Global Commercial Aircraft Aerostructures Growth Opportunities

Rising Demand for Aircraft Composite Parts Provides Linefit Opportunities to Aerostructures Suppliers

The global commercial aircraft aerostructures market study provides an 11-year forecast from 2022 to 2032. The total market was worth $45.40 billion in 2021, and considering the COVID-19 pandemic impact, Frost & Sullivan forecasts a compound annual growth rate (CAGR) of 8.4% until 2032.

The market has two segments: linefit and aftermarket. Driven by new aircraft deliveries, linefit accounted for a higher market share than aftermarket, the demand of which comes from aircraft fleets in service.

Spirit Aerosystems is the market leader, followed by Triumph Group, Airbus, Arconic, and Leonardo. The market share of these leading five companies is 69%. Besides aerostructures suppliers, leading aircraft OEMs such as Airbus and Boeing also have in-house capabilities to produce aerostructures. In addition, they work with other players by developing joint ventures. Demand for narrowbody is the highest.

Asia-Pacific-based airlines generate the highest demand for new aircraft, primarily due to the increased need for air travel in China and India. To cater to the rising demand for domestic air travel, both countries' airlines have ordered narrowbody aircraft, increasing linefit growth opportunities for nacelle suppliers.

Due to weak demand, Airbus made the final delivery of the A380 aircraft in 2021, and the last delivery of the 747 will occur in 2022. De Havilland Canada and Mitsubishi halted the production of Dash 8 and the SpaceJet program, respectively, which will reduce linefit growth opportunities.

The United States and Europe are restructuring their aircraft fleets by replacing older aircraft with more efficient ones. This will help airlines save on fuel and maintenance costs. But for aerostructures suppliers, it would mean fewer aftermarket opportunities. The Russo-Ukrainian War triggered stringent sanctions on Russia by the western world. This dampened the production capability of Russian aircraft platforms as Russian-built aircraft are highly dependent on western components suppliers.

Key Features:

• Size and state of the global commercial aircraft aerostructures market

• The COVID-19 pandemic's impact

• Drivers and restraints

• Notable vendors and their positioning in the competitive landscape

• Opportunities for commercial aircraft aerostructures suppliers