(I-BusinessNews.Com, July 21, 2020 ) According to the new market research report “Aircraft Transparencies Market by End Use, Application (Windows, Windshields, Canopies, Chin Bubbles, Cabin Interior), Material (Glass, Acrylic, Polycarbonate), Coating Type (ITO, Gold, Polyurethane), Aircraft Type and Region – Global Forecast to 2025″, is projected to grow from $1.4 billion in 2019 to $1.8 billion by 2025, at a CAGR of 4.3% during the forecast period. Increase in aircraft deliveries is expected to be a major factor driving the market.
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The commercial aviation segment is projected to grow at the highest CAGR during the forecast period.
By aircraft type, the aircraft transparencies market is segmented into commercial aviation, military aviation, business jets & general aviation, and helicopters. Among these, the commercial aviation segment is projected to be the fastest-growing during the forecast period. The commercial aviation sector has witnessed strong growth over the last few years. 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.
The Indium Tin Oxide (ITO) segment is projected to grow at the highest growth rate during the forecast period.
By coating type, the aircraft transparencies market is segmented into Indium Tin Oxide (ITO), gold, polyurethane, and bismuth oxide. Among these, the ITO segment is projected to witness the highest growth rate during the forecast period. ITO is an optoelectronic material used widely to provide electromagnetic wave protection in the aviation industry across applications such as flat-panel displays, smart aircraft windows, polymer-based electronics, thin film photovoltaics, and aircraft glass doors.
North America is expected to lead the market for aircraft transparencies during the forecast period.
North America is estimated to account for the largest share of the aircraft transparencies market in 2019. 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 (US), Texstars, Inc. (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 activities to increase their product line and are using advanced materials such as acrylic and polycarbonate for manufacturing aircraft transparencies.
Key Market Players
Some of the major vendors in the aircraft transparencies market include PPG Industries (US), GE Aviation (US), Texstars (US), Nordam (US), and Lee Aerospace (US).
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