Increasing aircrafts deliveries to fuel the growth of Aircraft Radome Market
The global Aircraft Radome Market is estimated to be valued at US$ 640.7 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Radome is a structural, weatherproof enclosure that protects a radar system or antenna and is transparent to electromagnetic waves. Radomes allow radar systems and antennas to function effectively while protecting them from harsh environmental conditions. In aircrafts, radomes provide structural integrity, aircraft aerodynamic compatibility and protection from heat, wind, and other extreme weather conditions of flight. They are made from advanced composite materials like fiberglass, graphite-epoxy, and thermoplastics. Aircraft radomes have applications in both military as well as commercial aircrafts across a wide range of aircraft platforms.
Market key trends:
One of the major trends in the aircraft radome market is the growing demand for lightweight radomes. Aircraft manufacturers are under constant pressure to reduce weight and increase fuel efficiency. This is driving the demand for advanced lightweight composite materials for radome construction. Materials like graphite-epoxy composites and thermoplastics are gaining popularity as they offer significant weight reduction over traditional materials. Another key trend is the development of 3D printed radomes. 3D printing allows for complex radome geometries that traditional manufacturing cannot achieve, unlocking performance improvements. It also offers design flexibility and potential for lightweight construction. Going forward, the military aviation sector will be a major driver of radome demand, especially with rising global defense budgets.
Porter’s Analysis
Threat of new entrants: The aircraft radome market requires high R&D investment and capabilities. New entrants will face high entry barriers.
Bargaining power of buyers: The buyers in the market include aircraft manufacturers and military forces. Their bargaining power is moderate as they source radomes from limited specialized manufacturers.
Bargaining power of suppliers: The suppliers include composite material providers and technology solution developers. Their bargaining power is moderate due to the specialized nature of supplies.
Threat of new substitutes: There are no cost-effective substitutes for radomes currently. Alternative technologies are still in development phases.
Competitive rivalry: The market is moderately competitive with the presence of global specialized manufacturers.
Key Takeaways
The global Aircraft Radome Market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period 2023 to 2030, due to increasing development of new aircraft programs.
North America dominated the aircraft radome market in 2022 due to significant presence of aircraft manufacturers and military forces in the region. Asia Pacific is expected to witness fastest growth over the forecast period owing to increasing aircraft procurement and modernization programs in China and India.
Key players operating in the aircraft radome market are General Dynamics, Airbus, Nordam, Saint-Gobain, Meggitt, Starwin Industries, Kitsap Composites, Orbital ATK, Jenoptik, Harris, Vermont Composites, Pacific Radomes, Royal Engineered Composites, AVIC, ATK, Kelvin Hughes, Raytheon, Leonardo, Ducommun, and CPI. General Dynamics and Airbus capture major market share due to their wide aircraft portfolio
Read more: https://www.ukwebwire.com/aircraft-radome-market-size-share/
AMA Research have added latest edition of survey study on Global Aircraft Radome Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis.
The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data.
The research study provides estimates for Global Aircraft Radome Forecast till 2025*.
Of late, the market players are continuously focusing on designing and developing lightweight and durable aircraft radomes that can easily transmit signals.
Market Growth DriversIncrease in the Number of Commercials as well as Military Aircrafts WorldwideTop Players are Continuously Focusing on Energy-Efficient Technology and InnovationsInfluencing TrendSurging Technological Advancement in Light Weight Material Aircraft Radome ManufacturingRestraintsStringent Regulatory Norms for Helicopter Manufacturing & Development and High Cost of HelicoptersReduced Defense Spending In Developed CountriesChallengesLack of Qualified Aircraft Radome Maintenance Technicians To comprehend Global Aircraft Radome market dynamics in the world mainly, the worldwide Aircraft Radome market is analyzed across major global regions.
AMA also provides customized specific regional and country-level reports for the following areas.
