Aerostructures Market Growth, Size, Share, Trends, and Forecast 2032

Aerostructures Market Insights

According to the report published by Zion Market Research, the global Aerostructures Market size was valued at USD 61.42 Billion in 2023 and is predicted to reach USD 111.02 Billion by the end of 2032. The market is expected to grow with a CAGR of 6.92% during the forecast period. The report analyzes the global Aerostructures Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Aerostructures Market industry.

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Global Aerostructures Market: Overview

Aerostructures are the essential components of an airplane or body frame of some other aircraft. Some of these components include the flight control deck, fuselage, nose, empennage, and wings. To withstand changing aerodynamic forces and extreme weather conditions, aerostructures are designed especially with different composites, superalloys, alloys, and metals depending on the performance and their properties.

Global Aerostructures Market: Growth Factors

The global aerostructures market is growing at a significant rate. Factors such as an increase in commercial aircraft, a rise in military expenditures, and expanding defense & aerospace industry are propelling the growth of the global aerostructures market. Aircraft are designed for civil, military, and research purposes. The aircraft designed specifically for civilian use is for transcontinental shipment, short distance traveling, intercontinental transport, and cargo. With the rise in tourism, business tours, as well as increasing rate of abroad studies, the demand for small passenger aircraft and larger aircraft is been surging significantly. Also, cargo services are increasing at a rapid rate.

Further, an increase in the development of military aircraft for the transportation of paratroopers and tanks is adding up to the rise in demand for aircraft. Hence, to meet such a tremendous rise in demand for aircraft, manufacturers are predominantly outsourcing the manufacturing of aerostructures. All these factors are majorly contributing to the growth of the global market. Moreover, the rise in the economy in developing countries resulting in heavy investments in the development of performance-driven and lightweight aerostructures is also equally contributing to the growth of the market. Furthermore, an increase in research and development activities to offer aerostructures with exact weight, performance & reliability, and growing use of robots in large enterprises may open advantageous opportunities for the growth of the global aerostructures market over the forecast period. However, growing concerns related to the recycling of composite materials may restrain the growth of the market.

The outbreak of Covid-19 across the world has negatively impacted the growth of the global aerostructures market. The strict lockdown and restriction on movement enforced by the government have affected the demand for the aerostructures due to restrictions on traveling and sealing of the country boundaries. In addition to this, the manufacturers of the aerostructures were also affected owing to disruption in the supply chain and restrictions on personal movement. However, in the second half of the year 2020, the market began to gain traction but the rise of the second & third waves in some of the countries is likely to slow down the growth of the market.

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Global Aerostructures Market: Segmentation

The global aerostructures market is classified based on aircraft, material, component, end-user, and region. Based on the aircraft, the global aerostructures market is categorized into the helicopter, business, commercial, military, and regional. Based on the material, the global market is bifurcated into alloys & superalloys, composite, and metal. The component sector comprises wings, fuselage, nacelles & pylons, empennage, doors, and others. Based on the end-user, the market is split into retrofit and line-fit.

Aerostructures Market: Report Scope

Global Aerostructures Market: Regional Analysis

Geographically, North America is estimated to hold the largest share in terms of revenue in the global aerostructures market during the forecast period. Factors such as the presence of aerostructures manufacturers and growing demand for the aerostructures from the military sector are the major factors that are spurring the growth of the market in this region. In addition to this, the rapidly growing aircraft industry is also propelling the growth of the market in North America. On the other hand, Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period.

This is attributable to the growing demand for commercial aircraft and growing investment in the development of the military infrastructure. The market in Europe is also estimated to grow at a significant rate owing to the use of advanced technologies for the manufacture of aerostructures and the presence of a highly-equipped defense system.

Global Aerostructures Market: Competitive Players

Some of the prominent players operating in the global aerostructures market include:

• Spirit AeroSystems
• Saab AB
• Cyient Ltd.
• Leonardo S.P.A.
• STELIA Aerospace Group
• Collin Aerospace
• Elbit Systems Ltd.
• Mahindra Aerostructures Pvt. Ltd.
• AAR Corporation
• GKN Aerospace
• UTC Aerospace Systems among others.

The Global Aerostructures Market is segmented as follows:

By Aircraft 

• the helicopter
• business
• commercial 
• military 
• regional

By Material 

• alloys & superalloys
• composite
• metal

By Component 

• wings
• fuselage
• nacelles & pylons 
• empennage
• doors, and others 

By End-user 

• retrofit
• line-fit

Global Aerostructures Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.