Aerospace Lightning Strike Protection Market size is projected to experience a healthy growth during 2023 to 2032, driven by the rising need to improve the safety features of airplanes. Bad weather conditions such as lightning strikes can cause unnecessary network disruptions and delays. Therefore, the demand for an advanced lightning strike protection system is growing as it can protect vital systems in an aircraft from damage.
The Ukraine-Russia war has also severely impacted people's lives and livelihoods and represents far-reaching disruptions in trade dynamics in the aerospace sector. Major disturbance caused by war, such as halt in raw material supply and production of aircraft units would impact the market progression.
Aerospace lightning strike protection market share from the lightning protection application is anticipated to grow notably through 2032. The demand for a sound lightning protection system is growing among aerospace end-users to protect their aircraft from lightning strikes.
Reputed companies such as Boeing are increasing their research and development projects to upgrade the performance of their lightning protection solutions. Some components include ground straps, wire bundle shields, aluminum flame spray coating, wire mesh, embedded metallic wires, and bonded aluminum foil. These components assist the aircraft staff in damage control operations, which is influencing the product demand.
Based on fit, the retrofit segment will hold a significant share in the aerospace lightning strike protection industry by 2032. A dramatic increase in the number of ageing aircraft worldwide has pushed the demand for replacement of vital aircraft parts at regular intervals to improve their performance and safety of the aircraft.
North America aerospace lightning strike protection market size will grow considerably through 2032 owing to the thriving aerospace sector in the economy.
There are stringent laws and regulations in place to ensure that all aircrafts are equipped with the latest lightning strike protection technologies. Moreover, manufacturers have introduced several technological innovations to make aircraft safer for the crew and passengers, one of the advancements being the aerospace lightning strike protection system.
For instance, in 2022, Ducommun Incorporated, a California-based company delivering innovative manufacturing solutions for the aerospace sector, acquired Lightning Diversion Systems (LDS) and its subsidiary LS Holdings Company. With this acquisition, LDS will be able to further develop and commercialize advanced lightning protection technology to offer wind turbine operators and OEMs better and more cost-effective protection against lightning strikes.
LORD Corporation (Parker Hannifin), Henkel, Arconic, Hollingsworth & Vose Company, Wallner tooling/EXPAC, Lightning Diversion System, Boeing, and Dexmet Corporation, are major companies operating in the aerospace lightning strike protection market. The organizations are inking partnerships, and merger & acquisition deals with other firms to expand their product & service portfolios and strengthen their business capabilities.