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(I-TravelNewswire.Com, June 08, 2018 ) The report "Aircraft Lightning Protection Market by Application (Test Service, Lightning Detection & Warning, Lightning Protection), Aircraft Type (Fixed-wing, Rotary-wing, UAVs), End User (Civil, Military), Fit (Linefit, Retrofit), Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 4.10 Billion in 2017 to USD 5.52 Billion by 2022, at a CAGR of 6.13% between 2017 and 2022.
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Increased number of orders for new aircraft across the globe and increase in demand for more electric aircraft and glass cockpit are major factors driving the aircraft lightning protection market.
Based on application, the lightning protection segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the lightning protection segment of the aircraft lightning protection market is projected to grow at the highest CAGR during the forecast period. Lightning protection comprises different components, such as static wicks, transient voltage suppressors, and expanded metal foils. These components help in reducing the extent of damage caused due to lightning strikes on the aircraft.
Based on end user, the civil segment is projected to grow at a higher CAGR during the forecast period.
Based on end user, the civil segment of the aircraft lightning protection market is estimated to grow at the highest rate during the forecast period. The growth of this segment can be attributed to the civil aviation industry has been witnessing growth over the past few years, owing to increase in air travel and rise in disposable income of the middle-class population. Increase in demand for passenger and cargo flights is one of the most significant factors projected to drive the demand for aircraft lightning protection devices.
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The retrofit segment is expected to grow at a higher CAGR during the forecast period.
The retrofit segment of the aircraft lightning protection market is projected to grow at a higher CAGR as compared to the linefit segment during the forecast period. The higher growth rate of the retrofit segment can be attributed to the modification/upgradation of an aircraft during overhaul period. Major airline companies are focused on retrofitting the aging fleets of commercial aircraft.
Based on aircraft type, the UAVs segment is estimated to grow at the highest CAGR during the forecast period
Based on aircraft type, the UAVs segment is projected to grow at a higher CAGR during the forecast period. The 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. UAVs have less demanding flight profile, lifetime, and environmental requirements than manned aircraft and hence, the aircraft lightning protection used in UAVs are smaller in number and of lower mass as compared to those used in manned aircraft.
The aircraft lightning protection market in Asia Pacific is expected to witness the highest growth during the forecast period.
The aircraft lightning protection market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. The aviation industry is growing at a significant rate due to increasing air passenger traffic and improving economic conditions of the region. The growth in air passenger traffic has resulted in an increased demand for new lightweight and fuel-efficient aircraft from the region. In addition, emerging aircraft manufacturers in China, Japan, and India are expected to fuel the demand for aircraft lightning protection during the forecast period.
Major companies profiled in the aircraft lightning protection market report are Cobham (UK), Saab (Sweden), Honeywell (US), L3 Technologies (US), Microsemi Corporation (US), TE Connectivity (Switzerland), Dayton-Granger (US), Dexmet (US), Astroseal Products (US), Pinnacle lighting protection (US), Avidyne (US), and National Technical Systems (US).
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