Aircraft Lightning Protection Market Value to Hit USD 3.8 Bn by 2026: Global Market Insights, Inc.
Asia Pacific aircraft lightning protection market is the fastest growing and is anticipated to witness growth of more than 6% during the forecast period due to steady increase in air passenger traffic across the region.
SELBYVILLE, Del., December 4, 2019 (Newswire.com) - According to latest report “Aircraft Lightning Protection Market by Product (Lightning Protection {Expanded Metal Foil, Static Wick/Grounding Wire, Transient Voltage Suppressors}, Lightning Detection & Warning), End User (Civil, Military), Aircraft (Commercial Aircraft, Regional Jet, Business Jet, Helicopter, Military Aircraft), Fit (Line-Fit, Retrofit), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aircraft lightning protection will cross $3.8 billion by 2026. Increase in production and expansion of aviation industry will propel the aircraft lightning protection market size.
Some major findings of the aircraft lightning protection market report include:
Ø Escalating use of composites in order to reduce aircraft weight and improve its fuel efficiency will drive the product market.
Ø Rise in new aircraft orders and airliner fleet due to increasing air routes and swelling passenger travel across the world will positively impact growth in the sector.
Ø Technology advancements with respect to design, mechanism, and material of the aircraft configuration to make it lighter, safer and efficient will further expand aircraft lightning protection market.
Ø Fragmented market with a large number of manufacturers worldwide. Eminent players in the industry includes Cobham, Microsemi Corporation, Honeywell, L3 Aviation Products, Dexmet Corporation, The Gill Corporation and Saywell.
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Growing use of composites in aircraft configuration and rising consumer preferences towards air travel as a faster, safer, and cost-effective transportation will not only increase aircraft fleet but will also promote the demand for new aircraft manufacturing in the coming year. This, in turn, will surge the demand for aircraft lighting protection materials in the market. However, the high cost associated with manufacturing setups and permits required for the various processes may hamper product growth in the near term. Nevertheless, the growing use of low-cost carriers and development of cost-effective solutions against lightning strikes will further expand aircraft lightning protection market revenue during the forecast period.
On the basis of product, the industry is categorized into lightning detection & warning system and lightning protection, here lightning protection is further segmented into transient voltage suppressors, grounding wire/static wick, and expanded metal foil, where lightning detection & warning system holds a fair share in the market revenue and is anticipated to grow with a significant rate of more than 7% over the forecast spell. This is because these systems not only monitor the electric field but also trigger warnings during the potential lightning.
Based on end-use sector aircraft lightning protection materials find wide applications in military as well as civil aviation. Military end-use sector will generate over USD 380 million owing to enormous government spending on military & defense aviation sector across the world. Several countries such as U.S., China, Russia, UK, and India spend a fair share of GDP for their defense budget every year.
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On the basis of aircraft, the aircraft lightning protection market is segmented into regional jets, commercial aircraft, helicopters, business jets, and military aircraft. Here, aircraft lightning protection materials in regional jets are likely to register highest growth rate of nearly 8% by 2026 owing to growing passenger preference towards air travel. Likewise, based on fit, retrofit lighting protection material is likely to grow at a faster rate than that of line fit, which can be attributed to modification and upgrading of aircraft components during overhaul and maintenance.
Asia Pacific is the fastest growing market for aircraft lightning protection material, which is anticipated to grow the CAGR of more than 6% by 2026. This is due to steady increase in air passenger traffic. As per International Air Transport Association (IATA), the region is likely to grow with a significant rate of 4.6% in airline passengers owing to low airfare.
Browse key industry insights spread across 300 pages with 361 market data tables & 12 figures & charts from the report, “Aircraft Lightning Protection Market Size 2019-2026” in detail along with the table of contents @
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Table of Contents (ToC) of the report:
Chapter 3. Aircraft Lightning Protection Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Supplier
3.3.2. Manufacturer
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.2. Europe
3.5.3. Asia Pacific
3.5.4. Latin America
3.5.5. MEA
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.1.1. North America
3.6.1.2. Europe
3.6.1.3. Asia Pacific
3.6.1.4. Latin America
3.6.1.5. MEA
3.6.2. Industry pitfalls & challenges
3.7. Innovation & sustainability
3.8. Growth potential analysis
3.9. Porter's analysis
3.10. Company market share analysis, 2017
3.10.1. Top players analysis
3.10.2. Strategy dashboard
3.11. PESTEL analysis
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
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Tags: Aircraft Lightning Protection Market, Business Jet, Civil, Commercial Aircraft, Helicopter, Lightning Detection & Warning, Lightning Protection, Line-Fit, Military, Military Aircraft, Regional Jet, Retrofit
