According to the new research report published by The Insight Partners, titled “Aircraft Radome Market - Global Analysis and Forecast to 2025”, The global aircraft radome market is expected to grow at a CAGR of 7.2% during the forecast period 2017 – 2025, to account to US$741.47 Mn by 2025.
The market for aircraft radome market is influenced by various factors such as rise in demand for air travel, and increasing demand for quartz fiber. These factors are poised to drive the market for aircraft radome during the forecast period from 2017 to 2025. In 2017, Asia Pacific accounted for the largest revenue share in the aircraft radome market. Also, Europe region is expected to closely compete for market share with Asia Pacific during the entire forecast period owing to the large number of Aircraft both commercial and defense concentrated in Asia Pacific and Europe.
Europe is the fastest growing region in the aircraft radome market during the forecast period from 2017 to 2025. The growth is attributed to the fact that commercial airlines in the region are increasing at a rapid rate, resulting in demand for technologically advanced composites in the aircrafts, in order to provide enhanced protection to the radar and flight control surfaces from external influences. Another factor bolstering the market for aircraft radome in the region is the surging defense expenditure in order to procure robust technologies which includes aircraft radome manufactured with enhanced technology materials. Moreover, different companies in the region along with various research and development organizations are developing aircraft radome. These factors are helping the aircraft radome market to surge at a peak rate in the region.
Key findings of the study:
Asia Pacific is anticipated to account the largest aircraft radome market share
Based on the design type, the nose radome is projected to dominate the aircraft radome market
Glass fiber led the aircraft radome market by material type in 2017
Based on the aircraft type, the commercial aircraft is projected to dominate the aircraft radome market
Some of the key industry players operating in the field of aircraft radome across the globe include Airbus (France), General Dynamics Corporation (United States), Jenoptik AG (Germany), Orbital ATK (United States), Saint Gobain (France), Starwin Industries (United States), Vermont Composites Inc. (United States), Meggitt PLC (United Kingdom), Nordam Group Inc. (United States), and Kitsap Composites (United States) among others.
The aircraft radome industry consists of huge numbers of well-established and well recognized players. The rivalry among the industry participants is high and is expected to remain high during the forecast period from 2017 to 2025. Due to the specifications set by International Civil Aviation Organization, and Federal Aviation Administration, the products are similar to each other. Owing to this factor, the competitors try to secure more and more contracts from the aircraft manufacturers, in order to maintain their market position.
The well-established suppliers of aircraft radome such as Airbus, General Dynamics Corporation, Orbital ATK, and Jenoptik among others are financially balanced and due to their recognition in the industry, the majority of contracts are awarded to these manufacturers. This increases the rivalry among the aircraft radome manufacturers.
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