According to the latest research report titled ‘Aircraft Lightning Protection Market Size By Product (Lightning Protection {Expanded Metal Foil, Static Wick/Grounding Wire, Transient Voltage Suppressors}, Lightning Detection & Warning), 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, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026’ available with Market Study Report, the global aircraft lightning protection market is projected to surpass US $3.8 billion by the year 2026.
 

Rising consumer preference for air travel, coupled with expansion of aviation industry is fueling the demand for new aircrafts, which in turn is propelling the growth of aircraft lightning protection market. Aircraft manufacturers are incorporating the use of lightweight composites to reduce the aircraft weight and improve fuel efficiency. Expanding aircraft fleet of major air carriers will further aid the industry outlook.
 

However, high manufacturing cost, along with rigorous permission seeking procedures for different processes will act as growth restraining factors for the aircraft lightning protection market. Nevertheless, introduction of cost-effective lightning protection solutions and rising demand for low-cost carriers will boost the market growth.
 

As per the report, aircraft lightning protection market is analyzed based on the product terrain and the categorization is as lightning detection & warning system and lightning protection system. The later segment is further classified into transient voltage suppressors, expanded metal foil, and grounding wire/ static wick. The report cites that lightning detection & warning segment will grow with a CAGR of 7% during 2019-2026, as the system detects electric field and triggers warning in case of potential lightning.
 

Based on the end-use spectrum, aircraft lightning protection market from military segment is anticipated to accrue US $380 million by the year 2026, owing to surging government spending towards defense and military across the globe.
 

In terms of the aircraft type, regional jets segment is presumed to expand with a CAGR of 8% over 2019-2026. Rising number of air passengers is fueling the demand for lightning protection systems across regional jets.
 

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Speaking of fit, retrofit aircraft lightning protection market segment is expected to gain fair traction in the upcoming years, on account of upgradation and modification of carrier components during maintenance and overhaul.
 

Elaborating on the regional outlook, Asia Pacific aircraft lightning protection market will expand with 6% CAGR during 2019-2026, claims the report. The regional growth can be attributed to increase in number of air passengers and rising air traffic.
 

The key players operating in aircraft lightning protection market are Saywell, The Gill Corporation, Dexmet Corporation, L3 Aviation Products, Honeywell, Microsemi Corporation, and Cobham among others.