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Aircraft Lightning Protection Market Will Grow at a Healthy CAGR by 2026 Profiling Honeywell International Inc, Cobham, Saab, L3 Aviation Products, The Expanded Metal Company, The Gill Corporation
Aircraft Lightning Protection Market
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Changing consumer perceptions towards air travel as a faster, safer, and cost-effective transportation will boost expansion of air fleets. This may promote the demand for manufacturing of safer aircrafts. Extensive efforts to expand commercial airline fleets due to increasing air passengers across the world will positively impact aircraft lightning protection market growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
Honeywell International Inc, Cobham, Saab, TE Connectivity, Dayton Granger, Dexmet Corporation, Astroseal Products, Avidyne, All Weather Inc., L3 Aviation Products, Saywell, Cooper Antennas, Protek Devices, Exel Group, Niles Expanded Metals, Benmetal, Detect Inc., The Expanded Metal Company, The Gill Corporation
Growing usage of low-cost carriers, as well as development of cost-effective solutions against lightning strikes, will also supplement expand aircraft lightning protection industry share over the coming years. Aircraft lightning protection market is forecast to cross the USD 3.8 billion mark by 2026.
Currently, lightning detection & warning system holds a fair share in the aircraft lightning protection market revenue and is estimated to register a CAGR of above 7% over 2019-2026. Such exponential growth can be attributed to beneficial features offered by these systems, such as monitoring the electric field and triggering warnings during potential lightning situations, which is likely to accelerate product adoption.
Aircraft lightning protection materials are deployed in a wide range of applications in civil and military aviation. These materials are essential for military aircrafts because lightning accidents can take the airplane out of service for an extended period of time which can be a potential risk for the sector as well as nations. Escalating government spending on military & defense aviation sector, as well as increasing defense budgets in various countries, such as the U.S., China, Russia, the UK, and India is likely to favor industry expansion. Military end-use sector is forecast generate a revenue of over USD 380 million over the forecast timespan.
Based on aircraft type, aircraft lightning protection market is branched into commercial aircrafts, regional jets, business jets, military aircrafts, and helicopters. Shift in passenger preference for air travel will favor the expansion of regional jets. Moreover, modification and upgradation of ageing aircrafts for safety purpose may also change business outlook. From regional jet segment, aircraft lightning protection materials market is estimated to accumulate gains at more than 8% CAGR over the forecast period.
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APAC region is slated to be the fastest growing regional market for aircraft lightning protection materials and is forecast to showcase growth rate of more than 6% over the analysis period. This can be attributed to the steady increase in air passenger traffic in the region. With rapid urbanization and growing disposable incomes of the population is increasing, and hence the preference for air travels. Growing demand for passenger aircrafts in the region may positively impact aircraft lightning protection market growth.
List of Charts & Figures from Aircraft Lightning Protection Market Report:
FIG 1 Industry segmentation
FIG 2 Industry landscape, (USD Million), 2016 - 2026
FIG 3 Industry ecosystem analysis
FIG 4 Growth potential analysis, 2018
FIG 5 Porter's analysis
FIG 6 Company market analysis, 2018
FIG 7 PESTLE analysis
FIG 8 Market volume share by product, 2018 & 2026
FIG 9 Market volume share by end user, 2018 & 2026
FIG 10 Market volume share by aircraft, 2018 & 2026
FIG 11 Aircraft lightning protection market volume share by fit, 2018 & 2026
FIG 12 Market share by region, 2018 & 2026
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