Apr 5, 2022   SOURCE: BusinessWire

The Worldwide Aerostructures Industry is Expected to Reach $75 Billion by 2026 - ResearchAndMarkets.com

The "Global Aerostructures Market by Material (Composites, Alloys & Superalloys and Metals), Component, End User (OEM, Aftermarket), Platform (Fixed Wing, Rotary Wing, UAVs, Advanced Air Mobility) & Region (North America, Europe, APAC, RoW) - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The market for Aerostructures is estimated to be USD 49.0 billion in 2021 and is projected to reach USD 75.0 billion by 2026, at a CAGR of 9.0% during the forecast period.

Increasing need in new aircraft, new designs and adoption of composites are fueling the fuselage market which is projected to be the highest in the Aerostructures market during the forecast period

Based on component, the fuselage segment is estimated to lead the market during the forecast period, with a share of 39% in 2021. Fuselage controls the position and stabilize the surface with regards to lifting surfaces and ensures maneuverability and stability of the aircraft. Fuselage is an aircraft's main body section. It holds crew, passengers, or cargo. In single-engine aircraft, it will usually contain an engine is mounted on a pylon attached to the fuselage, which in turn is used as a floating hull.

The composites segment is projected to witness the highest CAGR during the forecast period

Based on material, the composites segment is projected to be the highest CAGR rate for the Aerostructures market during the forecast period. Composite materials have played a major role in weight reduction, and hence they are used for both structural applications and components for all spacecraft and aircraft such as fighter planes, space shuttle and passenger airliners. The development of next-generation composite materials with lightweight and high-temperature resistance will help in designing high-performance, economical aircrafts.

The OEM segment is projected to witness the highest CAGR during the forecast period

Based on the end user, the OEM segment is projected to grow at the highest CAGR rate for the Aerostructures market during the forecast period. Technological advancements and the need for better connectivity and communication in the aviation industry are additional factors influencing the growth of the Aerostructures market.

The UAV segment is projected to witness the highest CAGR during the forecast period

Based on aircraft type, the UAV segment is projected to grow at the highest CAGR rate for the Aerostructures market during the forecast period. The increasing applicability of UAVs in the defense sector has boosted the Aerostructures market. UAVs have less demanding flight profiles and environmental standard requirements than manned aircraft, and hence, the antennas used in UAVs are smaller and have lower mass as compared to those used in manned aircraft.

The North American market is projected to contribute the largest share from 2021 to 2025

The key factor responsible for North America leading the Aerostructures market is the high demand for new aircraft in the region. The growing demand for aircraft for commercial applications and their increasing utility in the defense sector to carry out transport and surveillance activities are additional factors influencing the growth of the North American Aerostructures market.

Market Dynamics

Drivers

  • Growing Demand for Air Travel Around the World
  • Increasing Demand for Outsourced Aerostructure Manufacturing
  • Rise in Adoption of Composite Aerostructures

Restraints

  • Recyclability Issues of Composite Materials

Opportunities

  • Adoption of 3D Printing for Aerostructure Manufacturing
  • Use of Morphing Technologies for Wings
  • Increasing Adoption of Hybrid-Electric and Evtol Aircraft
  • Decline in Cost of Composite Materials

Challenges

  • High Cost of Transportation and Hurdles in Supply Chain
  • Uncertainties in Failure Prediction of Composites

Companies Mentioned

  • Aernnova Aerospace S.A
  • Aerospace Industrial Development Corporation (Aidc)
  • Airbus Se
  • Arconic
  • Collins Aerospace
  • Cyient
  • Daher
  • Elbit Systems Ltd.
  • Facc Ag
  • Gkn Aerospace
  • Iai (Israel Aerospace Industries)
  • Kawasaki Heavy Industries, Ltd.
  • Korea Aerospace Industries
  • Latecoere
  • Leonardo S.P.A
  • Magellan Aerospace Corporation
  • Mhi Canada Aerospace, Inc.
  • Products Offered
  • Ruag Group
  • Saab Ab
  • Sabca Nv
  • Safran Sa
  • Sonaca Group
  • Spirit Aerosystems, Inc.
  • St Engineering
  • The Boeing Company
  • The Nordam Group LLC
  • Triumph Group
  • Turkish Aerospace Industries, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/iso09t.