Aerostructures Market Size, Share & COVID-19 Impact Analysis, By Component (Wings, Nose, Fuselage, Nacelle and Pylon, Empennage), By Material (Alloys, Composite, and Metals), By Platform (Fixed-wing Aircraft (Commercial Aircraft, Military Aircraft, Business Jets) and Rotary Wing Aircraft (Commercial & Civil Helicopters, Military Helicopters, and UAVs), By End-Use (Aftermarket and OEM), and Regional Forecasts, 2020-2027

The global aerostructures market size was USD 62.40 billion in 2019 and is projected to reach USD 74.54 billion by 2027, exhibiting a CAGR of 7.50% during the forecast period.

An aerostructure includes all the necessary components required to construct an airplane such as flight control surfaces, fuselage, wings, nose, nacelle and arch, empennage, and others. The rise in aircraft deliveries by the major manufacturers is expected to aid in market growth. For instance, in 2019, the Boeing Company delivered a total of 380 aircraft, whereas, Airbus SE set a new record by delivering a total of 863 fleets. Airbus SE predicts that in the next 20 years, the demand for new 39,000 commercial aircraft is expected to boost the market growth.

COVID-19 Results in Reduced Number of Commercial Aircraft Deliveries

The COVID-19 pandemic has created a huge impact on the aerospace and defense industry. In the first quarter of 2020, The Boeing Company and the Airbus SE registered the delivery of 70 and 196 aircraft, respectively. In 2019, during the same period, around 389 aircraft were delivered by both companies. This shows that there is a decline in aircraft deliveries owing to pandemic across the globe. The decline in aircraft deliveries and new orders has affected this market.

The continuously growing demand for UAVs for surveillance is likely to support market growth. For instance, in June 2019, Kratos Defense & Security Solutions, Inc. received a USD 57 million worth contract from the U.S. Navy and Air Force for the development of jet-powered unmanned vehicles. In addition to this, in July 2019, Insitu Inc., a subsidiary of Boeing Defense, Space & Security division received a USD 390.4 million contracts for a period of three years to build the 80 RQ-21A Blackjack UAVs for the U.S. Navy, Marine Corps, and three other military sales clients.

LATEST TRENDS

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Increasing Adoption of 3D Printing in Aircraft Manufacturing to Favor growth

Lightweight material such as superalloys and composites are generally preferred by the manufacturers to reduce the overall weight of aerostructures. As the demand for composite material in the aviation industry has drastically increased, manufacturers are adopting advanced technologies such as 3D printing technology or additive manufacturing to ramp up their production capacity.

The implementation of 3D printing technology in manufacturing assists in making high volume products in less time with improved quality and performance. Moreover, the use of this technology significantly helps to reduce the amount of consumed material, while ensuring a limited generation of waste that results in a cost-effective manufacturing process. Thus, the growing adoption of 3D printing technology for manufacturing is expected to drive the market growth.

DRIVING FACTORS

Increasing Demand for UAVs to Propel Market Growth

The upsurge in demand for UAVs in military and commercial applications is the significant factor that is driving the growth of the global market. The demand for military unmanned vehicles is propelling due to the rise in border conflicts and disputes among neighboring countries. Therefore, the procurement of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) UAVs are increasing to enhance intelligence, surveillance, and reconnaissance (ISR) capabilities. These UAVs have high endurance, which is about 24 to 48 hours, and at a higher height that further helps to improve military mission abilities. Besides, UAVs made with composite materials provide better performance than traditional UAVs.

According to our research, the global UAV market will expect to grow at a significant rate and anticipated to reach a value of USD 25.13 billion by 2029. In this market, the high value is accounted for the delivery of military and defense UAVs. 

Increasing Adoption of Composite Components to Propel Market Growth

Nowadays, composite materials are highly preferred to manufacture the airframe of airplanes owing to their properties such as toughness, durability, and reliability. Glass-reinforced plastics (GRP) and fiber-reinforced plastics (FRP) are composites that are mostly used to fabricate the skin and outer layers of the aircraft. GRP composite materials are produced using glass fibers and contain composites such as vinyl, epoxy, and polyester.

