Aircraft Lightning Protection Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The North American region is estimated to have the highest growth rate during the forecast period, due to increasing aircraft procurement in the United States, both by the military and commercial segments. Air travel to and from the United States increased significantly over the past decade. As a result of the increasing air passenger traffic, commercial airlines in the region are investing heavily to expand their fleet with new commercial aircraft. For instance, in July 2019, Delta Air Lines ordered five Airbus A220-100 aircraft. Earlier, in 2016, Delta Air Lines had placed an order for 75 A220 aircraft and later ordered an additional 15 aircraft in December 2018. Similarly, in June 2019, American Airlines ordered 50 Airbus A321XLR aircraft, which is the new longer-ranger version of Airbus’s A321neo aircraft. The purchase agreement included the conversion of 30 American Airlines’ existing A321neo slots to A321XLRs and incremental orders for an additional 20 A321XLRs. Moreover, many other commercial airlines in the US are planning for the procurement of new commercial aircraft to extend their fleet. Such developments in the commercial segment may drive the aircraft lightning protection market in the region during the forecast period. Similarly, procurements done by the military may also drive the growth of the market. For instance, in October 2019, the US Defense Department finalized an agreement to purchase 478 additional Lockheed Martin F-35 Lightning II aircraft in a deal totaling USD 34 billion. Similarly, Canada is also planning to replace its aging fleet of CF-18. Such procurements are expected to drive the growth of the aircraft lightning protection market during the forecast period.