Aircraft Mounts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Aircraft Mount Market is anticipated to register a CAGR of 8% during the forecast period.

The COVID-19 pandemic had a negative effect on the aircraft mount market. The onset of the pandemic led in declining in the number of air passenger traffic as well grounding of various flights worldwide. The pandemic also led to a shortage in terms of materials and components which are required by the manufacturers to manufacture the aircraft mounts. Moreover, the pandemic also led to a significant decline in air travel thereby limiting the growth of aircraft mounts. A shortage in the components owing to regulations associated with the import and export of goods also led to a negative effect on the market. Travel bans and lockdowns also hampered the market. On the other hand, the decline in the number of COVID-19 cases led to the market witnessing gradual growth. A rise in the number of air passenger traffic as well as the opening up of borders has also led to growth in air travel in various countries. This, in turn, has propelled the growth in aircraft mounts and the opening of borders has also led to availability in terms of materials and components which has led to manufacturers increasing the production of aircraft mounts and meeting the demand requirements. Thus, the market is expected to witness significant growth during the forecast period.

The significant increase in air passenger traffic, the surge in the demand for new aircraft, and an increase in the maintenance, repair, and overhaul operations are the main factors that are driving the aircraft mount market. Moreover, an increasing need for providing comfort and safety to the passengers as well as an increasing need to reduce pilot fatigue on long-distance flights has led to an increase in the demand for aircraft mounts globally. Moreover, growing technological advancements and the rise in the development of customized payload mounts will also propel the growth of the market during the forecast period.

Aircraft Mounts Market Trends

The Exterior Mount is Expected to Witness Significant Growth During the Forecast Period

By mount type, the exterior mount is expected to witness significant growth during the forecast period. External mounts are mostly used in commercial as well as general aviation to improve the passenger cabin storage capacity, as well as seating constructions. In addition to pedestal mounts, other options for external mounting include multiplane, shock, platform, and sandwich mounts. The bulk of external mounts in the commercial market is installed due to the increased availability in terms of modern cabin storage and passenger comfort. Over the next few years, the aviation industry is expected to witness significant growth owing to increased safety measures for the most crucial parts of an aircraft. As external mounts do not require high maintenance as compared to internal mounts, thus the maintenance and repair of external mounts are much less as compared to internal mounts. Moreover, growth in the number of commercial aircraft owing to a rise in aviation passenger traffic will also lead to a growth in the demand for a number of external mounts for aircraft and this will lead to the market witnessing growth during the forecast.

The North American Region is Expected to Witness Significant Growth During the Forecast Period

The North American region is expected to witness significant growth during the forecast period. The increase in the number of aviation operations, increased aircraft deliveries in the region as well as increased air passenger traffic numbers will be the main reason for the growth of the market during the forecast period. On the other hand, a well-established aviation industry and increasing low-cost air travel, and the presence of various airline service providers in the area will lead to growth in the market. According to the data released by the United States Department of Transportation, in February 2022, network carriers reported 519,952 scheduled domestic flights, and of those 23,421 which accounts for 4.5 % were canceled. On the other hand, in February 2021, the same airlines reported 350,170 scheduled domestic flights and 20,201 flights that were canceled. In addition, according to the Bureau of Transportation Statistics, airline carriers in the United States carried 46.3 million scheduled service passengers in January 2022 which was more by 33.2% than January 2021.

The United States, in the present scenario, is also witnessing an increase in the number of aircraft deliveries owing to the decline of the COVID-19 pandemic in the country. Aircraft OEM Boeing, in 2022 announced that they are in plans to ramp up their production and deliveries of new aircraft. Although supply chain problems, as well as labor problems that occurred during the COVID-19 pandemic, led to hampering the delivery of aircraft, Boeing now in plans to increase their production process and deliver between 400-450 737 aircraft in the next year. This prediction by Boeing is more than the current 375 aircraft which were delivered in 2022 by Boeing. Thus, the increase in the number of aircraft deliveries will lead to an increase in the demand for aircraft mounts and this will lead to a growth of the market during the forecast period.

Aircraft Mounts Market Competitor Analysis

The aircraft mount market is highly fragmented, owing to a number of players providing different aircraft mounts based on different technologies. Some of the prominent players in the aircraft mount market are GMT Rubber-Metal-Technic Ltd., Mayday Manufacturing, Hutchinson Aerospace GmbH, Cadence Aerospace, and Trelleborg Group amongst others. Investments in the development of advanced aircraft mounts by various manufacturers for providing increased safety to the passengers and reducing damage to critical aircraft components as well as reducing pilot fatigue are expected to help them gain a competitive edge over the other competitors. Moreover, companies are also leveraging strategic collaborative initiatives to increase market share and profitability.

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