Aircraft Slat Systems Market is Forecasted to Reach US$ 0.6 billion in 2026, Says Stratview Research

The global aircraft slat systems market is projected to witness a growth rate of 7.9% annually from 2021 to 2026, with an anticipated size of US$ 0.6 billion by 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft slat systems market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2026: US$ 0.6 billion
Growth (CAGR): 7.9% during 2021-2026
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 4
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft Slat Systems Market:
The global aircraft slat systems market is segmented based on aircraft type, component type, material type, and region.

Based on aircraft type - The market is segmented into commercial aircraft, regional aircraft, military aircraft, and general aviation. Despite the gargantuan decline in 2020, commercial aircraft is expected to remain the largest segment of the market, and it held a revenue share of more than 65% in 2020. The vast pile of aircraft order backlogs of Boeing and Airbus along with the expected entry of upcoming aircraft programs such as C919, B777X, and MC-21, are some major factors that are likely to strengthen the segment's market growth shortly.

Based on the material type - The market is segmented into aluminum and others. Aluminum is projected to be the leading segment of the market, and it held a revenue share of more than 80% in 2020. Slats are located on the leading edge of the wing, which exposes it to rain, dirt, hail, etc., which might cause erosion to the slat and its support structures. Aluminum's high resistance to corrosion, high strength-to-weight ratio, and low cost make it the most preferred choice for slat systems.

Based on the component type - The market is segmented as slats and fixed leading edge (slat supports and racks & pinions). Slat is expected to remain the most dominant segment as well as the fastest-growing component type for the market, and it will hold a revenue share of more than 65% in 2021. Slats are extendable high-lift devices on the leading edge of the wings, which help the airplane take off and land at lower speeds. Some modern aircraft are gradually using automatic slats and powered-controlled slats.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/2238/aircraft-slat-systems-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest region in the market, and it held a revenue share of more than 50% in 2020. This growth outlook is majorly attributed to the following-
- The USA is the growth engine of the region's market, as it is the manufacturing powerhouse of the aerospace industry, creating a humongous demand for aircraft slat systems in the country.
- Asia-Pacific is likely to mark the fastest recovery during the forecast period, majorly due to the long-term growth opportunities, particularly in China, India, and Japan.

Aircraft Slat Systems Market Drivers:

Some of the key drivers listed in the report are given below.
- Rising air travel demand, growing emphasis on fuel efficiency, and advancements in aerodynamics.
- Increased aircraft production, modernization of existing fleets, and focus on enhancing flight safety and performance also boost market growth.

Top Companies in the Aircraft Slat Systems Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Sonaca Group
• Spirit AeroSystems, Inc.
• Triumph Group Inc.
• Korea Aerospace Industries, Ltd.
• ASCO
• Turkish Aerospace
• GKN Aerospace (A Melrose Company)
• Kawasaki Heavy Industries
• Premium AEROTEC
• Kencoa Aerospace Corporation

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aircraft Slat Systems Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.