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. FRP possesses high strength fibers with a polymer matrix. The significant properties of this material over metals is that these composites are lightweight. Thus the use of composite material for aircraft structures reduces the overall weight of an aircraft. In March 2020, the National Composites Centre (NCC), based in the U.K. established a new R&D facility that is focusing on the utilization of advanced digital technologies to produce the airplane wings of the future.

RESTRAINING FACTORS

Hard to Recycle Composite Materials to Restrain Growth

The composite materials have various properties that make them an ideal choice for the development of aircraft structures. However, these materials have one disadvantage that is expected to hamper the market growth. The recycling of composite material is very difficult as it is generally used in combination with different materials such as foam cores. This is anticipated to generate solid waste management issues in the forthcoming years.

SEGMENTATION

By Component Analysis

Fuselage Segment to Hold the Highest Market Share

Based on the component, the market is divided into wings, nose, fuselage, nacelle and pylon, empennage, and others.

Among these, fuselage registered the highest Aerostructures market share in 2019 and is expected to remain dominant during the forecast period. The fuselage is a crucial component of the aircraft that is used to cover an entire airplane.

The wing component segment is estimated to grow at the fastest rate during the forecast period. This growth is attributed to the rising demand for composite aircraft wings to replace conventional metal wings. The conventional aircraft wings are manufactured by using metal. However, today airplanes wings are extensively being produced using composite materials.

By Material Analysis

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Rising Adoption of Lightweight Composite Material to Reduce Aircraft Weight will Drive Market

In terms of material, the market is segmented into alloys, composite, and metals.

Among these, the metal material is estimated to account for the high market share in 2019 owing to its wide usage in the airframe of the existing airplane.

The composite material is anticipated to showcase the fastest growth rate during the forecast period. This is attributed to its rising adoption for the development of the aircraft component. The aircraft components built with composite materials offer high design flexibility, strength, durability, and low weight. These properties of the composites help to improve aircraft performance and reduce the overall weight. For instance, components such as the wings and fuselage of the Boeing 787 and Airbus 350 XWB are made up of composite material.

By Platform Analysis

High Utilization of Fixed-Wing Military and Commercial Aircraft Propel the Market Growth

Based on the platform, the market is segmented into fixed-wing aircraft and rotary-wing aircraft.

Among these, the fixed-wing aircraft segment is expected to experience fast-paced growth during the forecast period. The segment covers commercial aircraft, military aircraft, business jets, general aviation aircraft, and UAVs that will favor the major market growth. Moreover, the rising procurement of military UAVs such as MALE and HALE for ISR applications are supporting the expansion of the market during the forecast period.

By End-Use Analysis

Increasing Demand for Composite Aircraft Component to Drive the OEM Segment

In terms of end-use, the market is segmented into OEM and aftermarket.

The OEM segment registered the largest market share in the base year and anticipated to grow with the fastest growth rate during the forecast period. This is attributable to the increasing demand for unmanned aerial vehicles (UAVs) in various applications such as border surveillance, city area monitoring, medicine delivery, parcel deliveries, and others. Moreover, the growing composite product demand to improve airplane operation with innovative aerostructures components design is expected to boost the growth of the market.

The aftermarket segment is anticipated to experience considerable growth in the market in the forthcoming years owing to the rising number of local aerostructures aftermarket services providers in high growth regions.

REGIONAL INSIGHTS

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In terms of geography, the market is divided into North America, Europe, Asia Pacific, and the Rest of the world.

