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Rapid Growth In Commercial Aircraft Production Drives The Aerostructures Market: Strengthening the Growth Trajectory of the Aerostructures Market
Aerostructures Market
What Is the Expected CAGR for the Aerostructures Market Through 2025?
In recent times, the aerostructures market has seen significant growth. The market, which is projected to expand from $60.06 billion in 2024 to $65.07 billion in 2025, exhibits a compound annual growth rate (CAGR) of 8.3%. Factors contributing to growth in the past years include an escalated demand for commercial aircraft, an expanding defense sector, an aging aircraft fleet, a surge in space exploration activities, and a rise in air cargo requirements.
What's the Projected Size of the Global Aerostructures Market by 2029?
The aerostructures market is predicted to experience substantial expansion in the coming years, with a forecasted size of $87.99 billion by 2029, and a compound annual growth rate (CAGR) of 7.8%. Factors contributing to this growth during the forecast period include the rise of emerging markets, modernization of airline fleets, regulatory standards, and market globalization. Additionally, increased air traffic and passengers are also significant contributors. The forecast period is also likely to see key trends such as the adoption of digital twins and smart manufacturing, sensor and connectivity integration, scalable and modular design, sustainability and use of eco-friendly materials, as well as the deployment of 3D printing and additive manufacturing.
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Top Growth Drivers in the Aerostructures Industry: What's Accelerating the Market?
The expansion in the production of commercial planes is expected to foster the aerostructures market's growth throughout the forecast duration. Commercial aircraft, which ferry passengers and cargo on a prearranged itinerary between certain airports, are triggering an increase in the use of aerostructures. Being a crucial part of aircraft construction and assembly, the escalated production of commercial aircraft is likely to boost aerostructures' usage. For instance, Airbus, a Dutch aircraft maker, reported in January 2024 that it had delivered 735 commercial aircraft in the previous year (2023), an 11% increase from 2022. Consequently, the surge in commercial aircraft production is anticipated to fuel the aerostructures market's demand in the forecast period.
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What Trends Will Shape the Aerostructures Market Through 2029 and Beyond?
In a bid to consolidate their market position and improve operations efficiency, major enterprises in the aerospace industry are embarking on restructuring and expansion initiatives. For example, Airbus launched a fully-owned subsidiary, Airbus Atlantic, in January 2022, thereby increasing its prominence in the aerostructures sector. This latest addition integrates the assets, expertise, and procedures of key Airbus locations in Nantes and Montoir-de-Bretagne, both consequential sites in western France. It also integrates the international operations of Stelia Aerospace, an Airbus subsidiary based in France, unifying these capabilities to heighten its standing in the aerostructures field. The firm is in charge of a supply chain that includes over 500 main suppliers for airborne products and over 2,000 ancillary suppliers for common procurement products.
What Are the Main Segments in the Aerostructures Market?
The aerostructures market covered in this report is segmented -
1) By Component: Fuselage, Empennage, Flight Control Surfaces, Wings, Nose, Nacelle and Pylon, Doors and Skid
2) By Material: Composites, Alloys and Super Alloys, Metals
3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility
4) By End Use: OEM, After market
Subsegments:
1) By Fuselage: Forward Fuselage, Mid Fuselage, Aft Fuselage
2) By Empennage: Horizontal Stabilizer, Vertical Stabilizer, Rudder and Elevator Assemblies
3) By Flight Control Surfaces: Ailerons, Flaps, Slats, Spoilers
4) By Wings: Wing Structure, Wing Tips, Wing Box
5) By Nose: Nose Cone, Cockpit Canopy, Radar Dome
6) By Nacelle and Pylon: Engine Nacelle, Pylon Assembly
7) By Doors and Skid: Passenger Doors, Cargo Doors, Emergency Exits, Landing Gear Skids
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Which Top Companies are Driving Growth in the Aerostructures Market?
Major companies operating in the aerostructures market include Spirit AeroSystems, Saab AB, Triumph Group Inc., Leonardo SpA, Elbit Systems Ltd., Airbus S.A.S., The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems plc, Raytheon Technologies Corporation, Safran S.A., Bombardier Inc., Embraer S.A., General Dynamics Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., GKN Aerospace Ltd., FACC AG, RUAG Group, Collins Aerospace Ltd., Dassault Aviation S.A., Meggitt PLC, RUAG International, RUAG Space, Premium AEROTEC GmbH, Belge de Constructions Aéronautiques SA, Aero Vodochody AEROSPACE a.s., Singapore Technologies Engineering Ltd., Aviation Industry Corporation of China
Which Regions Will Dominate the Aerostructures Market Through 2029?
North America was the largest region in the aerostructures market in 2024, and it is also expected to be the fastest-growing region in the aerostructures market share during the forecast period. The regions covered in the aerostructures market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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