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Aerostructures Market Size, Share & COVID-19 Impact Industry Analysis, By Components (Wings, Nose, Fuselage, Nacelle & Pylon, Empennage, and Others), By Material (Alloys, Composite, and Metals), By Platform (Fixed-Wing Aircraft (Commercial, Military, Business Jet, and General Aviation Aircraft) and Rotary-Wing Aircraft (Commercial Helicopters, Military Helicopters, and UAVs), and Regional Forecast, 2023-2030

Region : Global | Format: PDF | Report ID: FBI101663

 

KEY MARKET INSIGHTS

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The global aerostructures market size was valued at USD 107.07 billion in 2022 and is projected to grow from USD 115.26 billion in 2023 to USD 183.24 billion by 2030, exhibiting a CAGR of 6.85% during the forecast period.

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Aerostructures refer to aircraft airframe components that constitute the overall aircraft frame or body. The airframe includes single parts of an airplane capable of flight, such as the fuselage, nacelle, and nose. Rapid growth and expansion of key market players and increased air travel post-pandemic are expected to boost the global aerostructures market growth in the forecast period.


The airframe consists of components such as the nose, wings, nacelle & pylon, fuselage, and landing gear and doors. All these components join together to make a basic framework of an Aircraft. Different aircraft consist of various airframes, structures, and components. Increasing demand and adoption for chevron nozzle exhaust, a part of the nacelle, is expected to boost the market growth during the forecast period.




COVID-19 IMPACT


COVID-19 Pandemic Led to a Drastic Decline in Aircraft Deliveries Due to Disrupted Supply Chain and Operations Halt


The COVID-19 pandemic has led to a dramatic decrease in aircraft aerostructure demand due to a disrupted supply chain, making it all the more difficult to get raw materials and composites to furnish aerostructure components. Additionally, a halt in aviation operations due to the lockdown has led to a decrease in aircraft deliveries, subsequently leading to a decline in the production of aerostructure components. In 2020, the commercial aviation industry witnessed a sharp decline in aircraft deliveries. The COVID-19 pandemic dramatically impacted the annual orders and deliveries of the world's two leading commercial aircraft manufacturers. For instance, global deliveries in 2020 totaled 723 aircraft, 42% behind 2019 and 55.3% behind 2018, and marked the second consecutive year that deliveries declined. However, over a couple of years, the market has overgrown the decline and, due to increased passenger traffic, will be able to retreat to pre-pandemic demands.


LATEST TRENDS


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Integration of 3D Printing to Act as a booster for the Market Growth


Original equipment manufacturers (OEMs) of aerostructure components have initiated the integration of emerging technologies for the efficient production of components, such as 3D printing. Other technologies such as machine learning used in the production and integration of 3D printing help in the production, design, and manufacturing process of aerostructure and makes a whole component using a 3D model. For instance,



  • In September 2022, GKN Aerospace, a global aerospace component manufacturer, unveiled the completion of its largest titanium structural aerostructure. The aerostructure manufacturing was aided with 3D printing and analytics to support effective and efficient utilization.




DRIVING FACTORS


Growing Demand for Chevron Nozzle Supports Market Growth


There is a surge in demand for a chevron nozzle, a triangular pattern exhaust nozzle extension that helps reduce noise and is equipped on modern jets. Chevron is used to reduce the levels of acoustics in the exhaust. This technology is adopted by the modern generation Boeing 747 & 787 and is found to reduce about 15 decibels of fan tones. The muzzle with a teeth-like structure reduces pressure variation, ultimately reducing jet noises.  


Increasing Use of Composite Material to Drive Market Growth


Composite materials are the first preference by OEMs to manufacture the airframe of airplanes owing to their relative properties such as durability, reliability, and toughness. Glass-reinforced plastics (GRP) and fiber-reinforced plastics (FRP) are composites mainly used to fabricate the skin and outer layers of the aircraft. GRP composite materials are produced using glass fibers and contain vinyl, epoxy, and polyester composites. FRP includes fibers and polymer resin. The fiber mainly provides strength to the material, and if related to polymer, it increases its inter-laminar shear strength. Thus, using composite material for aircraft structures reduces the overall weight of an aircraft.



  • In February 2023, GKN Fokker, a Mexico-based manufacturer, delivered a thermoplastic composite aerostructure of 8m x 4m size. The aerostructure was made as a part of the multi-functional fuselage demonstrator (MFFD) project led by Airbus.




RESTRAINING FACTORS


High Cost of Maintenance and Repair to Limit Market Growth


Despite a rise in the demand for components, the high cost associated with procuring the components is predicted to restrain the market growth. The high cost associated with the maintenance and repair limits the market growth since aerostructure components aren’t refurbished after wear and tear. Therefore, any damage to the aerostructure directly leads to a complete change in the component and hence is cost taking.


