Aero Wing Market Size, Share, Emerging Trends, Growth, and Forecast 2024-2032

The global aero wing market was valued at USD 12.64 billion in 2023 and is expected to expand from USD 13.65 billion in 2024 to USD 24.85 billion by 2032, with a compound annual growth rate (CAGR) of 6.9% from 2024 to 2032. In 2023, North America held the largest share of the market, accounting for 31.57%.

An aero wing is the defining feature of an aircraft, playing critical roles in every stage of the flight operation. Over the past few years, airplane manufacturers have been employing novel tools, technologies, and materials to manufacture different aircraft components, including wings. For example, in May 2019, engineers from the Massachusetts Institute of Technology (MIT) and NASA built a new type of airplane wing by incorporating a mix of flexible and stiff materials in its structure. This blend of materials will allow the wing to change shape to control the plane's flight. Similarly, Airbus has been utilizing 3D printing to manufacture different parts for its A350, including aircraft wings. The increasing deployment of such new-age methods will, therefore, accelerate the growth of this market.

𝐆𝐞𝐭 𝐀 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞:
https://www.fortunebusinessinsights.com/enquiry/sample/aero-wing-market-105074

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐞 𝐀𝐞𝐫𝐨 𝐖𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭:
‣ Airbus UK (The U.K.)
‣ AVIC XCAC (China)
‣ GKN Aerospace Services Limited (The U.K.)
‣ Mitsubishi Heavy Industries (Japan)
‣ Sonaca Group (Belgium)
‣ Spirit AeroSystems, Inc. (The U.S.)
‣ Triumph Group (The U.S.)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧
Based on platform, the aero wing market has been segmented into commercial and military. By type of build, the market has been segregated into conventional skin fabrication and composite skin fabrication. On the basis of material, the market has been divided into alloys, metals, and composites. By region, the market has been grouped into North America, Europe, Asia Pacific, and the Rest of the World.

𝐖𝐡𝐚𝐭 𝐃𝐨𝐞𝐬 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐟𝐟𝐞𝐫?
This report contains actionable insights into the factors driving and restraining the aero wing market. It also offers a detailed examination of the market segments, as well as a granular study of the regional dynamics shaping the market. In addition, the report also provides a thorough evaluation of the key market players and their dominant strategies.

𝐀𝐬𝐤 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧:
https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/aero-wing-market-105074

𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫
𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐨𝐟 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐅𝐥𝐢𝐠𝐡𝐭 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐛𝐲 𝐒𝐭𝐚𝐫𝐭𝐮𝐩𝐬 𝐭𝐨 𝐅𝐮𝐞𝐥 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The emergence of startups has heralded a new era of progress in the aerospace industry. These entities are specializing in niche aviation domains, innovating novel products and introducing breakthrough flight technologies, especially those associated with aero wings. For example, Aliptera, a Canada-based startup, offers a small personal vertical takeoff and landing (VTOL) aircraft, developed using the Lipwing technology and operated through a computerized flight controller for landing, take-off, and mobility. The US-based startup, Airspace Experience Technologies, has developed a VTOL aircraft called MOBi-ONE, combining electric capabilities, automation, and lightweight materials. Its most significant feature is the tiltable wing system that can be operated both manually and automatically. The broadening portfolios of these startups are opening up new avenues of growth and expansion for this aero wing market.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬
𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐒𝐡𝐨𝐰𝐜𝐚𝐬𝐞 𝐓𝐫𝐞𝐦𝐞𝐧𝐝𝐨𝐮𝐬 𝐆𝐫𝐨𝐰𝐭𝐡; 𝐄𝐮𝐫𝐨𝐩𝐞 𝐭𝐨 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐋𝐮𝐜𝐫𝐚𝐭𝐢𝐯𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬
North America is expected to chart an incredible growth trajectory and lead the aero wing market share during the forecast period as the region is home to a large number of aviation giants such as Lockheed Martin and Raytheon. These behemoths have been investing heavily in advanced wing technologies, which have aided the growth of the regional market. In 2020, the region's market size stood at USD 3.95 billion.
An increasing number of collaborations between aerospace companies, such as the partnership between Saab and Aerostructures Assemblies India in 2019, will drive the market in Europe. Meanwhile, in Asia Pacific, skyrocketing demand for air travel in China and India will augment the regional demand for aero wing solutions.

𝐆𝐞𝐭 𝐚 𝐐𝐮𝐨𝐭𝐞 𝐍𝐨𝐰:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/aero-wing-market-105074

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞
𝐉𝐨𝐢𝐧𝐭 𝐕𝐞𝐧𝐭𝐮𝐫𝐞 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐏𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐧𝐭𝐬 𝐭𝐨 𝐀𝐧𝐢𝐦𝐚𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧
The most prominent strategy being adopted by key players in this aero wing market is that of joint ventures. The forging of such partnerships is enabling companies to rapidly expand their market footprint, whilst widening their portfolios. More importantly, these ventures are allowing companies to bolster their regional and international market presence.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
𝐈𝐧 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟑, Airbus, a prominent European aerospace and aircraft manufacturer, announced new agreements with several Indian suppliers to produce components for its commercial aircraft. Contracts have been finalized with Aequs, Dynamatic, Gardner, and Mahindra Aerospace to supply airframe and wing components for Airbus' A320neo, A330neo, and A350 programs.

𝐈𝐧 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟎𝟐𝟑, the U.S. Air Force revealed plans to invest in JetZero for the next phase of a prototype aircraft project featuring a blended wing body design. JetZero, a company dedicated to developing next-generation sustainable jet aircraft, aims to reduce fuel consumption with this innovative design.

𝐈𝐧 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟑, Tata Group entered into an agreement with Lockheed Martin to initiate the production of fighter wings at their joint venture, Tata Lockheed Martin Aerostructures Limited (TLMAL) in Hyderabad. This Memorandum of Understanding includes the production of 29 fighter wing ship sets, with options for additional sets and deliveries slated to begin in 2025.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:
Aircraft Line Maintenance Market
https://www.fortunebusinessinsights.com/aircraft-line-maintenance-market-102864

Aircraft Hangar Market
https://www.fortunebusinessinsights.com/aircraft-hangar-market-103514

Integrated Bridge System Market
https://www.fortunebusinessinsights.com/industry-reports/integrated-bridge-systems-market-101828

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This release was published on openPR.