by The aircraft radome refers to a structural, weatherproof enclosure that protects the radar antennas placed on military and commercial aircraft. Radomes are made from lightweight, durable materials such as composites, plastics, ceramics, and metals to withstand corrosion, temperature fluctuations, and harsh weather conditions while allowing radio frequency electromagnetic signals from the antennas to propagate. The rising geopolitical tensions are compelling countries worldwide to enhance their air defense systems. This is propelling investments in next-generation fighter jets, airborne early warning, and control (AEW&C) aircraft mounted with cutting-edge radar technologies. This in turn is positively impacting the growth of the global aircraft radome market.
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 2031.
Key Takeaways
Key players operating in The Aircraft Radome Market are Scotts Miracle-Gro Company, National Fertilizers Ltd., and Fertikal N.V. These players are investing heavily in R&D to develop advanced radome materials offering high dielectric constant, low density, and greater durability.
The rising demand for military surveillance, airborne situational awareness and multi-mission platform aircraft globally presents significant opportunities for aircraft radome manufacturers. Several countries are procuring AEW&C aircraft as part of their maritime security and border control enhancement programs. This will augment the product demand.
North America currently dominates the global aircraft radome market due to high military aircraft procurement in the US. However, Asia Pacific is expected to emerge as the new hotspot owing to rapid aviation infrastructure development and military modernization programs in China and India. Original equipment manufacturers are expanding radome component manufacturing facilities in these regions to cater to the rising local demand.
Market drivers
The uptick in defense expenditures of major economies is a key driver for the aircraft radome market growth. According to estimates, the global defense budget rose to over USD 1.8 trillion in 2018 from 1.6 trillion in 2015. This has encouraged the procurement of new-generation combat jets, which utilize advanced radomes for radars. Continued investments in the defense sector will further drive the market over the forecast period.
PEST Analysis
Political: Regulations regarding international trade are impacting the aircraft radome market. Government support for defense budgets affects demand.
Economic: Economic growth influences travel and cargo volumes, thus impacting demand from commercial aviation. Defense budget changes impact demand from military aviation.
Social: Population and income growth impact travel trends, driving demand for new/expanded aviation fleets. Environmental initiatives push adoption of lightweight composite radomes.
Technological: Advancements in avionics, connectivity and related systems drive the need for improved aerodynamic/weight performance from radomes. New materials enable reduced weight, higher bandwidth capabilities.
Regions Where Market Value is Concentrated
North America holds the largest share of the global aircraft radome market in terms of value, due to strong defense budgets and a large commercial aviation industry in the US. Europe is the second largest market due to strong defense capabilities and commercial aviation presence. The Asia Pacific region is also a major market led by China, India, and other developing economies with expanding aviation and defense sectors.
Fastest Growing Region
The Asia Pacific aircraft radome market is projected to grow at the fastest rate through 2031. This is due to rapid infrastructure development and industrialization across developing Asian countries, fueling rising passenger and cargo traffic. Countries like China and India are boosting their defense budgets while expanding civil aviation, driving new aircraft procurements and radome upgrades.