For instance, in December 2022, the International Air Transport Association (IATA) unveiled the annual cost of ground damage to aircraft would reach about USD 10 billion. Additionally, it is costly to acquire new components due to the complexity of the design and development and design. The integration and development of components across the aircraft and the maintenance of these components are expensive. Hence, these factors are anticipated to affect market growth negatively.


SEGMENTATION


By Component Analysis


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High Cost of Fuselage Led to the Dominance of Segment in this Market


Based on components, the market is categorized into wings, nose, fuselage, nacelle and Pylon, empennage, and others.


 The Fuselage segment accounted for the largest market share in 2022. The fuselage refers to the aircraft’s main body section that holds the cabin and cargo. The high cost associated with the aircraft’s body structure is a significant reason for the dominance of fuselage components in the market.


The wings segment is predicted to grow fastest during 2023-2030. The growth is due to rising demand for replacing conventional metal wings with composite aircraft wings. New-generation aircraft are lighter and demand lighter composite materials for their wings, too therefore, the segment is expected to experience the highest growth. 


By Material Analysis


High Adoption Rate and Demand for Alloys Segment Dominates the Market


By material, the market is classified into alloys, composite, and metals. The alloys segment accounted for the largest market share in 2022, owing to the high demand for alloy material used in major aircraft components. There are several aerospace alloys, including Al and Mg, Ni, Co, and Ti based alloys. Al is the predominant metal in the system in aluminum-based alloys and alloying elements such as copper, zinc, manganese, silicon, and magnesium.


However, the composite material segment is expected to grow at the highest compound annual growth rate in the forecast period. The rapid growth in the segment is due to budding adoption for the development of the aircraft component. Composite materials built components offer high design strength, durability, flexibility, and low weight. These properties enable improved aircraft performance and reduce the overall weight. For example, for A350, 53% is composite content. For B787, 50% has composites content, and the Bombardier C-Series has 40% composites content.


By Platform Analysis


Owing to Broader Applications and Rising Fleet, Fixed Wing Segment Dominated the Market


Based on the platform, the market is divided into fixed-wing and rotary-wing aircraft. The fixed-wing aircraft is further divided into commercial, military, business jet, and general aviation aircraft. The rotary wing aircraft comprises commercial helicopters, military helicopters, and Unmanned Aerial Vehicles (UAVs).   


The fixed-wing segment dominated the market share in 2022, owing to wide availability and production prioritization to fixed-wing due to pertaining market demand.


The rotary-wing segment is predicted to grow at the highest CAGR from 2023 to 2030. The rising procurement of military UAVs such as MALE and HALE for ISR applications supports the market expansion during the forecast period.




REGIONAL ANALYSIS


North America Aerostructures Market Size, 2022 (USD Billion)

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The global market regions are segmented as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.


North America was valued at USD 40.34 billion in 2022 and is expected to dominate the market due to the presence of top OEMs and a growing market. For instance, in June 2023, U.S. government approved sale of 16 surveillance aircraft to Canada at cost of USD 6 billion. Similarly, rising demand across commercial airline also catalyze the market across North America. For instance, since January 2022, Air Canada has received more than 15 new aircrafts owing to expansion of their business activities.


Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period due to the growing number of OEMs in the region. The region has been witnessing huge demand lately owing to a rise in UAV applications. The supportive government initiatives and the increasing defense budget further fuel the market's growth. The upsurge in the region's commercial and military aircraft development and procurement programs is anticipated to boost the market's growth.



  • For instance, in August 2022, Japan unveiled the biggest order of attack drones after a recorded USD 40 Billion defense budget request.


Europe accounted for the second-highest market share in 2022. The region’s large share is owed to the growing demand for composite aerostructures. Additionally, key regional players are expected to boost the market in the forecast period.


The Middle East & Africa region will grow notably during the forecast period, owing to increasing initiatives by the government and global market players entering the market. A rise in military spending, growing demand, and emerging partnerships with global players and the emerging business jets market are expected to boost the market growth.


Latin America is expected to grow at a rising CAGR, owing to the budding market for aerostructure manufacturing. Additionally, frequent flyers are a major reason for the high number of aircraft deliveries in the reason leading to a growth in the market in the forecast period.


