Aerostructures Market Size - By Component(Wings, Nose, Fuselage, Nacelle & Pylon, Empennage), by Material(Alloys, Metal, Composite), by Platform(Fixed-wing Aircraft(Commercial Aircraft, Military Aircraft, Business Jets Aircraft, General Aviation Aircraft, UAV's), Rotary-wing Aircraft(Commercial & Civil & Helicopters, Military Helicopters, UAV's), by End-use(Aftermarket, OEM) & Region - Forecasts 2023 - 2033
- PUBLISHED ON
- 2024-01-01
- NO OF PAGES
- 235
- CATEGORY
- Aerospace & Defense
An aerostructure refers to all the major components constituting the airframe of an aircraft. It primarily comprises of the flight control surfaces, wings, fuselage, nacelle, nose, propulsion systems, and empennage, among others. These structures assist an airplane to withstand aerodynamic forces, while enhancing its overall function. In other words, Aerostructures help aircrafts to fly efficiently. They are used in all kinds of aircrafts including private, commercial, and military planes.
The most common materials used in the manufacturing of these components are steel, titanium, aluminum, and composite.
Global Aerostructures market- Overview
The global Aerostructures market size was $62767 Million in 2021, and is predicted to accumulate a valuation of $100647 million by 2030, recording a CAGR (Compound annual growth rate) of over 6.08% from 2022 to 2030.
Furthermore, rising disposable income of the masses is leading to a rapid surge in air travel rates across the globe. This is creating a lucrative opportunity for the market to prosper. Alongside, surge in domestic and international tourism along with the stringent government regulations pertaining to flight safety are positively swaying the market dynamics.
Also, technological innovations in the field, growing research & development investments in the aviation industry, and rising efforts of market players to develop advanced product ranges are adding traction to the industry expansion.
However, volatility in raw material prices is obstructing the remuneration scope of the worldwide Aerostructures industry.
Moreover, the onset of the COVID-19 had an adverse impact on the aviation industry. This was driven by the strict containment measures announced by various governments across the globe. Moreover, supply chain disruptions also resulted in the dearth of raw materials needed for the production of various Aerostructures. These factors in turn hindered the development of the overall marketplace.
Global Aerostructures market- Key Trends
Growing disposable income levels to augment the industry outlook:
With rapid economic developments across various nations, there has been a widespread increase in the per capita income level of the masses. A large number of people have started to opt for air travel as it offers a comfortable journey as compared to other modes of transportation. Moreover, people with high disposable income are also investing in tourism activities. These factors in turn are creating an upward trend for the market.
Rising demand for military aircrafts to aid market expansion:
There has been an accelerating demand for military aircrafts due to rising conflicts in various regions. The growing adoption of UAVs for the facilitation of various military missions owing to their high endurance, durability along with surveillance and reconnaissance capacities has contributed to the industry progression.
Global Aerostructures market Segmental Assessment:
By Component
- Wings
- Nose
- Fuselage
- Nacelle & Pylon
- Empennage
- Others
By Material
- Alloys
- Metal
- Composite
The composite segment is anticipated to capture a substantial revenue share over the forecast timeframe. This is credited to the high flexibility, durability, and strength offered by Aerostructures built using composite materials.
By Platform
- Fixed-wing Aircraft
- Commercial Aircraft
- Military Aircraft
- Business Jets Aircrafts
- General Aviation Aircraft
- UAV’s
- Rotary-wing aircraft
- Commercial & Civil & Helicopters
- Military Helicopters
- UAV’s
The fixed-wing aircraft segment is slated to grow significantly by 2030 attributable to the escalating demand for military aircrafts to mitigate border disputes across numerous countries.
By End Use
- Aftermarket
- OEM
The OEM segment is projected to showcase lucrative growth trends over the estimated timeline due to the increasing requirements for composite materials in order to enhance aircraft functions.
Global Aerostructures market- Geographical landscape
The major regions defining the geographical terrain of this business sphere are North America, Middle East & Africa, Europe, Latin America, and Asia Pacific. Among these, North America is presently leading the market in terms of revenue share ascribing to rapid technological advancements in the field, increasing disposable income levels, and the presence of prime market players.
