According to the latest report published by Variant Market Research,the global aircraft lightning protection market size is projected to reach $7.04 billion by 2025. In this report, aircraft lightning protection market forecast says that the global market is growing at a CAGR of 6.4% from 2017 to 2025. By geography, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Aircraft lightning protection on airplanes is used to avoid delays and interruptions as well as to reduce the significance of the strike. Lightning strikes to entry and exit points almost simultaneously and most commonly attack the wingtips, engine cowlings, nose, and tip of the vertical tail.
Aircraft Lightning Protection Market (By Aircraft Type: Fixed-Wing Aircraft, Rotary-Wing Aircraft, and Unmanned Aerial Vehicles; By Fit: Linefit, and Retrofit; By Application: Lightning Detection & Warning, Lightning Protection, and Test Service; By End-User: Military, and Civil; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025
Increasing adoption of composite structures in aircraft program drives the global aircraft lightning protection market
The global aircraft lightning protection market trend includes increasing adoption of composite structures in aircraft program, and high acceptance from military, regional, and commercial aircrafts manufacturers due to aircraft protection. However, formulation of stringent regulatory norms is the major restraint for the global aircraft lightning protection market growth. Moreover, emergence of new aircraft manufacturers in Asia-Pacific is expected to provide lucrative growth opportunities for the market in the coming years.
Aircraft type, fit, application, end-user, and geography are the segments of the global aircraft lightning protection market. The aircraft type segment is classified into fixed-wing aircraft (narrow body aircraft, wide body aircraft, business aircraft, very large aircraft, regional transport aircraft, fighter aircraft, light aircraft, military transport aircraft, and fighter jets), rotary-wing aircraft (military helicopters, and civil helicopters), and unmanned aerial vehicles. Fit segment comprises linefit and retrofit. The application segment includes lightning protection (expanded metal foils, static wicks, transient voltage suppressors), lightning detection warning, and test service. Furthermore, civil, and military are covered under the end-user segment.
Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., Mexico, and Canada), Europe (France, UK, Russia, Germany, Italy, and Rest of Europe), Asia-Pacific (India, Japan, China, South Korea, and Rest of Asia-Pacific) and RoW (South America, Middle East, and Africa) are the key geographical regions included in this market.
UAVs, by aircraft type anticipated to grow at the highest CAGR between forecast period
On the basis of aircraft type, UAVs is expected to grow with fastest CAGR owing to less demanding flight profile, lifetime, and environmental requirements than manned aircraft. Moreover, UAVs segment has witnessed significant growth in the past few years due to increasing applicability of UAVs in the commercial and defense sectors has boosted the aircraft lightning protection market.
Retrofit, is anticipated to gain the fastest CAGR between 2017 and 2025
Based on fit segment, retro fit segment is projected to attain the fastest CAGR over the forecast period. The high growth in the segment can be seen to the upgradation and modification of an aircraft during overhaul period, and key companies are dedicated on retro fitting the aging fleets of commercial aircraft. Moreover, line fit is estimated to dominate the segment with major aircraft lightning protection market share.
Lightning protection, by application anticipated to gain the fastest CAGR between 2017 and 2025
On the basis of application, lightning protection segment is expected to achieve the fastest CAGR during the forecast period. The growth of this segment is attributed to the fact that various components of lightning protection including static wicks, expanded metal foils, & transient voltage suppressors help in decreasing the extent of damage produced due to lightning strikes on the aircraft.
Civil, by end user is projected to grow with highest CAGR over the forecast period
Civil, by end user is projected to grow with highest CAGR over the forecast period, owing to growing civil aviation industry, due to rising air travel coupled with increased disposable income of the middle-class population.
Asia-Pacific is anticipated to be the fastest growing market during the forecast period
Asia-Pacific is likely to attain the fastest CAGR throughout the forecast period, driven by factors such as increasing air passenger traffic and improving economic conditions of the region. In addition, emerging aircraft manufacturers in India, China, and Japan, are estimated to propel the demand for aircraft lightning protection in the coming years.
The key players profiled in the report include Henkel AG & Co. KGaA, LORD Corporation, Arconic, Wallner tooling/EXPAC, Astroseal Products Manufacturing Corp., Lighting Diversion System, GKD – GEBR. Kufferath AG, Dexmet Corporation, Hollingsworth & Vose Company, and Niles Expanded Metals & Plastic among others.