Aerostructures Market Set to Soar Past USD 101.01 Billion by 2030
The global Aerostructures market size is expected to reach USD 101.01 billion by 2030 and exhibit a CAGR of 7.86% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for lightweight and fuel-efficient aircraft, growing air passenger traffic, rising defense budgets, advancements in composite materials and manufacturing techniques, expanding commercial aviation sector, adoption of additive manufacturing in aerostructures production, increasing focus on reducing aircraft emissions, modernization and retrofitting of existing aircraft, expanding aerospace and defense industry in emerging economies, are fueling the market’s growth.
Westford USA, Oct. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Aerostructures market, increased adoption of 3D printing and additive manufacturing in aerostructures production, growing use of advanced composite materials in aircraft structures, rising demand for electric and hybrid-electric aircraft, integration of Internet of Things (IoT) and sensor technologies in aerostructures, development of lightweight and high-strength materials for improved aircraft performance, emphasis on sustainable and environmentally friendly aerostructures, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Aerostructures Market”
- Pages – 157
- Tables – 124
- Figures – 74
Aerostructure is the term used to describe the structural components of an aircraft. It includes the fuselage, wings, tail, and landing gear. The aero structure must be strong enough to support the aircraft’s weight and withstand the forces of flight. It must also be lightweight to minimize drag and fuel consumption.
Prominent Players in Aerostructures Market
- Spirit AeroSystems
- Boeing
- Airbus
- Safran
- Collins Aerospace
- Leonardo
- Triumph Group
- GKN Aerospace
- Magellan Aerospace
- Kawasaki Heavy Industries
- FACC AG
- Korean Air Aerospace Industries
- ShinMaywa Industries
- Hindustan Aeronautics Limited
- Irkut Corporation
- Shenyang Aircraft Corporation
- Comac
- Embraer
- Textron Aviation
- Bombardier
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Fuselage Demand to Grow Substantially in the Forecast Period
Fuselage dominated the global market as it is the main structure of an aircraft, housing the cockpit, passenger cabin, cargo holds, and various systems and components. It plays a crucial role in providing structural integrity, aerodynamic stability, and protection for occupants and cargo. It serves as the primary load-bearing structure of the aircraft, providing the framework for attaching other components such as wings, empennage, and landing gear. Its design and construction require extensive engineering and manufacturing expertise.
Original Equipment Manufacturer is the Leading Application Segment
In terms of application, the original equipment manufacturer is the leading segment due to the growing demand for civil aviation. In addition, OEMs are responsible for the production and assembly of new aircraft. They are the primary customers for aerostructure manufacturers, as they require aerostructures to build complete aircraft. The demand for new aircraft, driven by factors such as fleet expansion, aircraft replacement, and emerging market demands, directly influences the sales of aerostructures.
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North America is the leading Market Established Aerospace Industry
Region-wise, North America is one of the largest growing markets due to the established aerospace industry. The region has been at the forefront of technological advancements in the aerospace industry. The region is known for its innovation, research and development capabilities, and the adoption of advanced manufacturing techniques. These advancements contribute to the development of cutting-edge aerostructures, giving North American manufacturers a competitive edge.
A recent report thoroughly analyzes the major players operating within the Aerostructures market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Aerostructures.
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Key Developments in Aerostructures Market
- 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.
Key Questions Answered in Aerostructures Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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