New York, USA, March 29, 2023 (GLOBE NEWSWIRE) -- As per the newly published report by Research Dive, the global aircraft doors market is anticipated to grow at a stunning CAGR of 6.2%, thereby garnering a revenue of $9,057.5 million in the 2022-2031 timeframe. This comprehensive report provides a brief outlook of the current framework of the aircraft doors market including its major characteristics like growth drivers, growth opportunities, restraints, and hindrances during the analysis period of 2022-2031. All the necessary and essential market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: In the recent years, there has been an increase in the aircraft manufacturing across the world which is predicted to be the primary growth driver of the aircraft doors market in the forecast period. Additionally, authorities' increased attention to replacing outdated aircraft doors is expected to push the market forward.
Opportunities: Growing demand for lightweight aircraft doors to reduce the overall weight of the aircraft is anticipated to offer numerous growth opportunities to the market in the forecast period. Along with this, growing number of aircraft passengers globally is expected to help the market grow in the forecast period.
Restraints: The high manufacturing cost of aircraft doors, however, might prove to be a hindrance in the growth trajectory of the aircraft doors market.
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Impact of Covid-19 on the Market
The Covid-19 pandemic affected millions of lives, directly or indirectly. The lockdowns ordered by various countries to curb the spread of the disease affected numerous industries by hampering global supply chains. The aircraft doors market also faced a negative impact of the pandemic. The lockdowns and travel restrictions led to disruption in global supply chains which hampered the supply of raw materials required for manufacturing of aircraft doors. This brought down the growth rate of the market.
Segments of the Market
The report has divided the aircraft doors market into certain segments based on door type, aircraft type, end-user, and region.
Door Type: Passenger Doors Sub-segment to be Highly Dominant
The passenger doors sub-segment is expected to be highly dominant during the forecast period. Increasing existence of numerous passenger doors in a wide-body aircraft, paired with its lower price is expected to help in the growth of this sub-segment.
Aircraft Type: Commercial Sub-segment to Have a Significant Market Share
The commercial sub-segment is expected to have one of the largest market shares by 2031. Growing global air passenger traffic has led to an increase in commercial aviation sector which is predicted to propel the growth of this sub-segment in this forecast period.
End-User: OEM Sub-segment to be the Most Dominant
The OEM sub-segment is expected to be highly dominant during the forecast period. Increased aircraft deliveries, new aircraft programs, and replacement of older aircrafts are expected to help in the growth of this sub-segment.
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Market in North America Region to be the Most Lucrative
By regional analysis, the aircraft doors market in the North America region is anticipated to be the most profitable by 2031. Increased spending on air travel by consumers in this region is anticipated to be the main growth driver of the market.
Prominent Market Players
Some of the key players in the aircraft doors market are
- Groupe Latécoère
- SAAB
- Hellenic Aerospace Industry
- Aviation Technical Services
- FACC AG
- Potez Aéronautique
- Altitude Aerospace
- Airbus
- Primus Aerospace
- Collins Aerospace
These key players are devising new technologies and smart innovations to gain a prominent position in the global market.
For instance, in April 2021, All Nippon Airways (ANA), a Japanese airline, announced that it was partnering with JAMCO Corporation, an aircraft manufacturing company. This partnership is aimed at designing, developing, and installation of world’s first hands-free lavatory doors on 21 aircrafts. This partnership is thus, expected to boost the market share of both the companies in the coming period.
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Finally, the report also summarizes many crucial aspects of the global market including SWOT analysis, latest strategic developments, product portfolio, and financial performance of the key players.
More about Aircraft Doors Market:
- Unlocking the Future: An Exploration of the Latest Aircraft Door Developments
- Global Aircraft Doors Market to Generate $9,057.5 Million in the 2022–2031 Timeframe Due to the Growing Demand for Lightweight Aircraft Doors
