USD 8.3 Billion Growth in Aircraft Lightning Protection Market Size - Industry Analysis, Market Trends, Market Growth, Opportunities: Facts and Factors

NEW YORK, April 21, 2023 /PRNewswire/ -- As per Facts and Factors study, the global aircraft lightning protection market size was worth around USD 3.1 billion in 2021 and is predicted to grow to around USD 8.3 billion by 2030 with a compound annual growth rate (CAGR) of roughly 3.21% between 2022 and 2030.

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Aircraft Lightning Protection Market: Overview

Aircraft fly at high altitudes and under extreme weather conditions. They are more prone to get struck by lightning than any other object. To prevent the destruction of the aircraft and the passenger, manufacturers use high-grade lightning protection techniques for smooth and accident-free flights. As per studies, aircraft are known to trigger lightning when they fly across regions that are heavily charged. In such situations, lightning is known to originate in the airplane further extending in opposite directions.

Aircraft that are small in size register less number of cases of getting struck by lightning as opposed to larger fleets of aircraft. The passengers in the plane generally hear only a loud noise or a flash of lightning but the artifacts remain generally unaffected due to the use of correct protection methods. Most airplanes are made of aluminum which conducts electricity easily. Getting damaged by lightning can be prevented by making sure that there are no gaps in the pathway that conducts the electricity on the airplane skin. This will make sure that most of the lightning components remain on the exterior of the skin and do not enter the aircraft. Modern aircraft are equipped with advanced digital systems and miles of wires that are responsible for controlling every aspect of the plane including passenger headsets to the plane engine.

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Key Insights:

• As per the analysis shared by our research analyst, the global aircraft lightning protection market is estimated to grow annually at a CAGR of around 3.21% over the forecast period (2022-2030)
• In terms of revenue, the global aircraft lightning protection market size was valued at around USD 3.1 billion in 2021 and is projected to reach USD 8.3 billion, by 2030.
• The market is projected to grow at a significant rate due to the increasing use of composite material in aircraft manufacturing
• Based on end-user segmentation, the commercial was predicted to show maximum market share in the year 2021
• Based on aircraft type segmentation, fixed-wing aircraft were the leading type in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Facts and Factors published the latest report titled "Aircraft Lightning Protection Market Size, Share, Growth Analysis Report By End-User (Military and Commercial), By Application Type (Lightning Detection & Warning, Test Service, and Lightning Protection), By Aircraft Type (Rotary-Wing Aircraft, Fixed-Wing Aircraft, and Unmanned Aerial Vehicles), By Fit Type (Retrofit and Linefit), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" into their research database.

Industry Dynamics:

Global Aircraft Lightning Protection Market: Growth Drivers

• Increasing use of composites to drive market demand.

The global aircraft lightning protection market is projected to grow owing to the growing market penetration of composites in the aviation industry. Composites are created by using 2 or more types of materials that have extremely different chemical and physical properties. When these materials combine, they create a new structure that has enhanced properties and can function better than the basic products. One of the most popular forms of composites used in the aviation industry is carbon fiber-reinforced polymer (CFRP).

These composites are light yet strong plastics reinforced with fiber-like qualities. Due to attractive properties like excellent strength-to-weight ratio and higher rigidity, airplanes manufactured using composites are a way of sustainable growth in the sector. Composites are known to be less conductive as compared to aluminum which means they can be used to manufacture aircraft that offer higher safety against lightning. For added protection, composites are created using an embedded layer of fiber or screen that are conductive and are used to carry the currents produced due to lightning. 

Global Aircraft Lightning Protection Market: Restraints

• High cost to restrict market expansion.

Employing aircraft lightning protection systems can turn out to be a costly affair increasing the overall expenditure of operating commercial flights. For instance, composites, even highly recommended, are expensive and their price is way higher than the cost of using other metal forms to manufacture aircraft. The cost of composites is highly sensitive to the price of raw materials used and labor resources. Even though they ease the process of manufacturing aircraft and deliver high performance, small firms operating in the aviation industry may not be able to afford to invest in the use of such materials or systems.

