Aircraft Aerostructures Market Report

Market Insights

"The global aircraft aerostructures market is projected to grow at a healthy rate over the next five years to reach USD 82.9 billion in 2024."

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Aerostructures are the most vital parts of an aircraft. The demand and growth of the aerostructures market are highly governed by commercial aircraft deliveries. Advancements in design, materials, and processes have assisted the industry to grow faster, meeting airlines’ needs. Aerostructure holds the largest share of more than 30% in the overall aircraft production value, followed by aero-engines, avionics, systems & electronics, and interiors. The growing wealth of emerging economies, which is triggering accessibility to air traffic, is a preeminent factor leading to a rise in passenger traffic or trips per capita across the globe. This, in turn, is leading to the demand for newer aircraft, which is pushing the global aerostructures market.

Market Dynamics

Market Drivers

The key factors propelling the growth of the market are listed below.?

Market Trend

A trend that will most probably be impacting the competitive dynamics of the market, is the expected shift in the manufacturing of aerostructures from tier players to OEMs. The year 2018 witnessed a large number of high-value M&A activities in the industry. Major tier players acquired other tier players intending to capture a larger chunk of the market. However, this led to the announcement made by Boeing and Airbus to increasingly backward-integrate themselves by making crucial components including aerostructures for their upcoming programs.

Recent market consolidation at the tier-I level due to a large number of mergers & acquisitions among tier players has compelled both airframers to go back with their former strategy of making crucial parts in-house. This consolidation at the tier level may curtail the bargaining power of OEMs to some extent. Also, the major tier-I players generally enjoy higher margins than OEMs, which is another factor pushing OEMs to increasingly produce crucial aircraft parts in-house. Boeing’s move of making wings for its upcoming aircraft program B777x in-house is one of the major examples of such a shift that is taking place in the market.

Segments' Analysis

Aircraft Trends

"The narrow-body aircraft segment accounted for the largest market share."

The market is segmented based on the aircraft type as narrow-body aircraft, wide-body aircraft, very large-body aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Narrow-body aircraft is likely to remain the largest segment of the market during the forecast period. Increasing production rates of the key programs such as B737 and A320 family; market entry of new players such as COMAC and Irkut; and introduction of variants of existing and upcoming aircraft programs such as B737 max, A320neo and COMAC C919, are likely to create a strong demand for aerostructures in the narrow-body aircraft segment. Wide-body aircraft is likely to remain the second-largest segment during the forecast period and is expected to grow at an impressive rate during the forecast period.

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Material Trends

"The metal aerostructures segment accounted for the largest market share."

The market is segmented into metal aerostructures and composite aerostructures. Metal aerostructure is likely to remain the larger segment, whereas composite aerostructure is likely to witness higher growth over the next five years. Airliners are aggressively seeking lightweight composite parts/structures that can contribute to their goal of achieving higher fuel efficiency and reducing emissions. This has resulted in an increased demand for composite aerostructures. A350XWB and B787 are the growth engines for composite aerostructures. The fuselage and wings of the A350XWB and B787 programs are the major applications made of composites instead of metals, unlike other aircraft.

Application Trends

"The fuselage segment accounted for the largest market share."

The market is segmented as fuselage, wings, empennages, nacelles & pylons, and others. The fuselage is projected to remain the largest application segment of the market during the forecast. The fuselage is the principal component of an aircraft as it covers the main body section of an aircraft. A typical narrow-body aircraft's fuselage has a length of about 33.6 meters and a height of about 4 meters. Wings are likely to experience the highest growth in the aircraft aerostructures market due to a gradual shift from metal to composite wings in modern aircraft models. The upcoming aircraft program B777x is an example of such a shift as it has composite wings instead of metal wings.

Regional Insights

"North America accounted for the largest market share."

North America is projected to remain the largest market during the forecast period, driven by the USA. The country is the hub of the aerospace industry with the presence of several tier players and aircraft OEMs. Asia-Pacific is likely to have the highest growth during the forecast period. The region is likely to remain the most eye-catching market in the foreseeable future, mainly driven by the upcoming commercial and regional aircraft, such as C919 and MRJ, the opening of assembly plants in China by Boeing and Airbus, and the largest commercial aircraft fleet size.

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Key Players

The supply chain of this market comprises raw material suppliers, tier players, OEMs, distributors, and airlines.

The following are the key players in the aircraft aerostructures market (arranged alphabetically).

• FACC AG
• GKN PLC
• Kawasaki Heavy Industries Ltd
• Korean Aerospace Industries, Ltd.
• Leonardo SPA
• Mitsubishi Aircraft Corporation
• Premium Aerotech GmbH
• Safran SA
• Spirit AeroSystems Inc.
• STELIA Aerospace S.A.S.
• Subaru Corporation.
• Triumph Group
• UTC Aerospace Systems

Development of lightweight structures, speeding up of production rates, mergers & acquisitions, and collaborations with OEMs for the joint development of aerostructures are some of the strategies adopted by the major players in order to gain a competitive edge in the market.

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

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report, from Stratview Research, studies the aircraft aerostructures market over the trend period of 2013 to 2018 and the forecast period of 2019 to 2024 with a high emphasis on accurate market data, insights, and competitive landscapes. 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 the market participants as well as investors in the identification of low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

What Deliverables Will You Get in this Report?

The aircraft aerostructures market is segmented in the following ways.

By Aircraft Type

• Narrow-Body Aircraft
• Wide-Body Aircraft
• Very Large-Body
• Regional Aircraft
• General Aviation
• Helicopter
• Military Aircraft
• UAV

 By Material Type

• Metal Aerostructures
• Composite Aerostructures

 By Application Type

• Fuselage
• Wings
• Empennage
• Nacelles & Pylons
• Others

 By Sales Channel Type

• OEMs
• Tier-I Sales
• Tier-II Sales

 By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: France, Germany, the UK, Spain, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft aerostructures 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 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 1000 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

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 3)
• SWOT analysis of key players (up to 3)

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.