LONDON, Oct. 11, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the aerostructures market, the increasing adoption of 3D printing technology is a key trend gaining popularity in the aerostructures market. The use of 3D printing technology in manufacturing lowers the production time and improves product quality and performance. 3D printing technology which is also known as additive manufacturing is the process of creating a three-dimensional object using computer-created design. Hence, manufacturing aerostructures using 3D printed technology will significantly reduce the amount of material consumed while ensuring a limited generation of waste, resulting in a cost-effective manufacturing process.
For instance, in February 2021, Airbus SE, a France-based aerospace corporation, operating in aerostructures market launched two Eurostar Neo spacecrafts, in which, a total of 500 radio frequency (RF) components, composed of multi-waveguide blocks and switch assembly networks, have been 3D manufactured.
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The global aerostructures market size is expected to grow from $47.76 billion in 2021 to $51.04 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The global aerostructures market share is expected to grow to $67.25 billion in 2026 at a compound annual growth rate (CAGR) of 7.1%.
The increasing commercial aircraft production will propel the growth of the aerostructures market during the forecast period. Commercial aircraft are used to haul passengers and freight on a scheduled basis between selected airports. The rapid growth in commercial aircraft production is expected to boost the utilization of aerostructures, as they are a vital component in aircraft production and assembly. For instance, in 2021, Airbus SE, a Netherlands-based commercial aircraft manufacturer, delivered 611 commercial aircraft to 88 customers. Airbus doubled its gross order intake in 2021 compared to 2020 with 771 new sales. Therefore, increasing commercial aircraft production is expected to boost demand for aerostructures during the forecast period.
Major players in the aerostructures market are Spirit AeroSystems, Saab AB, Triumph Group Inc., Leonardo SpA, Elbit Systems Ltd., Aar Corp., Bombardier Inc., Airbus, UTC Aerospace Systems, Cyient Ltd., GKN Aerospace, Mahindra Aerostructures Pvt. Ltd, STELIA Aerospace Group, Ruag Group, and Collins Aerospace.
The global aerostructures market analysis is segmented by component into fuselage, empennage, flight control surfaces, wings, nose, nacelle and pylon, doors and skid; by material into composites, alloys and super alloys, metals; by platform into fixed wing, rotary wing, unmanned aerial vehicles (UAVs), advanced air mobility; by end use into OEM, aftermarket.
North America was the largest region in the aerostructures market in 2021, and it is also expected to be the fastest-growing region in the global aerostructures market during the forecast period. The regions covered in the global aerostructures market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Aerostructures Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide aerostructures market overviews, aerostructures market analyze and forecast market size and growth for the whole market, aerostructures market segments and geographies, aerostructures market trends, aerostructures market drivers, aerostructures market restraints, aerostructures market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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