DETROIT, Feb. 28, 2019
DETROIT, Feb. 28, 2019 /PRNewswire/ -- Stratview Research announces the launch of a new research report on Aircraft Aerostructures Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large-Body Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by Material Type (Metal Aerostructures and Composite Aerostructure), by Application Type (Fuselage, Wings, Empennages, Nacelles & Pylons, and Others), by Sales Channel Type (OEMs, Tier-I, and Tier-II), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
This report, from Stratview Research, studies the aircraft aerostructures market over the trend period of 2013 to 2018 and forecast period of 2019 to 2024 with a high emphasis on the accurate market data, insights and competitive landscapes. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as to formulate the growth strategies.
Aircraft Aerostructures Market: Highlights
Aerostructures are the most vital parts of an aircraft and hold the largest share of more than 30% in the overall aircraft production value, followed by aero-engines, avionics, systems & electronics, and interiors. The growing wealth of emerging economies, which is triggering accessibility to air traffic, is a preeminent factor leading to a rise in passenger traffic or trips per capita across the globe. This, in turn, is leading to the demand for newer aircraft, which is pushing the global aerostructures market.
A trend that will most probably be impacting the competitive dynamics of the market, is an expected shift in the manufacturing of aerostructures from tier players to OEMs. The year 2018 witnessed many high-value M&A activities in the industry. Major tier players acquired other leading players with an aim to capture a larger chunk of the market. However, this led to the announcement made by Boeing and Airbus to integrate backward by making crucial components including aerostructures for their upcoming programs. Also, major tier-I players generally enjoy higher margins than OEMs, another factor pushing OEMs to increasingly produce crucial aircraft parts in-house.
As per Stratview Research, the global aircraft aerostructures market is projected to grow at a healthy rate over the next five years to reach US$ 82.9 billion in 2024. Increasing commercial and regional aircraft deliveries, increasing production rates of the next-generation aircraft (B787 and A350XWB) programs, increasing penetration of composites in aircraft structures, and advancements in technologies are some major factors that are underpinning the growth of the market.
The research's findings suggest that 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 and is expected to grow at an impressive rate during the forecast period.
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 reduced 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.
Based on the application type, the market is segmented as fuselage, wings, empennages, nacelles & pylons, and others. Fuselage is projected to remain the largest application segment of the market during the forecast period as it is the principal component of an aircraft covering the main body section. However, wings are likely to experience the highest growth in the market due to a gradual shift from metal to composite wings in the newer aircraft models. Upcoming aircraft program B777x is an example of such shift as it has composite wings instead of metal wings.
As per the study, North America is projected to remain the largest market during the forecast period. The USA is the growth engine of the North American aircraft aerostructures market. The country is the hub of aerospace industry with the presence of several tier players, aeroengine OEMs, and aircraft OEMs. Whereas, Asia-Pacific is likely to depict the highest growth during the same period, 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.
The key aerostructure manufacturing companies are Spirit AeroSystems Inc., GKN PLC, UTC Aerospace Systems, Premium Aerotech GmbH, Triumph Group, Mitsubishi Aircraft Corporation, STELIA Aerospace S.A.S., Safran SA, Leonardo SPA, Kawasaki Heavy Industries Ltd, FACC AG, Korean Aerospace Industries, Ltd., and Subaru Corporation. Development of lightweight structures, speeding up of production rates, mergers & acquisitions, and collaboration with OEMs for the joint development of aerostructures are some of the strategies adopted by the major players in order to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the aerostructures market in the global aerospace industry and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. The following are the five ways in which the market is segmented:
Aircraft Aerostructures Market, By Aircraft Type
Aircraft Aerostructures Market, By Material Type
Aircraft Aerostructures Market, By Application Type
Aircraft Aerostructures Market, By Sales Channel Type
Aircraft Aerostructures Market, By Region
Stratview Research has number of high value market reports in the global aerospace & defense industry. Please refer to the following link to browse through our reports:
Some of our other premium market reports in the aerospace & defense industry:
Global Aircraft Nacelle Components Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, Business Jet, and Military Aircraft), by Component Type (Inlet Cowl, Fan Cowl, Thrust Reverser, Exhaust Components, and Others), by Material Type (Composites, Nickel Alloy, Titanium, and Others), by Process Type (Hand Layup, Resin Infusion, AFP/ATL, Forming, and Others) and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.
Aircraft Fairings Market by Aircraft Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large-Body Aircraft, Regional Aircraft, and General Aviation), by Application Type (Wing-to-Body Fairing, Flap Support Fairings, Engine Cowls, Vertical Fin Fairings, and Others), by Material Type (Composite Fairings and Metal Fairings), by Manufacturing Process Type (Prepreg Layup, Stamping, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024.
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