The aircraft strut market is projected to grow at a moderate CAGR of 6.5% from 2022 to 2032, reaching an estimated value of USD 8.5 billion by 2032. In 2022, the market was valued at USD 3.9 billion.
Aircraft struts play a crucial role in the structural assembly of aircraft. With the increasing frequency of global air traffic and the higher number of flights each day, demand for aircraft struts is on the rise.
The market is expected to benefit from a growing number of new aircraft orders in both developed and emerging economies. Additionally, the expansion of low-cost carriers driven by high air traffic is anticipated to further boost market growth.
Technological advancements, such as the development of oleo-pneumatic struts, which serve as effective shock absorbers, are also contributing to market expansion. These struts, commonly used in large cargo aircraft, enhance landing capabilities on rough fields and protect the airframe from impact during taxing, thereby supporting the growth of the aircraft strut market.
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Key Takeaways from the Aircraft Strut Market Report:
- The high demand for commercial aircraft in the U.S. and Canada, stoked by destination expansion plans, and aircraft fleet modernization activities, is anticipated to boost the North American aircraft strut market share in the upcoming years.
- High air traffic in developing countries such as India and China, attributed to the rising disposable income and availability of discounts on online ticket booking platforms, is projected to augment the regional market.
- New manufacturing units around the Asia Pacific region, with the German companies setting up their production units in Asian nations, are set to impact the global aircraft strut market.
Competitive Landscape:
Market competitors are focusing on innovations related to multiple metal use while increasing the core strength of the shock absorber. This enhances the strength value in the market. The global market is highly fragmented with the presence of the above-mentioned key players. The majority of these players are striving to expand their portfolios by launching cutting-edge products.
Leading Key Players:
- Birken Manufacturing
- Circor Aerospace, Inc.
- Malabar Inc.
- PCC Aerostructures
- Bansbach Easylift of North America
- Crompton Technology Group Ltd., QRP, Inc.
- New Brow Aerospace
- Wicks Aircraft Supply
- Fiber Dynamics, Inc.
- Robart Mfg
- Lefiell Manufacturing Co.
Recent Developments:
- Birken Manufacturing has introduced its new set of aircraft landing gears involving enjet aero bloomfield that works as a brilliant shock absorber.
- Completing 60 years of service, Circor Aerospace Has added its new products and services related to the aviation, revising its aircraft strut, making it stronger.
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Aircraft Strut Market Segmentation:
By Aircraft Body Type:
- Small Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Aircraft
By Operation:
- Hydraulic
- Pneumatic
By Position:
- Front Wheels
- Rear Wheels
By Product Type:
- Rigid Aircraft Struts
- Spring Steel Aircraft Struts
- Shock Struts
- Bungee Cords
By End User:
- Commercial
- Military
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
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