The new report by EMR titled, ‘Global Aerostructures Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global aerostructures market, assessing the market based on its segments like components, materials, platforms, aircraft, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 3%
Increased aircraft production across the globe is expected to drive the aerostructures market, with key drivers including increased flight volume, rising global population and demand for passenger and cargo air services, industrial expansion, technological advancements, increasing personal income, and modernisation of older aircraft. Due to the growing wealth and population, developing economies would be a key factor driving the demand for aircraft. Significant innovations, such as autonomous devices, artificial intelligence (AI), the internet of things (IoT), ultralight materials, unmanned aircraft innovations, biometrics, robotics, blockchain, alternative fuels, and electric aircraft will further drive the market growth of aerostructures. Fulfilling cost targets and quality standards would warrant better technologies; hence, it is expected that novel technologies and innovations would emerge, which would lead to robust demand for advanced solutions. Such solutions (including fully automated solutions) would, in turn, help boost the aerostructures market.
Industry Definition and Major Segments
Aerostructures are the parts of an aircraft’s airframe that help it fly. The aerostructure consists of nacelles and pylons, doors, fuselage, empennage, and wings, among other things. Aluminum, steel, titanium, and composite materials are used to make the components.
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By component, the market is segmented into:
- Wings
- Nose
- Fuselage
- Nacelle and Pylon
- Empennage
- Others
By material, the market is divided into:
- Alloys
- Metal
- Composite
By platform, the market is classified into:
- Fixed-Wing Aircraft
- Commercial Aircraft
- Military Aircraft
- Business Jets
- General Aviation Aircraft
- UAVs
- Rotary-Wing Aircraft
- Commercial and Civil Helicopters
- Military Helicopters
- UAVs
By aircraft, the market is segmented into:
- Commercial
- Narrow Body
- Wide Body
- Regional
- Business
- Military
- Helicopter
By end-use, the market is classified into:
- OEM
- Aftermarket
On the basis of region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Indian airlines are increasingly in demand for large planes. With India’s expanding defence capital expenditure, the defence aerospace sector has a lot of potentials, with both new start-ups and established businesses looking to expand. The market is projected to benefit from these aspects. Passengers prefer air travel to other means of transportation because of the enhanced comfort and ability to travel long distances in a short amount of time, driving up demand for commercial aircraft. The market growth is predicted to be aided by a growing middle-class population, rising disposable income, and more domestic and international tourism. To have a competitive edge in the market, several industry participants are strengthening their production skills which will boost the market growth.
Key Market Players
The major players in the market are Spirit AeroSystems, Inc., GKN plc, RUAG International Holding AG, Saab AB, Airbus S.A.S., Triumph Group, Inc., Collins Aerospace, and Elbit Systems Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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