North America held the highest share in the market and is estimated to dominate the global market during the forecast period. This is attributable to the growing business and commercial aviation industry in the region that has the largest aerospace and defense aircraft demand globally. Besides, the fast-paced adoption of advanced manufacturing technologies and a significant investment in research and development activities are expected to drive market growth. The presence of several key market players involved in the market such as Bombardier Inc., Triumph Group, Inc., and Spirit Aerosystems, Inc., among others will further favor market growth. The market stood at USD 24.40 billion in 2019.

Asia Pacific aerostructures market is expected to showcase the fastest growth in the region during the forecast period. The growth can be attributed to the rising focus on the development of the aircraft manufacturing facilities in the region. The supportive government initiatives and the rising defense budget are further fueling the growth of the market. The upsurge in the commercial and military aircraft development and procurement programs in the region is anticipated to boost the growth of the market. For instance, in December 2018, the Boeing Company established the first 737 aircraft manufacturing plant in China under the joint venture with Commercial Aircraft Corporation of China. The Boeing Company invested around USD 33 million to own a large stake in the joint venture.

Europe held the second-largest market share in 2019. This is attributed to the rising aerostructures component demand from key aircraft manufacturing facilities of Airbus SE and ATR from countries such as Germany, Italy, France, the U.K, and others. Moreover, the presence of key manufacturers in the region such as Saab AB, Leonardo S.P.A., and GKN Aerospace, among other further fuels the market growth during the forecast period.

The rest of the world is expected to showcase a sluggish growth in the market during the forecast period owing to the limited number of aircraft part manufacturers in the region. Despite this, countries such as UAE are experiencing a significant demand for premium aircraft that is expected to support market growth.

KEY INDUSTRY PLAYERS

Major Companies to Focus on Adopting Advanced Manufacturing Technologies and Strengthen their Market Position

The global market for aerostructures is dominated by various key manufacturers such as GKN Aerospace AAR Group, SAAB AB, Leonardo S.P.A., and Stelia Aerospace Group, among others. These key players have adopted industry automation and robotics technologies to improve the manufacturing capabilities and strengthen the brand portfolio by offering a quality product to the end-user.

LIST OF KEY COMPANIES PROFILED:

• AAR Corporation (Illinois, the U.S.)


• Bombardier Inc. (Montreal, Canada)


• Cyient Ltd. (Hyderabad, India)


• GKN plc (Redditch, the U.K.)


• Leonardo S.P.A. (Italy)


• RUAG International Holding AG (Bern, Switzerland)


• Saab AB (Sweden)


• Spirit AeroSystems Holdings Inc. (Wichita, the U.S.)


• STELIA Aerospace Group (France)


• Triumph Group, Inc. (Berwyn, the U.S.)


• Collins Aerospace, a Raytheon Technologies company (Charlotte, the U.S.)


• Elbit Systems Ltd. (Haifa, Israel)


• Other Players

KEY INDUSTRY DEVELOPMENTS:

• September 2020 – ThyssenKrupp Aerospace announces to extend its current contract for the next three years with Mitsubishi Heavy Industries Canada Aerospace Inc. Under a contract agreement, which started in 2018, ThyssenKrupp Aerospace agreed to conduct material for aluminum wing planks.


• December 2019 – France based Spirit AeroSystems Holdings Inc. announced the acquisition of Bombardier aerostructures and aftermarket services businesses present in Belfast, Casablanca, and Dallas. The company has acquired this new business for approximately USD 1.1 billion.


• August 2019 –The U.S. Airforce awarded a USD 999 million worth indefinite-delivery/indefinite-quantity (IDIQ) contract to the Boeing Company for A-10 wing replacements.


• February 2019 –Saab AB awarded a contract to Aerostructures Assemblies India Pvt. Ltd. (AAI), which is a joint venture between Saab AB and Aequs Aerospace. According to this contract, AAI has to build the structural assembly for the Over Wing Doors (OWD) on the Airbus A321neo program

REPORT COVERAGE

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The Aerostructures market research report provides a detailed analysis of the market. It encompasses key aspects such as R&D capabilities and optimization of the manufacturing process. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.

Report Scope & Segmentation