Market Overview
The rapid growth of the need for electronics in aviation systems and the growing demand for new aircraft deliveries have contributed significantly to the expansion of the aircraft lightning protection market. In addition, stringent aviation regulations regarding aircraft safety are also expected to drive market growth. Additionally, the emergence of new aircraft OEMs in the Asia Pacific region is expected to stimulate demand for aircraft lightning protection systems.
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Competitive Landscape
Cobham Limited (UK)
Saab AB (Sweden)
Honeywell International, Inc. ( United States)
L3Harris Technologies, Inc. (United States)
Microsemi (USA)
TE Connectivity (Switzerland)
Dayton-Granger, Inc. (United States)
Engineered Materials PPG (USA)
Astroseal Products Manufacturing Corp. (USA)
Market Segmentation
The lightning protection segment is expected to be the fastest growing: the lightning protection segment is expected to record the highest CAGR during the forecast period, 2020 to 2026. Lightning protection systems they are reliable and are made from high performance protection products that can withstand severe environmental conditions. Aircraft lightning protection systems are widely used in the military and aerospace industries to provide increased safety to the aircraft.
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Regional Analysis
Fixed-wing segment dominated the market in 2019: Fixed-wing segment dominated the market in 2019. The growth can be attributed to factors such as the increase in air travel, the increase in disposable income levels of the population of the middle class and international trade and tourism growth around the world. Strong growth in this sector has led to an increasing number of aircraft orders to cope with the growing air passenger traffic. Manufacturers are currently focused on developing aircraft lightning protection systems and components to provide greater safety for passengers and crew.
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