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The Aircraft Mounts market is witnessing significant growth, driven by key market factors that shape its landscape. One primary driver influencing this market is the continuous expansion of the aviation industry. With the rising demand for air travel and the increasing production of commercial and military aircraft, there is a parallel need for efficient and robust mounting solutions. Aircraft mounts play a crucial role in supporting various components, including avionics, sensors, cameras, and other mission-critical equipment, contributing to the overall functionality and safety of aircraft.
Technological advancements in aerospace engineering are pivotal in defining the trajectory of the Aircraft Mounts market. Continuous innovation in materials, design, and manufacturing processes has led to the development of lightweight yet durable mounts capable of withstanding the rigors of flight. Advanced materials, such as composite alloys and high-strength metals, enhance the structural integrity of mounts while ensuring weight efficiency. Furthermore, innovative design features and precision manufacturing contribute to the overall reliability and performance of aircraft mounts.
The Aircraft Mounts Market is estimated to achieve a valuation of USD 928.7 Million by the year 2030, showcasing a Compound Annual Growth Rate (CAGR) of 6.8% spanning from 2022 to 2030. This substantial growth in the global aircraft mounts market is attributed to several factors, including rising defense expenditures, a notable surge in passenger traffic, and a significant demand upswing for new aircraft. Additionally, the market has experienced robust growth due to the enforcement of stringent aviation regulations emphasizing safety standards.
Regulatory considerations play a crucial role in shaping the Aircraft Mounts market. Stringent safety standards and airworthiness regulations mandated by aviation authorities globally influence the design, certification, and implementation of aircraft mounts. Compliance with these regulations is imperative for manufacturers, affecting product development and certification processes. Adherence to safety standards ensures that aircraft mounts meet the necessary criteria for installation, contributing to the overall reliability and safety of aviation operations.
The competitive landscape of the Aircraft Mounts market is marked by the presence of major aerospace and defense manufacturers specializing in aviation components. Collaboration, partnerships, and acquisitions are common strategies in this competitive environment, as companies aim to expand their product portfolios and enhance market share. Intense competition fosters continuous innovation, leading to the introduction of cutting-edge technologies and features in aircraft mounting solutions. The competitive dynamics contribute to advancements in mount design, manufacturing efficiency, and overall market growth.
Economic factors, including the growth of the aviation industry, aircraft production rates, and defense budgets, significantly impact the dynamics of the Aircraft Mounts market. Periods of increased aircraft manufacturing and fleet expansion drive higher demand for mounting solutions. Conversely, economic downturns may result in temporary reductions in aircraft orders, affecting the market for aircraft mounts. The cyclic nature of the aviation industry plays a crucial role in determining the overall demand and market conditions for aircraft mounting solutions.
Global geopolitical considerations also influence the Aircraft Mounts market, particularly in the defense sector. As nations focus on enhancing their defense capabilities, investments in military aircraft and associated components, including mounts, increase. Heightened security concerns and evolving geopolitical scenarios drive the demand for advanced mounting solutions that can support the integration of sophisticated avionics and mission-critical equipment on military aircraft.
Aircraft Mounts Market Highlights:
Aircraft Mounts Market Overview :
Aircraft Mounts Market Size Anticipated to reach at a USD 928.7 Million by 2032 with CAGR of 6.8% by 2024 by 2032. The mounts are used to stop the movement of any component and keep it in place. Several mounts are used in aircraft to fit various components to the aircraft structure. Mounts are also used to reduce vibrations or shocks.
Market Synopsis
The global aircraft mounts market has witnessed high growth in recent years owing to the increasing defense expenditures, the growing passenger traffic and a significant increase in demand for new aircraft. Moreover, stringent aviation regulations related to safety are driving the growth of the market.
