Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Aerostructures Market Report 2023": by Material (Composites, Alloys & Superalloys and Metals), Component, End User (OEM, Aftermarket), Aircraft Type (Commercial Aviation, Business & General Aviation, Military Aviation, UAVs and AAM), Region - Global Forecast to 2028report has been added to ResearchAndMarkets.com's offering.
The Aerostructures market is projected to grow from USD 61.0 billion in 2023 to USD 84.0 billion by 2028, at a CAGR of 6.6% from 2023 to 2028
The market for aerostructures is driven by various factors such as increased adoption of composite materials and a decline in the cost of composite materials. However, obstacles associated with recycling composite materials and high capital investments are limiting the overall growth of the market.
Flight Control Surfaces: The second largest share in the component segment in the aerostructures market in 2023.
The flight control surfaces segment is projected to have the second-largest share in 2023. The increased use of composite materials to reduce fatigue of flight control surfaces to increase efficiency is driving the growth of this market segment. The need to improve aerodynamics and increase advanced manufacturing techniques are also influencing the growth of flight control surfaces.
Military Aviation: The second largest share in the aircraft type segment in the aerostructures market in 2023.
The military aviation segment is projected to have the second-largest share in 2023. The increasing modernization programs for military aircraft, Increasing investments in the military are driving the growth of the military aviation segment. Increasing procurement of military aircraft and military helicopters is also influencing the growth of this segment.
The European region is estimated to have the second-largest share in the aerostructures market in 2023.
Europe is estimated to account for the second-largest share in the aerostructures in 2023. The European region for this study comprises France, the UK, Russia, Germany, Italy, and the Rest of Europe. Increasing investment in R&D, growing adoption of unmanned aircraft and continuous R &D focus on advanced aircraft is projected to drive the growth of the aerostructures market.
Competitive landscape
Major Players in the aerostructures market are Triumph Group (US), Latecoere (France), Saab AB (Sweden), Airbus SE (Netherlands) and Elbit Systems (Israel)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 272 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $61 Billion |
| Forecasted Market Value (USD) by 2028 | $84 Billion |
| Compound Annual Growth Rate | 6.6% |
| Regions Covered | Global |
Premium Insights
- Increased Demand for Advanced Air Mobility and Introduction to Lightweight Aircraft Materials
- Fuselages to Secure Leading Market Position from 2023 to 2028
- Oem to Acquire Maximum Market Share by 2028
- UAE to be Fastest-Growing Country During Forecast Period
Market Dynamics
Drivers
- Preference for Efficient and Sustainable Aerostructures
- Technological Advancements Associated with Aerostructures
- Increased Adoption of Composite Materials
Restraints
- Obstacles Associated with Recycling Composite Materials
- High Capital Investment
Opportunities
- Expansion of Mro Services
- High Demand for UAVs
- Decline in Cost of Composite Materials
Challenges
- Supply Chain Constraints and High Shipping Costs
- Regulatory Compliance
- Lack of Skilled Labor
Value Chain Analysis
- Raw Materials
- R&D
- Component Manufacturing
- Oems
- End-users
Aerostructures Market Ecosystem
- Prominent Companies
- Private and Small Enterprises
- End-users
Technology Analysis
Key Technology
- Development of Robots
- Supporting Technology
- Use of Computational Fluid Dynamics (CFD)
Use Case Analysis
- Use Case 1: Use of Smart Structures by Collins Aerospace
- Use Case 2: Use of Advanced Materials in Aerostructures
- Use Case 3: Use of Additive Manufacturing
Industry Trends
Technology Trends
- Automation
- Additive Manufacturing
- Internet of Things (IoT)
- Morphing Technology for Wings
- 4D Printing
Impact of Megatrends
- Advanced Composite Materials
- Industry 4.0
Company Profiles
Key Players
- Airbus Se
- Spirit Aerosystems Inc.
- Raytheon Technologies Corporation
- Leonardo S.P.A.
- Gkn plc
- Safran Sa
- Saab Ab
- Facc Ag
- Kawasaki Heavy Industries Ltd.
- St Engineering
- Kaman Corporation
- Ruag International Holding Ltd.
- Latecoere
- Elbit Systems Ltd.
- Triumph Group
- Korea Aerospace Industries Ltd.
- Israel Aerospace Industries Ltd.
- Mitsubishi Heavy Industries Ltd.
- Aar Corporation
- Aerospace Industrial Development Corporation (Aidc)
Other Players
- Sonaca Group
- Aernnova Aerospace S.A
- Aero Vodochody
- Turkish Aerospace Industries, Inc.
- Sabca Nv
- Daher
- The Nordam Group LLC
- Precision Castparts Corporation
- Composites Technology Research Malaysia Sdn Bhd (Ctrm)
- Mecachrome Group
For more information about this report visit https://www.researchandmarkets.com/r/o0czbo
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