Aerostructures Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2023 - 2033
- PUBLISHED ON
- 2023-06-01
- NO OF PAGES
- 287
- CATEGORY
- Aerospace & Defense
Aerostructures Market size was valued at USD 60,800 million in 2022 and is projected to reach USD 85,829 million by 2033, growing at a CAGR of 6.7% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 60,800 million |
Market Forecast in 2033 | USD 85,829 million |
CAGR % 2023-2033 | 6.7% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Airbus; Boeing; Lockheed Martin; Bombardier Aerospace; Spirit AeroSystems; Safran; Leonardo S.p.A.; Northrop Grumman Corporation; Embraer; General Dynamics |
Aerostructures Market- Description
The global Aerostructures Market refers to the market for various structural components used in the aerospace industry. Aerostructures are the key structural elements of an aircraft, including wings, fuselage, empennage (tail assembly), and other structural components that provide strength, stability, and aerodynamic performance to the aircraft.
• Increased Aircraft Production
The Aerostructures market has been experiencing growth due to increased aircraft production worldwide. Growing air travel demand, emerging markets, and fleet expansion by airlines have driven the demand for new aircraft, subsequently boosting the demand for aerostructures.
• Lightweight and Fuel-Efficient Structures
There has been a strong emphasis on developing lightweight and fuel-efficient aircraft structures. Manufacturers are increasingly using advanced materials, such as carbon fiber composites and aluminum alloys, to reduce weight and improve fuel efficiency. These materials offer higher strength-to-weight ratios compared to traditional materials, enabling better performance and reduced fuel consumption.
Aerostructures Market- Geographical Analysis
North America is one of the leading regions in the global Aerostructures market. The presence of major aerospace manufacturers and suppliers, such as Boeing and Airbus, contributes to the growth of this market. The United States, in particular, is a significant player in the Aerostructures market, driven by its strong aerospace industry and defense sector.
Aerostructures Market- Impact of COVID-19
The pandemic disrupted global supply chains, leading to delays and shortages of components and materials required for aerostructures manufacturing. Lockdown measures, travel restrictions, and reduced production capacities affected the availability of raw materials and the ability to deliver finished products.
Aerostructures Market: Segmental Analysis
Material
• Composites
• Alloys & Superalloys
• Metals Dynamics
Aircraft Type
• Commercial Aviation
• Business & General Aviation
• Military Aviation
• UAVs
End-User
• OEM
• Aftermarket
Aerostructures Market: Key Companies
• Airbus
• Boeing
• Lockheed Martin
• Bombardier Aerospace
• Spirit AeroSystems
• Safran
• Leonardo S.p.A.
• Northrop Grumman Corporation
• Embraer
• General Dynamics
Aerostructures Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global Aerostructures market size was valued at USD 60,800 million in 2022 and is projected to reach USD 85,829 million by 2033, growing at a CAGR of 6.7% during the forecast period.
What are the drivers shaping various markets?
Lightweight and Fuel-Efficient Structures: - There has been a strong emphasis on developing lightweight and fuel-efficient aircraft structures. Manufacturers are increasingly using advanced materials, such as carbon fiber composites and aluminum alloys, to reduce weight and improve fuel efficiency. These materials offer higher strength-to-weight ratios compared to traditional materials, enabling better performance and reduced fuel consumption.
Who are the key competitors of market Players?
Some of the major players operating within the market are Airbus; Boeing; Lockheed Martin; Bombardier Aerospace; Spirit AeroSystems; Safran; Leonardo S.p.A.; Northrop Grumman Corporation; Embraer; General Dynamics
What are the top performing segments, and countries / regions of each of the markets?
North America is one of the leading regions in the global Aerostructures market. The presence of major aerospace manufacturers and suppliers, such as Boeing and Airbus, contributes to the growth of this market. The United States, in particular, is a significant player in the Aerostructures market, driven by its strong aerospace industry and defense sector.
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