Global Aircraft Lightning Protection Market Set For 10.5% Growth, Reaching $7.83 Billion By 2028

Aircraft Lightning Protection Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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What's the projection for the Aircraft Lightning Protection Market size?²
The global aircraft lightning protection market has been growing rapidly in recent years, with the market size expected to shoot up from $4.7 billion in 2023 to $5.25 billion in 2024, reflecting an impressive compound annual growth rate CAGR of 11.6%. The integration of sensors and detection systems, focus on climate resilience due to severe weather events, increasing R&D investments, and heightened air traffic have been instrumental in this robust growth.

Looking ahead, the market size is slated for even more rapid growth. By 2028, it is projected to be worth $7.83 billion, growing at a CAGR of 10.5%. Lightweight solutions, automation and sensor integration, globalization-led industry growth, R&D investment in lightning protection, and enhanced focus on climate resilience will contribute to the growth in the forecast period. Technological advancements, including the development of advanced materials, stringent safety regulations, and continuous research and development efforts, are some of the major trends anticipated during the forecast period.

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What are the key drivers propelling the Aircraft Lightning Protection Market growth?
One key driver that's expected to fuel the aircraft lightning protection market's growth is the increasing cost-effectiveness of air travel. As flying becomes more affordable, more consumers are opting to fly more frequently. This trend leads to an increase in the manufacture of aircraft, thus propelling the growth of the aircraft lightning protection global market. For instance, in 2021, Frontier Airlines ran a buy-one, get-one promotion, and JetBlue Airways conducted a three-day sale offering fares as low as $49 one-way from New York. Also, Hawaiian Airlines were offering round-trip airfares between Hawaii and the West Coast starting from a nominal $123. The increasing demand for such cost-effective travel options is expected to boost the growth of the aircraft lightning protection market.

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Who are the key players shaping the Aircraft Lightning Protection Global Market Landscape?
Several prominent companies operate in the aircraft lightning protection market. These include United Parcel Service Inc., The Boeing Company, Airbus SE, Honeywell International Inc., PPG Industries Inc., L3Harris Technologies Inc., Leonardo S.p.A., TE Connectivity Ltd., Textron Inc., Amphenol Corporation, Gulfstream Aerospace Corporation, Microchip Technology Inc., Dassault Aviation SA, Bombardier Inc., Embraer S.A., Saab AB, Cobham plc, Ultra Electronics Holdings plc, LORD Corporation, National Technical Systems Inc., The Gill Corporation, WireMasters Inc., Dayton-Granger Inc., Technical Fibre Products Limited, Dexmet Corporation, Lightning Technologies Inc., LSP Technologies Inc., Avidyne Corporation, AstroSeal Products Manufacturing Inc., Pinnacle Lightning Protection LLC.

What are the Emerging Trends in the Aircraft Lightning Protection Market?³
A key trend gaining momentum in the market is the growing adoption of lightning sensor systems. These are electric field sensors on aircraft that continuously monitor their electrical environment. With the help of onboard algorithms, these systems can determine the risk of a lightning strike, thus helping to improve safety. For instance, Honeywell’s lightning sensor system, the LSZ-860, can detect areas of lightning activity within a 200-nautical mile radius around the aircraft.

How is the Aircraft Lightning Protection Market Segmented?
The aircraft lightning protection market has been segmented into:

1By Application: Lightning Protection, Lightning Detection & Warning, Static Wicks, Expanded Metal Foils, Transient Voltage Suppressors, Test Service
2 By Fit: Line Fit, Retrofit
3 By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles UAVs

In terms of geographical demarcation, North America was the largest region in the aircraft lightning protection market in 2023 and is also projected to be the fastest-growing region in the forecast period. Other regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.

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