Aerostructures are the structural components of an aircraft’s body frame or airframe. Aerostructures help an aircraft to withstand the aerodynamic forces during flight, and thus includes all the components that helps an aircraft to fly. The propulsion systems, wings, flight control surfaces, fuselages, and empennage are some of the aerostructures present on any aircraft body. The global aerostructure market is driven by the increased deliveries of new aircrafts along with demand for spare parts for old aircrafts.
Market Dynamics: Global Aerostructure Market
The aerostructure market is primarily driven by increased deliveries of commercial aircraft across the globe. With the increase in passenger mobility over the past few years, the commercial aviation industry is witnessing significant growth in the deployment rate of commercial aircrafts, which is strongly driving and supporting the growth of the global aerostructure market. Moreover, it is observed that, the aircraft manufacturing industry is predominantly adopting the outsourcing methodology for the manufacturing of aerostructures on a large scale and at a rapid rate, thereby fuelling the growth of the global aerostructure market. In addition to these factors, the development and adoption of composite materials for aircraft manufacturing is also fueling the growth of the global aerostructure market and is further anticipated to drive the market during the forecast period. However, problems associated with composite materials such are material recycling, is anticipated to restrain the growth of the aerostructure market during the forecast period.
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Market Segmentation: Global Aerostructure Market
The global aerostructure market has been segmented based on components, material, platform, end user, and region. Based on components, the market is further classified into empennage, nose, wings, fuselage, flight control surfaces, and pylon & nacelle. The material segment is further segmented into metals, alloys & super alloys, and composite materials. Based on platform, the market is divided into two sub segments on the basis of aircraft type namely: fixed wing aircraft and rotary wing aircraft. The fixed wing aircraft segment is further bifurcated into general, military & defense, commercial, and unmanned aerial vehicles (UAV). The rotary wing aircraft segment is further divided into commercial, military & defense, and unmanned aerial vehicle (UAV). The end user segment is classified as original equipment manufacturers (OEMs) and aftermarket. The global aerostructure market based on geography is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
North America is anticipated to contribute the largest market share toward the global aerostructure market due to presence of leading aerostructure manufacturers, for instance UTC Aerospace Systems and AAR Corp., in this region. Moreover, over the past few years, North America has witnessed increasing deliveries of aircraft in both commercial and defense applications, which is further expected to drive the aerostructure market in this region. Asia Pacific is anticipated to be the fastest growing market for aerostructure owing to growing demand for aircrafts in defense and general aviation applications due to the rapidly growing aerospace market in emerging economies such as India and China.
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Prominent Market Players
Key players in the global aerostructure market includes Aar Corp., UTC Aerospace Systems, Bombardier Inc., Cyient Ltd., Elbit Systems Ltd., GKN Aerospace, Leonardo S.P.A., Mahindra Aerostructures Pvt. Ltd., Raug Group, Saab AB, Spirit Aerosystems, Inc., Stelia Aerospace Group., Triumph Group, Inc., and Taneja Aerospace & Aviation Ltd. In order to gain a competitive advantage in the industry, these players are actively involved in organic and inorganic growth strategies. Collaborations, partnerships, agreements, and new product launches are some of the important strategies adopted by the leading players in the global market. The report provides an in-depth analysis about the strategic business activities along with the market dynamics shaping the global aerostructure market over the period of study.
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