Commercial Aircraft Aerostructures Market

Commercial Aircraft Aerostructures Market Trends and Forecast 2026:

Commercial Aircraft Aerostructures Market was worth US$ xx million in 2021, and it is estimated to reach a valuation of US$ xx million by the end of 2026, expanding at a compound growth rate above 5% during the forecast period 2022 - 2027.

The aerostructure is an essential part of commercial aircraft. Demand and the growth of the aircraft market depend primarily on the delivery of commercial aircraft aerostructures. Advances in design, materials, and processes have helped the industry grow faster by meeting the needs of the airlines. The structure of the aircraft represents more than 30% of the total production value of the plane, followed by aviation engines, avionics, systems and electronics, and interiors. The growing wealth of emerging economies that cause access to air traffic is an essential factor that leads to increased passenger traffic or travel per capita around the world. This creates demand for new aircraft, boosting the global commercial aircraft aerostructures market.

Recent Developments:

1. In June 2019, Virgin Atlantic announced that it has ordered up to 20 Airbus A330-900neos. The airline has firmly ordered 14 additional A330-900neos with six options. Airplane delivery is expected to begin in 2021.
2. June 2019 Qantas Airways Ltd. Qantas has converted 26 orders for A321neo aircraft to A321 XLR. Qantas has also expanded to order an additional 10 XLR A321 for $ 1.4 billion.
3. In September 2019, KLM Royal Dutch Airlines ordered $ 770 million for two B777-300ER aircraft.
4. The Korean KAL aerospace industry (KAI) is a major supplier of airbuses and manufactures aeronautical structures, including the A350 XWB fuselage, wings, cargo doors, and landing gear, and Sharklet wing tip devices for A320 aircraft and A330neo.

Commercial Aircraft Aerostructures Market Growth:

The main driver that influences the growth of the Commercial Aircraft Aerostructures Market is the increase in OEMs in the outsourcing of aviation structures manufacturing as primary and secondary suppliers.

Commercial Aircraft Aerostructures Market Drivers:

A trend that can affect the competitive dynamics of the market is expected to change in the manufacturing of the Commercial Aircraft Aerostructures of OEM level players. In 2018, we saw a series of high-value-added M&A activities in the industry. The global commercial aircraft aerostructures market is driven primarily by the growing supply of commercial aircraft worldwide. As passenger mobility has increased in recent years, the commercial aircraft aerostructures industry is experiencing significant growth in the speed of deployment of commercial aviation, which actively drives and supports the growth of the global Commercial Aircraft Aerostructures Market. 

In addition, it has been observed that the aircraft manufacturing industry is mainly adopting outsourcing methodologies for the manufacture of large-scale and high-speed aviation structures, thus accelerating the growth of the global Commercial Aircraft Aerostructures Market. In addition to these factors, the development and adoption of composite materials for aircraft manufacturing are accelerating the growth of the global Commercial Aircraft Aerostructures Market and are expected to lead the market during the forecast period.

Commercial Aircraft Aerostructures Restraints:

However, problems associated with compounds, such as recycling of materials, are expected to slow the growth of the Commercial Aircraft Aerostructures Market during the forecast period.

REPORT COVERAGE:

Commercial Aircraft Aerostructures Market Segmentation:

By type of aircraft, the global commercial aircraft aerostructure market is divided into narrow-body airplanes, wide-body airplanes, extra-large airplanes, regional airplanes, general aviation, helicopters, military airplanes, and unmanned aerial vehicles. The narrow-body segment is likely to be the leader of the market during the forecast period. Wide-body airplanes are expected to remain the second-largest segment during the forecast period and grow at an impressive rate.

By type of material, the global commercial aircraft aerostructures business is divided into metallic aerostructures and composite aerostructures. The metal structures of the aircraft are assumed to remain as larger segments, while composite aircraft structures are foreseen to show higher growth over the next five years. Passenger planes are actively seeking lightweight composite parts that can contribute to the goal of achieving more excellent fuel economy and reducing emissions.

By type of application, the global market is divided into fuselage, wings, containers, gondolas, and pylons. The fuselage is projected to remain the most extensive application in the commercial aircraft aerostructures market during the prediction period. The fuselage is the main component of the aircraft and covers the body part of the plane.

Regional Analysis:

Regionally, the Commercial Aircraft Aerostructures Market has been categorized in North America, Europe, Asia Pacific, and other regions (RoW). North America is expected to remain the largest market during the forecast period led by the United States. The country is the center of commercial aircraft aerostructures with multi-level players and aircraft OEMs. 

The Asia-Pacific region is likely to have the highest growth rate during the forecast period. The area will soon remain the most striking market in the future due to the upcoming commercial and regional aircraft, such as the C919 and MRJ, and the opening of assembly plants in China by Boeing and Airbus, and the larger size of the advertising fleet. Countries such as China, India and Japan are increasingly investing in the development of general aviation aircraft. 

Leading Company:

Developing lightweight structures, accelerating production rates, acquisitions, and working with OEMs for the joint development of aviation structures are some of the strategies that Spirit AeroSystems Inc has adopted to remain competitive in this industry.

Key Players:

Major Commercial Aircraft Aerostructures Market companies include GKN PLC, Spirit AeroSystems Inc., Korean Aerospace Industry, UTC Aerospace Systems, Triumph Group, Premium Aerotech GmbH, Mitsubishi Aircraft Corporation, Safran SA, STELIA Aerospace SAS, Leonardo SPA, FACC AG, Kawasaki Heavy Industries and Subaru Corporation.