Aerostructures Market  Size, 2020 Industry Share and Global Demand |
2027 Forecast by Fortune Business Insights™

The global ''aerostructures companies'' is expected to
gain momentum by reaching USD 74.54 billion, while exhibiting a CAGR of 7.50%
between 2020 and 2027. This is attributable to the increasing demand of UAVs
and the growing adoption of advanced manufacturing technologies such as 3D
printing to develop advanced aerostructures by the companies globally. This
information is published by Fortune Business Insights, in its latest report,
titled, “Aerostructures Market Size, Share & COVID-19 Impact
Analysis, By Component (Wings, Nose, Fuselage, Nacelle and Pylon, Empennage,
and Others), By Material (Alloys, Composite, and Metals), By Platform
(Fixed-wing Aircraft (Commercial Aircraft, Military Aircraft, Business Jets,
General Aviation Aircraft, and UAVs) and Rotary Wing Aircraft (Commercial
& Civil Helicopters, Military Helicopters, and UAVs), By End-Use
(Aftermarket and OEM), and Regional Forecasts, 2020-2027.” The
report further mentions that the market stood at USD 62.40 billion in 2019.

Reduction in UAV Deliveries amid
COVID-19 to Hamper Growth Prospects

The on-going global pandemic has
resulted in a complete halt in manufacturing operations across several
industries. Owing to this, the aerospace industry is experiencing a massive
reduction in orders for the procurement of UAVs and other aircraft. This has
further led to disruptions across the supply chain that has hampered the sales
of the OEMs as there is a remarkable decrease in the demand for aircraft
components globally. However, supportive government initiatives and the growing
focus to upgrade defense services by the nations are likely to boost the growth
of the market in the near future.

What does the Report Include?

The market report includes quantitative
and qualitative analysis of several factors such as the key drivers and
restraints that will impact growth. Additionally, the report provides insights
into the regional analysis that covers different regions, which are
contributing to the growth of the market. It includes the competitive landscape
that involves leading companies and the adoption of strategies by them to
introduce new products, announce partnerships, and collaboration that will
contribute to the growth of the market between 2020 and 2027. Moreover, the
research analyst has adopted several research methodologies such as PESTEL and
SWOT analysis to extract information about the current trends and industry
developments that will drive the market growth in the forthcoming years.

List of the Leading Companies Profiled
in the Global Aerostructures Market are:

• AAR Corporation (Illinois, the U.S.)


• Bombardier Inc. (Montreal, Canada)


• Cyient Ltd. (Hyderabad, India)


• GKN plc (Redditch, the U.K.)


• Leonardo S.P.A. (Italy)


• RUAG International Holding AG (Bern, Switzerland)


• Saab AB (Sweden)


• Spirit AeroSystems, Inc. (Wichita, the U.S.)


• STELIA Aerospace Group (France)


• Triumph Group, Inc. (Berwyn, the U.S.)


• Collins Aerospace, a Raytheon Technologies company (Charlotte, the
  U.S.)


• Elbit Systems Ltd. (Haifa, Israel)


• Other Players

Aerostructures are an important
component of the aircraft’s airframe that includes wings, fuselage, and flight
control surfaces. They are manufactured using metallic and composite material
based on the requirement. They are designed to protect the aircraft from
adverse environmental factors and ensure its well-being, while improving
stability and fuel-efficiency.

DRIVING FACTORS

Growing Demand for UAVs to Propel
Growth

The growing focus on upgrading the
defense services by the nations across the globe is driving the demand for
UAVs. These unmanned vehicles are widely being adopted owing to the rising
border disputes and conflicts. According to National Geographic, there are over
150 active border disputes across regions such as Asia-Pacific, Africa, Europe,
and North America. The increasing adoption of UAVs is propelling the demand for
advanced aerostructures components to ensure strict vigilance and security
along the borders. This, along with technological advancement in manufacturing
is expected to bode well for the growth of the global aerostructures market
during the forecast period.

SEGMENTATION

Composites Segment Held 35.0% MARKET
Share in 2019

The composite segment, based on
materials, is expected to grow faster than other materials owing to the
increasing demand for aerostructures components for general aviation, business
jets, commercial aircraft, and UAVs, among other. The segment held a market
share of about 35.0% in 2019.  

REGIONAL INSIGHTS

Among all the regions, North America is
expected to dominate and hold the highest position in the global aerostructures
market during the forecast period. This is attributable to the presence of
established manufacturers that are adopting advanced manufacturing technologies
such as additive manufacturing to develop innovative aerostructures in the
region. The region stood at USD 24.40 billion in 2019.

On the other hand, Europe is expected
to hold the second position in the market owing to the growing demand for
composite materials from manufacturing facilities such as ATR and Airbus SE in
the region between 2020 and 2027.

COMPETITIVE LANDSCAPE

Major Companies Focus on R&D
Activities to Expand Their Product Portfolios

The global aerostructures market is
consolidated by the presence of major companies such as SAAB AB, Stelia
Aerospace Group, and others. These companies are focusing on investing in
R&D activities to develop advanced aerostructures products to expand their
product portfolios and further boost sales revenue. The other key players are
adopting strategies such as partnership, the introduction of new products, and
collaboration to maintain market stronghold that will contribute to the growth
of the market during the forecast period.

Industry Development:

August 2020 – Veelo Technologies introduces an enhanced version
of its composite aerostructures adopted by the aerospace industry. According to
the company, the technology, VeeloVEIL is extremely light, along with being
conductive metalized nonwoven that improves the survivability of the aircraft.

Browse Detailed Summary of Research
Report with TOC: https://www.fortunebusinessinsights.com/industry-reports/aerostructures-market-101663

Detailed Table of Content:

• Introduction




• Research Scope


• Market Segmentation


• Research Methodology


• Definitions and Assumptions




• Executive Summary


• Market Dynamics




• Market Drivers


• Market Restraints


• Market Opportunities




• Key Insights




• Key Industry Developments –Mergers, Acquisitions and Partnerships


• Latest technological Advancements


• Porters Five Forces Analysis


• Supply Chain Analysis




• Qualitative Insights




• Impact of COVID-19 on the Aerostructures Market


• Supply Chain Challenges


• Steps Taken by the Industry/Government/Companies to Overcome the
  Impact


• Key Developments in the Industry in Response to COVID-19


• Potential Opportunities due to COVID-19 Outbreak




• Global Aerostructures Market Analysis, Insights and Forecast,
  2016-2027




• Key Findings / Summary


• Market Analysis, Insights and Forecast – By Component




• Wings


• Nose


• Fuselage


• Nacelle and Pylon


• Empennage


• Others




• Market Analysis, Insights and Forecast – By Material




• Alloys


• Metal


• Composite




• Market Analysis, Insights and Forecast – By Platform




• Fixed-wing aircraft




•  Commercial Aircraft


•  Military Aircraft


•  Business Jets Aircraft


•  General Aviation Aircraft


•  UAV’s




• Rotary-wing aircraft




•  Commercial & Civil Helicopters


•  Military Helicopters


• UAV’s






• Market Analysis, Insights and Forecast – By End-Use




• OEM


• Aftermarket




• Market Analysis, Insights and Forecast – By Region




• North America


• Europe


• Asia Pacific


• Rest of the world

TOC Continued…! 

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