Aerostructures Market 2020 : Top Countries Data, Market Size with Global Demand...

Aerostructures Market 2020 : Top Countries Data, Market Size with Global Demand Analysis, Manufacturers and Business Opportunities Outlook 2027

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Sep 14, 2020 (The Expresswire) —
The global aerostructures market will benefit from the increasing demand for improved and reliable aircraft structures across the world. According to a report published by Fortune Business Insights, titled “Aerostructures Market Size, Share and Industry Analysis, By Component (Wings, Nose, Fuselage, Nacelle, Empennage and Pylon and Others), By Material (Metals, Composites and Alloys), By Platform (Fixed-wing aircraft (Commercial Aircraft, Military Aircraft, and UAV’s) and Rotary-wing Aircraft (Commercial Aircraft, Military Aircraft, and UAV’s)), and Regional Forecast, 2015-2026,” the market was valued at USD 56.96 Billion in 2018. The market is projected to reach USD 78.12 Billion by 2026, at a CAGR of 4.07% during the forecast period.

Aerostructures are components of an aircraft frame. Aerostructures are designed to obtain higher aircraft efficacies, smooth flight travels, high weight handling capacities, and a few other requirements. As a result, advanced technologies are incorporated with a view to enhancing aircraft structures. The report provides insights into the latest trends in the aerostructures market. Major product highlights have been highlighted along with their impact on the global market. The report identifies leading companies in the market and discusses various business strategies that these companies have adopted in recent years. For a detailed understanding, the report provides a classification of the market based on aspects such as product types, components, platforms, and regional demographics. Besides, the report provides a summary of several factors that have constituted an increase in the global aerostructures market size in recent years.

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Market Drivers and Restraints:

“Company Collaborations to Emerge in Favor of Market Growth”

Aerostructure assemblies are a complex procedure, considering there is literally no room for error in this process. Accuracy and precision of the highest order are required for aircraft assemblies. The sensitivity involved in this method has led to a high emphasis on efficient aerostructure parts. Such complex procedures call for the involvement of several companies, each of which is engaged in manufacturing different parts. As a result, aerostructure companies are focused on assigning contracts and tasks to other companies who are already well versed with the operations. This opens up a huge potential for small scale as well as medium scale operators and wholesalers. In Feb 2019, Aerostructures Assemblies Pvt. Ltd. bagged a contract from Saab Aerostructures for manufacturing structural assembly for over-wing doors (OVDs) on the Airbus program. The increasing number of company agreements will influence the growth of the market in the forthcoming years.

“Increasing Demand for Fixed-wing Aircraft to Enable Market Growth”

The demand for fixed-wing aircraft has risen drastically in recent years. Fixed-wing aircraft are used in commercial aircraft, jets, UAVs, and business aircraft. The increasing adoption of fixed-wing aircraft will create a huge potential for the companies operating in the global aerostructures market. Besides the fixed-wing type, the market derives growth from a few of the other types, such as rotary wing aircraft. Fortune Business Insights has predicted that recent advancements in aerostructures and variations in product offerings will aid the growth of the global aerostructures market in the forthcoming years.

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Segmentation:

“Growing demand for fixed-wing aircraft drives the market during the forecast period”

Based on platform type, the market segmented into fixed-wing aircraft and rotary-wing aircraft. The fixed-wing segment is projected to show significant growth during the forecast period. The fixed-wing aircraft covers commercial aircraft, business jets, general aviation aircraft, and fixed-wing UAVs, the growth of the fixed-wing aircraft owing to the rising demand for fixed-wing military UAVs such as HALE and MALE. Boeing Phantom Eye, RQ-3A DarkStar, and Airbus Zephyr are some of the important HALE UAVs platforms considered under the UAVs segment, these UAVs used in defense services for surveillance purpose. Increasing demand for military UAVs in the defense sector drives the market during the forecast period.

Regional Analysis:

The Asia Pacific is analyzed to remain the fastest-growing region, followed by North America. Countries such as China, India, Japan, and the rest of the Asia Pacific are expected to drive the market in the region. Asia-Pacific is set to be the highest growing market during the forecast period. An increasing number of aircraft design and construction programs such as Boeing program as well as China – Boeing finishing center established in China under a joint venture with Commercial Aircraft Corp. of China (COMAC). Thus the increasing commercial aircraft manufacturing in the country is driving the market in the Asia Pacific.

A few of the prominent companies that are operating in the global aerostructures market are:

  • Aar Corp.

  • Bombardier Inc.

  • Cyient Ltd.

  • GKN Aerospace

  • Leonardo S.P.A.

  • Ruag Group

  • Saab AB

  • Spirit Aerosystems, Inc.

  • Stelia Aerospace Group

  • Triumph Group, Inc.

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Industry Development:

  • In 2019, Aerostructures Assemblies India (AAI) signed a contract with Saab Aerostructures to manufacture structural assembly for the Over Wing Doors for the Airbus A321neo program.

  • In 2019, CPI Aero signed a contract with US Air Force with a valuation of US $ 65.7 Billion for supplying T-38 Aircraft Modification Kits

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About Us:

Fortune Business Insights™offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Aerostructures Market 2020 : Top Countries Data, Market Size with Global Demand Analysis, Manufacturers and Business Opportunities Outlook 2027

COMTEX_371281826/2598/2020-09-14T16:57:48

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