Northbrook, IL 60062 -- (SBWire) -- 05/17/2023 --The global aircraft transparencies market is estimated to be USD 1.6 billion in 2023 and expected to reach USD 2.3 billion by 2028 at a CAGR of 7.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. The global driver of the aircraft transparencies market is fueled by increasing air passenger traffic and the demand for new aircraft worldwide. Advancements in materials and technology, including lightweight polymers and improved optical properties, play a significant role in driving market growth. Additionally, the emphasis on safety regulations, regulatory compliance, and the pursuit of fuel efficiency and sustainability further propel the demand for aircraft transparencies on a global scale.
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The aftermarket segment is projected to witness the highest CAGR during the forecast period.
Based on end-use, the aftermarket segment of the aircraft transparencies industry is projected to hold the highest growth rate during the forecast period. Aftermarket segment in the aircraft transparencies market is expected to experience significant growth due to aging aircraft age, their components, including transparencies, require maintenance, repair, or replacement. Many older aircraft are still in service and will need aftermarket transparencies to address wear and tear, delamination, scratches, or other damage over time. The need to maintain and extend the lifespan of these aircraft drives the demand for aftermarket transparencies.
The commercial aviation segment is projected to dominate the aircraft transparencies market by frequency.
Based on aircraft type, the commercial aviation segment is projected to dominate the market share during the forecast period. This is primarily due to the factors such as increasing air passenger traffic, fleet modernization efforts, and the demand for enhanced passenger experience. The commercial aviation sector's focus on fuel efficiency, regulatory compliance, and technological advancements contributes to its strong growth prospects in the aircraft transparencies market.
The windows segment of the aircraft transparencies market by application is projected to dominate the market.
The aircraft transparencies marketed based on the application is segmented into windows, windshields, canopies, landing lights & wingtip lenses, chin bubbles, cabin interiors, and skylights. The windows segment is projected to experience a higher growth rate in the aircraft transparencies market. This can be attributed to factors such as the emphasis on passenger experience and comfort, technological advancements in window technologies, retrofitting activities, and the expansion of the business jet market. The increasing demand for larger windows, improved optical clarity, and enhanced safety features contribute to the strong growth prospects of the window segment in the aircraft transparencies market.
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North America is expected to account for the largest share in 2023.
The aircraft transparencies market industry has been studied in North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The North America region to account for the largest market share. This can be attributed to the strong presence of the aerospace industry, extensive airline network, and increasing demand for new aircraft in the region. The emphasis on technological advancements, regulatory compliance, and retrofitting activities further contribute to the growth prospects of the aircraft transparencies market in North America.
Major players operating in the aircraft transparencies companies are PPG Industries, Inc. (US), GKN Aerospace (UK), Saint-Gobain (France), General Electric Company (US), and Gentex Corporation (US) among others are some of the market players.
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Aircraft Transparencies Market Worth $2.3 Billion by 2028