategies adopted by the industry participants for increasing their market share.
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Aircraft Composite Enclosures Market is anticipated to grow exponentially over the forecast timeframe as increasing focus on efficiency and safety in the aerospace industry is promulgating the selection of composite materials for enclosures. The rising prominence of air transportation owing to rapid globalization and changing preferences for travelers along with low-cost airfares is providing a positive outlook for the industry growth.
Fuel consumption accounts for the majority of the direct operating costs for an aircraft. The usage of lightweight composites for manufacturing aircraft components contributes significantly toward lowering the overall aircraft weight, thereby increasing the aircraft fuel efficiency considerably. Further, advancements in aircraft propulsion systems with improved power to weight ratio will positively influence the aircraft composite enclosures market growth till 2024.
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Rising concerns for thermal management and difficulties in waste heat dissipation are playing a significant role in the increased usage of composite enclosures in aircraft. The superior heat absorption and prevention of unwanted exposure offered by these materials are positively influencing the aircraft composite enclosures business expansion over the study timeframe.
Based on fiber, the aircraft composite enclosures market share is categorized into glass fiber composites and carbon fiber composites. The benefits offered by the glass fiber composites are lower cost, improved corrosion resistance, and lower weight compared to its counterparts, supporting the segment growth over the study timeframe.
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Based on aircraft, the aircraft composite enclosures marketplace is classified into military aircraft, commercial aviation, business aviation, and regional jets. Proliferating military expenditure along with advancements in aircraft technologies is playing a significant role in boosting the aircraft composite enclosure market share over the forecast period.
Aircraft designers are engaged in innovative designing techniques with the usage of lightweight and flexible materials that offer significant impact resistance. The integration of advanced components with multifunctional features provides potential opportunities for aerospace components growth. Easier integration of electrical & mechanical systems along with superior weight-bearing capabilities will play a significant role in the growth of the aircraft composite enclosures market share till 2024.
North America will account for the majority share in the aircraft composite enclosures marketplace. This dominance is credited to the presence of major players across the region focusing on manufacturing advanced aircraft targeting diversified sectors, thereby supporting the regional growth.
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