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(I-TravelNewswire.Com, February 26, 2019 ) Europe is fastest growing region in the aircraft radome market during the forecast period from 2017 to 2025. The growth is attributed to the fact that commercial airlines in the region are increasing at a rapid rate, resulting in demand for technologically advanced composites in the aircrafts, in order to provide enhanced protection to the radar and flight control surfaces from external influences. Another factor bolstering the market for aircraft radome in the region is the surging defense expenditure in order to procure robust technologies which includes aircraft radome manufactured with enhanced technology materials. Moreover, different companies in the region along with various research and development organizations are developing aircraft radome. These factors are helping the aircraft radome market to surge at a peak rate in the region.
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Radomes are highly capital intensive products. They require high precisions in manufacturing and also huge research and development costs are incurred in their developments as they are extremely critical to the aircraft communication operations. The most significant factors that have impacted the growth of this industry are increasing population in the middle class and increase in the affordability levels resulting in more passengers opting for air travel. The growing population using air transport for commuting purposes demands for increase in the fleets of aircrafts. Over the years the aircraft radome industry has experienced occasional highs and lows as a result of the changes in economy, weather conditions and the interest from new investors.
Major market initiatives were observed in the Europe region. Equipment manufacturers in Europe are looking out for innovations, so as to mitigate the various obstacles. The market for aircraft radome globally is a consolidated one where the top 5 companies operating in this market amounting to large portion of the entire market. Many radome manufacturers invest huge amounts of R&D expenses and innovative methods in their manufacturing processes to optimize manufacturing costs and increase their profitability for the operating business model.
Some of the global key players operating in the aircraft radome market are Jenoptik AG, Saint-Gobain, Orbital ATK, General Dynamics Corporation and Airbus S.A.S. Also, Meggitt PLC, NORDAM Group Inc., Starwin Industries, Vermont Composites and Kitsap Composites are other key companies in this market.
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com
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