Market Research Report
Aircraft Door Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||925223|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Aircraft Door Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The Aircraft Door Market is poised to grow at a CAGR of more than 3% during the forecast period (2020 - 2025).
Military Segment has the Highest Revenue Share in 2019
As of 2019, military segment has the highest share in the aircraft door market. Compared to commercial and general aviation aircraft, the doors used in the military segment are more complex and have higher prices on average. Growth in military aircraft procurement is also driving the market. Air Forces across the world are re-equipping their force with modern aircraft to have a fighting chance against the modern threats and military superpowers. As of 2019, there are 14,827 combat aircraft, 20,272 helicopters, and 4,194 transport aircraft in active service, worldwide. Fleet size increased by 1% in Middle East & Africa and Asia-Pacific between 2017-2018, while Europe saw a dip of 1% in fleet size during the same period. On the other hand, Latin American fleet size increased by 2%, Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, Moldova, Tajikistan, and Uzbekistan together saw a 4% fleet size increase. These deliveries for military aircraft have led to a high market share of the segment. However, during the forecast period, the commercial segment is expected to grow with the highest CAGR. Growing deliveries of the commercial aircraft is the main driver for the growth of the segment. Due to the demand generated by the growing traffic, the commercial aircraft orders are showing healthy growth, and simultaneously, the market for commercial aircraft doors is expected to show robust growth during the forecast period.
Market In Asia Pacific to Grow with the Highest CAGR During the Forecast Period
The aircraft door market is expected to show robust growth in the Asia-Pacific region during the forecast period. Deliveries of commercial aircraft are increasing on a large scale in the Asia-Pacific. In addition to China and India, which are two of the largest aviation markets in the world, countries, like Indonesia, Vietnam, Thailand, and Philippines, are experiencing an unprecedented increase in air passenger traffic, from tourists exploring cheaper holiday locations. In the military segment, countries like India, China, Japan and New-Zealand are expected to add transport aircraft to their fleet during the forecast period. Fighter Jets like the F-35 have a huge demand in the region. This is evident from Japan planning to procure approximately 150 F-35 stealth fighter jets from the United States. GKN - Fokker Aerospace provides doors for the F-35 program. Thus the demand for new aircraft is expected to ed to help the growth of the market during the forecast period.
Some of the prominent players in the aircraft door market are Saab AB, Safran, Triumph Group, GKN Aerospace (Melrose Industries), and Latecoere. As most of the contracts signed in this market are of the long term, the existing prominent players will enjoy constant revenues for the ongoing aircraft programs, and it is difficult for new players to enter and grow in the market. Hence the focus has increased on new and upcoming aircraft programs, as these may open new possibilities of growth for the new and emerging players. Acquisitions and joint ventures between the aircraft OEMs are expected to make the market more competitive as door manufacturers will have limited buyers, which in the long term can force smaller players to cease operation or shift to other business. Focus on the use of lightweight materials while improving the strength of the door structure is important, as the aircraft OEMs are looking for tier-1 suppliers that provide doors have a good strength to weight ratio.