“The aerostructure equipment market size was US$ 2.0 billion in 2023 and is likely to grow at a healthy CAGR of 3.1%, in the long run, to reach US$ 2.7 billion in 2032”.
Market Dynamics
Introduction
The aerostructure equipment market encompasses a wide range of components and systems essential for the construction, assembly, and maintenance of aircraft structures. These components, often referred to as aerostructures, encompass vital parts such as the wings, fuselage, and empennage. With the burgeoning demand for air travel and the continuous evolution of aircraft design and technology, the aerostructure equipment market plays a pivotal role in the aerospace industry's growth trajectory. As aviation continues to evolve, the aerostructure equipment market is expected to witness steady growth driven by increasing aircraft deliveries, retrofitting activities, and the demand for next-generation aircraft with enhanced performance and operational capabilities. The fast-growing commercial and military aircraft fleet globally goes hand in hand with the need for aerostructure equipment to make structural components like the fuselage, wings, empennage, and landing gear.
The ever-increasing pace of evolution in the materials, manufacturing process, and design technologies improves the operation, efficiency, and safety features thereby eventually leading to the need for advanced aerostructure equipment. Aftermarket aircraft components and retrofitting aircraft drive demand for aerostructure equipment used in the upkeep and maintenance of existing aircraft fleets.
Recent Acquisition:
In August 2018, REEL completed the acquisition of AEI (Advanced Engineering and Innovation), the Spanish firm that specializes in providing world-class drilling machines for the aerospace sector.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Equipment-Type Analysis
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Automated Production Systems (Fastening Systems and Composite Systems), Automated Assembly Systems (Stations/Lines and Conveyor Systems), Small Tools and Services.
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Automated production systems are expected to hold the major share of the aerostructure equipment market.
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Platform-Type Analysis
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Civil Aircraft and Military Aircraft
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Civil aircraft is anticipated to be the biggest demand generator of aerostructure equipment.
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Delivery-Type Analysis
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New Equipment, Retrofits, Operational Services.
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Retrofits are expected to dominate the market during the forecast period.
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Region Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World.
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North America is expected to maintain its reign over the forecast period.
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By Equipment Type
“Automated production systems are expected to remain dominant in the market during the forecast period”.
- The aerostructure equipment market is segmented into automated production systems (fastening systems and composite systems), automated assembly systems (stations/lines and conveyor systems), and small tools and services.
- Automated production systems specialize in developing automated systems and robotics that enhance manufacturing efficiency and productivity, reducing labor costs and cycle times.
- Automated production systems leverage advanced technologies, such as artificial intelligence (AI), machine learning, and digital automation, to offer cutting-edge solutions for aerospace manufacturing.
- Automated production systems ensure high levels of precision and quality control in aerostructure manufacturing, meeting stringent aerospace industry standards and requirements.
- The significant weight reduction and other advantages offered by composite materials make them a compelling choice for modern aerostructures. As technology and manufacturing processes continue to advance, composite systems are expected to play an even greater role in the future of aircraft design and construction.
By Platform Type
“Civil Aircraft is expected to remain the dominant and fastest-growing application in the market during the forecast period”.
- The market is segmented into civil aircraft and military aircraft.
- The increasing global demand for air travel, driven by economic growth, rising middle-class population, and expanding tourism, fuels the demand for new civil aircraft.
- Airlines are continuously expanding their fleets and replacing older aircraft with newer, more fuel-efficient models to meet passenger demand and reduce operating costs.
- The development of advanced materials, aerodynamic designs, and innovative manufacturing techniques enhances the performance, efficiency, and safety of civil aircraft, driving the need for advanced aerostructure equipment.
By Delivery Type
“Retrofits is expected to remain the dominant delivery type in the market during the forecast period”.
- The market is segmented into new equipment, retrofits, and operational services.
- Retrofitting offers a cost-effective solution compared to purchasing new aircraft, especially during economic downturns or periods of budget constraints.
- Many aircraft operators prefer retrofitting older aircraft with new technologies and components to extend their operational life and enhance performance, rather than investing in entirely new aircraft.
- Continuous advancements in avionics, propulsion systems, and cabin interiors drive the need for retrofitting to incorporate these improvements into existing aircraft fleets.
- Retrofitting helps aircraft operators comply with evolving safety and environmental regulations by incorporating updated systems and components.
Regional Analysis
“North America is expected to remain the largest market for aerostructure equipment whereas Asia-Pacific is expected to be the fastest-growing region during the forecast period”.
- In terms of countries, the USA is expected to remain the largest market for aerostructure equipment during the forecast period.
- The US aviation industry benefits from a combination of factors like its vast fleet, advanced aviation infrastructure that extends throughout the country, prepared maintenance facilities, and excellent logistic system that helps keep everything going the right way.
- Besides that, just like the massive number of aerostructure equipment manufacturers, the demand will experience an upsurge during the forecast period.
- Airlines across the Asia Pacific are adding more aircraft to their fleet to keep up with the passenger volume growth. This includes orders for new aircraft from both commercial airlines and military organizations which boost demand for aerostructure equipment for their upkeep or overhaul.
- In Asia Pacific countries, such as China and India, industrialization, urbanization, and infrastructure improvement are taking place at very fast rates. This is the reason why the aerospace sector creates new aircraft to compensate for the change in demand, thus triggering the growth of the aerostructure equipment market.
Key Players
The market is consolidated with the presence of over 30 players. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc.
Here is the list of the top players in the aerostructure equipment market: (Based on Dominance)
- Advanced Integration Technology (AIT)
- Broetje Automation GmbH
- Gemcor (Ascent Aerospace)
- Electrolmpact Incorporation
- KUKA Systems
- Janicki Industries
- MTorres Diseños Industriales
- Loxin
- Latesys
- Hyde Group
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. 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, Service 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 the existing and new players.
- Key success factors.
The aerostructure equipment market is segmented into the following categories.
Aerostructure Equipment Market, by Equipment Type
- Automated Production Systems
- (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- (Sub-Category: Fastening Systems and Composite Systems)
- Automated Assembly Systems
- (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- (Sub-Category: Stations/ Lines and Conveyor Systems)
- Small Tools (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerostructure Equipment Market, by Platform Type
- Civil Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerostructure Equipment Market, by Delivery Type
- New Equipment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Retrofits (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Operational Services (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerostructure Equipment Market, 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)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aerostructure equipment 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.
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: Service portfolio, geographical reach, regional presence, and strategic alliances
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