(I-BusinessNews.Com, March 16, 2021 ) The report on the aircraft transparencies market provides a detailed trend analysis from 2017 to 2025. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market.
The global aircraft transparencies market size is projected to grow from USD 1.0 billion in 2020 to USD 1.5 billion by 2025, at a CAGR of 7.7% from 2020 to 2025. The market is driven by various factors, such as increase in number of aircraft deliveries and adoption of aircraft transparencies to increase aircraft performance, efficiency and safety.
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Based on material, the polycarbonate segment is expected to be the largest market by value. The growth of the polycarbonate segment of the aircraft transparencies market can be attributed to the characteristics of polycarbonate such as increased toughness, excellent dimensional stability, increased optical clarity, high heat resistance, and excellent electrical resistance.
Based on application, the windows segment is projected to be the highest CAGR rate for the aircraft transparencies market during the forecast period. The growth of the windows segment of the aircraft transparencies market can be attributed to the increased demand for aircraft and the type of aircraft produced.
Based on the aircraft type, the commercial aviation segment is projected to be the highest CAGR rate for the aircraft transparencies market during the forecast period. The commercial aviation segment includes narrow body aircraft, wide body aircraft, regional transport aircraft, and commercial helicopters. This growth can be attributed to factors such as increasing air travel, rise in disposable income of the middle-class population, and increased international trade and tourism across the globe. Strong growth in this sector has resulted in an increased number of aircraft orders to address the increasing air passenger traffic.
Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft transparencies market during the forecast period. Over the years, there has been a significant rise in demand for single-aisle aircraft across regions. As per the recent press release by Airbus in January 2020, it delivered 863 commercial aircraft to 99 customers in 2019, outpacing its previous output record set in 2018 by 8%.
Based on the region, North America is projected to be the largest regional share for the aircraft transparencies market during the forecast period. The key factor responsible for North America, leading the aircraft transparencies market owing to the rapid growth of the technologically advanced transparencies in the region. In North America, the increase in aircraft orders and supplies is encouraging manufacturers of aircraft transparencies to increase their sales year on year. Moreover, increasing demand for commercial aircraft and presence of some of the leading players operating in the market, such as PPG Industries (US), Lee Aerospace (US), Nordam Group (US), Gentex Corporation (US), and GE Aviation (US), are expected to drive the growth of the aircraft transparencies market in North America. These players are focusing on R&D to increase their product lines and using advanced materials, such as acrylic and polycarbonate, for manufacturing aircraft transparencies.
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