Aircraft Door Market size worth over $6.5bn by 2027
Published Date: June 17, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Aircraft Door Market size is set to surpass USD 6.5 billion by 2027, according to a new research report by Global Market Insights, Inc.
Rising disposable incomes, high living standards, and increasing urbanization rates are positively influencing the governments to invest in the aviation industry. Regulatory organizations are also enabling industry players to invest in technologies to improve the aerospace infrastructure. Improving air passenger traffic owing to the proliferating tourism sector along with infrastructure development will propel the market growth during the forecast period. Asia Pacific is on the way to become a key aviation market over the next few years. Countries including China, Japan, Indonesia, and India will offer significant opportunities for the aircraft door market progression led by the expansion of aircraft businesses and rising air passenger traffic.
The coronavirus pandemic has completely brought international travel to a virtual standstill, crippling the aerospace industry in a significant manner. The pandemic is expected to a cause reduction in the number of passengers by more than two billion in 2020. Significant reduction in aircraft production & new deliveries caused a revenue decline for aircraft doors in 2020. The market will gain momentum after the gradual removal of lockdown restrictions and removal of travel bans. It will take a considerable amount of time for the market to fully stabilize and achieve peak growth rates.
Browse key industry insights spread across 230 pages with 294 market data tables & 25 figures & charts from the report, “Aircraft Door Market Size, By Aircraft (Commercial Aircraft [Narrow-body, Wide-body], Regional Jet, Business Jet, Helicopter, Military Aircraft), By Door (Passenger, Cargo, Emergency, Landing Gear, Ground Service), By Operating Mechanism (Manual, Hydraulic), By Distribution Channel (OEM, Aftermarket), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Increasing need for new air connectivity routes will drive the growth of regional jets
The regional jets segment in the aircraft door market is poised to reach USD 730 million by 2027 on account of the expansion of regional air connectivity coupled with the emergence of new air travel routes. The low rate of fuel consumption and low cost of operations make regional jets ideal for connecting Tier II and III cities to large or medium hub airports. The growing tourism industry in conjunction with the availability of a wide network of routes across major locations is supporting the industry share over the forecast timeframe. Increasing regional aircraft orders and deliveries are providing a positive outlook for the marketplace.
Technological progressions to likely benefit landing gear door dynamics
Landing gear doors will witness more than 3.5% growth rate through 2027. These offer easy access to the gear bay along with an enhanced aerodynamic surface, positively influencing the market. Design optimization of landing gear doors is gaining higher visibility owing to the constantly changing air pressure with respect to speed and altitude. Industry players are entering into strategic partnerships and contracts with airliners to provide lightweight landing gear doors. The utilization of innovative manufacturing technologies is strengthening the segment share during the forecast timeframe.
The manual segment will capture major revenue share
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Manual segment dominated more than 50% of the aircraft door market share. Increasing deployment of manual operating doors in narrow-body air carriers and private jets is bolstering the industry growth. Easy maintenance owing to a simple operating mechanism offers potential opportunities for product penetration. Additionally, the rising prominence of low-cost carriers utilizing manual operating doors will spur the industry expansion.
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