The aircraft doors marketwas valued at USD 3.37 Billion in 2016 and is projected to reach USD 5.22 Billion by 2022, at a CAGR 7.25% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
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The report provides a comprehensive analysis of the aircraft doors market from 2017 to 2022. It discusses industry and technology trends that are currently prevailing in the aircraft doors market, in addition to drivers, restraints, challenges, and opportunities impacting the growth of the market. The aircraft doors market is projected to grow from USD 3.68 billion in 2017 to USD 5.22 billion by 2022, at a CAGR of 7.25% during the forecast period.
The aircraft doors market is anticipated to witness significant growth in the near future, due to rise in aircraft deliveries, expansion of the civil aviation sector, and technological advancements in aerospace components. There is a high demand for aviation services in the Asia Pacific and Latin American regions, owing to rise in air passenger traffic and increase in disposable income of the middle-class population. This, in turn, is expected to contribute to an increase in the procurement of civil and military aircraft, thereby driving the demand for aircraft doors.
Over the past few years, significant progress has been made in the aircraft doors market in terms of improving the reliability of doors. Manufacturers of aircraft doors are focused on the development of technologically-advanced and lightweight aircraft doors with limited maintenance requirements.
Based on door type, the passenger doors segment of the aircraft doors market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to increase in aircraft deliveries and rise in air passenger traffic.
Based on end user, the aftermarket segment is projected to grow at a higher CAGR as compared to the OEM segment during the forecast period. The growth of the aftermarket segment can be attributed to the increasing need to replace legacy aircraft doors with modern and lightweight aircraft doors. The replacement of existing aircraft components helps in extending the lifespan and maintenance intervals of aircraft.
Based on application, the commercial aviation segment is projected to lead the aircraft doors market during the forecast period. This growth can be attributed to the rise in commercial aircraft orders, owing to the increasing air passenger traffic, especially in the Middle East and Asia Pacific.
The aircraft doors market in the Asia Pacific region is projected to grow at the highest CAGR from 2017 to 2022. The demand for narrow-body aircraft and increase in cargo movement are key factors projected to drive the growth of the aircraft doors market in this region.
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Stringent regulatory environment is acting as a restraint to the growth of the aircraft doors market. Key strategies undertaken by market players include new product developments, expansions, agreements, and contracts. The competitive landscape section of the report provides an overview of key companies operating in the aircraft doors market. Airbus Helicopters (France), Latecoere (France), Saab (Sweden), Elbit Systems (Israel), Triumph Group (US), and Mitsubishi Heavy Industries (Japan) are some of the key market players engaged in the production of aircraft doors.
