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Aircraft Lightning Protection Market Key Drivers, Market Research, Insights, and Report 2024-2033: A Strategic Examination
Aircraft Lightning Protection Market
Insights into Aircraft Lightning Protection Market: Global Trends and Analysis
Aircraft Lightning Protection Industry - Key Market Dynamics and Trends
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.
Market Overview -
The aircraft lightning protection refers to a process of using thick, external metal that is sufficiently thick enough to resist lightning strikes in aircraft by preventing electromagnetic energy from entering critical spaces. Furthermore, the skin or interior is designed with a metal mesh to provide an additional layer of protection.
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Rising Demand For Cost-Effective Air Travel Driving Growth In The Aircraft Lightning Protection Market
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.
Competitive Landscape -
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
Innovative Lightning Sensor Systems Enhance Aircraft Lightning Protection Market Growth
The growing adoption of lightning sensor systems is a key trend gaining popularity in the market. Lightning sensor systems on airplanes are electric field sensors on the aircraft that help continuously monitor the electrical environment of an airplane, through this system, onboard algorithms can determine the risk of lightning charge, helping improve the situation. For instance, Honeywell's lightning sensor system, the LSZ-860 helps detect areas of lightning activity in a 200-nautical mile radius around the aircraft.
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Key Segments -
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)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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