Aerostructure Market Size, Share, Growth Analysis, By Component (Fuselages, Empennages), By Structure Type (Fixed-Wing, Rotary-Wing), By Aircraft Type (Commercial Aviation, Business & General Aviation), By Material, By End User, By Region - Industry Forecast 2024-2031

Aerostructures Market size was valued at USD 47.4 billion in 2019 and is poised to grow from USD 51.13 billion in 2023 to USD 101.01 billion by 2031, growing at a CAGR of 7.86% in the forecast period (2024-2031).

The aerostructures market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students. 'AAR Corporation (U.S.)', 'Bombardier Inc. (Canada)', 'Cyient Ltd. (India)', 'GKN plc (U.K.)', 'Leonardo S.P.A. (Italy)', 'RUAG International Holding AG (Switzerland)', 'Saab AB (Sweden)', 'Spirit AeroSystems Holdings Inc. (U.S.)', 'STELIA Aerospace Group (France)', 'Triumph Group, Inc. (U.S.)', 'Collins Aerospace (U.S.)', 'Elbit Systems Ltd. (Israel)'

The important factor driving the expansion of the aerostructures market is the increase in demand for UAVS in military and commercial applications. The increased number of border clashes and disagreements between adjacent countries is driving the need for military unmanned vehicles. As a result, the procurement of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) unmanned aerial vehicles (UAVs) is expanding in order to improve intelligence, surveillance, and reconnaissance (ISR) capabilities. These UAVs have a long endurance of 24 to 48 hours and fly at a greater altitude, which helps to boost military mission capabilities. Furthermore, UAVs built of composite materials outperform regular UAVs in terms of performance.

• To lower the overall weight of aerostructure construction, prominent manufacturers often pick lightweight materials such as superalloys and composites. As the demand for composite materials in the aviation industry has skyrocketed, firms are turning to innovative technologies such as 3D printing and additive manufacturing to enhance production capacity.
• The use of 3D printing technology in manufacturing aids in the production of high-volume products in less time with increased quality and performance. Furthermore, adopting this technology considerably reduces the amount of material consumed while ensuring a restricted generation of waste, resulting in a cost-effective manufacturing process. As a result, the increasing adoption of 3D printing technology for manufacturing is likely to boost the growth of the aerostructures market.

North America to Dominate the Aerostructures Market

The aerostructure market was valued at USD 47.40 billion in 2021 and it is expected to reach USD 80.48 billion by 2028, at a CAGR of 7.86% over the forecast period.

North America held the largest market share and is expected to dominate the market.

Global Aerostructure Market size was valued at USD 57.22 billion in 2022 and is poised to grow from USD 61.00 billion in 2023 to USD 101.72 billion by 2031, growing at a CAGR of 6.6% during the forecast period (2024-2031).

The global aerostructures market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students. 'AIRBUS SE (Netherlands) ', 'Spirit AeroSystems Inc. (US) ', 'Raytheon Technologies Corporation (US) ', 'Leonardo S.p.A. (Italy) ', 'GKN plc (UK) ', 'Safran SA (France) ', 'Saab AB (Sweden) ', 'FACC AG (Austria) ', 'Kawasaki Heavy Industries Ltd. (Japan) ', 'ST Engineering (Singapore) ', 'Kaman Corporation (US) ', 'RUAG International Holding Ltd. (Switzerland) ', 'Latécoère (France) ', 'Elbit Systems Ltd. (Israel) ', 'Triumph Group (US) ', 'Korea Aerospace Industries Ltd. (South Korea) ', 'Israel Aerospace Industries Ltd. (Israel) ', 'Mitsubishi Heavy Industries Ltd. (Japan) ', 'AAR Corporation (US) ', 'Aerospace Industrial Development Corporation (AIDC) (Taiwan)'

The important factor driving the expansion of the aerostructures market is the increase in demand for UAVS in military and commercial applications. The increased number of border clashes tensions between neighbouring countries is driving the need for military unmanned vehicles. As a result, the procurement of high-altitude long-endurance (HALE) and medium-altitude long-endurance (MALE) unmanned aerial vehicles (UAVs) is expanding in order to improve intelligence, surveillance, and reconnaissance (ISR) capabilities. These UAVs have a long endurance of 24 to 48 hours and fly at a greater altitude, which helps to boost military mission capabilities. Furthermore, UAVs built of composite materials outperform regular UAVs in terms of performance.

Use of lightweight materials: To lower the overall weight of aerostructure construction, prominent manufacturers often pick lightweight materials such as superalloys and composites. As the demand for composite materials in the aviation industry has skyrocketed, firms are turning to innovative technologies such as 3D printing and additive manufacturing to enhance production capacity.

North America to Dominate the Global Aerostructures Market