According to a new report published by Allied Market Research, titled, “Aircraft Windshield Wiper and Washer System Market,” The aircraft windshield wiper and washer system market was valued at $86,525.60 thousand in 2020, and is estimated to reach $129,937.70 thousand by 2030, growing at a CAGR of 4.2% from 2021 to 2030.
Presently, the global aircraft windshield wiper and washer system market is dominated by North America followed by Europe, Asia-Pacific, and LAMEA. In North America, the market is mainly driven by US owing to the optimistic market scenario for considerably air travel and aviation industry in the region. In Asia, India is foreseen to witness considerable growth in aircraft windshield wiper and washer system market during the forecast period.
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The aircraft windshield wiper and washer system market is segmented on the basis of type, application type and region. By type segment the market is divided into line fit and retrofit. By application, the market is segmented into commercial aircraft, military aircraft and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Furthermore, factors such as rise in air traffic coupled with demand for new aircrafts, Increase in Maintenance, Repair, and Operations (MRO) activities, increasing military spending is expected to reinforce the new aircrafts demand, which further anticipated to propel the need for windshield wiper and washer system in near future. In addition, increase in need for safety & security boosts the market growth. However, growing inclination of alternatives such as hydrophobic coating, ice detection systems, and others could hinder the windshield wiper and washer system market growth. Moreover, growing inclination toward efficient windshield wiper and washer systems with minimal drag are anticipated to provide remunerative opportunities for market expansion.
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Covid-19 Impact Analysis:
COVID-19 has presented the world with an unprecedented economic, humanitarian, and healthcare challenge. Lockdown measures have helped to contain the spread of coronavirus, but exacted an immense economic toll. On the business side, the aerospace sector is one of the considerably hit sectors. Following the pattern witnessed in countries where COVID-19 spread earlier, lockdown measures and other restrictions have impacted the air travel. Furthermore, coronavirus has introduced unexpected challenges within the aircraft industry. However, With the relaxation of lockdown measures and the consequent opening of markets across the world, the demand for aircraft windshield wipers and washer systems is anticipated to grow considerably in the near future.
KEY FINDINGS OF THE STUDY
By type, the line fit segment dominated the global aircraft windshield wiper and washer system market in 2020, in terms of revenue.
By application, the commercial aircraft segment is expected to register significant growth, registering a CAGR of 4.3% during the forecast period.
By region, North America dominated the global aircraft windshield wiper and washer system market in 2020 in terms of market share.
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The key players analyzed in the aircraft windshield wiper and washer system market 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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