USD 47.4 billion
Report ID: SQMIG20A2188 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 124 | Figures: 77
Aerostructures Market size was valued at USD 47.4 billion in 2021 and is poised to grow from USD 51.13 billion in 2022 to USD 101.01 billion by 2030, growing at a CAGR of 7.86% in the forecast period (2023-2030).
The term aerostructure refers to all of the structural components of an aircraft's airframe or body. Aerostructures assist an aircraft in functioning and withstanding aerodynamic forces, and they encompass all of the parts that assist an aircraft in flying. Wings, fuselages, propulsion systems, and flight control surfaces are components of it. The aerostructure market is expanding due to the increasing demand for new aircraft as well as the specific requirement for various replacement parts.
Aerostructure companies manufacture aerostructures primarily for commercial aeroplanes all around the world. The growing number of passengers have encouraged aerostructure companies to produce aerostructures, propelling the aerospace equipment industry. Aerospace manufacturers are also implementing innovative ways to improve aircraft performance, and the production of aerostructures is expanding.
Furthermore, the use and development of composite materials for aircraft manufacturing are propelling market expansion. The advancement of technology has enabled manufacturers to detect material deterioration and access the structure of the aircraft using a computer or infrared light to assess durability and performance. These studies can be used to assess market performance of structures, as aerostructures play an important role in aircraft operation. From helicopters and military jets to passenger and commercial jets, aerostructures are critical.
US Aerostructures Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 47.4 billion
To get more reports on the above market click here to Buy The Report
Global aerostructures market is segmented based on components, materials, platform, end use, and region. Based on components, the market is segmented into wings, nose, fuselage, nacelle and pylon, empennage, others.
Based on material, the market is segmented into alloys, metals, and composite. Based on platform, the market is segmented into fixed wing aircraft (Commercial aircraft, military aircraft, business jets aircraft, general aviation aircraft, UAVs) Rotary wing aircraft (Commercial & Civil helicopters, Military helicopters, UAVs). Based on end user, the aerostructures market is divided into aftermarket & OEM.
Aerostructures Market Analysis by Component Type:
The fuselage segment in global aerostructures market is expected to grow at 8% CAGR by 2030, owing to increased aircraft manufacturing. Participants in the aviation sector are boosting their manufacturing capacity in order to decrease the previous production backlog. Fuselage is the main component of the aeroplane body that transports passengers and crew members. Growing commercial and military aircraft manufacturing will increase demand for fuselages.
Aerostructures Market Analysis by Materials:
Alloys material segment had more than 58% market share in 2022 since these reduce total aircraft weight and aid in increasing performance. Due to their good fatigue, low density, cryogenic toughness, and high specific modulus qualities, alloys are commonly used in aerostructures. Government laws force the aircraft industry to cut fuel use, hence lowering carbon emissions. As a result, companies are producing lightweight alloys that are best suited to reducing the total weight of the aircraft.
To get detailed analysis on other segments, Request For Sample Report
North America to Dominate the Global Aerostructures Market
Geographically, the global aerostructures market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest market share and is expected to dominate the global market. In 2022, Europe had the second-largest market share.
The growth is attributable to expanding aircraft component demand from key players Airbus SE and ATR aircraft production plants in countries such as Germany, Italy, France, the United Kingdom, and others. Furthermore, leading players such as Saab AB, Leonardo S.P.A., and GKN Aerospace, among others, will contribute to market growth throughout the projection period. Due to the region's small number of aeroplane part makers, the rest of the world will experience moderate growth in the market during the forecast period.
Furthermore, rapid adoption of new manufacturing technologies and significant investment in R&D activities are likely to boost market expansion.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Aerostructures Market Driver
Increasing UAVS Demand and Increasing Composite Component Adoption to Drive Market Growth
Aerostructures Market Restraint
Difficult to Recycle Composite Materials Limiting Market Growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The global aerostructures market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students.
Top Players in the Global Aerostructures Market
Aerostructures Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global aerostructures market report analysis, fuselage segment in global aerostructures market is expected to grow at 9% CAGR by 2030, owing to increased aircraft manufacturing. Increase in demand for UAVS in military and commercial applications drives the market growth. Geographically, North America will dominate the market due to its rapid adoption and utilisation of technology.
|Market size value in 2021
|USD 47.4 billion
|Market size value in 2030
|USD 101.01 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Aerostructures Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Aerostructures Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Aerostructures Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Aerostructures Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global aerostructure market was valued at USD 47.40 billion in 2021 and it is expected to reach at USD 80.48 billion by 2028, at a CAGR of 7.86% over the forecast period.
The global aerostructures market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students. 'AAR Corporation (U.S.)', 'Bombardier Inc. (Canada)', 'Cyient Ltd. (India)', 'GKN plc (U.K.)', 'Leonardo S.P.A. (Italy)', 'RUAG International Holding AG (Switzerland)', 'Saab AB (Sweden)', 'Spirit AeroSystems Holdings Inc. (U.S.)', 'STELIA Aerospace Group (France)', 'Triumph Group, Inc. (U.S.)', 'Collins Aerospace (U.S.)', 'Elbit Systems Ltd. (Israel)'
The important factor driving the expansion of the aerostructures market is the increase in demand for UAVS in military and commercial applications. The increased number of border clashes and disagreements between adjacent countries is driving the need for military unmanned vehicles. As a result, the procurement of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) unmanned aerial vehicles (UAVs) is expanding in order to improve intelligence, surveillance, and reconnaissance (ISR) capabilities. These UAVs have a long endurance of 24 to 48 hours and fly at a greater altitude, which helps to boost military mission capabilities. Furthermore, UAVs built of composite materials outperform regular UAVs in terms of performance.
North America to Dominate the Global Aerostructures Market
The global aerostructure market was valued at USD 47.40 billion in 2021 and it is expected to reach USD 80.48 billion by 2028, at a CAGR of 7.86% over the forecast period.
North America held the largest market share and is expected to dominate the global market.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.