Aerospace Lightning Strike Protection Market Size
Aerospace Lightning Strike Protection Market size is projected to experience a healthy growth during 2024 to 2032, driven by the rising need to improve the safety features of airplanes.
In 2023, the number of people flying around the world skyrocketed by over 36% compared to the year before, according to an organization called IATA. This means that almost as many people were traveling by plane as before the pandemic hit in 2019. More and more people want to travel by air because they have more money to spend and want to visit new places for vacation or work. This has sparked a surge in sales of lightning strike protection systems, which are essential for keeping planes safe when they fly through thunderstorms. Airlines are also buying more planes and making them better, so they need more of these systems to ensure the safety of their passengers and crew.
Aerospace Lightning Strike Protection Market Trends
Advancements in materials science, sensor technology, and computational modeling have enabled the development of more advanced and efficient lightning protection systems for aerospace applications. These advancements have led to the introduction of innovative solutions such as conductive coatings, embedded sensors, and predictive modeling techniques, offering improved lightning protection performance, reduced maintenance requirements, and enhanced operational reliability. The trend towards incorporating the latest technologies into the aerospace operation will augment the market outlook in the coming years.
Aerospace Lightning Strike Protection Market Analysis
The retrofit segment is poised to witness significant growth till 2032, as airlines and aircraft operators strive to enhance the safety and performance of their existing fleets. These solutions offer a cost-effective means to upgrade legacy aircraft, ensuring compliance with evolving safety regulations while extending the operational lifespan of aging fleets. As airlines seek to modernize their aircraft fleets and mitigate operational risks associated with lightning strikes, the demand for protection systems from retrofit segment will increase.
The commercial aircraft application segment is poised to grow substantially through 2032, driven by a burgeoning air travel demand and the continuous expansion of commercial aviation networks. Lightning strike poses a significant operational hazard for commercial aircraft, potentially causing disruptions, damage, and safety concerns. As a result, aircraft manufacturers and operators are investing in advanced lightning protection technologies to safeguard passengers, crew, and critical onboard systems, favoring the segment growth.
North America aerospace lightning strike protection market is anticipated to showcase a decent growth trajectory over 2024 and 2032, driven by the presence of leading aircraft manufacturers, technological innovators, and stringent regulatory frameworks. The region boasts a robust aerospace sector characterized by extensive R&D activities, fostering the continuous evolution of lightning protection solutions. Moreover, the substantial fleet size of commercial and military aircrafts in North America, coupled with the region's susceptibility to severe weather conditions, underscores the critical importance of effective lightning protection measures.
Aerospace Lightning Strike Protection Market Share
- LORD Corporation (Parker Hannifin)
- Henkel
- Arconic
- Hollingsworth & Vose Company
- Wallner tooling/EXPAC
- Lightning Diversion System
- Boeing
- Dexmet Corporation
are major companies operating in the market. These organizations are inking partnerships and merger & acquisition deals with other firms to expand their product & service portfolios and strengthen their business capabilities.
Aerospace Lightning Strike Protection Industry News
- In 2022, Ducommun Incorporated acquires Lightning Diversion Systems (LDS) and subsidiary, boosting lightning protection for wind turbines and OEMs.
What Information does this report contain?
Historical data coverage 2018 to 2023; Growth Projections 2024 to 2032.
Expert analysis industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts major segments covering applications, top products and geographies.
Competitive landscape reporting market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
