Press release
Aircraft Lightning Protection Market worth $7.83 billion by 2030, growing at a CAGR of 11.6% | Segmented By Application, By Fit, By Aircraft Type, Forecast 2024-2033
Aircraft Lightning Protection Market Report
The Business Research Company presents an extensive market research report on the Aircraft Lightning Protection Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The aircraft lightning protection market size has grown rapidly in recent years. It will grow from $4.7 billion in 2023 to $5.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to integration of sensors and detection systems, climate resilience and severe weather events, research and development focus, increase in air traffic.
The aircraft lightning protection market size is expected to see rapid growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to market demand for lightweight solutions, automation and sensor integration, globalization and industry growth, R&D investment in lightning protection, focus on climate resilience. Major trends in the forecast period include advanced material development, stringent safety regulations, advancements in aircraft technology, research and development efforts.
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Key Market Players:
Major companies operating in the aircraft lightning protection market report are United Parcel Service Inc., The Boeing Company, Airbus SE, Honeywell International Inc., PPG Industries Inc., L3Harris Technologies Inc., Leonardo S.p.A., TE Connectivity Ltd., Textron Inc., Amphenol Corporation, Gulfstream Aerospace Corporation, Microchip Technology Inc., Dassault Aviation SA, Bombardier Inc., Embraer S.A., Saab AB, Cobham plc, Ultra Electronics Holdings plc, LORD Corporation, National Technical Systems Inc., The Gill Corporation, WireMasters Inc., Dayton-Granger Inc., Technical Fibre Products Limited, Dexmet Corporation, Lightning Technologies Inc., LSP Technologies Inc., Avidyne Corporation, AstroSeal Products Manufacturing Inc., Pinnacle Lightning Protection LLC
Market Drivers:
Cost-effective air travel is expected to boost the growth of the aircraft lightning protection market. With the increasing cost-effectiveness of flights, more consumers are opting to fly often, this leads to an increase in the manufacturing of aircraft, ultimately propelling the growth of the aircraft lightning protection global market. For instance, in 2021, Frontier Airlines ran a buy-one, get-one promotion, and JetBlue Airways had conducted a three-day sale with fares starting as low as $49 one-way from New York. Moreover, Hawaiian Airlines were offering round-trip airfares between Hawaii and the West Coast for as little as $123. Thus, demand for cost-effective air travel is expected boost to the growth of the aircraft lightning protection market.
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The aircraft lightning protection market covered in this report is segmented -
1)By Application: Lightning Protection, Lightning Detection & Warning, Static Wicks, Expanded Metal Foils, Transient Voltage Suppressors, Test Service
2) By Fit: Line Fit, Retrofit
3) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs)
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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