Press release
Aerostructures Market Set to Surpass USD 74 Billion by 2030 with a 9% CAGR
Aero Structures Market InsightsAerostructures Market is expected to register a CAGR of 9% from 2022 to 2030 and hold a value of over USD 74 billion by 2030.
The Aerostructures Market refers to the segment of the aerospace industry that designs, develops, and manufactures components and structures for aircraft, such as fuselage, wings, tail assemblies, landing gear, and propulsion systems. These structures are typically made from advanced materials such as composites, titanium, and aluminum alloys to achieve high strength, durability, and light weight, which are critical factors in the design and performance of modern aircraft. The market is driven by a variety of factors, including technological advancements, increasing demand for fuel-efficient and environmentally friendly aircraft, and rising global air traffic.
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Key Players
Some of the key market players are:
• AAR Corp. (US)
• Bombardier Inc. (Canada)
• Ruag Group (Switzerland)
• Saab AB (Sweden)
• Spirit Aerosystems Inc. (US)
• Stelia Aerospace Group (France)
• Triumph Group Inc. (US)
• Cyient Ltd (India)
• Elbit Systems Ltd (Israel)
• GKN Aerospace (UK)
• Leonardo SpA (Italy)
• UTC Aerospace Systems (US)
Market Segmentation
The aerostructures market has been segmented into type, material and platform.
Based on the type, the market has been segmented into fuselage, flight control surfaces, wings, nose, nacelle and pylon.
Based on the material, the market has been segmented into composites, alloys and metals.
Based on the platform, the market has been segmented into fixed wing and rotary wing.
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Regional Analysis
The largest region for the aerostructures market is North America, which includes the United States and Canada.
The North American region dominates the aerostructures market due to several factors. Firstly, the region is home to some of the world's largest aerospace companies, including Boeing, Lockheed Martin, and Northrop Grumman, which drive the demand for aerostructures. Additionally, the region has a highly skilled workforce, advanced manufacturing technologies, and a robust supply chain that supports the production of aerostructures.
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