USD 47.4 billion
Global Aerostructures Market Size, Share, Growth Analysis, By Component(Wings, Nose), By Materials(Alloys, Metals), By Platform(Fixed wing aircraft (Commercial aircraft, Military aircraft), By End user(Aftermarket, OEM) - Industry Forecast 2024-2031
Report ID:
SQMIG20A2188 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
124 |
Figures:
77
Global Aerostructures Market Insights
Aerostructures Market size was valued at USD 47.4 billion in 2019 and is poised to grow from USD 51.13 billion in 2023 to USD 101.01 billion by 2031, growing at a CAGR of 7.86% in the forecast period (2024-2031).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Nose
Fastest Growth
Nose
Growth Rate
7.86% CAGR
Global Aerostructures Market ($ Bn)
Country Share for North America Region (%)
Country Share for Europe Region (%)
Global Aerostructures Market By Component ($ Bn)
Global Aerostructures Market By Component (%)
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Global Aerostructures Market Segmental Analysis
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.
Global Aerostructures Market By Component, 2023 (%)
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Global Aerostructures Market Regional Insights
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.
Global Aerostructures Market By Region, 2024-2031
- Largest
- Fastest
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Global Aerostructures Market Dynamics
Aerostructures Market Driver
Increasing UAVS Demand and Increasing Composite Component Adoption to Drive Market Growth
- 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 tensions between neighbouring 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.
- Due to their features such as toughness, durability, and reliability, composite materials are now largely favoured for the manufacturing of aeroplane airframes. Glass-reinforced plastics (GRP) and fibre-reinforced plastics (FRP) are composites that are primarily utilised to make the aircraft's skin and exterior layers. Glass fibres are used to make GRP composite materials, which contain vinyl, epoxy, and polyester. Fibres and polymer resin are used in FRP. The fibre primarily offers strength to the material, and when combined with a polymer, it boosts the material's inter-laminar shear strength. FRP has high-strength fibres and a polymer matrix. The primary advantage of this material over metals is that it is lightweight. As a result, using composite materials for aeroplane structures reduces overall weight of an aircraft.
Aerostructures Market Restraint
Difficult to Recycle Composite Materials Limiting Market Growth
- The qualities of composite materials make them an excellent choice for the creation of aeroplane structures. However, one shortcoming of these materials is predicted to hamper market expansion.
- As composite material is typically used in conjunction with other materials such as foam cores, the recycling process is quite challenging. As a result, solid waste management challenges are expected to arise in the next few years.
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Global Aerostructures Market Competitive Landscape
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
- Airbus SE
- Boeing Company
- Spirit AeroSystems Holdings Inc.
- GKN Aerospace (a subsidiary of Melrose Industries plc)
- Safran SA
- Leonardo SpA
- Bombardier Inc.
- UTC Aerospace Systems (a subsidiary of Raytheon Technologies Corporation)
- Mitsubishi Heavy Industries Ltd.
- Kawasaki Heavy Industries Ltd.
- Triumph Group Inc.
- Collins Aerospace (a subsidiary of Raytheon Technologies Corporation)
- STELIA Aerospace (a subsidiary of Airbus SE)
- RUAG Aerostructures AG
- Daher
- FACC AG
- Sonaca Group
- Cyient Ltd.
- Aero Vodochody Aerospace a.s.
- Premium Aerotec GmbH (a subsidiary of Airbus SE)
Aerostructures Market Recent Developments
- In June 2022, Saab delivered the final of five T-7A Red Hawk aft fuselages to Boeing's manufacturing facility in St. Louis from its factory in Linköping, Sweden. Two test fuselages, one for static testing and the other for fatigue testing, were also provided by Saab as part of the programme in addition to the five Engineering and Manufacturing Development (EMD) aft fuselages.
- In January 2022, Kawasaki Heavy Industries, Ltd. announced its order for its latest-model helicopter, the H145//BK117 D-3, from Aero Asahi Corporation. This is the second D-3 to be ordered for broadcasting applications, and it is intended to be used by Tokyo Broadcasting System Television, Inc. (TBS) for news coverage and sports broadcasting.
- In January 2022, The Hungarian government commissioner office, responsible for defense development, and the Swedish Defence Material Administration have successfully completed negotiations for the MS20 block 2 capability upgrades to the Hungarian fleet of Gripen fighter aircraft. Saab will deliver the upgrade
Global Aerostructures Key Market Trends
- Use of lightweight materials: To lower the overall weight of aerostructure construction, prominent manufacturers often pick lightweight materials such as superalloys and composites. As the demand for composite materials in the aviation industry has skyrocketed, firms are turning to innovative technologies such as 3D printing and additive manufacturing to enhance production capacity.
- 3D Printing is becoming more popular in aircraft manufacturing : The use of 3D printing technology in manufacturing aids in the production of high-volume products in less time with increased quality and performance. Furthermore, adopting this technology considerably reduces the amount of material consumed while ensuring a restricted generation of waste, resulting in a cost-effective manufacturing process. As a result, the increasing adoption of 3D printing technology for manufacturing is likely to boost the growth of the aerostructures market.
Global Aerostructures Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 47.4 billion |
| Market size value in 2031 | USD 101.01 billion |
| Growth Rate | 7.86% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Aerostructures Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Aerostructures Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
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.
Analyst Support
Customization Options
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 Aerostructures Market Report Snapshots
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