North America leads the aircraft lightning protection market owing to the increasing production and deliveries of airplanes. Government of the U.S & Canada and FAA introduced regulations regarding the weight of empty plane which will surge the application for composite materials. Implementation of procedures regarding conductive treatment for composites will increase the product demand. Asia Pacific is expected to witness around 5% CAGR over the forecast timeframe owing to multiplying number of air passengers. Moreover, the reduction of airfare in developing economies such as India and China by the airline operators will further strengthen regional share.
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The aircraft lightning protection industry has enabled the integration of appropriate measures and protection materials to counter any damaging effects. Severe delays and costly service disruptions can be caused by lightning strikes if not equipped with protection systems, as most of the aircrafts are made of low-electricity conducting composite materials. As composite materials provide a lighter and stronger alternative to deliver a reduction in overall aircraft weight and improved fuel efficiency, the aircraft lightning protection market will witness remarkable growth in the coming years.
The civil aviation industry apportions a major chunk of the global aircraft lightning protection market – around $2 billion according to a 2017 estimate. The market size is projected to rapidly increase over the forecast period owing to growing world-trade and increase in passenger traffic. As per an IATA (International Air Transport Association) forecast, the air passenger traffic is set to reach 7.8 billion by 2036. Moreover, the association also estimates that around $17.5 billion worth of goods travel by air every day which translates to about 35% of the total world trade.
Apparently, these growing numbers in terms of air passenger traffic and world trade by air have consistently generated lucrative opportunities for aircraft manufacturers like Boeing and Airbus which have been manufacturing more aircrafts in the recent past. As per reliable estimates, the combined revenue of Boeing and Airbus stood at approximately $164.3 billion in 2016 which highlights the swift expansion of the civil aviation industry size. Needless to mention, the aircraft lightning protection market is certain to benefit from the rising prominence of the civil aviation sector over the forecast timeframe.
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Essentially driven by growing world-trade, escalating air traffic passenger figures, and a drastic increase in defense budgets of various countries, the growth prospects of the aircraft lightening protection market appear to be highly promising. In fact, according to the research report put together by Global Market Insights, Inc., the remuneration scale of aircraft lightning protection market is projected to surpass $3.5 billion by 2024.
Some Points From Table Of Content: –
Chapter 6. Aircraft Lightning Protection Market, By Aircraft
6.1. Aircraft Lightning Protection Market share by aircraft, 2017 & 2024
6.2. Commercial Aircraft
6.2.1. Market estimates and forecast, 2013-2024
6.2.2. Market estimates and forecast, by region, 2013-2024
6.3. Regional Jets
6.3.1. Market estimates and forecast, 2013-2024
6.3.2. Market estimates and forecast, by region, 2013-2024
6.4. Business Jets
6.4.1. Market estimates and forecast, 2013-2024
6.4.2. Market estimates and forecast, by region, 2013-2024
6.5.1. Market estimates and forecast, 2013-2024
6.5.2. Market estimates and forecast, by region, 2013-2024
6.6. Military Aircrafts
6.6.1. Market estimates and forecast, 2013-2024
6.6.2. Market estimates and forecast, by region, 2013-2024
Chapter 7. Aircraft Lightning Protection Market, By Fit
7.1. Aircraft Lightning Protection Industry share by distribution channel, 2017 & 2024
7.2.1. Market estimates and forecast, 2013-2024
7.2.2. Market estimates and forecast, by region, 2013-2024
7.3.1. Market estimates and forecast, 2013-2024
7.3.2. Market estimates and forecast, by region, 2013-2024
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