The global aircraft radome market is estimated to grow at a CAGR of 7.2% during the forecast period 2017 – 2025 and accounts for US$ 741.47 Mn in the year 2025.
The most widely used radome in modern aircrafts is the nose radome, and due to this, the segment contributed the maximum market share of 67.0% in 2016. The segment is also projected to surge at a faster pace as compared to other radome installed on aircraft. This is due to the fact that, the nose radome occupy less space than fuselage mounted radome, resulting in better operational efficiency. In addition, the nose radome eliminates moisture propagation and moisture intrusion, which are the major factors damaging the radars. Owing to these factors, the market for nose radome is anticipated to surge during the forecast period from 2017 to 2025, at a significant rate.
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In our study, we have segmented the aircraft radome market by design type, material type and aircraft type. The design type segment of aircraft radome market includes nose radome and fuselage mounted radome. Furthermore, the material type segment has been subdivided into glass fiber radome, resin radome and quartz radome that are used to manufacture radomes. Commercial aircrafts and military aircrafts are the two aircraft types where radomes are used and form the base for segmentation of this market. On the basis of geography, the aircraft radome market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The growth of market for aircraft radome is highly influenced by the remarkable growth in air travel across the globe. The growth in air travel has increased significantly over the years due to increase in disposable income among the middle class society and upper middle class society worldwide. Moreover, reduction in travel time and comfort ability is also acting as a growth factor for commercial aviation as well as military aviation. This also leading the aircraft manufacturers to procure more number of aircraft components which includes aircraft radomes in order to meet the increasing aircraft orders and backlogs.
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In order to protect the sophisticated radar or antennas, the aircraft radome manufacturers catering to military aircrafts, manufacture the radome with high end technologies and advanced composites, which increases the interest among the end users. Thus fueling the growth of market for aircraft radome in the coming years.
Geographically, Asia Pacific contributed the maximum market share in 2016 in the aircraft radome market, owing to rapid demand for aircrafts in the region. The commercial airlines in the region are procuring aircrafts in large numbers in order to meet the surging demand for air travel within and outside the region. Moreover, major defense powers such as China, India, Japan and South Korea are investing substantial amounts in designing, developing, manufacturing and procurement of advanced aircraft radomes to equip their latest military aircrafts with the robust radome. In addition, modernization programs are increasing in the Asia Pacific aviation industry, which is leading to adoption of advanced aircrafts radomes heavily. These factors are anticipated to further propel the demand for aircraft radome in APAC region. Some of the global key players operating in the aircraft radome market are Jenoptik AG, Saint-Gobain, Orbital ATK, General Dynamics Corporation and Airbus S.A.S. Also, Meggitt PLC, NORDAM Group Inc., Starwin Industries, Vermont Composites and Kitsap Composites are other key companies in this market.
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