Competitive Dashboard:
The key players in the global aircraft enclosures are Precision Metal Industries (US), Garmin Ltd (US), Carlisle Interconnect Technologies (US), Collins Aerospace (US), Ducommun Incorporated (US), Thales Group (France), Honeywell International Inc. (US), TE Connectivity (Switzerland), and Curtiss-Wright Corporation (US).
Market highlights:
Aircraft Enclosures Market is Estimated to Register a CAGR of Nearly 4.9% During the Forecast Period 2027. The growth of the global aircraft enclosures market can be attributed to a growing emphasis on passenger and aircraft safety and increasing air passenger traffic. Furthermore, stringent government regulations pertaining to aircraft enclosures are bolstering market growth. For example, the US Federal Aviation Administration (FAA) provides guidelines regarding installing electrical boxes on aircraft.
The enhanced safety offered by aircraft enclosures against electrical accidents is expected to drive market growth. However, rising fuel prices and the backlog in new commercial aircraft deliveries may hamper the growth of the market.
Regional Overview :
The global demand for Aircraft Enclosures Market has been segmented into North America, Europe, Asia-Pacific, Middle East Africa and Latin America, based on area.
In 2018, thanks to the involvement of influential aircraft companies such as Boeing, North America dominated the global industry.
During the forecast period, however, Asia-Pacific is predicted to be the fastest-growing regional segment. Rising air passenger traffic is projected to fuel market growth in the region in developing countries such as China and India, with airlines buying new aircraft to satisfy demand.
Segmental Analysis:
Based on the type of aircraft, the global demand for aircraft enclosures has been split into private, industrial, international and other markets. The industrial sector led the industry in 2018. The growth of the segment is projected to be driven by growing air transport across the globe and increasing air passenger traffic. Hence, during the forecast period, the segment is predicted to register the highest CAGR.
The industry has been segmented into aluminium, composite, and others based on substrate. In 2018, the aluminium segment led the market. The composite section, however is projected to show the highest CAGR during the 2019 to 2025 forecast period. A composite is a mixture of plastic and filler material that is high-performance engineered, such as glass fibre, metal, or a carbon form such as nanotubes and microspheres. Composite aircraft enclosures provide various advantages such as low development costs, high efficiency and resistance to corrosion. Thus, during the projected period, the segment is projected to be the fastest rising.
The demand for Key Aircraft Enclosures Market Players has been divided into injection moulding, stamping, and others in the process. Although the stamping segment dominated the market in 2018, during the forecast period, the injection moulding segment is expected to record the highest CAGR. Injection moulding provides the aerospace industry with various advantages, such as structural durability and excellent repeatability, as it allows to manufacture similar aircraft components.
In terms of application, the market has been classified as in-flight entertainment, avionics, embedded computing, and others. In 2018, the avionics segment was the largest. During the projected era, however the in-flight entertainment segment is anticipated to be the fastest rising. This can be due to the growing investment by airlines in the installation of sophisticated in-flight entertainment systems to provide passengers enhanced facilities.
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