The demand for aerostructures is expected to grow at a moderate pace of 7.3%, from USD 66.1 billion in 2024 to USD 133.4 billion by 2034. The development of the commercial aviation industry, growing demand for air travel, and improvements in aircraft technology are the main drivers of the rise.
Modern aerostructures are highly sought after because of their increased performance and efficiency, particularly in developing countries. The industry is growing due to the emphasis on lightweight and fuel-efficient designs.
Introducing advanced manufacturing processes has resulted in a notable development trajectory for the aerostructure and aviation sector. Additive manufacturing, or 3D printing, is one such method. By utilizing this approach, manufacturers may construct aerostructures more quickly and tailor them to meet specific requirements.
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The recent trend in the industry is the growing use of sophisticated lightweight materials such as alloys and composites. These materials lower the overall weight of the airplane while also improving fuel economy. This weight loss results in faster flight times, improved agility, and fewer airline operating expenses.
Furthermore, the industry is actively developing novel lightweight materials for aerostructures and utilizing advanced manufacturing technologies for their production. These efforts aim to improve aircraft performance and reduce their environmental impact. The industry is moving toward a more eco-friendly aviation sector using sustainable materials and manufacturing processes.
Utilizing lightweight materials, innovative material development, and enhanced production processes are expected to propel the aerostructure and aviation industry’s rapid expansion. These initiatives improve aircraft performance and help the global aerostructure industry have a more sustainable future.
“The rise of commercial aviation, demand for air travel, and technical improvements have all contributed to the growth of the aerostructure industry. Production has changed due to additive manufacturing, advanced materials, and sustainable techniques. International collaborations and industry leaders working together accelerate development.” says Lead Analyst at FMI
Key Takeaways from the Aerostructure Market
- The United States aerostructure industry is projected to experience a CAGR of 5% through 2034.
- Japan aerostructure market is expected to demonstrate a rapid CAGR of 8% through 2034.
- The United Kingdom aerostructure industry is anticipated to see an average CAGR of 4% through 2034.
- South Korean aerostructure industry showcases a promising CAGR of 3% through 2034.
- China aerostructure market is expected to display a moderate CAGR of 9% through 2034.
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Competitive Landscape of the Aerostructure Market
Through strategic efforts and innovations, companies are creating the future of the aerostructure sector. Aerospace firms lead the way in material, manufacturing process, and aerodynamics developments through research and development facilities.
Cooperation between government agencies, academic institutions, and business leaders creates a vibrant ecosystem that speeds up technical advancements. Modern production techniques are transformed by investments in cutting-edge technologies like digitalization, artificial intelligence, and additive manufacturing, which increase productivity and personalization.
Expanding markets and exchanging expertise are made possible by international cooperation. Sustainable practices, which emphasize environmentally friendly materials and procedures in line with global environmental goals, are becoming increasingly popular.
Education and training facilities help to ensure a skilled labor force and a supply of goods for the sector. These organizations are propelling the aerostructure industry toward a future characterized by creativity, sustainability, and cooperation in the aerostructure industry.
Key Companies in the Aerostructure Market
- AAR Corp
- Triumph Group Inc
- Airbus SE
- The Boeing Company
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Bombardier Inc.
- Embraer S.A.
- Spirit AeroSystems Holdings, Inc.
- Saab AB
Recent Developments in the Aerostructure Market
- In January 2024, Mahindra Aerostructures Pvt Ltd and Airbus Aerostructures GmbH renewed their agreement to produce and supply parts for all Airbus commercial aircraft types, including the A320 series.
- Pilatus plans to take over the RUAG’s Swiss aerostructures division in January 2024 as part of the state-owned entity’s continuing ‘unbundling.’ Pilatus, situated in Stans, also aims to purchase all of RUAG Aerostructures’ machinery as part of the government-brokered transaction for an unknown price.
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Key Segments
By Platform:
- Fixed Wing
- Commercial
- Military
- Business Jet
- General Aviation Aircraft
- Rotary Wing
- Commercial Helicopters
- Military Helicopters
- UAVs
By Component:
- Wings
- Nose
- Fuselage
- Nacella and Pylon
- Empennage
- Others
By Material:
- Alloys
- Composite
- Metals
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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