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What key factors are powering the surge in the aerostructures market right now?

There has been significant expansion of the aerostructures market in the preceding years. The projections are that it will expand from $60.06 billion in 2024 to $65.07 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. The increase during the historical period was due to factors such as heightened demand for commercial aircraft, defense sector expansion, an aged aircraft fleet, the surge in space exploration activities, and rising demand for air cargo.

How fast Is the aerostructures market expected to grow, and what’s its future value?

The market size for aerostructures is predicted to witness robust expansion in the forthcoming years. The market is estimated to reach $87.99 billion by 2029, with a compound annual growth rate (CAGR) of 7.8%. Factors influencing this growth during the predicted period include the development of new markets, the modernization of airline fleets, regulatory standards, market globalization, and a rise in air traffic and passengers. The forecast period will also see key trends such as digital twins and smart manufacturing, the integration of sensors and connectivity, a modular and scalable design approach, a focus on sustainability and eco-friendly materials, as well as 3D printing and additive manufacturing.

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What are the leading drivers of growth in the aerostructures market?

The surge in production of commercial aircraft is set to catalyze the expansion of the aerostructures market throughout the projected timeframe. Commercial aircraft, which are designed for transporting passengers and cargo on a regular schedule between chosen airports, will significantly contribute to the growth. The accelerated manufacturing of these aircraft will likely enhance the usage of aerostructures, as they are crucial to the production and assembly processes of aircraft. In January 2024, Airbus, an aircraft manufacturing company based in the Netherlands, reported a delivery of 735 commercial aircraft units in 2023, reflecting an 11% growth from 2022. Therefore, it is anticipated that the heightened commercial aircraft production will continue to elevate the demand in the aerostructures market for the duration of the projected period.

What are the key segments defining the aerostructures market?

The aerostructures market covered in this report is segmented –

1) By Component: Fuselage, Empennage, Flight Control Surfaces, Wings, Nose, Nacelle and Pylon, Doors and Skid

2) By Material: Composites, Alloys and Super Alloys, Metals

3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility

4) By End Use: OEM, After market

Subsegments:

1) By Fuselage: Forward Fuselage, Mid Fuselage, Aft Fuselage

2) By Empennage: Horizontal Stabilizer, Vertical Stabilizer, Rudder and Elevator Assemblies

3) By Flight Control Surfaces: Ailerons, Flaps, Slats, Spoilers

4) By Wings: Wing Structure, Wing Tips, Wing Box

5) By Nose: Nose Cone, Cockpit Canopy, Radar Dome

6) By Nacelle and Pylon: Engine Nacelle, Pylon Assembly

7) By Doors and Skid: Passenger Doors, Cargo Doors, Emergency Exits, Landing Gear Skids

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Who are the key players steering the development of the aerostructures market?

Major companies operating in the aerostructures market include Spirit AeroSystems, Saab AB, Triumph Group Inc., Leonardo SpA, Elbit Systems Ltd., Airbus S.A.S., The Boeing Company, Lockheed Martin Corporation, Northrop Grumman Corporation, BAE Systems plc, Raytheon Technologies Corporation, Safran S.A., Bombardier Inc., Embraer S.A., General Dynamics Corporation, Kawasaki Heavy Industries Ltd., Mitsubishi Heavy Industries Ltd., GKN Aerospace Ltd., FACC AG, RUAG Group, Collins Aerospace Ltd., Dassault Aviation S.A., Meggitt PLC, RUAG International, RUAG Space, Premium AEROTEC GmbH, Belge de Constructions Aéronautiques SA, Aero Vodochody AEROSPACE a.s., Singapore Technologies Engineering Ltd., Aviation Industry Corporation of China

What emerging trends are influencing the growth of the aerostructures market?

To fortify their market standing and boost efficiency, notable firms in the aerospace sector are reorganizing and enlarging their operations. For example, Airbus established Airbus Atlantic, a fully-owned subsidiary, in January 2022, asserting itself as a significant force in the aerostructures industry. The newly formed entity integrates the expertise, resources, and operations across Airbus’s principal sites in Nantes and Montoir-de-Bretagne, important locations in western France. Furthermore, it includes the worldwide operations of Stelia Aerospace, an Airbus subsidiary and a France-based aerospace company, unifying these strengths to bolster its foothold in the aerostructures sector. The company manages a supply chain with over 500 direct suppliers for flying products and in excess of 2,000 indirect suppliers for general procurement products.

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Which regions are most influential in expanding the aerostructures market?

North America was the largest region in the aerostructures market in 2024, and it is also expected to be the fastest-growing region in the aerostructures market share during the forecast period. The regions covered in the aerostructures market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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