Ocean View, DE -- (SBWire) -- 06/26/2020 --Rising customer inclination toward air travel due to it being a safer, faster and cost-effective travel option would drive aircraft lightning protection market outlook in the coming years. The industry has emerged as one of the most lucrative verticals in recent years and is slated to observe a significant growth outlook through 2026 owing to surging applications of composites in aircraft production.
The growing air travel would also increase the production of new aircrafts in the market, pushing the aircraft lightning protection demand further over the coming years.
Along with growing passenger traffic, the increasing usage of low-cost carriers and new development of cost-effective solutions for lightning strikes would further bolster the market demand through 2026.
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The Major Key Players in the Market are as follows:
- Honeywell
- Cobham
- Saab
- TE Connectivity
- Dayton-Granger, Inc.
- Avidyne
- L3 Technologies
- Saywell International
- The Gill Corporation
On the basis of product type, the aircraft lightning protection market is categorized into lightning protection, and lightning detection & warning system. Lightning protection segment is further bifurcated into grounding wire/static wick, expanded metal foil, and transient voltage suppressors.
Currently, lightning detection & warning system holds a fair share in the market revenue and is estimated to register a CAGR of above 7% over 2019-2026. Such exponential growth can be attributed to beneficial features offered by these systems, such as monitoring the electric field and triggering warnings during potential lightning situations, which is likely to accelerate product adoption.
Aircraft lightning protection materials are deployed in a wide range of applications in civil and military aviation. These materials are essential for military aircrafts because lightning accidents can take the airplane out of service for an extended period of time which can be a potential risk for the sector as well as nations. Escalating government spending on military & defense aviation sector, as well as increasing defense budgets in various countries, such as the U.S., China, Russia, the UK, and India is likely to favor industry expansion. Military end-use sector in aircraft lightning protection market is forecast generate a revenue of over USD 380 million over the forecast timespan.
Based on aircraft type, aircraft lightning protection market is branched into commercial aircrafts, regional jets, business jets, military aircrafts, and helicopters. Shift in passenger preference for air travel will favor the expansion of regional jets. Moreover, modification and upgradation of ageing aircrafts for safety purpose may also change business outlook. From regional jet segment, aircraft lightning protection materials market is estimated to accumulate gains at more than 8% CAGR over the forecast period.
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Asia Pacific will emerge as a profitable revenue terrain for aircraft lightning protection market over the forecasted timeframe. Rapid increase in disposable income among people has led to the increase in air passenger traffic in the region. Due to a robust tourism industry in countries like China, Malaysia, Singapore, India, Thailand and Korea there will be a subsequent rise in the number of foreign tourist arrivals.
Some Points From Table Of Content: -
Chapter 5. Aircraft Lightning Protection Market, By End User
5.1. Aircraft lightning protection market share by arrangement, 2018 & 2026
5.2. Civil
5.2.1. Market estimates and forecast, 2016-2026
5.2.2. Market estimates and forecast, by region, 2016-2026
5.3. Military
5.3.1. Market estimates and forecast, 2016-2026
5.3.2. Market estimates and forecast, by region, 2016-2026
Chapter 6. Aircraft Lightning Protection Market, By Aircraft
6.1. Aircraft lightning protection market share by aircraft, 2018 & 2026
6.2. Commercial Aircraft
6.2.1. Market estimates and forecast, 2016-2026
6.2.2. Market estimates and forecast, by region, 2016-2026
6.3. Regional Jet
6.3.1. Market estimates and forecast, 2016-2026
6.3.2. Market estimates and forecast, by region, 2016-2026
6.4. Business Jet
6.4.1. Market estimates and forecast, 2016-2026
6.4.2. Market estimates and forecast, by region, 2016-2026
6.5. Helicopter
6.5.1. Market estimates and forecast, 2016-2026
6.5.2. Market estimates and forecast, by region, 2016-2026
6.6. Military Aircraft
6.6.1. Market estimates and forecast, 2016-2026
6.6.2. Market estimates and forecast, by region, 2016-2026
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Aircraft Lightning Protection Market Will Grow at a Healthy CAGR by 2026 Profiling Honeywell, Cobham, Saab, TE Connectivity, L3 Technologies, the Gill Corporation
Rising customer inclination toward air travel due to it being a safer, faster and cost-effective travel option would drive aircraft lightning protection market outlook in the coming years