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The global aerostructures market size was USD 56.96 billion in 2018 and is projected to reach USD 78.12 billion by 2026, at a CAGR of 4.07% during the forecast period.
An aerostructure is a combination of all the parts required to build an aircraft such as flight control surfaces, fuselage, wings, nose, nacelle & pylon, empennage, and others. It is an essential part of the aircraft. Increasing aircraft deliveries are anticipated to boost the market. Furthermore, technologically advanced design structure, growing demand for material such as metal, super-alloys, and alloys have assisted the industry growth at a faster rate. This product is having the most significant aerostructures market share in the overall aircraft production; most of the leading aircraft OEMs such as Boeing, Airbus, Embraer, and Bombardier are outsourcing their product requirement to tier-1 suppliers in the aviation industry.
The rising wealth of developing economies, allowing accessibility to air traffic, is a prime factor in the growth of passenger traffic. In recent years, the global aviation sector has witnessed the highest demand for new aircraft deliveries. An increase in the number of flights, a rise in travel and tourism, and an increase in the demand and order bookings of new aircraft from commercial airlines and aircraft operators are the important factors driving the aviation industry, which is further driving the aerostructures market.
Rising adoption of the composite product type by the aviation industry will drive the market during the forecast period. The adoption of 3-D printing used to generate an aerostructure base, as well as the declining cost of composite material, are the upcoming opportunities in the market.
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The global aerostructures market consists of different kinds of systems, including automated production systems, automated assembly systems, small tools, and several services offering tools. The automated production system in aviation is a combination of the aircraft's fastening process and composite materials. In the aviation industry, the requirement of low weight aircraft components and systems is major concern, component weight is directly related to aircraft fuel efficiency. Demand for low weight material in aircraft manufacturing is witnessing the aerostructures market growth.
The low weight material such as composites structures, superalloys, and low weights metals are commonly used by OEMs to reduce the overall weight of the product. As the requirement for composites structures in aviation industry has gone up, the OEMs are adopting emerging technologies such advanced materials, 3D printing and others technologies to ramp up their production capacity. The aerospace composite includes a combination of different lightweight materials such as GRP, CRP, BRP, and others.
The last decade witnessed a large number of merger and acquisition activities in the market. The market is witnessing moderate competition among other players, as the aircraft OEMs are outsourcing aircraft components to the Aerostructures manufacturers. However, recyclability issue of composites materials is a major restraint of the market.
“The increasing Unmanned Aerial Vehicles (UAVs) deliveries likely to propel the aerostructures Market.”
One of the significant drivers for the aerostructures market growth is the rising aircraft deliveries across the globe. Increasing air traffic due to global connectivity, increased procurement of commercial as well as military aircraft and UAV’s creates a demand for an aircraft. The rise in High-altitude long-endurance (HALE), and Medium-altitude long-endurance (MALE) military UAVs deliveries require composites material. Composites material improves the performance of military UAVs. The OEMs are demanding products made of composites material, thereby an increase in the composite materials for military UAVs is driving the market. HALE UAVs can fly at a height of 60,000 feet, and they have 32 hours of nonstop flying capacity.
Mostly these aircraft do not carry any weapon with it. MALE UAVs can operate at the height of 10,000 feet to 30,000 feet, and they have 24 to 48 hours of nonstop flying capacity. The rise in HALE and MALE UAV deliveries in the defense sector due to its uninterrupted flying ability feature helpful for surveillance, recognition, and multi-application capabilities are driving the market for aerostructures. The market does not cover the scope for commercial UAVs; thus, the market for the military UAVs covers Tactical, MALE and HALE unmanned aerial vehicles in the market.
“Rising adoption of composite products by the commercial aviation industry responsible for driving the aerostructures market.”
The composite material is the most favored choice to build the airframe of aircraft due to its properties, including the strength and stiffness of the material. Expanded exploration technology used to establish primary aircraft structures such as fuselage and wings. These include cost-effective manufacturing, lightning protection, damage tolerance, and failure prediction. All these factors are beneficial market growth. Fiber-reinforced plastics (FRP) and Glass-reinforced plastics (GRP) are leading composites used to build the skin and outer layers of the aircraft.
Fiber-reinforced plastics (FRP) includes fibers and polymer resin, Fiber mainly giving strength to the material, and if it is associated with polymer, then it increases its inter-laminar shear strength. Fiber-reinforced plastics having high strength fibers with a polymer matrix. The major advantage of this material over metals is that these composites are lightweight. It is an alternative of metal and aluminum, therefore majorly used for reducing the weight of the aircraft. Fiberglass reinforced plastics GRP is a composite material made from glass fibers, and it contains composites such as vinyl, epoxy, and polyester.
“Growing production capacity of commercial aircraft is driving the market for Aerostructures.”
Based on the component, the market segmented into flight control surfaces, fuselage, wings, nose, nacelle & pylon, empennage, and others. The fuselage estimated to remain the largest component segment of the aircraft aerostructures market. The fuselage is an essential component of the aircraft used to cover the aircraft. Traditional aircrafts made from the metal, but nowadays latest aircrafts wings made from the composite materials.
