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    Aircraft Struts and Rods Market Report

    Aircraft Struts and Rods Market Report
    Report code - SR2700 Published On : Aug,2023 No. of Pages: 110
    Aircraft Struts and Rods Market Size, Share, Trend, Forecast, Competitive Analysis, and Gr See more...

    Market Insights

    It is anticipated that the market for aircraft struts and rods to grow at a healthy CAGR of 8.1% over the long term, reaching US$ 2.1 billion in 2028.

    Struts and rods are essential components used in aircraft to provide structural support, stability, and functionality. They play crucial roles in maintaining the integrity of the aircraft's structure, distributing loads, and enabling various systems to operate effectively. Both struts and rods are critical for ensuring the safe and efficient operation of an aircraft. Shock absorbing and load bearing are the key aspects of an aircraft strut, whereas; rods are typically used to hold open and control various doors/opening of aircraft, such as access panel doors, thrust reverser doors, engine fan cowl doors, radome, flight control, and APU doors. Aerodynamics, structural integrity, flight safety, and other functional parameters are some of the major factors that need to be considered when designing rods and struts for aircraft.    

    The aircraft industry was significantly impacted by the coronavirus outbreak. Aircraft struts and rods, a sizeable market, witnessed a colossal decline (-34%+ in 2020) amid the pandemic, quite aligned with the decline in aircraft production. The industry was expecting a gradual recovery in the year 2021 with the ramp-up in consumer confidence; however, due to unprecedented changes, the industry got encircled with several challenges, such as financial crises, and supply-chain disruptions. This, along with the temporary suspension of B787 aircraft deliveries, has thrashed market hope for the commencement of recovery in 2021. However, the market bounced back to its path of recovery from 2022 onwards. An expected increase in production rates of the key aircraft programs, a recovery in air passenger traffic, increasing demand for aircraft cabin upgrades, advancements in the aircraft industry, such as the integration of several aircraft components, technological advancements, and increasing penetration of composite content in the aircraft; are some of the key driving factors for the aircraft struts and rods market in the coming years. Apart from the organic growth of the aircraft industry, the constant focus of the struts and rod manufacturers on optimizing weight, cost, durability, reliability, and performance ratios, is fueling extraordinary growth in the market. 

    Over the eons, the aircraft struts and rods market has been witnessing gradual consolidation with several bigger aerospace companies and various smaller companies. For instance, Precision Castparts Corp. acquired SKF Aerospace St-Vallier Rods Division (Kalistrut Aerospace) in 2013 and SPS Technologies (Avibank) in 2003. TransDigm Group, Inc. acquired Aviation Technologies Inc. (Avtech Tyee), McKechnie Aerospace Holdings Inc. (Hartwell), and MarathonNorco. However, it has been found that there have been distinct market leaders in different categories (landing gear strut, engine strut, floor beam strut, control rods, etc.) of the market.

    Some Recent Market JVs and Acquisitions:

    In August 2021, Latécoère announced the acquisition of Belgium-based Technical Airborne Components (TAC) from TransDigm Group. TAC is the European designer and manufacturer of rods and struts for the aerospace industry. 

    Segments' Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Aircraft-Type Analysis

    Narrow-Body Aircraft, Wide-Body Aircraft, Regional Aircraft, Military Aircraft, General Aviation, and Helicopter

    Narrow-Body Aircraft is anticipated to remain the biggest demand generator for struts and rods in the foreseeable future.

    Product-Type Analysis

    Struts and Rods

    Struts have held a predominant position as the product type within the market over the years.

    Mechanism-Type Analysis

    Telescopic, Fixed, and Folding

    Telescopic to remain the forerunner mechanism type in the market over the next five years.

    Material-Type

    Metal and Composite

    Metallic struts and rods are expected to remain dominant in the market, whereas composite rods and struts are anticipated to demonstrate rapid growth during the forecast period.

    Application- Type Analysis

    Landing Gear, Fuselage, Nacelle/Engine, and Others

    Landing gear takes the lead as the most dominant application type in the market, owing to the high cost of shock-absorbing struts.

    End-User Type Analysis

    OE and Aftermarket

    OE stands out as the prevailing end-user type in the market.

    Regional Analysis

    North America, Europe, Asia Pacific, and The Rest of the World

    North America is projected to retain its position as the largest market, whereas Asia-Pacific is likely to post the most rapid growth over the next five years.

     

    Aircraft Type

    The aircraft struts and rods market is segmented into narrow-body aircraft, wide-body aircraft, regional aircraft, military aircraft, general aviation, and helicopters. Narrow-body aircraft is expected to remain the biggest demand generator for struts and rods during the forecast period. Narrow-body and wide-body aircraft are likely to continue as the primary demand generators in the struts and rods market. Huge growth is anticipated to be supported by the projected plans of the OEMs to increase production rates of key aircraft programs like the B737, A320 family, B787, and A350XWB; new players entering the market, like COMAC; upcoming variants of the currently best-selling aircraft program the B777X; and rising demand for lightweight, cost-effective, and durable struts and rods.

