Aerostructures Market to Reach USD 109.9 Billion by 2032 Driven by Advancements in Aerospace Manufacturing Technologies

The rise in demand for Aerostructures-based components continues to accelerate due to advancements in lightweight materials, and the increasing focus on fuel-efficient aircraft.

The Aerostructures Market is likely to grow mainly because of the increase in demand for aircraft having lightweight and fuel-efficient mechanisms. Aerostructures constitute some of the key structural elements within the aerospace domain. They comprise the basic support structure of an aircraft, which includes delicate parts such as fuselage, wings, and nacelles. The rapid growth of international air passengers due to phenomenal rapid growth in commercial aviation is the result of the faster production of aircraft by manufacturers. This encourages companies heavily to invest in research and development to integrate advanced composite materials such as carbon fiber-reinforced polymers, which offer low weights without sacrificing strength. This way, it increases efficiency in fuel usage and promotes less emission into the environment as a solution to the concerns for environmental degradation. Thus, growth in the defense sector, coupled with increasing procurement of military aircraft and UAVs, also supports growth in the aerostructures market. Additionally, low-cost carrier expansion is advancing more than ever primarily in developing regions, increases aircraft fleet modernization, and creates a need for aerostructures. Emerging latest technologies such as additive manufacturing, or 3D printing, are transforming the way aerostructures can be manufactured by reducing unit costs and lead times toward improved design flexibility. Major players are aggressively building strategic alliances and acquisitions that support their portfolios and help build strong market positions in this extremely volatile marketplace.

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Key Players:

• Airbus SE
• Saab AB
• GKN pic
• Bombardier Inc
• AAR Corp
• Spirit AeroSystems Inc.
• Leonardo S.P.A
• Raytheon Technologies Corporation
• Triumph Group Inc.
• Elbit Systems Ltd.

What is the growth of the Aerostructures market?

The Aerostructures Market Size was valued at USD 60.8 billion in 2023 and is expected to reach USD 109.9 billion by 2032 and grow at a CAGR of 6.8% over the forecast period 2024-2032. The growth in the demand for commercial and military aircraft is expected to be a significant key driver in the market for aerostructures. Furthermore, the quest for lightweight structures that are fuel-efficient and the adoption of composite materials are also driving this market. Finally, the emerging manufacturing technologies in the aerostructure arena, like 3D printing, have further buoyed the market.

Top 10 Companies Operating in the Aerostructures Industry Worldwide

1. Spirit AeroSystems
2. GKN Aerospace
3. Airbus SE
4. Boeing
5. Leonardo S.p.A
6. Safran
7. Bombardier
8. Mitsubishi Heavy Industries
9. Triumph Group
10. RUAG Aerostructures

Which Segment Dominated the Aerostructures Market?

In 2023, the Fuselage segment dominated and accounted for a 45% market share in the Aerostructures Market. The fuselage is the major structural part of an aircraft and carries passengers, crew, and cargo. Sales of this segment are likely to grow due to increased numbers of commercial and military aircraft orders, as well as an increase in demand for lightweight composite fuselage materials to ensure better fuel efficiency. For example, Boeing's use of composites in the fuselage of its 787 Dreamliner aids in weight reduction and performance, which drives up demand for this market.

What are the opportunities for the Aerostructures Market?

• The increasing demand for new-generation aircraft from commercial and military forces also fuelled this process. Growing air travel in the Asia-Pacific region had orders in the backlog that promoted aerostructures production.
• Increased application of composite materials like carbon fiber-reinforced polymers into aerostructures because of an excellent strength-to-weight ratio, thus enhancing fuel efficiency and lower operating costs.
• Investments in defense and space have increased the production of military aircraft and spacecraft, thus further pushing demand for aerostructures.

Which Region Dominated in the Aerostructures Market?

In 2023, North America dominated the global Aerostructures Market, capturing a 40% market share. The strong presence of world-leading aerospace manufacturers such as Boeing and Lockheed Martin, a good level of defense spending by the US government, and a strong industry demand for commercial aircraft continue to fuel market growth in this region. The region is further blessed with some of the world-class R&D capabilities that continue to innovate into lightweight materials and manufacturing techniques.

Recent Developments

• February 2023: GKN Fokker, a Mexican manufacturer, had supplied a size 8m x 4m thermoplastic composite aerostructure. It was developed under the Airbus-led multi-functional fuselage demonstrator (MFFD) project.
• March 2023: Spirit AeroSystems Inc and Joramco have signed a deal to become a spirit-authorized maintenance, repair, and overhaul (MRO) center. With this, they will initially provide nacelle services to selective players and their products.

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