by The Aircraft Radome Market is estimated to be valued at US$ 640.7 Mn or Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
An aircraft radome is a structure that protects radar equipment or sensors on the airframe from damage and aerodynamic heating. It is constructed using composite materials like fiberglass, Kevlar, or carbon fiber that are transparent to electromagnetic radiation. Radomes allow radar signals to pass undisturbed while shielding radar and satellite communications equipment from damage. Aircraft radomes are critical in military and commercial planes for navigation, weather detection, and collision avoidance.
Market Dynamics:
Increasing Procurement of Advanced Fighter Aircrafts: The defense budget allocation of major economies towards procurement of 4th and 5th generation fighter jets is driving the demand for advanced composites in aircraft radome manufacturing. For instance, the Indian government awarded a Rs. 48,000 crore contract to Hindustan Aeronautics Limited in 2021 for procurement of 83 Tejas light combat aircrafts for the Indian Air Force. Such high procurement of advanced jets will propel the aircraft radome market growth over the forecast period.
Advancement in Composite Materials: Ongoing research and development activities for enhancement of composite material properties like strength, endurance and electromagnetic transmission are supporting lightweight and durable radome design. New product launches of carbon fiber, matrix, and nanomaterial reinforced composites by major manufacturers are further fueling the aircraft radome industry expansion.
Segment Analysis
The aircraft radome market is dominated by the military aircraft radome sub-segment. Military aircraft radomes account for more than 60% of the total aircraft radome market share owing to high spending on military radome solutions by defense organizations globally. They are often larger and more advanced radomes designed to withstand harsh weather conditions and impact from projectiles.
PEST Analysis
Political: Stable defense budgets and growing geopolitical tensions have led to increased military aircraft procurement in key markets, driving radome demand.
Economic: Growing global GDP and the expanding commercial aviation industry are boosting demand for new commercial aircraft and their associated radome systems.
Social: Increasing air travel among global population and preference for latest aircraft models equipped with advanced radome technologies.
Technological: Development of advanced radome materials that offer lower weight, high strength and capability to withstand greater heat flux without degradation.
Key Takeaways
The global Aircraft Radome market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing procurement of new generation military aircraft and commercial planes worldwide. The aircraft radome market size for 2023 is estimated at US$ 640.7 Mn.
North America currently accounts for the largest share of the global aircraft radome market owing to large military budgets and new procurement programs by countries like the US and Canada. Asia Pacific is expected to be the fastest growing regional market for aircraft radomes driven by increasing aircraft deliveries in China and India.
Key players operating in the aircraft radome market are General Dynamics, Airbus, Nordam, Saint-Gobain, Meggitt, Starwin Industries, Kitsap Composites, Orbital ATK, Jenoptik, Harris, Vermont Composites, Pacific Radomes, Royal Engineered Composites, AVIC, ATK, Kelvin Hughes, Raytheon, Leonardo, Ducommun, CPI. These companies are focused on developing advanced radome materials as well as forming strategic partnerships for new radome integration opportunities on aircraft programs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
