Aircraft Radome Market Is Booming Worldwide Scrutinized In New Research, 2025
According to the new research report published by The Insight Partners, titled “The global 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.
The modern aircraft radome manufactures need to provide the latest low dielectric prepregs, which offer low moisture absorption, low dielectric constant properties and low loss tangent among others. This are achieved by syntactic foams, liquid resin systems, and cyanate ester and epoxy based prepregs, and the combination of these composite materials eliminates conductive graphite from dielectric material, resulting in ensured electrically pure products with higher quality. Attributing to these benefits of quartz fiber over glass fiber, the demand for quartz fiber is increasing substantially among the commercial airlines as well as the defense forces across the globe, which is leading the market for aircraft radome to escalate significantly during the forecast period.
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.
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2017, Meggitt Polymers & Composites, was awarded a contract with aircraft manufacturer Embraer, for the design and production of a high performance radome assembly for in-flight connectivity (IFC).
- In 2017, NORDAM announced that the company and China Airlines have signed a joint venture agreement to establish NORDAM Asia Limited, a company to repair and overhaul structural aircraft components for the China Airlines fleet and for other airlines in the Asia-Pacific region.
- In 2017, Orbital ATK announced expansion of its Beavercreek, Ohio, facility by 40,000 square feet in 2017-2018 with a capital investment of approximately $5 million.
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.
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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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