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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 Magellans 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