Press release
Collapsible Aircraft Wings Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Collapsible Aircraft Wings Market
The collapsible aircraft wings market size is expected to see strong growth in the next few years. It will grow to $3.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to urban air mobility, commercial aviation, environmental regulations, emergency response and humanitarian aid, space exploration. Major trends in the forecast period include integration with electric propulsion, autonomy and unmanned aerial vehicles (UAVs), evolving urban air mobility (UAM) concepts.
Market Overview -
Collapsible aircraft wings refer to a type of aircraft wing design that incorporates mechanisms allowing the wings to fold or collapse partially or fully during certain phases of flight or for storage purposes. These wings are designed to optimize aerodynamic performance, improve maneuverability, and reduce the aircraft's overall size.
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Defense Sector Investments Spur Growth In Collapsible Aircraft Wings Market
Increasing investments in the defense and military sectors are expected to propel the growth of the collapsible aircraft wings market going forward. he defense and military sectors refer to segments of the economy and government dedicated to national defense, security, and military operations. The rise in defenses and military investment is due to rising national security threats, strategic priorities, economic factors, and political dynamics. Investments in aircraft wings used to span research and development, materials science, design, testing, manufacturing, integration, and certification, aimed at realizing the benefits of foldable wing technology for enhanced aircraft performance, flexibility, and operational capabilities. For instance, in December 2022, according to reports published by the European External Action Service, a Luxembourg-based government organization, defense spending in the European Union surged to $235.4 (€214 billion) in 2021, an increase of 6% from the previous year. Therefore, increasing investments in the defense and military sectors are driving the growth of the collapsible aircraft wings market.
Competitive Landscape -
Major companies operating in the collapsible aircraft wings market are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell Aerospace, Mitsubishi Heavy Industries Ltd, BAE Systems plc, Safran S.A., Thales Group, L3Harris Technologies Inc, Textron Inc, Dassault Aviation SA, Bombardier Aviation, EHang Holdings Limited, Spirit AeroSystems Holdings Inc, Israel Aerospace Industries Ltd, Embraer S.A., Bell Textron Inc, Baykar Technologies, AeroVironment Inc., Yuneec International, Kawasaki Heavy Industries, RUAG Group
Strategic Partnerships Driving Growth in the Collapsible Aircraft Wings Industry
Major companies operating in the collapsible aircraft wings industry are adopting a strategic partnership approach to leverage emerging technologies and expand their market presence. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in March 2023, TATA Advanced Systems Ltd., an India-based aerospace company, partnered with Lockheed Martin, a US-based aerospace manufacturing company. This partnership aims to produce advanced aerospace technology in India, focusing on the F-16 Block 70 and C-130 aircraft, strengthening the aerospace industry, and enhancing India's self-reliance in defense manufacturing. Furthermore, in March 2022, Airbus SE, a Netherlands-based aircraft manufacturing company, partnered with Spirit AeroSystems, a US-based manufacturer of aero systems. Through this collaboration, they aim to develop the wings for the next generation of Airbus eVTOL aircraft, optimize flight efficiency by balancing hover and cruise efficiency while effectively transmitting aerodynamic loads, and support Airbus' exploration of disruptive aircraft design while complying with stringent regulations.
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Key Segments -
The collapsible aircraft wings market covered in this report is segmented -
1) By Type: Single Wing, Multi Wing, Rotor Wing
2) By Material: Metal, Composite, Hybrid
3) By Application: Fixed Wing Aircraft, Rotary Aircraft, Unmanned Aerial Vehicle (UAVs), Other Applications
4) By End-User: Original Equipment Manufacturers, Maintenance, Repair, And Overhaul
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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Summary
Orbis Research Present's Global Commercial Aircraft Wing Market 2017-2021 Major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Description
Latest Research Report – Global Commercial Aircraft Wing Market 2017-2021
The Global Commercial Aircraft Wing Market to grow at a CAGR of 7.61% during the period 2017-2021
the following companies as the key players in the Global Commercial Aircraft Wing Market: Airbus, Boeing, Bombardier,…
