The global aircraft mounts market size is estimated to be USD 606 million in 2019 and is projected to reach USD 915 million by 2025, at a CAGR of 7.1% from 2019 to 2025. The aircraft mounts industry has been growing at a significant rate since the past few years and is expected to continue during the forecast period. The demand for mounts in aviation applications is growing, due to increasing emphasis to enhance safety and comfort in aircraft.
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The global aircraft mounts market report provides an analysis of the market from 2019 to 2025. It discusses the prevailing industry and technology trends, along with the drivers, restraints, challenges, and opportunities. The market is projected to grow from USD 606 million in 2019 to USD 915 million by 2025, at a CAGR of 7.1% during the forecast period.
The market in Asia Pacific is projected to grow at the highest CAGR during the forecast period. The aviation industry is growing at a significant pace in the Asia Pacific region, due to the increasing air passenger traffic. The growth in air passenger traffic has resulted in an increased demand for new aircraft, which, in turn, is expected to boost the aircraft mounts market during the forecast period.
Based on end use, the replacement segment is projected to grow at a higher CAGR during the forecast period as compared to the OEM segment. The timely inspection of aircraft mounts is essential to ensure effective functioning of aircraft to avert the chances of engineering equipment getting damaged. This, in turn, is increasing the demand for replacement of aircraft mounts.
Based on application, the engine mounts segment is projected to lead the global aircraft mounts market during the forecast period. Engine mounts are commonly known as flexible or elastic shock mounts. If the engine is subjected to abnormal shocks or loads, metal snubbers in these mounts limit the excessive movement of the engine. With growing efforts to protect engineering equipment in aircraft to enhance operational capabilities, engine mounts are expected to witness a rapid demand during the forecast period.
Based on material, the aluminum alloys segment is projected to grow at the highest CAGR during the forecast period. Aluminum alloys are widely used in manufacturing modern aircraft. The focus of aircraft manufacturers to reduce weight and improve durability increases the demand for aluminum alloys. Aluminum alloys have a high strength-to-weight ratio, are corrosion resistant and are comparatively easy to fabricate.
Based on aircraft type, the military aircraft segment is projected to grow at the highest CAGR during the forecast period. The military aircraft segment is further segmented into fighter jets, transport aircraft, and military helicopters. Increasing budget allocations for the procurement of military equipment by governing bodies is further expected to have a significant impact on the growth of the military aircraft subsegment.
Based on region, the aircraft mounts market is segmented into various regions (OEM—North America, Europe, Asia Pacific, Latin America, and the Middle East; Replacement—North America, Europe, Asia Pacific, the Middle East, and Rest of the World).
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Key Market Players
Key players in the aircraft mounts market are LORD Corporation (US), GMT Rubber-Metal-Technic Ltd. (UK), Trelleborg AB (Sweden), Cadence Aerospace (US), MAYDAY Manufacturing (US), Shock Tech, Inc. (US), AirLoc Ltd. (US), VMC Group (US), and VibraSystems Inc. (US), among others.