    Product Type

    The market is segmented into struts and rods. Struts are expected to remain the dominant product type in the market during the forecast period, owing to their wider applications and high cost. Struts are primarily used to distribute loads between two locations and also act as shock absorbers for landing gear applications.

    Mechanism Type

    The market is segmented into telescopic, fixed, and folding. It is anticipated that the telescopic mechanism will continue to dominate the market during the forecast period as it can extend with ease and control. For actions like landing gear retraction and extension, where accuracy and fluid motion are extremely important, the telescopic mechanism is crucial.

    Application Type

    The market is segmented into landing gear, fuselage, nacelle/engine, and others. Landing gear is anticipated to remain the dominant application type in the market during the forecast period. The weight of the entire aircraft can only be supported by the landing gear of the aircraft during take-off, landing, and when the aircraft remains stationary on the ground; struts are made to handle substantial weights and transmit the loads efficiently, ensuring the structural integrity of the aircraft. Also, struts are equipped with shock-absorbing mechanisms to cushion the impact of landing on the ground.

    End-User Type

    The market is segmented into OE and aftermarket. OE is expected to remain the dominant end-user type in the market during the forecast period, owing to the expected increase in production rates of key aircraft programs led by an expected recovery in air passenger traffic, and the longer life span of struts and rods.

    Material Type

    The market is segmented into metal and composite. Metallic rods and struts are projected to maintain their dominance in the market during the forecast period, whereas composite is likely to be the faster-growing material type as it reduces the overall weight of the aircraft, and weight reduction contributes to improved fuel efficiency, increased payload capacity, and enhanced performance. Some of the prominent players in the market are focused on developing high-performance struts and rods with optimized weight, cost, durability, and reliability while integrating aircraft components.

    Regional Analysis

    North America is expected to remain the largest market for aircraft struts and rods during the forecast period, mainly driven by the USA, the manufacturing hub of the aircraft industry. The region is home to global aerospace giants like Boeing and Airbus. In the next five years, Asia-Pacific is anticipated to grow at the fastest pace, led by the rising demand for commercial aircraft from emerging economies like China and India. Furthermore, the establishment of assembly plants by Boeing in the area is boosting regional demand. The increasing development of indigenous aircraft in the region is another factor boosting demand for struts and rods in the region.

    The aircraft struts and rods market is segmented into the following categories:

    By Aircraft Type

    • Narrow-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Wide-Body Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Product Type

    • Struts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Rods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Mechanism Type

    • Telescopic (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fixed (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Folding (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Material Type

    • Metal Struts and Rods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Composite Struts and Rods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Application Type

    • Landing Gear (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Fuselage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Nacelle/Engine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    By Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
    • Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

    Key Players

    The market is highly populated, with the presence of several regional and global players. Most of the major tier players and system manufacturers in the aircraft industry produce struts and rods in-house. The following are the key players in the aircraft struts and rods market:

    • Safran S.A.
    • Spirit AeroSystems Holdings
    • Liebherr-Aerospace & Transportation
    • Heroux-Devtek Inc.
    • Precision Castparts Corp.
    • Groupe Latécoère
    • TransDigm Group, Inc.
    • Collins Aerospace
    • Triumph Group, Inc.
    • Albany Engineered Composites Ltd.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft struts and rods market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.

    The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate 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 market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    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 market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

    • 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.
    • COVID-19 impact and its recovery curve
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for existing and new players
    • Key success factors

    Customization Options

    With this detailed report, 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 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

    Frequently Asked Questions (FAQ)

    The aircraft struts and rods market is estimated to grow at a CAGR of 8.1% by 2028, driven by an expected rise in production rates of key aircraft programs to support the rising air passenger traffic, upcoming aircraft programs, such as COMAC C919 and B777X, and rigorous efforts by the prominent players to develop high-performance and lightweight struts and rods.

    Safran S.A., Spirit AeroSystems Holdings, Liebherr-Aerospace & Transportation, Heroux-Devtek Inc., Precision Castparts Corp., Groupe Latcore, TransDigm Group, Inc., Collins Aerospace, Triumph Group, Inc., and Albany Engineered Composites Ltd., are the leading players in the aircraft struts and rods market.

    North America is estimated to remain the dominant region in the aircraft struts and rods market in the foreseeable future as the USA is the manufacturing hub of the aircraft industry.

    Asia-Pacific is anticipated to remain the fastest-growing region for aircraft struts and rods in the foreseeable future owing to the rising demand for commercial aircraft from emerging economies, like China and India.

    Landing gear is the dominant application type in the market, as it is equipped with struts incorporating shock-absorbing mechanisms to cushion the impact of landing.

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