The Aircraft Radome Market size is projected to reach US$ 1.16 billion by 2031 from US$ 0.65 billion in 2023. The market is expected to register a CAGR of 7.5% in 2023–2031. The deployment of military aircraft in large numbers is generating new demand for aircraft radome systems. The aircraft radome manufacturing industry consists of large numbers of well-established and well recognized companies such as General Dynamics Corporation, Jenoptik, Airbus, Orbitall ATK and Parker Hannifin Corp among others. The existing radome manufacturers acquire most of the contracts from the major aircraft manufacturers, which limits the entrance for new companies to enter the industry. The capital investments involved in setting up a new aircraft component manufacturing company incurs huge costs, which is a major concern for the new entrants in the industry.
The aircraft radome manufacturing industry consists of large numbers of well-established and well recognized companies such as General Dynamics Corporation, Jenoptik, Airbus, Orbitall ATK, and Meggitt PLC among others. The existing radome manufacturers acquire the most of the contracts from the major aircraft manufacturers, which limits the entrance for new companies to enter the industry. Owing to these, the threats to new entrants in the aircraft radome market, is all time low. The capital investments involved in setting up a new aircraft component manufacturing company incurs huge costs, which is a major concern for the new entrants in the industry.
The radome is a covered structural component of an aircraft, safeguarding the antenna from different environmental parameters, as well as external factors such as bird strike, lightning strike. At the same time, radome increases the stealthy feature of the aircraft. These are achieved by manufacturing the radome with high end composite materials and advanced technology. The maintenance of high end composites and advanced technology in order to increase the operational efficiency of the radome requires highly skilled engineering labor. The lack of skilled engineering labor in different parts of the world is limiting the aircraft manufacturers to adopt the technologically advanced radome, thus, inhibiting the growth of the market for aircraft radome over the period.
The increasing fleet of aircraft across different regions is one of the major factors supporting the growth of aircraft radome market globally. The demand for new commercial aircraft is on the rise; majority of the aircraft OEMs i.e., Airbus and Boeing have also been receiving large number of orders for different model of aircraft such as A320 series, B787 series, A330 series, and B737 series. These aircraft are some of the most widely used commercial aircraft models that acquire for the majority share in the worldwide aircraft fleet. This is also propelling the production of such aircraft models and thereby generating new demand for the installation of aircraft radomes across different regions.
The expected deliveries of commercial aircraft, military aircraft, and general aviation aircraft are likely to generate new opportunities for market vendors during the forecast period. The upcoming deliveries of more than 40,000 commercial aircraft in the next 20 years is likely to generate huge opportunities for aircraft radome market vendors in the coming years.
Further, the rising contracts for the procurement of military aircraft is another major factor likely to generate new opportunities for market vendors in the coming years. This is further supported by the increasing military expenditure across different countries around the world.
Key segments that contributed to the derivation of the Aircraft Radome Market analysis are design type, material type, aircraft type, and geography.
The geographic scope of the Aircraft Radome Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Asia Pacific has dominated the Aircraft Radome Market in 2023, and it is likely to witness highest CAGR during the forecast period as well. The market for aircraft radome in the Asia Pacific region has been emerging mainly due to the rising procurement of civil and military aircraft across different countries. For instance, according to the Airbus forecasts, approximately 9,500 aircraft are expected to be delivered by the end of 2042 in the Asia Pacific region which is further expected to generate the demand for aircraft radomes across the Asia Pacific region in the coming years. Moreover, the rising air passenger traffic, rising disposable income, and introduction of low-cost carriers/airlines are some of the other factors supporting the procurement of new aircraft and thereby driving the market for aircraft radomes and other components as well in the Asia Pacific region.
The regional trends and factors influencing the Aircraft Radome Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aircraft Radome Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 0.65 Billion |
| Market Size by 2031 | US$ 1.16 Billion |
| Global CAGR (2023 - 2031) | 7.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Design Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aircraft Radome Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aircraft Radome Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Aircraft Radome Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aircraft radome market and strategies:
The “Aircraft Radome Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific region dominated the aircraft radome market in 2023.
Increasing demand for quartz fiber and significant rise in demand for air travel are some of the factors driving the growth for aircraft radome market.
The increasing production of military aircraft is one of the major trends of the market.
Airbus SAS, General Dynamics Corporation, Jenoptik AG, Orbitall ATK, Saint Gobain, Starwin Industries, Vermont Composites Inc, Parker Hannifin Corpoation, Nordam Group, and Kitsap Composites are some of the key players profiled under the report.
The estimated value of the aircraft radome market by 2031 would be around US$ 1.16 billion.
The aircraft radome market is likely to register of 7.5% during 2023-2031.