AEROSTRUCTURES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
The aerostructures market has been witnessing significant growth in recent years driven by increasing demand for new aircraft from commercial and defense sectors. Aerostructures refer to structural components of an aircraft that provide the aircraft its strength and aerodynamic shape. This includes wings, fuselage, empennage, and nacelles among other parts. Advances in materials and manufacturing technologies have enabled development of lighter, stronger and more durable airframe structures offering greater fuel efficiency. Major aerostructure OEMs have been investing heavily in R&D to develop advanced composite and metallic materials fornext generation aircraft programs. Additionally, globalization of aircraft production with involvement of tier 1, 2 and 3 suppliers from across the world has created new opportunities for aerostructure manufacturers worldwide.
Market Dynamics:
Rising passenger and cargo traffic has driven increased demand for commercial aircraft which is a key growth driver for the aerostructures market. According to Airbus and Boeing, over 39,000 new passenger and freight aircraft will be needed over the next 20 years. Growth in air passenger traffic is expected to remain strong in Asia Pacific and Middle East regions specifically. On the other hand, military budget cuts in developed markets and delays in new aircraft programs pose challenges. However, opportunities lie in lightweight composite material adoption and expansion of tier 2 supplier base in emerging economies. OEMs are also exploring hybrid metal-composite designs and additive manufacturing to enable design complexities.
Key features of the study:
- This report provides in-depth analysis of the global aerostructures market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global aerostructures market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include (Spirit AeroSystems, Triumph Group, Safran SA, Collins Aerospace, GKN Aerospace, Leonardo S.p.A., Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Korea Aerospace Industries, Hanwha Aerospace)
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global aerostructures market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aerostructures market.
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Aerostructures Market' - Global forecast to 2031
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