Aircraft Slat Systems Market Growth Analysis

Market Insights

The Aircraft Slat Systems Market is likely to rebound at a promising CAGR of 7.9% during 2021-2026 to reach a value of US$ 0.6 Billion by 2026.

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What is Aircraft Slat?

Slats are aerodynamic devices located on the leading edge of the aircraft’s wings whose purpose is to increase lift during low-speed operations such as takeoff, initial climb, approach, and landing. They are used while landing or performing maneuvers to minimize drag. The aircraft slat system comprises slats and a support system. Slats are supported by slat support, racks, and pinions.

Key Players

The supply chain of this market comprises several nodes including raw material suppliers, salt support system manufacturers, slat manufacturers, tier players, aircraft OEMs, and airline companies. The following are the key players in the aircraft slat systems market:

• Sonaca Group
• Spirit AeroSystems, Inc.
• Triumph Group Inc.
• Korea Aerospace Industries, Ltd.
• ASCO
• Turkish Aerospace
• GKN Aerospace (A Melrose Company)
• Kawasaki Heavy Industries
• Premium AEROTEC
• Kencoa Aerospace Corporation

Segment Analysis

By Aircraft Type

The market is segmented as commercial aircraft, regional aircraft, military aircraft, and general aviation. Despite the garguantan decline in 2020, commercial aircraft is expected to remain the largest segment of the market during the forecast period. The vast pile of aircraft order backlogs of Boeing and Airbus along with the expected entry of upcoming aircraft programs such as, C919, B777X, and MC-21, are some major factors that are likely to strengthen the segment’s market growth in the near future.

By Material Type

The market is segmented as aluminum and others. Aluminum is projected to be the leading segment of the market during the forecast period. Slats are located on the leading edge of the wing which exposes to the rain, dirt, hail, etc, which might cause erosion to the slat and its support structures. Aluminum’s high resistance to corrosion, high strength-to-weight ratio, and low cost make it the most preferred choice for slat systems.

By Component Type

The market is segmented as slats and fixed leading edge (slat supports and racks & pinions). Slat is expected to remain the most dominant segment in the market and is also expected to experience faster growth during the forecast period. Slats are extendable high-lift devices on the leading edge of the wings, which helps the airplane to take off and land at lower speeds. Some modern aircraft are gradually using automatic slats and powered-controlled slats.

Regional Analysis

North America is expected to remain the largest region in the market during the forecast period. The USA is the growth engine of the region’s market, as it is the manufacturing powerhouse of the aerospace industry, creating a humongous demand for aircraft slat systems in the country. Asia-Pacific is likely to mark the fastest recovery during the forecast period, majorly due to the long-term growth opportunities particularly in China, India, and Japan.

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Market Segmentation

This report studies the market covering a period of 12 years of trend, forecast and it provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

 The market is segmented into the following categories. 

By Aircraft Type

• Commercial Aircraft
• Regional Aircraft
• Military Aircraft
• General Aviation

By Component Type

• Slats
• Fixed Leading Edge

By Material Type

• Aluminum
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

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Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

COVID-19 Impact

The aircraft industry was booming till 2018. The year 2019 proved to be challenging mainly due to the grounding of B737Max aircraft across regions. The sudden outburst of COVID-19 further deepened the market challenges, causing unimaginable disruption and losses for the stakeholders. The market depends on the organic growth of the aircraft industry and follows the same trajectory.

The market experienced a colossal decline of -31.8% in 2020 amid the pandemic. However, the long-term market outlook is high yielding because it is backed by the industry’s buoyant nature and strong fundamentals.

Report Features

This report provides market intelligence in the most comprehensive way and the structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
The following are the key features:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.