Aerostructures Market Size, Share & Growth | Forecast [2031]
Aerostructures Market Size, Share & Growth | Forecast [2031]
Segments - Global Aerostructures Market by Platforms (Rotary-wing Aircraft [Military Helicopters, Commercial & Civil Helicopters, and UAVs] and Fixed-wing Aircraft [Business Jets Aircraft, General Aviation Aircraft, UAVs, Commercial Aircraft, and Military Aircraft]), Materials (Composite, Metal, and Alloys), Components (Nacelle & Pylon, Empennage, Fuselage, Nose, Wings, and Others), End-users (OEM and Aftermarket), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :AD-4292
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| 70 Reviews
| 210 Pages
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Report Description
The global aerostructures market size was valued at USD 52.32 billion in 2022 and is projected to reach USD 103.63 billion by 2031, expanding at a CAGR of 7.89% during the forecast period, 2023–2031. The growth of the market is attributed to rising implementation of 3D printing in manufacturing aircraft.
Aerostructures include flight control surfaces, wings, nacelle and arch, fuselage, nose, empennage, and other components required to construct an airplane. Aerostructures are components that enable an airplane to operate and endure aerodynamic forces. It contains all components that enable an aircraft to fly. Building, testing, and maintenance of airplanes and space vehicles is referred to as aerospace technology.
Technicians work on systems linked with reliable and reusable space launch vehicles and related ground support equipment, including assembly, servicing, testing, operation, and repair. Raytheon Technologies granted CPI Aerostructure a contract to produce structural assemblies on an unnamed platform in January 2021.
The COVID-19 pandemic has an astounding and unprecedented global impact, with aviation components experiencing a negative demand shock across all areas. According to a survey provided by the International Air Transport Association (IATA), commercial aircraft deliveries in 2020 are expected to total 800, which is half of the amount projected at the start of the year. The market has been affected by a drop in aircraft deliveries and new orders, due to the coronavirus outbreak.
Aerostructures Market Trends, Drivers, Restraints, and Opportunities
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Increasing aircraft deliveries by major aircraft manufacturers is anticipated to drive the market during the forecast period.
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Rising demand for air travel around the globe is boosting the market.
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Increasing demand for UAVs in military and commercial applications is expected to propel the market.
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Rising concerns about the disposal of composite materials used in manufacturing aircraft hinders the growth of the market.
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Employment of morphing technology for wings is expected to create lucrative opportunities for market players during the forecast period.
Scope of Aerostructures Market Report
The report on the global aerostructures market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Aerostructures Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Platforms (Rotary-wing Aircraft [Military Helicopters, Commercial & Civil Helicopters, and UAVs] and Fixed-wing Aircraft [Business Jets Aircraft, General Aviation Aircraft, UAVs, Commercial Aircraft, and Military Aircraft]), Materials (Composite, Metal, and Alloys), Components (Nacelle & Pylon, Empennage, Fuselage, Nose, Wings, and Others), and End-users (OEM and Aftermarket) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
SAAB AB; Leonardo S.P.A.; GKN Aerospace AAR Group; and Stelia Aerospace Group |
Aerostructures Market Segment Insights
Fixed-Wing Aircraft segment to expand at a considerable CAGR
On the basis of platforms, the aerostructures market is divided into rotary-wing aircraft and fixed-wing aircraft. The rotary-wing aircraft segment further categorized as military helicopters, commercial & civil helicopters, and UAVs.
The fixed-wing aircraft segment is further classified as business jets aircraft, general aviation aircraft, UAVs, commercial aircraft, and military aircraft. The fixed-wing aircraft segment is projected to expand at a considerable CAGR during the forecast period, due to rising procurement of military UAVs, including HAL for ISR applications.
Metal segment to hold a significant share of the market
In terms of materials, the market is divided into composite, metal, and alloys. The metal segment is expected to hold a significant share of the market in the coming years, due to wide usage of metal in the airframe of an airplane.
The composite segment accounts for a significant market share, as composite materials provide high design freedom, strength, durability, and low weight in aviation components.
