Aircraft Mounts Market Growth & Trends
The global aircraft mounts market size is expected to reach USD 1.1 billion by 2027, registering a CAGR of 7.8% according to a new report by Grand View Research Inc. Increasing production of commercial aircraft for major airlines across the globe are anticipated to ascend the demand for aircraft mounts. Moreover, production of pending orders from prominent manufacturers is likely to support the market growth.
Rising concerns regarding passenger safety and enhanced comfort are likely to increase the scope of mount installation. Specialty mounts for latest gadgets, laptops, mobiles phones, and books are likely to gain traction in commercial aircraft segment, thus, positively influencing the market.
Safety concerns for engine components, suspensions, vibration/shock Isolation and its stable installation to absorb shock and excess vibration while landing and take-off are anticipated to ascend the demand for mounts. Moreover, installation of enhanced quality mounts in military grade aircrafts is expected to provide growth prospect to the market in the estimated time.
Key industry participants including Lord Corporation, AirLoc Ltd., Hutchinson Aerospace GmbH, Trelleborg AB, GMT Rubber, Cadence Aerospace LLC among others are engaged in the production of mounts for commercial, military and general aviation aircrafts. Moreover, the players are focusing on production of specialty mounts to incorporate large size engine components in commercial and military aircrafts.
Aircraft Mounts Market Report Highlights
- Commercial aircraft type is expected to expand at the fastest CAGR of 8.8% over the forecast period owing to increasing production of commercial planes for major airlines across the globe
- In 2019, engine mounting application dominated the market with a share of over 52.5% and is anticipated to expand at a CAGR of 7.9% over the forecast period on account of engine safety concerns
- In Europe, the revenue for external mounts stood at USD 144.5 million in 2019 and is likely to witness steady growth over the projected period on account of growing acceptance of modern mounts for electric gadgets
- North America held the largest market share in 2019 owing to the well-established aerospace industry and the presence of a large number of manufacturers
- Aftermarket installation of aircraft mounts is anticipated to ascend at a CAGR of 8.9% over the forecast period on account of increasing repair and periodic maintenance of commercial aircrafts