Aircraft Slat Systems Market Report

Market Insights

"The global 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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Slats are aerodynamic devices located on the leading edge of the aircraft’s wings that aim 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.

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.

Segment Analysis

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Aircraft Trends

"Commercial aircraft segment accounted for the largest market share."

The market is segmented into commercial aircraft, regional aircraft, military aircraft, and general aviation. Despite the gargantuan decline in 2020, commercial aircraft is expected to remain the largest segment of the market, and it held a revenue share of more than 65% in 2020. 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 shortly.

Material Trends

"Aluminum segment accounted for the largest market share."

The market is segmented into aluminum and others. Aluminum is projected to be the leading segment of the market, and it held a revenue share of more than 80% in 2020. Slats are located on the leading edge of the wing, which exposes it to 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.

Component Trends

"Slat segment accounted for the largest market share."

The market is segmented as slats and fixed leading edge (slat supports and racks & pinions). Slat is expected to remain the most dominant segment as well as the fastest-growing component type for the market, and it will hold a revenue share of more than 65% in 2021. Slats are extendable high-lift devices on the leading edge of the wings, which help the airplane take off and land at lower speeds. Some modern aircraft are gradually using automatic slats and powered-controlled slats.

Regional Insights

"North America accounted for the largest market share."

North America is expected to remain the largest region in the market, and it held a revenue share of more than 50% in 2020. 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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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

Note: The above list does not necessarily include all the top players of the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report 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.

What Deliverables Will You Get in this Report?

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

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.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft slat systems market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both 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.

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