Global Aircraft Doors Market.
Global Aircraft Doors Market is expected to register a 6.87% CAGR from 2020 to 2026.
Rapidly growing aircraft deliveries and growth in the need for lightweight aircraft doors have significantly contributed to the expansion of the aircraft doors market. Furthermore, several airplane manufacturers are adopting innovative design processes to enhance manufacturing capabilities.
For example, in October 2018, Airbus S.A.S announced a strategic collaboration with the Georgia Institute of Technology to transform the airplane structure designing process. Additionally, increasing investments made by prominent aircraft OEMs in advanced technology for manufacturing lightweight aircraft components is also expected to drive the growth of the global market. For example, in September 2018, Airbus Helicopters, the helicopter division of Airbus S.A.S launched the large-scale 3D printing of A350 components. Such factors are expected to drive the growth of the aircraft doors market.
However, issues related to the recyclability of composite materials and stringent aviation regulations might hamper the growth of the global market. Additionally, the ongoing COVID-19 pandemic is also expected to hamper the growth of the global market. The closing of international borders has resulted in delays in supply chains and grounding of aircraft. However, the initiatives undertaken by the governments of countries such as the US, the UK, China, India, and Brazil to reduce the impact on the aviation industry might provide an opportunity for the aircraft doors market over the coming years. Additionally, the formation of new air bubbles among different countries is also expected to drive the growth of the global aircraft doors market during the study period.
The introduction of various technologies such as advanced composite materials for aircraft doors and resin transfer molding technology for manufacturing aircraft doors are expected to drive the market growth during the review period.
Growth Opportunities in the Market
OEM segment to register the higher growth rate: The OEM segment dominated the market in 2019 and is expected to register the higher CAGR during the forecast period, 2020 to 2026. The rising demand for new aircraft owing to the rising air passenger traffic is expected to drive the growth of the segment in the global market.
Passenger doors segment is expected to be the fastest-growing: The passenger doors segment is expected to register the highest CAGR during the forecast period, 2020 to 2026. Passenger doors are the main and central point of entrance and exit for both passengers and pilots in any aircraft. Additionally, the aviation industry participants are incorporating doors with retractable steps and folding handrails to increase cabin space and ease of operation, which is expected to drive the growth of the segment in the global market.
Commercial segment is expected to register the higher CAGR: The commercial segment dominated the market in 2019 and is expected to register the higher CAGR during the forecast period. The growth can be attributed to factors such as increasing air travel, rising per capita disposable income of the middle-income population, and growing international trade and tourism across the world. The growth of this can be attributed to the increasing number of aircraft orders to address the increasing air passenger traffic. Manufacturers are currently focusing on manufacturing aircraft doors that are lightweight and reliable.
Other Prominent Players