Press release
Soaring Growth Expected in Aircraft Lightning Protection Market: $5.73 Billion by 2025 at 11.3% CAGR, $8.34 Billion by 2029 at 9.9% CAGR
Aircraft Lightning Protection Market Size
What Is The Projected Market Size Of The Global Aircraft Lightning Protection Market And Its Growth Rate?
The Aircraft Lightning Protection Market has witnessed significant growth and continued advancements;
- The market size is expected to reach $5.73 billion by 2025 at a CAGR of 11.3%, up from $5.14 billion in 2024.
- By 2029, the market is projected to hit $8.34 billion, growing at a CAGR of 9.9%.
- Factors such as integration of sensors, climate resilience, research and development focus and increase in air traffic contribute to this growth.
What Is Driving The Growth In The Aircraft Lightning Protection Market?
The rise in cost-effective air travel significantly contribute to the growth of the global aircraft lightning protection market. Increased affordability of flights prompts a higher frequency of air travel among consumers which in turn escalates the manufacturing of aircraft and the growth of the market. For instance, in 2022, U.S. airlines carried 853 million passengers, marking a 30% increase from 2021 and adding 194 million passengers year-over-year. Hence, the growing demand for cost-effective air travel continues to drive the growth of the market.
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Who Are the Key Players Driving Aircraft Lightning Protection Market Growth?
The following are the major companies propelling the growth of the aircraft lightning protection market:
- 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
- Dassault Aviation SA
- Bombardier Inc.
- Embraer S.A.
- Saab AB
- Cobham plc
- Ultra Electronics Holdings plc
- LORD Corporation
- The Gill Corporation
- WireMasters Inc.
- Dayton-Granger Inc.
- Technical Fibre Products Limited
- Dexmet Corporation
- Lightning Technologies Inc.
- LSP Technologies Inc.
- AstroSeal Products Manufacturing Inc.
- Pinnacle Lightning Protection LLC
What Are The Key Trends In The Aircraft Lightning Protection Market?
Key trends influencing the Aircraft Lightning Protection Market include:
- Development of advanced materials
- Implementation of stringent safety regulations
- Advancements in aircraft technology
- Increased research and development efforts.
What Are The Segments Of The Global Aircraft Lightning Protection Market?
The Aircraft Lightning Protection Market is segmented into:
1) By Fit: Line Fit, Retrofit
2) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs)
3) By Application: Lightning Protection, Lightning Detection And Warning, Static Wicks, Expanded Metal Foils, Transient Voltage Suppressors, Test Service
Which Region Leads The Aircraft Lightning Protection Market?
North America held the dominant position in the global aircraft lightning protection market in 2024. It is also forecasted to be the fastest-growing region in the subsequent years. Apart from North America, the report also covers regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Aircraft Lightning Protection Market Global Market Report?
- Market Size Analysis: Analyze the Aircraft Lightning Protection Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aircraft Lightning Protection Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aircraft Lightning Protection Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aircraft Lightning Protection Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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