Meanwhile, Asia Pacific is anticipated to showcase lucrative expansion trends over 2022-2030 owing to the surging defense budget and widespread economic developments in the region.
Global Aerostructures market- Competitive Intelligence
The prominent companies operating in the industry vertical are Spirit AeroSystems, Inc., Airbus, SAAB, Triump Group, Leonardo S.p.A., GKN Aerospace Services Limited, SAFRAN, Arconic, Elbit Systems Ltd., FACC AG, Kawasaki Heavy Industries Ltd., Collins Aerospace, Boeing, SONACA, ST Engineering, RUAG Group, Latecoere, IAI (Israel Aerospace Industries), The NORDAM Group LLC, Aernnova Aerospace S.A., Magellan Aerospace, Cyient, SABCA NV, and Others.
Notably, in June 2021, Magellan aerospace inked an agreement deal with Airbus to extend the contract to supply titanium and aluminum structural wing components. The components are expected to be supplied from Magellan’s manufacturing units located throughout India and Europe.
Report Scope
Global Aerostructures market- Historical Years- 2018-2021
Global Aerostructures market- Forecast Years- 2022-2030
Global Aerostructures market 2021- $62767 Million
Global Aerostructures projected market 2030- $100647 million
Global Aerostructures projected market CAGR- 6.08%
Key segments- Component, material, platform, and end use
Major regions and countries profiled-
North America (U.S. and Canada)
Asia Pacific (China, India, Australia, Japan, and South Korea)
Middle East & Africa (GCC, Egypt, and South Africa)
Europe (U.K., France, Italy, France, Russia, and Spain)
Latin America (Brazil and Mexico)
Major players profiled- Spirit AeroSystems, Inc., Airbus, SAAB, Triump Group, Leonardo S.p.A., GKN Aerospace Services Limited, SAFRAN, Arconic, Elbit Systems Ltd., FACC AG, Kawasaki Heavy Industries Ltd., Collins Aerospace, Boeing, SONACA, ST Engineering, RUAG Group, Latecoere, IAI (Israel Aerospace Industries), The NORDAM Group LLC, Aernnova Aerospace S.A., Magellan Aerospace, Cyient, SABCA NV, and Others
1.1. Objective of the Market Research Study
1.2. Aerostructures Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2018 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2030
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global Aerostructures Market Scope and Market Estimation
1.4.1. Global Aerostructures Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2018 to 2030)
1.4.2. Global Aerostructures Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2018 to 2030
1.5. Aerostructures Market Segmentation
1.5.1. Component of Global Aerostructures Market
1.5.2. Material of Global Aerostructures Market
1.5.3. Platform of Global Aerostructures Market
1.5.4. End-use of Global Aerostructures Market
1.5.5. Key Regions of Global Aerostructures Market
2. Global Aerostructures Market - Executive Summary
2.1. Global Aerostructures Market – Summary & Snapshot
2.2. Global Aerostructures Market, By Component (US$ Million)
2.3. Global Aerostructures Market, By Material (US$ Million)
2.4. Global Aerostructures Market, By Platform (US$ Million)
2.5. Global Aerostructures Market, By End-use (US$ Million)
2.6. Global Aerostructures Market, By Geography (US$ Million)
2.7. Global Aerostructures Market Outlook & Future Opportunities
3. Aerostructures Market Trends, Outlook, and Factors Analysis
3.1. Global Aerostructures Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Aerostructures Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Aerostructures Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Surging demand for UAVs is expected to bolster the market growth during the forecast period
3.2.1.2. Rising adoption of composite components is anticipated to trigger the market growth over the forecast period
3.2.2. Restraints
3.2.2.1. Problems associated with composite materials such as material recycling, is expected to hamper the market growth over the forecast period
3.2.3. Opportunities
3.2.3.1. Adoption of morphing technologies for wings creates lucrative opportunities for the growth of the market in the upcoming years
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Aerostructures Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Aerostructures Market
