Significant surge in the demand for advanced aircrafts, increase in air traffic across the globe, rise in in maintenance, repair, and operations (MRO) activities, and remarkable upsurge in need for safety & security in aircrafts are expected to drive the growth of the global aircraft windshield wiper and washer system market. Based on application, the commercial aircraft segment held the majority market share in 2020.
Portland, OR, July 26, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aircraft windshield wiper and washer system market generated $86.52 million in 2020, and is projected to reach $129.93 million by 2030, growing at a CAGR of 4.2% from 2021 to 2030.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Significant surge in the demand for advanced aircrafts, increase in air traffic across the globe, rise in in maintenance, repair, and operations (MRO) activities, and remarkable upsurge in need for safety & security in aircrafts are expected to drive the growth of the global aircraft windshield wiper and washer system market. On the other hand, availability of alternatives such as hydrophobic coating, ice detection systems, and others is expected to hinder the growth to some extent. However, increase in military expenditure by various nations across the globe is expected to create ample opportunities for the industry.
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The outbreak of COVID-19 has had a negative impact on the growth of the global aircraft windshield wiper and washer system market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns adversely impacted the aerospace sector as stringent air travel bans were imposed by the government to the significantly curb the spread of virus during the pandemic.
Thus, the demand for windshield wiper and washer system in aircrafts subsequently reduced, aggravating the impact on the market.
However, the market is expected to recoup soon.
The report offers a detailed segmentation on the global aircraft windshield wiper and washer system market based on type, application and region.
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Based on type, the line fit segment held the largest market share in 2020, garnering around four-fifths of the global market. The retrofit segment, on the other hand, is predicted to cite the fastest CAGR of 6.5% during the forecast period.
Based on application, the commercial aircraft segment held the majority market share in 2020, holding more than three-fifths of the global market. In addition, the same segment is expected to exhibit the fastest CAGR of 4.3% during the forecast period. Remaining segments analyzed in the report include military aircraft and others.
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Based on region, the market across North America held the lion’s share in 2020, garnering nearly two-fifths of the global market. The Asia-Pacific region, is predicted to cite the fastest CAGR of 5.6% during the forecast period.
The key players analyzed in the global aircraft windshield wiper and washer system market report include Raytheon Technologies, Safran SA, Falgayrs, Bombardier, Eaton, General Dynamics, GKN Aerospace, LMI aerospace Inc., Mitsubishi Heavy Industries, and SIFCO industries Inc.
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