“Increase in demand for precious metals such as titanium largely used to build lightweight products is driving the market.”
Based on the material type, the aerostructures market analysis report segmented as metal, alloys, and composite. The metal products, which is used to build airframe of the aircraft, held a significant proportion in the material segment, whereas composite products are projected to show a higher growth rate during the forecast period. Aircraft OEMs primarily used lightweight composite parts to control the overall weight of the aircraft to ensure maximum safety and reliability of the aircraft, which used to achieve the target of effective features such as fuel efficiency and reducing emissions.
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Some of the popular aircraft models, such as Airbus A350 XWB and Boeing 787 used maximum components into their aerostructures, such as fuselage and wings made from the maximum use of composite materials.
“Growing demand for fixed-wing aircraft drives the market during the forecast period.”
Based on platform type, the market segmented into fixed-wing aircraft and rotary-wing aircraft. The fixed-wing segment is projected to show significant growth during the forecast period. The fixed-wing aircraft covers commercial aircraft, business jets, general aviation aircraft, and fixed-wing UAVs, the growth of the fixed-wing aircraft owing to the rising demand for fixed-wing military UAVs such as HALE and MALE. Boeing Phantom Eye, RQ-3A DarkStar, and Airbus Zephyr are some of the important HALE UAVs platform considered under the UAVs segment, these UAVs used in defense services for surveillance purpose. Increasing demand for military UAVs in the defense sector drives the market during the forecast period.
North America is the largest market and projected to be dominant throughout the forecast period. North America having the largest aerostructures market share in globally, due to the considerable growth in the commercial and business aviation sector in the region. Furthermore, the improvement of advanced manufacturing techniques within the region and rise in the R&D spending will drive the market for aerostructures. Leading manufacturers such as Triumph Group, Inc. (U.S.), and UTC Aerospace Systems (U.S.), in this region, projected to drive the market in North America.
The Asia Pacific is analyzed to remain the fastest-growing region, followed by North America. Countries such as China, India, Japan, and the rest of the Asia Pacific are expected to drive the market in the region. Asia-Pacific is set to be the highest growing market during the forecast period. An increasing number of aircraft design and construction programs such as Boeing program as well as China - Boeing finishing center established in China under a joint venture with Commercial Aircraft Corp. of China (COMAC). Thus the increasing commercial aircraft manufacturing in the country is driving the market in the Asia Pacific.
North America Aerostructures Market Size, 2018
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Europe placed as a second-biggest market in 2018 due to the massive component demand from major aircraft manufacturing facilities of Airbus and ATR from countries such as the U.K, Germany, France, Italy, and others are expected to drive the aerostructures industry. The tier-1 suppliers based in the region are sourcing the products to these aircraft OEMs; thus the market in Europe witnesses sustainable growth during the forecast period.
Furthermore, the development of lightweight structures, collaborations with Aircraft OEMs, mergers & acquisitions, from the tier-1 suppliers are some of the important factors to drive the market in Europe. Leading manufacturers such as GKN Aerospace (UK), Leonardo S.P.A.(ITALY), Ruag Group (Switzerland), Saab AB (Sweden), and Stelia Aerospace Group (France) in this region projected to drive the growth of the aerostructures market.
“Market Players like GKN Aerospace, Saab AB, Bombardier Inc., UTC Aerospace, And Leonardo S.P.An Among Others Will Ensure to Strengthen the Market Position concerning Aerostructures throughout the Globe.”
The market is dominated by some of the leading aerostructures market players, due to their strong product portfolio, key strategic decisions, and long term relationship with the aircraft OEMs. These include a group of key companies with more widespread geographic presence and continued R&D resulting in strong regulatory approvals.
Manufacturers are aiming to adopt strategies such as mergers & acquisitions, joint development, capability enlargement, design and engineering, long term contract & agreements, and sizable investments in R&D.
Introduction of advanced manufacturing technologies such as 3D printing and aerospace robotics are driving the market. The market is segmented by a different component, material, and platform. The aerostructures market research covers the scope of different countries and regions, which are generating the demand for the aerostructures.
An Infographic Representation of Aerostructures Market
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Along with this, the report provides a comprehensive analysis of the global aerostructures market dynamics and competitive landscape for the key manufacturers in the market.
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Value (USD Billion)
Fortune Business Insights says that the Aerostructures market was valued at USD 56.96 Billion in 2018 and is projected to reach USD 78.12 Billion by 2026.
Growing at a CAGR of 4.07% the market will exhibit steady growth in the forecast period (2015-2026)
The composite material segment is expected to be the leading segment in this market during the forecast period.
The increasing aircraft deliveries and production capacity are estimated to drive the growth of the Aerostructures market.
GKN Aerospace, Stelia Aerospace Group, Aar Corp., Bombardier Inc., Leonardo S.P.A, Saab AB, and Cyient Ltd are some of the key players in the market.
North America estimated to hold the highest market share in the market.
Growing demand for UAVs expected to drive the market.
The emergence of 3-d printing in aerospace manufacturing is a new trend in the Aerostructures market.
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