ID: MRFR/A&D/6935-HCR | 133 Pages | Published By Sejal Akre on March 2023
Aircraft enclosures are cabinets that are utilized to protect critical electronic components. Aircraft enclosures offer protection to components against aircraft fluids and static electricity. Furthermore, they assist in reducing thermal loads. Stringent government regulations regarding aircraft and passenger safety are propelling aircraft manufacturers to invest in aircraft enclosures.
Increasing air traffic and the subsequent demand for new aircraft are the key factors driving the growth of the global aircraft enclosures market. Furthermore, a focus on aircraft modernization programs and growing emphasis on aviation safety are boosting market growth. However, the backlog in new commercial aircraft deliveries and rising fuel prices are expected to hamper market growth.
The Global Aircraft Enclosures Market is estimated to register a CAGR of nearly 4.9% between 2019 and 2025.
Segmentation of the Global Aircraft Enclosures Market
On the basis of aircraft type, the global aircraft enclosures market has been divided into commercial, military, regional, and others. In 2018, the commercial segment dominated the market. Increasing air travel across the globe and rising air passenger traffic are expected to drive the growth of the segment. According to the International Civil Aviation Organization (ICAO), the number of passengers carried by airlines increased from 4 billion passengers in 2017 to 4.3 billion passengers in 2018. Hence, the segment is expected to register the highest CAGR during the forecast period.
Based on material, the market has been segmented into aluminum, composite, and others. The aluminum segment dominated the market in 2018. However, the composite segment is expected to exhibit the highest CAGR during the forecast period of 2019 to 2025. A composite is a mixture of high-performance engineered plastic and filler material such as glass fiber, metal, or a form of carbon such as nanotubes and microspheres. Composite aircraft enclosures offer numerous benefits such as low cost of development, high performance, and corrosion resistance. Therefore, the segment is expected to be the fastest growing during the forecast period.
By process, the aircraft enclosures market has been segregated into injection molding, stamping, and others. While the stamping segment dominated the market in 2018, the injection molding segment is expected to register the highest CAGR during the forecast period. Injection molding offers various benefits to the aerospace industry such as design flexibility and excellent repeatability as it assists in manufacturing identical aircraft parts.
In terms of application, the market has been classified as in-flight entertainment, avionics, embedded computing, and others. The avionics segment was the largest in 2018. However, the in-flight entertainment segment is expected to be the fastest growing during the forecast period. This can be attributed to the increasing investments by airlines in installing advanced in-flight entertainment systems to offer enhanced services to passengers.
Based on region, the global aircraft enclosures market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America dominated the global market in 2018 owing to the presence of prominent aircraft manufacturers such as Boeing. However, Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. Increasing air passenger traffic in developing countries such as China and India is expected to drive market growth in the region with airlines procuring new aircraft to meet demand.
The key players in the global aircraft enclosures are Carlisle Interconnect Technologies (US), Garmin Ltd (US), Collins Aerospace (US), Ducommun Incorporated (US), Honeywell International Inc. (US), Thales Group (France), TE Connectivity (Switzerland), Precision Metal Industries (US), and Curtiss-Wright Corporation (US).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
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Aircraft Enclosures Market is presumed to surge at a rate of close to 4.9% in the future.
The top contributing factors in Aircraft Enclosures Market growth are the surging air traffic and the consequent rise in the demand for new aircraft. The rising focus on aircraft upgradation programs and growing focus on aviation safety also add to the Aircraft Enclosures Market strength.
The commercial aircraft type is currently the leading segment in the Aircraft Enclosures Market.
The main material types considered in the study include composite, aluminum and more.
The key applications analyzed in the report include in-flight entertainment, avionics, embedded computing, and more.