3.9.1. By Component
3.9.2. By Material
3.9.3. By Platform
3.9.4. By End-use
3.9.5. By Regions
4. Global Aerostructures Market: Estimates & Historic Trend Analysis (2018 to 2021)
4.1. Global Aerostructures Market, 2018 – 2021 (US$ Million)
4.2. Global Aerostructures Market, By Component, 2018 to 2021 (US$ Million)
4.3. Global Aerostructures Market, By Material, 2018 to 2021 (US$ Million)
4.4. Global Aerostructures Market, By Platform, 2018 to 2021 (US$ Million)
4.5. Global Aerostructures Market, By End-use, 2018 to 2021 (US$ Million)
4.6. Global Aerostructures Market, By Region, 2018 to 2021 (US$ Million)
5. Global Aerostructures Market Estimates & Forecast Trend Analysis, by Component
5.1. Global Aerostructures Market Share (%) Estimates and Forecasts, by Component, 2022 & 2031
5.2. Global Aerostructures Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2022 to 2030
5.2.1. Wings
5.2.2. Nose
5.2.3. Fuselage
5.2.4. Nacelle & Pylon
5.2.5. Empennage
5.2.6. Others
6. Global Aerostructures Market Estimates & Forecast Trend Analysis, by Material
6.1. Global Aerostructures Market Share (%) Estimates and Forecasts, by Material, 2022 & 2031
6.2. Global Aerostructures Market Revenue (US$ Million) Estimates and Forecasts, by Material, 2022 to 2030
6.2.1. Alloys
6.2.2. Metal
6.2.3. Composite
7. Global Aerostructures Market Estimates & Forecast Trend Analysis, by Platform
7.1. Global Aerostructures Market Share (%) Estimates and Forecasts, by Platform, 2022 & 2031
7.2. Global Aerostructures Market Revenue (US$ Million) Estimates and Forecasts, by Platform, 2022 to 2030
7.2.1. Fixed-wing Aircraft
7.2.1.1. Commercial Aircraft
7.2.1.2. Military Aircraft
7.2.1.3. Business Jets Aircraft
7.2.1.4. General Aviation Aircraft
7.2.1.5. UAV's
7.2.2. Rotary-wing Aircraft
7.2.2.1. Commercial & Civil & Helicopters
7.2.2.2. Military Helicopters
7.2.2.3. UAV's
8. Global Aerostructures Market Estimates & Forecast Trend Analysis, by End-use
8.1. Global Aerostructures Market Share (%) Estimates and Forecasts, by End-use, 2022 & 2031
8.2. Global Aerostructures Market Revenue (US$ Million) Estimates and Forecasts, by End-use, 2022 to 2030
8.2.1. Aftermarket
8.2.2. OEM
9. Global Aerostructures Market Analysis and Forecast, by Region
9.1. Global Aerostructures Market Share (%) Estimates and Forecasts, by Region, 2022 & 2031
9.2. Global Aerostructures Market Revenue (US$ Million) Estimates and Forecasts, by Region, 2022 to 2030
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Middle East and Africa
9.2.5. Latin America
10. North America Aerostructures Market: Estimates & Forecast Trend Analysis
10.1. North America Aerostructures Market Assessments & Key Findings
10.2. North America Aerostructures Market Share (%) Estimates and Forecasts, 2022 & 2031
10.3. North America Aerostructures Market Size Estimates and Forecast (US$ Million) (2022 to 2030)
10.3.1. By Component
10.3.2. By Material
10.3.3. By Platform
10.3.4. By End-use
10.3.5. By Major Country
10.3.5.1. The U.S.
10.3.5.2. Canada
11. Europe Aerostructures Market: Estimates & Forecast Trend Analysis
11.1. Europe Aerostructures Market Assessments & Key Findings
11.2. Europe Aerostructures Market Share (%) Estimates and Forecasts, 2022 & 2031
11.3. Europe Aerostructures Market Size Estimates and Forecast (US$ Million) (2022 to 2030)
11.3.1. By Component
11.3.2. By Material
11.3.3. By Platform
11.3.4. By End-use
11.3.5. By Major Country
11.3.5.1. Germany
