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
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
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
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Market Research Process
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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).
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.
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.
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.
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