Market Overview:
The global cargo compartment latches market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for air travel, rising number of aircraft deliveries, and the need for lightweight and durable fasteners. Based on type, the small size segment is expected to account for a larger share of the global cargo compartment latches market during the forecast period. This can be attributed to its low weight and easy installation. However, large size segment is projected to grow at a higher CAGR owing to its ability to handle high loads. Based on application, fixed wing aircraft segment is anticipated hold major share in terms of revenue during 2018-2030.
Product Definition:
Cargo compartment latches are a type of latch used to secure the cargo area of a vehicle. They are typically used in conjunction with other types of locks, such as door locks, to keep the contents of the cargo area safe. Cargo compartment latches can also be used to keep items from sliding around in the back of a vehicle.
Small Size:
Small size is a term used for designating the dimension of an object, which is less than or equal to 9 inches in length. The small size category of cargo compartment latches market can befits for any kind of equipment that has dimensions less than or equal to 9 inches in length and width. Small size products are mostly utilized as components in larger machines and tools that have a wide range of applications such as packaging equipment, material handling vehicles among others.
Large Size:
Large size is a term used for the dimension of an object that can be lifted or carried by a person with maximum load. The large size and weight terms are applied to objects which are larger than average humanoids, but not so huge as to be unapproachable. In general, large things take up more space in a given container or vehicle; therefore they require more cargo space in order to carry them. Large Things have different sizes depending upon their use and characteristics.
Application Insights:
The others application segment includes seaplane, train and truck cargo compartments. Seaplane compartments are expected to witness significant growth over the forecast period owing to their increasing use in offshore oil exploration activities. The demand for helicopters is also expected to grow at a rapid pace owing to their ability touse various types of terrain and short landing sites, which makes them ideal for inter-city travel as well as intra-city travel in urban areas. Fixed wing aircraft is the most preferred mode of transport due largelyto its efficiency and reliability coupled with low operational costs when compared with other modes of transport such as air taxi or commercial helicopter services.
Fixed wing aircraft cargoes include dry goods such as electronics equipment along with perishable commodities including fruits & vegetables that require refrigeration during transportation.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing foreign investments in countries such as China, India, Singapore, Thailand and Indonesia. Moreover, rising air passenger traffic has resulted in an increased demand for aircraft maintenance services which will drive the regional market further.
The European region accounted for a significant share of revenue in 2017 owing to high demand from aircraft manufacturers for cargo compartment latches that are used on large size commercial planes such as Boeing 747s and Airbus A380s among others Fixed Wing Aircraft (FWA) segment is expected to dominate the global industry due to high production volume of military & defense aircraft including Eurofighter Typhoon Tranche 1-3 (TT1), Lockheed Martin F-35 Lightning II TT2 & 3 (fifth generation fighters) along with other helicopters manufactured by AgustaWestland S-61Ei/Hawk helicopter family among others).
Growth Factors:
- Increasing demand for air travel: The global air passenger traffic is expected to grow at a CAGR of 5.4% from 2016 to 2021. This will result in the increase in demand for cargo compartment latches, as they are used to secure baggage and other cargo during transit.
- Technological advancements: Cargo compartment latches are witnessing increasing adoption of advanced technologies such as RFID and NFC tags, which help improve security and tracking of baggage/cargo during transit.
- Stringent safety regulations: Stringent safety regulations by aviation authorities across the globe are driving the need for more reliable and secure cargo compartment latches systems. For instance, FAA has mandated that all commercial aircraft must be equipped with child-resistant locks by December 2017 .
Scope Of The Report
Report Attributes
Report Details
Report Title
Cargo Compartment Latches Market Research Report
By Type
Small Size, Large Size
By Application
Fixed Wing Aircraft, Helicopter, Others
By Companies
Adams Rite Aerospace Inc, Hartwell Corporation, Inteva Products, Ancra aircraft, Lisi aerospace, WTI, MINGO Aerospace, Airforms, Inc., Ancra Aircraft
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Cargo Compartment Latches Market Report Segments:
The global Cargo Compartment Latches market is segmented on the basis of:
Types
Small Size, Large Size
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Fixed Wing Aircraft, Helicopter, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Adams Rite Aerospace Inc
- Hartwell Corporation
- Inteva Products
- Ancra aircraft
- Lisi aerospace
- WTI
- MINGO Aerospace
- Airforms, Inc.
- Ancra Aircraft
Highlights of The Cargo Compartment Latches Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Small Size
- Large Size
- By Application:
- Fixed Wing Aircraft
- Helicopter
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Cargo Compartment Latches Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Cargo compartment latches are a type of safety latch that secure cargo in the cargo compartment of a vehicle.
Some of the major players in the cargo compartment latches market are Adams Rite Aerospace Inc, Hartwell Corporation, Inteva Products, Ancra aircraft, Lisi aerospace, WTI, MINGO Aerospace, Airforms, Inc., Ancra Aircraft.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cargo Compartment Latches Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cargo Compartment Latches Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cargo Compartment Latches Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cargo Compartment Latches Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cargo Compartment Latches Market Size & Forecast, 2020-2028
4.5.1 Cargo Compartment Latches Market Size and Y-o-Y Growth
4.5.2 Cargo Compartment Latches Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Small Size
5.2.2 Large Size
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Fixed Wing Aircraft
6.2.2 Helicopter
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Cargo Compartment Latches Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cargo Compartment Latches Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Small Size
9.6.2 Large Size
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Fixed Wing Aircraft
9.10.2 Helicopter
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Small Size
10.6.2 Large Size
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Fixed Wing Aircraft
10.10.2 Helicopter
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Small Size
11.6.2 Large Size
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Fixed Wing Aircraft
11.10.2 Helicopter
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Small Size
12.6.2 Large Size
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Fixed Wing Aircraft
12.10.2 Helicopter
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Small Size
13.6.2 Large Size
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Fixed Wing Aircraft
13.10.2 Helicopter
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Cargo Compartment Latches Market: Competitive Dashboard
14.2 Global Cargo Compartment Latches Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Adams Rite Aerospace Inc
14.3.2 Hartwell Corporation
14.3.3 Inteva Products
14.3.4 Ancra aircraft
14.3.5 Lisi aerospace
14.3.6 WTI
14.3.7 MINGO Aerospace
14.3.8 Airforms, Inc.
14.3.9 Ancra Aircraft
