Aerostructures Market Size, Share, Emerging Audience and Forecast to 2024

Market Highlights

Global Aerostructures Market is expected to witness phenomenal growth during the forecast period due to an increase in demand for aircraft to meet the growing air passenger traffic in North America, Europe, and Asia-Pacific. Moreover, improvements in aircraft design are expected to drive the growth of the global aerostructures market. Aerostructures are critical aspects of aircraft design subjected to extreme weather conditions that could cause structural fatigue. Furthermore, advancements in material sciences have enabled the use of composites in aerostructures, thereby, improving design and functionality.

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Key Players

The key players in the Global Aerostructures Market are AAR Corp. (US), Bombardier Inc. (Canada), Cyient Ltd (India), Elbit Systems Ltd (Israel), GKN Aerospace (UK), Leonardo SpA (Italy), Ruag Group (Switzerland), Saab AB (Sweden), Spirit Aerosystems, Inc. (US), Stelia Aerospace Group (France), Triumph Group, Inc. (US), and UTC Aerospace Systems (US).

Market Segment

Global Aerostructures Market has been segmented on the basis of component, material, platform, end use, and region.

By material, the global Aerostructures Market has been classified as composite, alloys, and metals. The metals segment was the largest segment in 2018. The composite segment is estimated to be the fastest growing segment during the review period. The growth of the composite segment is attributed to various OEMs investing in the development of lightweight materials.

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By platform, the global aerostructures market has been divided into rotor wing and fixed wing. The fixed wing aircraft segment was the larger segment in 2018 and is expected to be the fastest growing segment during the review period. The growth of fixed wing aircraft segment to the growing demand for UAVs in the military.

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