This new report from Stratview Research analyses the Aircraft Aerostructures Market over the trend period from 2013 to 2018 and forecast period from 2019 to 2024. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aircraft Aerostructures Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aircraft Aerostructures Market is no different. Derived from the previous market scenario, the Aircraft Aerostructures Market is likely to reach US$ 82.9 billion in 2024 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
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Aircraft Aerostructures Market Share Analysis
Aircraft Aerostructures Market Share by Aircraft Type
The market is segmented based on the aircraft type as narrow-body aircraft, wide-body aircraft, very large-body aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Narrow-body aircraft is likely to remain the largest segment of the market during the forecast period. Increasing production rates of the key programs such as B737 and A320 family; market entry of new players such as COMAC and Irkut; and introduction of variants of existing and upcoming aircraft programs such as B737 max, A320neo and COMAC C919, are likely to create a strong demand for aerostructures in the narrow-body aircraft segment. Wide-body aircraft is likely to remain the second-largest segment during the forecast period and is expected to grow at an impressive rate during the forecast period.
Aircraft Aerostructures Market Share by Material Type
Based on the material type, the market is segmented as metal aerostructures and composite aerostructures. Metal aerostructure is likely to remain the larger segment, whereas composite aerostructure is likely to witness higher growth over the next five years. Airliners are aggressively seeking lightweight composite parts/structures that can contribute to their goal of achieving higher fuel efficiency and reducing emissions. This has resulted in an increased demand for composite aerostructures. A350XWB and B787 are the growth engines for composite aerostructures. Fuselage and wings of the A350XWB and B787 programs are the major applications made of composites instead of metals, unlike other aircraft.
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Aircraft Aerostructures Market Share by Application Type
Based on the application type, the market is segmented as fuselage, wings, empennages, nacelles & pylons, and others. The fuselage is projected to remain the largest application segment of the aircraft aerostructures market during the forecast. Fuselage is the principal component of an aircraft as it covers the main body section of an aircraft. A typical narrow-body aircraft's fuselage has length of about 33.6 meters and height of about 4 meters. Wings are likely to experience the highest growth in the market due to a gradual shift from metal to composite wings in the modern aircraft models. Upcoming aircraft program B777x is an example of such shift as it has composite wings instead of metal wings.
Based on the region, North America is projected to remain the largest market during the forecast period, driven by the USA. The country is the hub of the aerospace industry with the presence of several tier players and aircraft OEMs. Asia-Pacific is likely to depict the highest growth during the forecast period. The region is likely to remain the most eye-catching market in the foreseeable future, mainly driven by the upcoming commercial and regional aircraft, such as C919 and MRJ, and the opening of assembly plants in China by Boeing and Airbus, and the largest commercial aircraft fleet size.
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