According to the research report titled ‘Aircraft Lightning Protection Market Size By Product, By End-user (Civil, Military), By Aircraft (Commercial Aircraft, Regional Jet, Business Jet, Helicopter, Military Aircraft), By Fit (Line-Fit, Retrofit), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global aircraft lightning protection market is expected to register a remarkable CAGR over the forecast period 2020-2026.
 

Increasing aircraft manufacturing and R&D for lightning protection, surging demand for low-cost carriers, business jets & defense aircraft, and rising air traffic are the primary factors propelling aircraft lightning protection market growth.
 

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Fast paced infrastructure development as well as burgeoning tourism sector are also expected to add substantial traction to industry remuneration over the upcoming years.
 

Notably, lightning strikes can interrupt crucial airline operations and might lead to service disruptions and expensive delays. The phenomenon is comparatively common but hardly results in any major impact to continuous safe operations of airplanes. Aircraft lightning protection is primarily used to avoid delays and stoppages, and to diminish the perceived effects of lightning strikes.
 

Considering the product type segmentation of aircraft lightning protection market, the static wick/grounding wire segment is slated to garner 2.5% CAGR over the assessment period, owing to its capability of enabling improved lightning charge dispersal in aircrafts.
 

Based on aircraft type, commercial aircraft segment is expected to capture 50% of the industry share over 2020-2026. This can be attributed to increasing deployment of lightning protection systems to boost passenger safety.
 

With respect to fit, retrofit segment is poised to garner 5.5% CAGR through 2026, on the back of increasing upgradation & modification activities of aircraft components.
 

Moving on to geographical scope, Europe will capture 25% of the global aircraft lightning protection industry share by the end of the forecast period. Unpredictable changes in weather and climatic conditions, including increasing frequency of lightning strikes will drive the regional market growth.
 

Prominent players in the marketplace are Niles International LLC, EXEL Industries Group, ProTek Devices, Cooper Antennas Ltd., Saywell International, L3Harris Technologies Inc., All Weather Inc., Avidyne Corp., Astroseal Products Mfg. Corp., Dexmet Corp., Dayton-Granger Inc., TE Connectivity, Saab AB, Cobham Ltd., and Honeywell International Inc. among others.