June 17, 2024

Aircraft Radome Market Poised to Witness High Growth Owing to Increasing Demand for Military Aircraft

Radomes protect the radar system from weather or interference while allowing radio waves to pass through them. They come in a wide range of shapes and sizes based on the platform and radar system they are protecting. Rising military budgets of countries across the world and increasing procurement of fighter jets, UAVs, and helicopters are expected to drive demand for aircraft radomes.

The Global Aircraft Radome Market is estimated to be valued at US$ 738.09 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the Aircraft Radome market are Scotts Miracle-Gro Company, National Fertilizers Ltd., and Fertikal N.V.

Increasing defense budgets globally presents significant opportunities for manufacturers to develop lightweight and cost-effective radomes for new aircraft programs. Rapid growth of commercial aviation sector will also augment demand.

Major players are investing in R&D to develop 3D printed radomes using advanced thermoplastic materials for future aircraft. Industry stakeholders are also exploring opportunities in Asia Pacific and Middle East regions with rising military aircraft procurement.

Market Drivers
The increasing demand for military aircraft for defense modernization programs across countries like the US, China, and India is a key driver for the aircraft radome market. Most new-generation fighters require advanced radomes to support active electronically scanned array radars. Growing procurement of UAVs for surveillance and combat missions will further fuel market revenues.

High research and development in advanced radar-absorbing and heat resistant materials to manufacture advanced aircraft radomes is also propelling market growth. Manufacturers are developing new lightweight carbon fiber composite radomes with better stealth and survivability.

PEST Analysis
Political: The Aircraft Radome Market Size is influenced by regulations governing aircraft manufacturing and aviation standards set by regulatory bodies like the Federal Aviation Administration and European Aviation Safety Agency.

Economic: Factors such as global GDP growth, defense budgets of major economies, demand for commercial aircraft influence the economic performance of this market.

Social: Increasing air passenger traffic, demand for superior military capabilities drive demand. Usage of advanced materials enhances safety.

Technological: Detection and communication technologies integrated into radomes are advancing. Composite materials reduce weight while improving durability. Electronic Beam Steering antenna systems and 3D printing enable complex geometries.

Geographical regions of concentration
North America accounts for the largest share of the global aircraft radome market due to substantial aircraft fleet and defense spending in the US. Major OEMs and tier players are located in this region supporting hardware demands.

Fastest growing region
Asia Pacific is projected to be the fastest growing regional market between 2024-2030. This can be attributed to increasing passenger air traffic, expanding defense budgets of India and China. Localization initiatives by Boeing and Airbus through joint ventures will boost radome component manufacturingBase in these countries.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it