Aircraft Radome Market to Witness Astonishing Growth with a 7.2% CAGR to reach US$ 741.4 million, Analysis with Impact of COVID-19 and Forecast 2025

According to a new market research study titled 'Aircraft Radome Market to 2025 - Global Analysis and Forecasts by Design Type, Material Type and Aircraft Type, the global aircraft radome market was valued at US$ 403.81 Mn in 2016 and is estimated to reach US$ 741.47 Mn by 2025. The report highlights the trends prevalent in the global aircraft radome market and the factors driving the market along with those that act as deterrents to its growth.

The global airspace is experiencing huge demand for air travel in terms of both military aircrafts as well as commercial aircrafts. This is leading the airlines and defense forces to procure latest technology aircrafts as well as adopt new and robust technologies in order to modernize the existing aircrafts. Modernization of existing commercial aircrafts as well as military aircraft is a major trend prevailing in the aviation industry at present. The trend is expected to surge over the period leading to huge opportunity for the aircraft component manufacturers. The modernization of aircrafts includes engine, landing gears, radars and antennas, in-flight entertainment systems, navigation systems and armaments among others. In order to secure the latest technology radar, the aircraft radome manufacturers are designing and manufacturing robust technology radome, which is increasing the interest among the commercial aircraft manufacturers as well as defense aircrafts manufacturers.

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The " Aircraft Radome Market to 2025 by Design Type (Nose Radome & Fuselage Mounted Radome); Material Type (Glass-Fiber, Resin & Quartz); & Aircraft Type (Commercial Aircrafts & Military Aircrafts) - Global Analysis and Forecast" The scope of study involves understanding on the factors responsible for this growth of aircraft radome market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant Aircraft radome players in the market and their key developments.

The key players profiled in the report are Jenoptik AG, Saint-Gobain, Meggitt PLC, Orbital ATK and Airbus S.A.S. Also, General Dynamics Corporation, NORDAM Group Inc., Starwin Industries, Kitsap Composites and Vermont Composites are other key companies in the aircraft radome market.

The report segments the global aircraft radome market as follows:

Global Aircraft Radome Market - By Design Type
Nose Radome
Fuselage Mounted Radome

Global Aircraft radome Market - By Material Type
Glass Fiber
Resin
Quartz

Global Aircraft radome Market - By Aircraft Type
Commercial Aircraft
Military Aircraft

The modern radome increases the stealthy properties of an aircraft which is highly beneficial for both commercial and military aircrafts, and owing to this, the airlines and defense forces are procuring modern radome in huge numbers. Thus, the modernization of existing aircrafts is acting as a major opportunity factor for the aircraft radome manufacturers, which in turn is anticipated to bolster the market for aircraft radome in the coming years.

Global aircraft manufacturing industry is possessed with large number of well established companies across the globe. Owing to this, the bargaining power of buyers in the aircraft radome market is high at present. Aircraft manufacturers such as Airbus, Boeing, Lockheed Martin Corporation, Northrop Grumman Corporation, and BAE Systems among others compete among each other to provide the customers with the best products and attributing to this, the aircraft manufacturing companies switch aircraft component contractors over a period of time, in order to enhance the systems.

The aircraft manufacturers have the opportunity to switch contractors for aircraft radome, considering the pricing and technology. The leading manufacturers of aircraft radome compete among each other in terms of technology, quality and pricing in order to acquire contracts from leading aircraft manufacturing companies.

The global aircraft radome market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. Europe is fastest growing region in the aircraft radome market during the forecast period from 2017 to 2025. The growth is attributed to the fact that commercial airlines in the region are increasing at a rapid rate, resulting in demand for technologically advanced composites in the aircrafts, in order to provide enhanced protection to the radar and flight control surfaces from external influences. Another factor bolstering the market for aircraft radome in the region is the surging defense expenditure in order to procure robust technologies which includes aircraft radome manufactured with enhanced technology materials.

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