Up gradations and additions of aircrafts to the current fleet by various commercial aviation operators as well as military of countries across the globe is anticipated to drive implementations of aircraft radomes whose market is forecasted to grow at a CAGR of 7.2%
Published Date : 01/12/2017
According to a new market research study titled 'Aircraft Radome Market to 2025 - Global Analysis and Forecasts by Design Type, Material Type and Aircraft Type, the global aircraft radome market was valued at US$ 403.81 Mn in 2016 and is estimated to reach US$ 741.47 Mn by 2025. The report highlights the trends prevalent in the global aircraft radome market and the factors driving the market along with those that act as deterrents to its growth.
The global airspace is experiencing huge demand for air travel in terms of both military aircrafts as well as commercial aircrafts. This is leading the airlines and defense forces to procure latest technology aircrafts as well as adopt new and robust technologies in order to modernize the existing aircrafts. Modernization of existing commercial aircrafts as well as military aircraft is a major trend prevailing in the aviation industry at present. The trend is expected to surge over the period leading to huge opportunity for the aircraft component manufacturers. The modernization of aircrafts includes engine, landing gears, radars and antennas, in-flight entertainment systems, navigation systems and armaments among others. In order to secure the latest technology radar, the aircraft radome manufacturers are designing and manufacturing robust technology radome, which is increasing the interest among the commercial aircraft manufacturers as well as defense aircrafts manufacturers.
The modern radome increases the stealthy properties of an aircraft which is highly beneficial for both commercial and military aircrafts, and owing to this, the airlines and defense forces are procuring modern radome in huge numbers. Thus, the modernization of existing aircrafts is acting as a major opportunity factor for the aircraft radome manufacturers, which in turn is anticipated to bolster the market for aircraft radome in the coming years.
The global aircraft radome market has been segmented on the basis of design type into nose radome and fuselage mounted radome. Aircraft Radomes are manufactured by a variety of material composites which have been subdivided into the following major categories as glass fiber, resin and quartz. Also, aircraft radomes find their applications for commercial aircrafts and military aircrafts which constitute the aircraft type segment for this market. Geographically, the global Aircraft Radome market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The aviation industry is expected to witness a steady growth during the coming few years which in turn would have a positive influence on the implementations of aircraft radomes. Players having a firm hold in the manufacturing and distribution of aircraft radomes can look to venture into providing more advanced and innovative solutions. The key players profiled in the report are Orbital ATK, General Dynamics Corporation, Airbus S.A.S, Jenoptik AG, Kitsap Composites, Meggitt PLC, NORDM Group Inc., Saint-Gobain, Starwin Industries and Vermont Composites Inc.
Global Aircraft Radome Market Breakdown by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global aircraft radome market as follows:
Global Aircraft Radome Market - By Design Type
Fuselage Mounted Radome
Global Aircraft Radome Market - By Material Type
Global Aircraft Radome Market - By Aircraft type
Global Aircraft Radome Market - By Geography
Rest of Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)