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Global Aerostructures Market to Grow USD 84.0 billion by 2028 | Key Players: Triumph Group, Latecoere, Saab AB, Airbus SE and Elbit Systems

06-07-2023 01:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: ReportsnReports

Aerostructures Market

Aerostructures Market

The Aerostructures market is projected to grow from USD 61.0 billion in 2023 to USD 84.0 billion by 2028, at a CAGR of 6.6% from 2023 to 2028. The market for aerostructures is driven by various factors such as increased adoption of composite materials and decline in cost of composite materials. However, obstacles associated with recycling composite materials and high capital investments are limiting the overall growth of the market.

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Major Players in the aerostructures market are Triumph Group (US), Latecoere (France), Saab AB (Sweden), Airbus SE (Netherlands) and Elbit Systems (Israel).

The aerostructures market refers to the industry involved in the design, manufacturing, and supply of structural components and assemblies for aircraft. Aerostructures are the primary load-bearing structures of an aircraft, including wings, fuselage, empennage, and nacelles. These components provide structural integrity, aerodynamic performance, and support for various systems and equipment within an aircraft.

Key aspects and applications of the aerostructures market include:

Wings: Aerostructures for wings include wing boxes, spars, ribs, and skins. These components are responsible for carrying the aerodynamic loads, providing lift, and housing fuel tanks, landing gear, and control surfaces.

Fuselage: The fuselage is the main body of an aircraft. Aerostructures for the fuselage consist of skin panels, frames, bulkheads, stringers, and other structural elements. They provide the overall strength, stiffness, and shape of the aircraft's body.

Empennage: The empennage refers to the tail section of an aircraft, including the horizontal stabilizer, vertical stabilizer, and control surfaces such as elevators and rudders. Aerostructures for the empennage ensure stability, control, and balance of the aircraft.

Nacelles: Nacelles are the structures housing the engines on an aircraft. Aerostructures for nacelles include fan cowls, thrust reversers, and other components that provide aerodynamic integration, noise reduction, and efficient engine operation.

The aerostructures market is influenced by several factors:

Aircraft Deliveries and Production Rates: The demand for aerostructures is closely tied to the production and delivery of commercial and military aircraft. The market is driven by aircraft manufacturers' production plans, order backlogs, and the overall growth of the aviation industry.

Aircraft Modernization and Retrofitting: The retrofitting and upgrading of existing aircraft with advanced technologies and improved components contribute to the demand for aerostructures. Upgrading older aircraft with modern aerostructures can enhance performance, efficiency, and safety.

Technological Advancements: Advancements in materials, manufacturing techniques, and design methodologies have a significant impact on the aerostructures market. Lightweight and high-strength materials, such as carbon fiber composites and advanced alloys, enable the production of lighter, more fuel-efficient aircraft structures.

Regulatory Requirements and Safety Standards: Compliance with aviation safety standards and regulations set by organizations like the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) influences the design and manufacturing processes of aerostructures. Manufacturers must meet rigorous quality and safety requirements to ensure airworthiness.

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The market for aerostructures is expected to grow steadily in the long term, driven by factors such as increasing air travel demand, fleet expansion, the introduction of new aircraft models, and the need for lightweight and fuel-efficient structures. Additionally, the growing emphasis on sustainability and the adoption of advanced manufacturing technologies, such as additive manufacturing, may influence the future development of the aerostructures market.

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