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Aircraft Lightning Protection Market: Opportunity

• Growing investment in military-grade aircraft to provide excellent growth opportunities.

The global aircraft lightning protection market is projected to witness higher growth opportunities owing to the increasing investments in aircraft used for military purposes. The trend has gained higher momentum due to the current changing political dynamics influenced by the Russia-Ukraine war and the methods employed by regional governments to gain control over other vulnerable nations. In June 2022, the Russian government announced that it will spend more than USD 14 billion on the country's aviation industry to boost regional aircraft production.

Aircraft Lightning Protection Market: Challenges

• Complexities associated with the use of lightning protection to challenge market penetration.

Every region has its own set of rules that define the legalities behind the use of different types of lighting protection systems. The process of installing the systems in itself is complex and with added issues of maintaining or operating certain lightning protection systems further discourage global market growth. Added challenges due to the ongoing backlog related to the timely delivery of aircraft may hamper the generation of more revenue.

Global Aircraft Lightning Protection Market: Segmentation

• The global aircraft lightning protection market is segmented based on end-user, application type, aircraft type, fit type, and region.

Based on end-user, the global market is segmented into military and commercial. In the past, the commercial or the civil sector has registered the highest growth rate owing to the growing commercial aviation industry. As the demand for safe and quick transport modes has increased with a growing population, standard of living and higher disposable income, the investments in the commercial sector have grown multifold. As of May 2021, India, a growing economy, crossed the mark of 700 commercial planes. The total count has grown by 21 within a year. Globalization has also positively impacted the growth of the commercial segment as airlines try and give services even in remote locations.

Based on aircraft type, the global market divisions are rotary-wing aircraft, fixed-wing aircraft, and unmanned aerial vehicles. The highest Growth was registered in the fixed-wing aircraft segment in 2021 and may continue the same trend in the coming years due to the growing demand in the commercial segment. The Chinese commercial segment registered sales of USD 13.49 billion in 2021.

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List of Key Players in Aircraft Lightning Protection Market:

• DexmetCorporation
• Cobhamplc
• Dayton-Granger
• HoneywellInternational
• PinnacleLightningProtection.

Key questions answered in this report:

• What are the growth rate forecast and market size for AIRCRAFT LIGHTNING PROTECTION Market?
• What are the key driving factors propelling the AIRCRAFT LIGHTNING PROTECTION Market forward?
• What are the most important companies in the AIRCRAFT LIGHTNING PROTECTION Market Industry?
• What segments does the AIRCRAFT LIGHTNING PROTECTION Market cover?
• How can I receive a free copy of the AIRCRAFT LIGHTNING PROTECTION Market sample report and company profiles?

Report Scope:

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Regional Dominance:

• North America to hold dominance during the growth period.

The global aircraft lightning protection market is projected to be dominated by North America with the US leading with the highest regional market share. The growth may be driven by the growing investment in research & development of advanced technologies and materials to provide a safer flight experience. The US government may play a crucial role in investing heavily in the use of better systems to prevent any damage to aircraft due to lightning. The United States air force is one of the richest and most resourceful air forces across the globe. They are also one of the largest suppliers of military airplanes to other powerful nations. In April 2022, the US government allocated a budget of USD 194 billion for space and air force. As of 2021, the country had a fleet of more than 5217 fighter aircraft, the largest across the globe along with highly equipped advanced systems and technologies. 

Global Aircraft Lightning Protection Market is segmented as follows:

Aircraft Lightning Protection Market: By End-User Outlook (2023-2030)

• Military
• Commercial

Aircraft Lightning Protection Market: By Application Type Outlook (2023-2030)

• Lightning Detection & Warning
• Test Service
• Lightning Protection

Aircraft Lightning Protection Market: By Aircraft Type Outlook (2023-2030)

• Rotary-Wing Aircraft
• Fixed-Wing Aircraft
• Unmanned Aerial Vehicles

Aircraft Lightning Protection Market: By Fit Type Outlook (2023-2030)

• Retrofit
• Linefit

Aircraft Lightning Protection Market: By Region Outlook (2023-2030)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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