The Aircraft Lightning Protection Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aircraft Lightning Protection Global Market Report 2024, The aircraft lightning protection market size has grown rapidly in recent years. It will grow from $4.7 billion in 2023 to $5.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to integration of sensors and detection systems, climate resilience and severe weather events, research and development focus, increase in air traffic.
The aircraft lightning protection market size is expected to see rapid growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to market demand for lightweight solutions, automation and sensor integration, globalization and industry growth, R&D investment in lightning protection, focus on climate resilience. Major trends in the forecast period include advanced material development, stringent safety regulations, advancements in aircraft technology, research and development efforts.
Cost-effective air travel is expected to boost the growth of the aircraft lightning protection market. With the increasing cost-effectiveness of flights, more consumers are opting to fly often, this leads to an increase in the manufacturing of aircraft, ultimately propelling the growth of the aircraft lightning protection global market. For instance, in 2021, Frontier Airlines ran a buy-one, get-one promotion, and JetBlue Airways had conducted a three-day sale with fares starting as low as $49 one-way from New York. Moreover, Hawaiian Airlines were offering round-trip airfares between Hawaii and the West Coast for as little as $123. Thus, demand for cost-effective air travel is expected boost to the growth of the aircraft lightning protection market.
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The aircraft lightning protection market covered in this report is segmented –
1)By Application: Lightning Protection, Lightning Detection & Warning, Static Wicks, Expanded Metal Foils, Transient Voltage Suppressors, Test Service
2) By Fit: Line Fit, Retrofit
3) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs)
Major companies operating in the aircraft lightning protection market are focusing on strategic collaboration to provide innovative solutions and ensure superior safety standards. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities that work together to achieve shared goals aligned with their individual strategic objectives. For instance, in August 2022, Rayong Engineering and Plant Service Co. Ltd., a Thailand-based industrial solutions provider, collaborated with Critical Facility (Thailand) Co. Ltd., a Thailand-based provider of lightning protection technologies for industrial and commercial enterprises. Through this collaboration, companies will deliver an advanced integrated lightning protection solution to elevate safety standards for operators in industrial plants and prevent damage to equipment and machinery, which may result in operational disruptions. The service will be offered to customers across major industries, such as petrochemicals and chemicals, energy, food, beverages, and medicine, packaging, automotive, and electronics, in various countries in Southeast Asia, from Thailand, Vietnam, Indonesia, and Cambodia to the Lao People’s Democratic Republic.
The aircraft lightning protection market report table of contents includes:
1. Executive Summary
2. Aircraft Lightning Protection Market Characteristics
3. Aircraft Lightning Protection Market Trends And Strategies
4.Aircraft Lightning Protection Impact Of COVID-19
5.Aircraft Lightning Protection Market Size And Growth
6.Aircraft Lightning Protection Segmentation
7.Aircraft Lightning Protection Regional And Country Analysis
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27.Aircraft Lightning Protection Competitive Landscape And Company Profiles
28.Aircraft Lightning Protection Key Mergers And Acquisitions
29.Aircraft Lightning Protection Future Outlook and Potential Analysis
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