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Aircraft Lightning Protection Market Growth Analysis, Outlook by 2019 – Trends, Opportunities and Forecast to 2026

Author : Ronak Bora | Published Date : 2020-08-27 

Aircraft Lightning Protection Market is expected to surpass USD 3.8 billion by 2026. Increase in production and expansion of aviation industry will propel aircraft lightning protection market size.

Some major findings of the aircraft lightning protection market report include:

Escalating use of composites in order to reduce aircraft weight and improve its fuel efficiency will drive the product market.

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.

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 industry.

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Fragmented market with a large number of manufacturers across worldwide. Eminent players in the aircraft lightning protection industry includes Cobham, Microsemi Corporation, Honeywell, L3 Aviation Products, Dexmet Corporation, The Gill Corporation and Saywell.

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, high cost associated with manufacturing setups and permits required for the various processes may hamper product growth in the near term. Nevertheless, growing use of low cost carriers and development of cost effective solutions against lightning strikes will further expand aircraft lightning protection market size 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 triggers warnings during the potential lightning.

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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 in 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.

On the basis of aircraft, the industry is segmented into regional jets, commercial aircrafts, helicopters, business jets, and military aircrafts. Here, aircraft lightning protection materials in regional jets is 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 then that of line fit, which can be attributed to modification and upgradation 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 the significant rate of 4.6% in airline passengers owing to low air fare.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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