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.
Pegged at a modest $2.5 billion in 2017, global aircraft lightning protection market is projected to witness rapid growth over 2018-2024. Robust advancements in aircraft design coupled with the increasing need of conducting maintenance operations for aircraft fleet to comply with modern safety standards have been major factors driving the growth prospects of this industry. The last recorded fatal incident where a lightning strike caused a serious accident was in 1967, when a lightning bolt caused the airplane fuel tank to explode. Since then, numerous protection techniques have been developed and implemented with airplanes now going through a series of rigorous certification tests that verify safety measures. These safety certifications are not only perpetually fueling the aircraft lightning protection market but are also responsible for boosting the research and development efforts in the recent times.
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In order to cut down the excess weight and fuel consumption, aircraft manufacturers have been incorporating composite materials in the structural parts of the airplanes. One of the prominent examples of this trend is the Juno project by Haydale which recently developed the world’s first Graphene Skinned Plane that provides significantly improved lightning-strike protection while cutting down on aircraft weight. Reportedly, the electrical conductivity of these composites has been improved significantly for lightning-strike protection by incorporating functionalized nanoparticles into epoxy resins. In addition to the development of such high-grade airplanes, numerous industry heavyweights such as Airbus have kickstarted their own research and development initiatives which will propel the aircraft lightning protection market trends in the years ahead.
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.
Aircraft lightning protection market participants include Microsemi Corporation, Cobham, Saywell, Dexmet Corporation, The Gill Corporation, L3 Aviation Products and Honeywell. Other notable players are Saab, Dayton Granger, The Expanded Metal Company, Wire Masters, TE Connectivity, Benmetal, Exel Group, Niles Expanded Metal, Astroseal Products, Avidyne, and Proteck devices. Companies are focusing on launching advanced products for improving market position. For instance, in 2015, Dexmet Corporation launched thinner expanded foils for usage in high performing applications.
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Glimpse of Table of Content (ToC)
Chapter 3. Aircraft Lightning Protection Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.3.5. Vendor matrix
3.4. Technology landscape
3.5. Regulatory landscape
3.5.1. North America
3.5.3. Asia Pacific
3.5.4. Latin America
3.6. Industry impact forces
3.6.1. Growth drivers
188.8.131.52. North America
184.108.40.206. Asia Pacific
220.127.116.11. Latin America
3.6.2. Industry pitfalls & challenges
3.7. Innovation & sustainability
3.8. Growth potential analysis
3.9. Porter’s analysis
3.10. Company market share analysis, 2017
3.10.1. Top players analysis
3.10.2. Strategy dashboard
3.11. PESTEL analysis
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