Market Size of Aircraft Lightning Protection Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.57 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Aircraft Lightning Protection Market Analysis
The aircraft lightning protection market is anticipated to increase from USD 2.92 billion in 2022 to USD 3.56 billion in 2028, registering a CAGR of 3.57% during the forecast period.
- The COVID-19 pandemic had a significant effect on the aircraft lightning protection market. The onset of COVID-19 led to lockdowns in various countries, and this led to restrictions in terms of travel or trade between countries, leading to shortages in the end components for manufacturing aircraft cockpit systems and delays in terms of manufacturing of the end product by the original equipment manufacturers (OEMs).
- Moreover, the pandemic led to supply chain disruptions and production-related issues in the military aircraft segment. On the other hand, though the orders and deliveries of general aviation aircraft witnessed a decline during the pandemic, there is a growth in demand for helicopters and business jets to transport medical supplies, cargo charter operations, and VIP transport. This is expected to help the growth of the market.
- Aircraft are often struck by lightning, and to avoid damage, all aircraft are equipped with lightning protection materials and systems that avoid electric field concentration. With the rise in air passenger traffic, airlines are placing orders for new aircraft to expand and modernize their fleets. Likewise, several countries are striving to enhance their aerial combat and transport capabilities, resulting in new orders for military aircraft.
- Such factors are simultaneously generating demand and driving the market for aircraft lightning protection. Also, growing investments in the R&D of advanced lightning protection materials by various aerospace material supplying companies may support the growth of the aircraft lightning protection market.
