Pune, India, June 13, 2023 (GLOBE NEWSWIRE) -- The global aerostructures market size was USD 44.93 billion in 2020. The market is projected to grow from USD 47.40 billion in 2021 to USD 80.48 billion in 2028 at a CAGR of 7.86% in the 2023-2028 period.
The aerostructures market is a significant segment within the aerospace industry and plays a vital role in the production of commercial, military, and general aviation aircraft. The market includes various players such as manufacturers, suppliers, and subcontractors who collaborate to deliver high-quality and technologically advanced aerostructures.
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List of Key Players Profiled in the Aerostructures Market Report:
- AAR Corporation (Illinois, U.S.)
- Bombardier Inc. (Montreal, Canada)
- Cyient Ltd. (Hyderabad, India)
- GKN plc (Redditch, U.K.)
- Leonardo S.P.A. (Italy)
- RUAG International Holding AG (Bern, Switzerland)
- Saab AB (Sweden)
- Spirit AeroSystems Holdings Inc. (Wichita, U.S.)
- STELIA Aerospace Group (France)
- Triumph Group, Inc. (Berwyn, U.S.)
- Collins Aerospace (Charlotte, U.S.)
- Elbit Systems Ltd. (Haifa, Israel)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2021-2028 |
| Forecast CAGR | 7.86% |
| 2028 Value Projection | USD 80.48 billion |
| Market Size in 2021 | USD 47.40 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Aerostructures Market Growth Drivers | Increasing Demand for UAVs to Propel Market Growth |
| Increasing Adoption of Composite Components to Propel Market Growth |
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The aerostructures market refers to the industry involved in the design, manufacturing, and assembly of aircraft structural components. Aerostructures are the primary load-bearing structures of an aircraft, including wings, fuselage, empennage (tail assembly), and other structural elements. These components are critical for the integrity and performance of an aircraft.
SEGMENTATION
On the basis of component, the market is classified into wings, nose, fuselage, nacelle and pylon, empennage, and others.
Based on material, the market is segregated into alloys, composite, and metals.
In terms of platform, the market is categorized into fixed-wing aircraft and rotary-wing aircraft.
By end-use, the market is divided into OEMs and aftermarket.
Geographically, the market is branched into North America, Europe, Asia Pacific, and the Rest of the world.
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DRIVING FACTORS
Rising Demand for Unmanned Aerial Vehicles to Endorse Growth
The rising emphasis on advancing the defense services by the countries across the world is augmenting the demand for UAVs. These unmanned vehicles are extensively being implemented owing to the rising border disputes and conflicts.
The rising acceptance of UAVs is thrusting the demand for advanced aerostructures components to safeguard stringent alertness and security along the boundaries. This, combined with technological progressions in manufacturing is projected to bolster the aerostructures market growth during the forecast period.
REGIONAL INSIGHTS
North America to Lead Market due to an Expansive Aviation Sector
North America held the highest aerostructures market share and is projected to lead the global market during the forecast period. This is accredited to the surging business and commercial aviation industry in the region that has the biggest aerospace and defense aircraft demand worldwide.
Asia Pacific is estimated to display the fastest growth in the region during the forecast period. The growth can be accredited to the augmenting emphasize on the development of the aircraft manufacturing units in the region.
Europe held the second largest market share in 2020. This is credited to the increasing aircraft component demand from key aircraft manufacturing divisions of Airbus SE and ATR from nations such as Germany, Italy, France, and the U.K, among others.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Aerostructures Market
- Impact of COVID-19 Pandemic on Global Aerostructures Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Potential Opportunities due to COVID-19 Outbreak
- Global Aerostructures Market Analysis, Insights and Forecast, 2017-2028
- Segmental Definitions
- Market Analysis, Insights and Forecast – By Component
- Wings
- Nose
- Fuselage
- Nacelle and Pylon
- Empennage
- Others
- Market Analysis, Insights and Forecast – By Material
- Alloys
- Metal
- Composite
TOC Continued…!
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COMPETITIVE LANDSCAPE
Partnerships among Companies to Secure Their Brand Values in Global Market
Important players in this market are incessantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering up with other companies to extend their reach to end-users.
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