KEY INDUSTRY PLAYERS


Key Market Players Are Focused On Providing Advanced and Light Weight Aerostructures to Survive in the Market


The aerostructures market analysis is consolidated, with several global and regional players operating in this industry. Key market players have varied product portfolios, significantly focusing on producing lightweight aerostructures for OEMs. The top players in the industry are Airbus SAS, Bombardier Inc., and other listed companies in the ranking analysis. Leonardo SpA is expected to lead the market owing to its global presence.


Other prominent players involved in the market include SAAB AB, Triumph Group Inc., Cyient Ltd, and other market players highly involved in new product launches and frequent partnerships and acquisitions to sustain their market position.


List of Key Companies Profiled:



  • AAR Corp (U.S.)

  • Bombardier Inc (U.S.)

  • SAAB AB (Sweden)

  • Spirit Aerosystems Inc. (U.S.)

  • Triumph Group Inc. (U.S.)

  • Cyient Ltd (India)

  • Elbit Systems Ltd (Israel)

  • GKN Aerospace (U.K.)

  • Leonardo SpA (Italy)

  • The Boeing Company (U.S.)

  • Airbus SAS ( France)




KEY INDUSTRY DEVELOPMENTS:



  • May 2023 – Massachusetts Institute of Technology, a prestigious institute, unveiled a technological advancement and inexpensive development to strengthen essential materials used today in aerospace and energy generation.

  • April 2023 – Leonardo SpA, an Italian aerospace components and aircraft conglomerate, unveiled a partnership with Cisco Technology to develop joint technology projects. The partnership aims to develop joint products and solutions as a green transition to secure logistics and transportation solutions.

  • February 2023 – Heart Aerospace, a Sweden-based electric aircraft developer, unveiled its selection as a long-term partner for air-New Zealand next-gen mission aircraft partnership. The partnership will bolster the replacement process of the airline’s Q300 domestic fleet.

  • January 2023 – General Atomics Aeronautical Systems, Inc. (GA-ASI), a pioneer aerospace conglomerate, partnered with Bharat Forge, a forging company, to boost airframe manufacturing in India. The partnership includes manufacturing subassemblies, landing gear components, and remote-pilot aircraft assemblies.

  • June 2021 – Spirit AeroSystems, A U.S.-based global aerostructures provider, entered an exclusive agreement with Rolls-Royce, an aircraft engine manufacturer. The exclusive agreement is designed to build slim line next-gen nacelle for the company’s Peart 10X new engine. The slim nacelle is a ready-to-assemble ultra slim to optimize aircraft performance and reduce noise.



REPORT COVERAGE


An Infographic Representation of Aerostructures Market

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The market report provides detailed information on the market and focuses on leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and competitive landscape, and highlights key industry developments. In addition to the above factors, it contains several factors that have contributed to the sizing of the global market in recent years.


REPORT SCOPE AND SEGMENTATION



















































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 6.85% from 2023 to 2030



Unit



Value (USD Billion)



Segmentation



By Platform



  • Fixed Wing

    • Commercial

    • Military

    • Business Jet

    • General Aviation Aircraft



  • Rotary Wing

    • Commercial Helicopters

    • Military Helicopters

    • UAVs





By Component



  • Wings

  • Nose

  • Fuselage

  • Nacella and Pylon

  • Empennage

  • Others



By Material



  • Alloys

  • Composite

  • Metals



By Country



  • North America  (By Platform, Component, Material and Country)


    • U.S. (By Platform)

    • Canada (By Platform)


  • Europe (By Platform, Component, Material and Country)


    • U.K. ( By Platform)

    • Germany( By Platform)

    • France( By Platform)

    • Russia( By Platform)

    • Rest of Europe( By Platform)


  • Asia Pacific (By Platform, Component, Material and Country)


    • China ( By Platform)

    • India ( By Platform)

    • Japan ( By Platform)

    • Australia ( By Platform)

    • Rest of Asia Pacific ( By Platform)


  • Middle East & Africa (By Platform, Component, Material, and Country)


    • UAE ( By Platform)

    • Saudi Arabia ( By Platform)

    • Qatar ( By Platform)

    • Rest of Middle East and Africa ( By Platform)


  • Latin America (By Platform, Component, Material, and Country)


    • Brazil ( By Platform)

    • Argentina ( By Platform)

    • Rest of Latin America ( By Platform)




Frequently Asked Questions

Fortune Business Insights stated that the global market size was USD 107.07 Billion in 2022 and is projected to reach USD 183.24 Billion by 2030

Registering a CAGR of 6.85%, the market will exhibit rapid growth during the forecast period (2023-2030).

The fixed-wing type segment will dominate this market during the forecast period.

Airbus SAS, Bombardier Inc., and The Boeing Company are the leading players in the global market.

North America topped the market in terms of shares in 2022.

The U.S. dominated the market in 2022.

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