Sellbyville, DE -- (SBWIRE) -- 05/16/2019 -- North America dominates aircraft door market owing to the presence of major airplane manufacturers such as Bombardier Aerospace, Boeing?, and Lockheed Martin. Moreover, presence of large number of airports handling large traffic will positively influence the product demand. Asia Pacific will exhibit a robust growth with improving economic conditions and emergence of low-cost carriers.
Aircraft Door Market is anticipated to surpass USD 9.5 billion by 2025; according to a new research report by Global Market Insights, Inc. Rising air carrier fleets owing to increasing air passenger traffic will augment aircraft door market growth over study timeframe. As per the International Air Transport Association (IATA), in 2017, the passenger traffic rose to 4 billion and increased by over 8% compared with 2016.
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Cargo doors is expected to witness significant gains over the forecast period with rise in cargo transport. According to IATA, in 2018, the air cargo transportation crossed 60 million tonnes with an increase of around 4.5% as compared to 2017. Air cargo transportation holds significant share and accounts for over 35% global trade by volume. Airliners such as Cathway Pacific Airways are amplifying load bearing capacity to support cargo industry. Moreover, installation of separate cargo specific doors in areas such as bottom of upswept aft portion on underside of the fuselage to ease loading and unloading will support aircraft door market growth.
Airline manufacturers are focusing on reducing the overall air carrier weight to enhance fuel efficiency and profitability. Government entities are taking initiatives to adopt innovative materials for structures. For instance, in 2014, European Union funded research to incorporate carbon nanotubes for producing lightweight and cost-effective structural parts including landing gear door. Rising prominence for weight reduction solutions in air carriers will drive aircraft door market over the forecast timeline.
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Industry participants are investing in R&D for introducing advanced technologies to improve the overall experience and flight safety. For instance, in 2017, Latecoere showcased an electric gate concept named NexGED that operates with push button. Moreover, it opens automatically in the event of an emergency landing, positively influencing the aircraft door market share.
Aftermarket showcased a significant growth rate over the forecast timeframe owing to the on-condition inspection for ensuring air-worthiness. Additionally, extensive MRO requirements for overhauling and restoring old airplane fleet are further expanding the aircraft door market share over the study timeframe.
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In 2018, commercial aircrafts accounted for over 45% in aircraft door market owing to continuous increase in airplane deliveries. According to CAPA, in 2017, the commercial airlines deliveries rose to over 31,000 with an increase of around 4% as compared to 2016. Hydraulic operating mechanism will register around 5.5% CAGR by 2025 owing to growing adoption of automatic actuation mechanisms for easy operation. The system allows superior accuracy and require less maintenance. Ongoing innovations offering high power to weight ratio and self-contained systems will induce significant potential in hydraulic aircraft door market. However, rising concerns for system reliability in adverse weather conditions will limit its growth in aircraft door industry place.
North America leads the aircraft door market place owing to the presence of major airplane manufacturers. Increasing military budget allocation for maintaining military jets will ensure its dominance over forecast timeframe. For instance, in 2015, the U.S. military entered into a strategic contract alliance worth USD 1.1 trillion with Lockheed Martin for maintaining the U.S. F35 fleet through 2077, providing growth prospects for the industry expansion.
Key participants in aircraft door market place include Latecoere, Aernnova Aerospace S.A., Saab, Mitsubishi Heavy Industries, and Elbit Systems. Industry players are continuously investing in R&D for developing innovative solutions for manufacturing light weight products to strengthen their presence. For instance, in 2017, Ventana introduced an innovative airplane door manufactured using 3D printing technologies along with advanced wax processes and thin-walled casting technologies, that significantly reduces the weight by up to 30% compared to the traditional products.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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