The aerostructures global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Aerostructures Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to increased demand for commercial aircraft, growth in the defense sector, aging aircraft fleet, rise in space exploration, increased air cargo demand.
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 growth in the forecast period can be attributed to emerging markets, airline fleet modernization, regulatory standards, market globalization, increasing air traffic and passenger. Major trends in the forecast period include digital twins and smart manufacturing, integration of sensors and connectivity, modular and scalable design, sustainability and eco-friendly materials, 3d printing and additive manufacturing.
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Scope Of Aerostructures Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Aerostructures Market Overview
Market Drivers –
The increase in commercial aircraft production will propel the growth of the aerostructures market during the forecast period. Commercial aircraft are used to haul passengers and freight on a scheduled basis between selected airports. The rapid growth in commercial aircraft production is expected to boost the utilization of aerostructures, as they are a vital component in aircraft production and assembly. For instance, in 2021, Airbus SE, a Netherlands-based commercial aircraft manufacturer, delivered 611 commercial aircraft to 88 customers. Airbus doubled its gross order intake in 2021 compared to 2020 with 771 new sales. Therefore, the increasing commercial aircraft production is expected to boost demand for the aerostructures market during the forecast period.
Market Trends –
The increasing adoption of 3D printing technology is a key trend gaining popularity in the aerostructures market. The use of 3D printing technology in manufacturing lowers the production time and improves product quality and performance. 3D printing technology which is also known as additive manufacturing is the process of creating a three-dimensional object using computer-created design. Hence, manufacturing aerostructures using 3D printed technology will significantly reduce the amount of material consumed while ensuring a limited generation of waste, resulting in a cost-effective manufacturing process. For instance, in February 2021, Airbus SE, a France-based aerospace corporation operating in aerostructures market launched two Eurostar Neo spacecrafts, in which a total of 500 radio frequency (RF) components, composed of multi-waveguide blocks and switch assembly networks, have been 3D manufactured.
The aerostructures market covered in this report is segmented –
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
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Regional Insights –
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 report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
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 Aéronautiques SA, Aero Vodochody AEROSPACE a.s., Singapore Technologies Engineering Ltd., Aviation Industry Corporation of China
Table of Contents
1. Executive Summary
2. Aerostructures Market Report Structure
3. Aerostructures Market Trends And Strategies
4. Aerostructures Market – Macro Economic Scenario
5. Aerostructures Market Size And Growth
…..
27. Aerostructures Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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