Home > Aerospace & Defense > Aerospace Lightning Strike Protection Market
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.
According to IATA, in 2023, the overall traffic volume, measured in revenue passenger kilometers (RPKs), surged by 36.9% compared to the previous year. On a global scale, the total traffic for the full year of 2023 reached 94.1% of the pre-pandemic levels observed in 2019. The industry is witnessing significant growth, driven by increasing air travel demand, rising disposable incomes, and expanding tourism and business travel. With airlines investing in fleet expansion and modernization programs, there is a growing need for reliable lightning protection systems to ensure the safety and reliability of aircraft operations, thereby impelling the sales of lightning strike protection systems.
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.