Aerostructures Global Market Report 2024

“Aerostructures Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on aerostructures market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for aerostructures? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aerostructures market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Component: Fuselage; Empennage; Flight control surfaces; Wings; Nose; Nacelle and pylon; Doors and skid
• 2) By Material: Composites; Alloys and super alloys; Metals
• 3) By Platform: Fixed Wing; Rotary Wing; Unmanned Aerial Vehicles (UAVs); Advanced Air Mobility
• 4) By End Use: OEM; Aftermarket
• Companies Mentioned: Spirit AeroSystems; Saab AB; Triumph Group Inc.; Leonardo SpA; Elbit Systems Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Aerostructures encompass subsystems or components integral to an aircraft's airframe, comprising the entire fuselage, wings, and flight control surfaces. These components play a pivotal role in the design, development, and assembly of an airplane.

The main types of components within aerostructures include the fuselage, empennage, flight control surfaces, wings, nose, nacelle and pylon, doors, and skid. The fuselage, a long hollow tube, serves as the structural backbone holding all the elements of an airplane together. Materials employed in aerostructures include composites, alloys and superalloys, as well as various metals. These aerostructures find applications across different platforms, including fixed-wing aircraft, rotary-wing aircraft, unmanned aerial vehicles (UAVs), and advanced air mobility solutions. End-users encompass original equipment manufacturers (OEMs) and aftermarket services.

The aerostructures market research report is one of a series of new reports from The Business Research Company that provides aerostructures market statistics, including aerostructures industry global market size, regional shares, competitors with an aerostructures market share, detailed aerostructures market segments, market trends and opportunities, and any further data you may need to thrive in the aerostructures industry. This aerostructures market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The aerostructures market size has grown strongly in recent years. It will grow from $56.46 billion in 2023 to $61.31 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed in the historic period can be attributed to various factors, including an increased demand for commercial aircraft, growth in the defense sector, an aging aircraft fleet, a rise in space exploration activities, and increased demand for air cargo transport. These combined influences have played a significant role in shaping the positive trajectory witnessed during that time.

The aerostructures market size is expected to see strong growth in the next few years. It will grow to $83.95 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be attributed to various factors, including the emergence of new markets, ongoing airline fleet modernization efforts, adherence to regulatory standards, the globalization of markets, and an overall increase in air traffic and passengers. Key trends expected during this period encompass the implementation of digital twins and smart manufacturing, the integration of sensors and connectivity for enhanced functionality, the adoption of modular and scalable design approaches, a focus on sustainability and the use of eco-friendly materials, and advancements in 3D printing and additive manufacturing technologies. These trends reflect the dynamic landscape of the aerostructures industry and the ongoing efforts to leverage technological innovations for improved efficiency and sustainability.

The expansion in commercial aircraft production is set to drive the growth of the aerostructures market in the upcoming period. Commercial aircraft, typically used for transporting passengers and cargo between chosen airports, have seen a rapid rise in production. This acceleration is expected to amplify the utilization of aerostructures, which play a fundamental role in the assembly and production of aircraft. In 2021, Airbus SE, a Dutch-based manufacturer, delivered 611 commercial aircraft to 88 customers, marking a doubling of its gross order intake in comparison to the prior year with 771 new sales. Hence, the surge in commercial aircraft production is anticipated to increase the demand for the aerostructures market in the forecast period.

The surge in aircraft modernization programs is projected to steer the aerostructures market. Aircraft modernization involves upgrading and updating aircraft components, systems, and technology to boost overall performance, safety, efficiency, and capabilities. Aerostructures used in these programs are crucial to meet the program's objectives, whether it involves enhancing the aircraft's lifespan, boosting its performance, or improving its environmental impact. In June 2021, the US Air Force's B-52 Radar Modernization Program (RMP) supported both nuclear and conventional missions by updating or replacing APQ-166 radar Line Replaceable Units (LRU) aboard B-52H aircraft, completely or partially. Introducing modern technology aimed to improve the radar system's reliability and capabilities for new missions, resulting in a more effective and efficient radar system. Thus, the increasing aircraft modernization programs are steering the aerostructures market.

The growing adoption of 3D printing technology is a prominent trend shaping the aerostructures market. 3D printing, also known as additive manufacturing, significantly reduces production time, enhances product quality, and improves performance. This technology involves creating a three-dimensional object using computer-generated designs. The application of 3D printing in manufacturing aerostructures is expected to reduce material usage and waste generation, resulting in a more cost-effective manufacturing process. For example, Airbus SE, a French-based aerospace corporation operating in the aerostructures market, launched two Eurostar Neo spacecraft in February 2021. These spacecraft involved a total of 500 3D-manufactured radio frequency (RF) components, comprising multi-waveguide blocks and switch assembly networks.

Major companies in the aerostructures industry are embracing a strategic partnership approach to offer critical aerostructures services that aim to lower costs, foster innovation, and cater to the changing needs of the aviation market. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. For example, in January 2023, General Atomics Aeronautical Systems, Inc., a US-based provider of cutting-edge technology solutions, collaborated with Bharat Forge Limited, an India-based supplier of safety and critical components, to produce main landing gear components, subassemblies, and assemblies for remotely piloted aircraft.

In February 2022, Daher, a French company operating across aerospace, nuclear, defense, and automotive sectors, has entered an agreement to acquire Triumph Group, Inc.'s metallic aerostructures production and assembly business in the USA. This acquisition was made to reinforce its presence and enhance production capabilities in the North American region. The metallic aerostructures unit, Stuart, specializes in manufacturing intricate and sizeable metallic structures, including wing and fuselage assemblies.

Major companies operating in the aerostructures market include Spirit AeroSystems, Saab AB, Triumph Group Inc., Leonardo SpA, Elbit Systems Ltd., Airbus S.A.S., The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems PLC, Raytheon Technologies Corporation, Safran S.A., Bombardier Inc., Embraer S.A., General Dynamics Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., GKN Aerospace Ltd., FACC AG, RUAG Group, Collins Aerospace Ltd., Dassault Aviation S.A., Meggitt PLC, RUAG International, RUAG Space, Premium AEROTEC GmbH, Belge de Constructions Aeronautiques SA, Aero Vodochody AEROSPACE a.s., Singapore Technologies Engineering Ltd., Aviation Industry Corporation of China

North America was the largest region in the aerostructures market in 2023, and it is also expected to be the fastest-growing region in the aerostructures market share during the forecast period. The regions covered in the aerostructures market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the aerostructures market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The aerostructures market consists of sales of aerostructures' products such as titanium alloys, aluminum alloys and high-strength steels. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.