Aero Structure Equipment Market – Global Industry Analysis and Forecast (2023-2029) by Type, Application and Region

Aero Structure Equipment Market was valued at US$ 0.83 Bn. in 2022. Global Aero Structure Equipment Market size is expected to grow at a CAGR of 7% through the forecast period.
Aero Structure Equipment Market Overview:
Aero structure equipment includes flight control surfaces, fuselage, & wings, and is part of an aircraft's airframe. Aero structure equipment is not only used by airlines; military planes and helicopters also require it to be operational all of the time. On a universal testing machine, tests such as tensile, flexure, compression, fatigue, & impact are performed on an individual or whole aircraft structure. The commercial aviation market has seen significant growth in the deployment of commercial aircraft as the number of passengers travelling each year has increased. Recent breakthroughs in nanotechnology have benefited these companies considerably, as these materials enable aircraft to reduce their weight and, as a result, their fuel consumption. The high demand for alloys like aluminium in aircraft wings & other components is projected to propel the aero structure equipment market to significant growth during the forecast period.

To know about the Research Methodology :- Request Free Sample Report
Aero Structure Equipment Market Dynamics:
Market Dynamics:

Airbus predicts that when air traffic returns to pre-crisis levels, demand for air traffic & related services will continue to grow. During the COVID period, market growth slowed, but now passenger traffic has proven its resilience & is set to restart a 3.9 % annual growth rate. According to the MMR report study, the need for new aircraft will move from fleet growth to faster replacement of older. Over 39,000 new passenger & freighter aircraft need to be delivered over the next 20 years, with approximately 15,250 of these being replacements for older, less fuel-efficient versions. The aero structure market is forecast to rise in tandem with the growth of air transport. Aero structures are being built & developed with new materials to reduce the weight of the airplane by a large amount, lowering fuel consumption & carbon emissions.

Market Opportunities:

The B787 & A350's industrial production has been a tremendous benefit to the aero structure equipment market. Furthermore, countries like China are likely to stimulate strong demand. China's civil airline industry would require 7630 additional aircraft during the next 20 years. Furthermore, the new manufacturing plant for these aircraft is highly automated, which would result in significant long-term cost reductions. This is also expected to stimulate the development of novel materials that are compatible with the requirements of the new assembly technique. In November, Airbus China's national development & reform commission signed an agreement with Boeing to build new single-aisle & wide-body aircraft in China. As demand for single-aisle aircraft rises, the new body craft will provide considerable prospects, as well as a new potential market for low-cost airlines. Furthermore, the various bodies employed on these aircraft will open up new prospects for innovation & profit for companies in the aero structure equipment market.

Market Challenges:

Due to many characteristics such as high specific strength & stiffness, as well as material anisotropy that may be employed to tune structural qualities, advanced composite materials are widely used in major aerospace constructions. These composites' material properties are not uniform & might change at random inside massive structures like wings & fuselages. As a result, due to the complexity of failure mechanisms & susceptibility to manufacturing errors, the remaining useful life of the composite rotor & airframe structures is unknown.

Covid-19 Impact on Market:

The aviation market was the hardest damaged by the coronavirus (COVID-19) outbreak when compared to other markets. This is due to COVID-19 pandemic containment rules, which resulted in the global passenger airline market being shut down. Cargo aircraft, on the other hand, was only marginally affected by the drop in worldwide industrial production. The loss of air passenger revenue owing to the coronavirus outbreak was $314 Bn in the year 2020. Because of the intensive focus on COVID-19 spread containment measures in March & April 2020, it was the worst period for airlines. The worldwide aviation business appears to be slowly recovering. It's still unknown how long markets will take to recover in the post-COVID environment.
Aero Structure Equipment Market Segment Analysis:
Based on Component Type, the Aero Structure Equipment Market is segmented into Wings, Flight control Surface, Undercarriage, & others. A pilot can change & regulate the aircraft's flight attitude using aircraft flight control surfaces, which are aerodynamic devices. The development of an effective set of flight control surfaces was a significant step forward in aircraft development. Early attempts at fixed-wing aircraft design succeeded in creating enough lift to get the plane off the ground, but once in the air, the plane proved uncontrolled, with often tragic outcomes. The stable flight was made possible by the invention of effective flight controls.

Based on the Application, the Aero Structure Equipment Market is segmented into Commercial, Military, and Helicopters. In the year 2021, the commercial segment dominated the market. The growing demand for commercial aircraft from emerging economies such as China & India explains the dominance. From 2020 to 2040, India will require 2375 fixed-wing commercial aircraft. In addition, the MMR report study expected a 19.86 % increase in aviation passenger traffic in India. The military segment is expected to have a higher CAGR by 2027. This increase can be ascribed to China's and India's increasing defense budgets for advanced jet procurement. Composite aero wings are fitted to sophisticated combat jets. Increased fighter jet acquisition has increased demand for aircraft wings.
Aero Structure Equipment Market Regional Insights:
APAC region is expected to witness significant growth at a CAGR of 7% during the forecast period. Due to rising defense & military budgets, increasing demand for advanced military aircraft, growing demand for commercial aircraft due to rising numbers of people choosing air travel, & steady progress in the aerospace industry in the region.

The North America region dominated the market with 36 % share in the year 2021. The presence of major aero structure manufacturers, a growing number of aircraft orders & deliveries, rising demand for commercial and military aircraft, and the rapid growth of the aerospace and defense sector in the region are all contributing to the region's success. While the number of aircraft produced increases & demand is fueled by various global elements, the presence of leading aircraft. West European MRO market is expected to be worth roughly $13.8 Bn in the year 2021. Similarly, the aviation engine MRO business will see a downturn in 2021, with market size of roughly USD 29.5 Bn expected this year. Regardless, the aviation market is likely to rebound quickly. By the end of 2031, the engine market is expected to be worth roughly $56.6 Bn.

The objective of the report is to present a comprehensive analysis of the global Aero Structure Equipment Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Aero Structure Equipment Market dynamic, structure by analyzing the market segments and projecting the Aero Structure Equipment Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Aero Structure Equipment Market make the report investor’s guide.
Aero Structure Equipment Market Scope: Inquiry Before Buying



Aero Structure Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 0.83 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 1.34 Bn.


 Segments Covered:
by Component Type
• Wings
• Flight Control Surface
• Undercarriage
• Others


by Application
• Commercial
• Military
• Helicopter



Aero Structure Equipment Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Aero Structure Equipment Market, Key Players are:
• KUKA System
• Electroimpact
• Mtorres Disenos Industriels
• LISI Aerospace
• Triumph Group
• Broetje Automation
• Gemcor
• Loxin
• Electroimpact Inc
• Sener Group
• Reel
• Mitsubishi Electric Corp
• Spirit Aerosystem Holding

Frequently Asked Questions:

1] What segments are covered in the Global Aero Structure Equipment Market report?
Ans. The segments covered in the Aero Structure Equipment Market report are based on Component Type and application.

2] Which region is expected to hold the highest share in the Global Aero Structure Equipment Market?
Ans. The North America region is expected to hold the highest share in the Aero Structure Equipment Market.

3] What is the market size of the Global Aero Structure Equipment Market by 2029?
Ans. The market size of the Aero Structure Equipment Market by 2029 is expected to reach US$ 1.34 Bn.

4] What is the forecast period for the Global Aero Structure Equipment Market?
Ans. The forecast period for the Aero Structure Equipment Market is 2023-2029.

5] What was the market size of the Global Aero Structure Equipment Market in 2022?
Ans. The market size of the Aero Structure Equipment Market in 2022 was valued at US$ 0.83 Bn.