Fuselage segment to expand at a high rate during the forecast period
Based on components, the aerostructures market is segregated into nacelle & pylon, empennage, fuselage, nose, wings, and others. The fuselage segment is expected to expand at a high rate during the forecast period. Fuselage is a critical component of an airplane that covers the whole plane.
The wings segment is expected to be a rapidly-growing segment during the forecast period, due to increasing demand for composite aircraft wings to exchange conventional metal wings. Metal is used to make traditional airplane wings; however, composite materials are currently used in the manufacture of airplane wings.
OEM segment to dominate the market
On the basis of end-users, the market is bifurcated into OEM and aftermarket. The OEM segment is expected to dominate the market in the forecast period, due to growing demand for Unmanned Aerial Vehicles (UAVs) in a variety of applications, including border surveillance, parcel delivery, city area monitoring, medication delivery, and others. The aftermarket segment is expected to grow rapidly, owing to increasing number of local service providers in high-growth regions.
North America is anticipated to constitute a key market share
In terms of regions, the global aerostructures market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is expected to constitute a key share of the market during the forecast period, owing to rising business and commercial aviation industry in the region. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to high development of aircraft manufacturing facilities in the region.
Segments
The global aerostructures market has been segmented on the basis of
Platforms
- Rotary-wing Aircraft
- Military Helicopters
- Commercial & Civil Helicopters
- UAVs
- Fixed-wing Aircraft
- Business Jets Aircraft
- General Aviation Aircraft
- UAVs
- Commercial Aircraft
- Military Aircraft
Materials
- Composite
- Metal
- Alloys
Components
- Nacelle & Pylon
- Empennage
- Fuselage
- Nose
- Wings
- Others
End-users
- OEM
- Aftermarket
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- SAAB AB
- Leonardo S.P.A.
- GKN Aerospace AAR Group
- Stelia Aerospace Group
Competitive Landscape
Key players competing in the global aerostructures market are SAAB AB; Leonardo S.P.A.; GKN Aerospace AAR Group; and Stelia Aerospace Group.
These companies implemented robotics technologies and industry automation in order to boost production capacities and strengthen their brand portfolio by providing a high-quality product to end-users. In August 2021, Boeing granted Mahindra Aerostructure a contract to produce B737 intake outer barrel components and sub-assemblies.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Aerostructures Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Aerostructures Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Aerostructures Market - Supply Chain
4.5. Global Aerostructures Market Forecast
4.5.1. Aerostructures Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Aerostructures Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Aerostructures Market Absolute $ Opportunity
5. Global Aerostructures Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Aerostructures Market Size and Volume Forecast by End Users
5.3.1. OEM
5.3.2. Aftermarket
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Aerostructures Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Aerostructures Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Aerostructures Demand Share Forecast, 2019-2026
7. North America Aerostructures Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Aerostructures Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Aerostructures Market Size and Volume Forecast by End Users
7.4.1. OEM
7.4.2. Aftermarket
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Aerostructures Demand Share Forecast, 2019-2026
8. Latin America Aerostructures Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Aerostructures Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Aerostructures Market Size and Volume Forecast by End Users
8.4.1. OEM
8.4.2. Aftermarket
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Aerostructures Demand Share Forecast, 2019-2026
9. Europe Aerostructures Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Aerostructures Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Aerostructures Market Size and Volume Forecast by End Users
9.4.1. OEM
9.4.2. Aftermarket
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Aerostructures Demand Share Forecast, 2019-2026
10. Asia Pacific Aerostructures Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Aerostructures Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Aerostructures Market Size and Volume Forecast by End Users
10.4.1. OEM
10.4.2. Aftermarket
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Aerostructures Demand Share Forecast, 2019-2026
11. Middle East & Africa Aerostructures Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Aerostructures Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Aerostructures Market Size and Volume Forecast by End Users
11.4.1. OEM
11.4.2. Aftermarket
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Aerostructures Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Aerostructures Market: Market Share Analysis
12.2. Aerostructures Distributors and Customers
12.3. Aerostructures Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. SAAB AB
12.4.2. Leonardo S.P.A.
12.4.3. GKN Aerospace AAR Group
12.4.4. Stelia Aerospace Group
Methodology
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