Market USP
Stringent safety regulations would increase the demand for advanced aircraft mounts
Market Drivers
- Increasing Defense Expenditures: Globally, military spending has increased significantly in recent years. According to the Stockholm International Peace Research Institute (SIPRI), global military expenditure rose by 2.6% to approximately USD 1.82 trillion from 2017 to 2018. The increase in defense expenditure is expected to boost the demand for technologically advanced aircraft such as fighter jets, transport aircraft, and helicopters. This is expected to drive the growth of the aircraft mounts market.
- Increasing Passenger Traffic and Significant Increase in Demand for New Aircraft
- Stringent Aviation Regulations Related to Safety
Market Opportunities
- Aircraft Mounts Development with 3d Printing Technology
Segmentation
By Type
- Interior Mounts: The segment accounted for the largest market share in 2019. Interior mounts segment includes galley mounts, panel mounts, floor mounts, headliner mounts, and bulkhead mounts. These types of mounts are largely used in passenger, cargo, and business aircraft. Therefore, with the increase in air passenger traffic globally, the demand for these aircraft is increasing, which is expected to drive the growth of this segment.
- Exterior Mounts: The segment is expected to register the highest CAGR during the forecast period. The exterior mounts segment includes multiplane mounts, pedestal mounts, platform mounts, sandwich mounts, and shock mounts. These types of mounts are primarily used to mount external components of the aircraft electronic flight bag, in-flight entertainment displays, and antennas, among others. Therefore, the increasing demand for technologically advanced in-flight entertainment displays is expected to drive the growth of this segment.
By Platform
- Civil Aviation: The segment accounted for the largest share in 2019 and is expected to witness higher growth during the forecast period from 2020 to 2026. There has been a rise in air passenger traffic globally. According to the International Air Transport Association (IATA), global air travel is likely to double by 2036. Thus, to cater to the increasing passenger traffic, there has been a corresponding increase in the demand for new aircraft. Mounts are the vital component of aircraft thus, with the increasing demand for new commercial aircraft, it is expected to drive the market growth.
- Military Aviation: The segment expected to exhibit a steady CAGR during the forecast period. This is due to the modernization of existing military aircraft with advanced systems. Moreover, the increasing demand for fighter jets globally is also expected to drive the growth of this segment.
By Region
- North America: North America dominates the aircraft mounts market. This trend is projected to continue during the forecast period due to the presence of prominent players, such as Angerole Mounts, LLC, Cadence Aerospace LLC, Ram Mounts, and Shock Tech, Inc., and high investments by them in the development of aircraft mounts.
- Europe: The increasing adoption of fighter jets and helicopters by the military forces for tactical missions is expected to drive the growth of the European market in the review period.
- Asia-Pacific: The aircraft mounts market in this region is projected to expand at a high CAGR during the forecast period. The growing demand for new aircraft and increasing defense expenditure in countries, such as India and China, are driving the growth of the regional market.
- Middle East & Africa: The increase in defense expenditures by countries such as Saudi Arabia, UAE, and Israel is driving the market growth in the region. Moreover, the presence of major airlines such as Etihad Airways and Saudi Arabian Airlines is driving the market growth in the Middle East & Africa region.
- Latin America: In Latin America, there has been an increase in the use of helicopters for intelligence gathering on drug trafficking and rebel groups, deforestation monitoring, and control of illegal migration, which is expected to drive the market growth.
Key Players Operating in the Market
- Airloc Ltd (Switzerland)
- Angerole Mounts, LLC (US)
- Cadence Aerospace LLC (US)
- GMT Rubber-Metal-Technic Ltd (UK)
- Lord Corporation (US)
- Mayday Manufacturing (US)
- Ram Mounts (US)
- Shock Tech, Inc. (US)
- The VMC Group (US)
- Trelleborg Group (Sweden)
Key Players
- Arkon Resources, Inc. (US)
- Avionics Support Group, Inc. (US)
- Butser Rubber Ltd (UK)
- Guardian Avionics (US)
- Hutchinson Aerospace GmbH (Germany)
- Meeker Aviation (US)
- Singapore Aerospace Manufacturing Pte Ltd (Singapore)
- Vibrasystems Inc. (US)
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