According to a new market report published by Credence Research, Inc., “Global Aircraft Doors Market (By Door Type – Passenger Door, Emergency Door, Service Door, Cargo Door and others; By Aircraft Type – Commercial Aircraft and Military Aircraft; By Revenue Source – Original Equipment Manufacturer (OEM) and Aftermarket) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, the global aircraft doors market is projected to generate a revenue of US$ 5.55 Bn by 2027, expanding at 4.49% CAGR during the forecast period from 2019 to 2027.
Aircraft doors are an integral part of airframe structure, essentially used for the purpose of passenger inlet-outlet, repair & maintenance of avionic systems and other services. Plug doors are used for compartments that require cabin pressurization and for rest of the compartments, non-plug mechanical locking doors are used. Consistently growing global consumer base for air travel leads to an increase in air fleet size and manufacturers are forced to cater such demand with an increased aircraft production. Increased aircraft production will in-turn boost the aircraft doors market during the forecast period.
The global aircraft doors market, based on aircraft type was dominated by commercial aircraft segment in 2018. According to the International Air Transport Association (IATA), the global airline passenger traffic was increased by 7% whereas the delivery of single-aisle aircrafts was increased by 12% in 2018. Similarly, business jets and other regional jets have been witnessing an upward trend over the years as an effect of increased trade activities. Growing penetration of electrically operated smart doors along with the aforementioned drivers are projected to accelerate the global aircraft doors market growth for commercial aircraft.
Further, on the basis of geography, North America led the aircraft doors market in 2018. The dominance of North America in the global market is primarily accredited to the presence of major airlines as well as major aircraft manufacturing companies across the region. According to IATA, in 2018, air traffic in North America was increased by 5% as compared to 2017 along with the capacity increase of 3.7% and load factor growth of 1%. Similarly, heavy capital investment in military modernization programs is projected to significantly boost the aircraft doors market during the forecast period. For instance, the U.S military, in a few decades, plans to buy 3 new fighter jets along with around 3700 aircrafts costing approximately US$ 340 billion. Air-to-air combat, better ground attack, more powerful engine, larger wings and long fuselage are the advantages of new aircrafts over currently working models. Asia Pacific, on the other hand, is projected to be the fastest-growing region owing to robust economic expansion and growing aircraft manufacturing in the region.
Global aircraft doors market is characterized by the presence of some notable players and increasing competition among them inconsistently changing market dynamics. Key players profiled in the report include Airbus Group, Triumph Group, Inc., Mitsubishi Heavy Industries, Ltd., Honeycomb Company of America, Inc., Saab AB Aerospace Company, DAHER-SOCATA Aircraft Manufacturers, Elbit Systems, Ltd., Group Latecoere, TransDigm Group, Inc., Collins Aerospace, Goodrich Corporation and GKN Aerospace Services, Ltd. among others. Aircraft doors market players are adopting several strategies to cater the ever-growing delivery demands as a result of increased air passenger traffic. New product development, contracts & agreements, partnerships and joint ventures remain the most favorite strategies among major players to gain an edge over competitors.
Browse the full report at https://www.credenceresearch.com/report/aircraft-doors-market
The Global Aircraft Doors Market is Segmented into:
|Segmentation||By Door Type Segment (2019 – 2027; US$ Bn)|
|By Aircraft Type Segment (2019 – 2027; US$ Bn)|
|By Revenue Source Segment (2019 – 2027; US$ Bn)|
|By Geography Segment (2019 – 2027; US$ Bn)|
*Complete segmentation list is on report page