11.3.5.2. The U.K.
11.3.5.3. France
11.3.5.4. Italy
11.3.5.5. Spain
11.3.5.6. Rest of Europe (includes all other European countries)
12. Asia Pacific Aerostructures Market: Estimates & Forecast Trend Analysis
12.1. Asia Pacific Aerostructures Market Assessments & Key Findings
12.2. Asia Pacific Aerostructures Market Share (%) Estimates and Forecasts, 2022 & 2031
12.3. Asia Pacific Aerostructures Market Size Estimates and Forecast (US$ Million) (2022 to 2030)
12.3.1. By Component
12.3.2. By Material
12.3.3. By Platform
12.3.4. By End-use
12.3.5. By Major Country
12.3.5.1. China
12.3.5.2. Japan
12.3.5.3. India
12.3.5.4. ASEAN
12.3.5.5. South Korea
12.3.5.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
13. Middle East & Africa Aerostructures Market: Estimates & Forecast Trend Analysis
13.1. Middle East & Africa Aerostructures Market Assessments & Key Findings
13.2. Middle East & Africa Aerostructures Market Share (%) Estimates and Forecasts, 2022 & 2031
13.3. Middle East & Africa Aerostructures Market Size Estimates and Forecast (US$ Million) (2022 to 2030)
13.3.1. By Component
13.3.2. By Material
13.3.3. By Platform
13.3.4. By End-use
13.3.5. By Major Country
13.3.5.1. GCC
13.3.5.2. South Africa
13.3.5.3. Egypt
13.3.5.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
14. Latin America Aerostructures Market: Estimates & Forecast Trend Analysis
14.1. Latin America Market Assessments & Key Findings
14.2. Latin America Aerostructures Market Share (%) Estimates and Forecasts, 2022 & 2031
14.3. Latin America Aerostructures Market Size Estimates and Forecast (US$ Million) (2022 to 2030)
14.3.1. By Component
14.3.2. By Material
14.3.3. By Platform
14.3.4. By End-use
14.3.5. By Major Country
14.3.5.1. Brazil
14.3.5.2. Mexico
14.3.5.3. Rest of Latin America (includes all other Latin America countries)
15. Competitive Landscape
15.1. Aerostructures Market Revenue Share Analysis (%), by Major Players (2021)
15.2. Aerostructures Market Competition Matrix, by Leading Players
15.3. Aerostructures List of Emerging, Prominent and Leading Players
15.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, etc.
16. Company Profiles
16.1. Spirit AeroSystems, Inc.
16.1.1. Company Overview & Insights
16.1.2. Financial Performance
16.1.3. Product / Service Portfolio
16.1.4. Geographical Footprint & Share
16.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
16.2. Airbus
16.3. SAAB
16.4. Triumph Group
16.5. Leonardo S.p.A.
16.6. GKN Aerospace Services Limited
16.7. SAFRAN
16.8. Arconic
16.9. Elbit Systems Ltd.
16.10. FACC AG
16.11. Kawasaki Heavy Industries, Ltd.
16.12. Collins Aerospace
16.13. Boeing
16.14. SONACA
16.15. ST Engineering
16.16. RUAG Group
16.17. Latécoère
16.18. IAI (ISRAEL AEROSPACE INDUSTRIES)
16.19. The NORDAM Group LLC
16.20. Aernnova Aerospace S.A.
16.21. Magellan Aerospace
16.22. Cyient
16.23. SABCA NV
16.24. Others
17. Assumptions and Research Methodology
17.1. Data Mining
17.2. Secondary Research
17.3. Primary Research
17.4. Subject Matter Expert Advice
17.5. Quality Check
17.6. Final Review
17.7. Data Triangulation
17.8. Bottom-Up Approach
17.9. Top Down Approach
17.10. Research Flow
17.11. Key Insights from Industry Experts
17.12. Data Sources
17.13. Assumptions
17.14. Limitations
18. Conclusions and Recommendations
18.1. Key Research Findings and Conclusion
18.2. Key Insights & Recommendations from Analysts
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