Aerostructure equipment are components of an aircraft’s airframe including flight control surfaces, fuselage, and wings. Aerostructure equipment is not just confined to the airline as military planes and helicopters require aerostructure equipment to remain running all the time. Mechanical testing of an individual or complete aerospace structures are carried out on a universal testing machine including tests like tensile, flexure, compression, fatigue and impact.
A recent study by Fact.MR foretells the global aerostructure equipment market to record an expansion rate of over 1.5% over the forecast period of 2019 - 2027. The global aerostructure equipment market is driven by the increased deliveries of commercial aircraft around the globe. With the increase in the number of passengers flying each year, there has been significant growth within the commercial aviation industry in the deployment of commercial aircraft.
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North America is anticipated to contribute to the largest market share in the global aerostructure equipment market due to the presence of leading aircraft manufacturers such as Boeing, Lockheed Martin, and Bombardier as the number of aircraft production increases and the demand is being powered by several global elements. Despite a trend towards leading efficiency, route consolidation and the geopolitical situation of some countries resulting in some limitations. Aerostructure equipment is considered the most vital parts of an aircraft. Commercial aircraft deliverables extremely govern the demand and growth factors of the aerostructure equipment market. Advancements in materials, designs, and processes have asserted the industry to grow faster.
The growing wealth of emerging economies has trigged accessibility to air-traffic and is a dominant factor leading to a rise in trips per capita and passenger traffic across the globe. This, invariably, is pointing towards the demand of newer aircraft which is forwarding the global aerostructure equipment market. The primary trend that will most probably be impacting the competitive dynamics of the market is expected to shift the manufacturing of aerostructure equipment from significant players to OEM’s. In the year 2018, several highly valued mergers and acquisitions were witnessed in the aerostructure equipment industry as major vendors acquired other small and medium scale vendors to capture a large portion of the market.
However, this trend has led Boeing and Airbus to increasingly backward integrate themselves by accepting crucial components, including aerostructure materials for their upcoming programs. Several research and development activities in the field of aerostructure equipment have resulted in the formation of numerous composite materials which are almost 20% lighter than conventional aircraft materials. However, the use of FSW aluminum, an alloy which is bulkier is more prominently used in aerostructure equipment due to exact precision crafting.
Commercial Aircraft and Helicopters to Garner the Leading Shares
The International Air Transport Association forecasts the number of passengers being transported by airlines to grow by over 6% within the next decade. Such a surge of travelers by air requires the production of more number of aircraft invariably uplifting the demand for aerostructure equipment. The world’s foremost aircraft manufacturers are anticipating blue skies for the global aviation industry within the next two decades.
According to Boeing, a multinational designer, and manufacturer of airplanes and rotorcraft, predicts the passenger and freighter fleet to expand from 21,000 to 40,000 aircraft with 37,000 new airplanes during the forecast period. Most of the growth mentioned above are expected to be single-aisle airplanes. Such steady development figures are expected to drive the global aerostructure equipment market during the forecast period of 2019 to 2027.
One cited reason for the improvement in the latest aircraft market is the substitution of aging aircraft, especially in North America. European multinational aerospace corporation, Airbus SE, have projected a 20-year demand for nearly 12,000 passenger single-aisle aircraft to be replaced, which demands the utilization of aerostructure equipment.
Innovations Continue to Fuel Growth
A significant trend that will have a considerable impact on the competitive dynamics of the global aerostructure equipment market is the shift in the manufacturing of aerostructure equipment from major players to original equipment manufacturers (OEM). 2018 witnessed a large number of M&A activities as many major vendors in the aerostructure equipment industry to capture a relatively large share in the market acquired many small and medium scale companies. This has led multinational aircraft manufacturers like Boeing and Airbus to increasingly backward integrate by manufacturing crucial aerostructure equipment for their upcoming events. This consolidation at the tier level has curtailed the bargaining power of OEM’s to a certain extent. Moreover, the major organizations involved in the aerostructure equipment have had higher margins than OEMs, which is another factor pushing OEMs to produce crucial aircraft parts in-house increasingly.
Tracking the Recent Developments in Market
- Increased Automation - Several automation efforts being made by original equipment manufacturers to increase the overall quality of aerostructure equipment and to reduce the total cost
- Innovative Technologies - Importance of robotic applications have increased in the production of aerostructure equipment with several equipment manufacturers joining hands with major robotics vendors such as KUKA AG.
- New Competitors - With the increasing production rates, outsourcing trend, and dual sourcing, several opportunities are opening up for new suppliers from other industries.
- Industrial Expansion - The overall production of aerostructure equipment shifting to East Asia and the Americas due to increased demand in emerging markets and competitive production advantages have
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The global aerostructure equipment market is envisioned to observe an impressive rise in the forecast period 2019 to 2027, according to a new Fact.MR study. The increasing adoption of data-driven manufacturing plants with the implementation of several technologies, such as robotics and computer-aided suits, is expected to contribute growth within the global aerostructure equipment market. The study propounds critical trends that are currently shaping the growth of the global aerostructure equipment market. This newly published and insightful report sheds light on key dynamics, which are expected to transform the future for the global aerostructure equipment market, in turn creating lucrative avenues for prominent companies, as well as emerging players, associated with the development of the global aerostructure equipment market.
The global aerostructure equipment market study is an intricate market intelligence on key revenue growth determinants, challenges, industry trends, and opportunities, which will eventually influence the growth trajectory for the global aerostructure equipment market. The report initially imparts an overview of the global aerostructure equipment market, considering current and future information security industry prospects, to unveil attractive facets appertaining to the adoption of aerostructure equipment across key regional markets.
An in-depth assessment on few of the aerostructure equipment providers offered in the report enables the readers to gain detailed insights that have been derived from the global aerostructure equipment business performance across the regional markets incorporated in the report. A list of key companies operating in the global aerostructure equipment market provided in the report adds to the credibility of this exhaustive research study.
Global Aerostructure Equipment Market: Report Summary and Scope
The study offers detailed intelligence on different factors influencing the demand, sales, and revenue generation within the global aerostructure equipment market around the world. The opportunity analysis included in the report is beneficial for the readers to understand better opportunities in the global aerostructure equipment industries, which will, in turn, trigger the adoption of aerostructure equipment strategies. An elaborate cost structure analysis provides the report with innate completeness, and study offered on the cost structure involves all the regional markets incorporated.
Detailed forecast on the global aerostructure equipment market has also been offered by analysts, who have developed market forecast concerning likely, conservative and optimistic market scenario. Analysis and assessment of aircraft production by region and different application of aerostructure equipment have been included in this study. The study also exerts details on aspects of impacting development strategies of the manufacturers within the global aerostructure equipment market. Segmentation of the global aerostructure equipment market has been provided in the form of a taxonomy table in the report.
Based on component type, the global aerostructure equipment market is segmented into:
- Automated Production Fastening Systems
- Automated Production Composite Systems
- Automated Assembly Station / Lines Systems
- Automated Assembly Conveyor Systems
- Small Tools (Hand Power and Manual)
Based on aircraft body type, the global aerostructure equipment market is segmented into:
- Narrow Body Aircraft ASE
- Wide Body Aircraft ASE
- Regional ASE
- Helicopter ASE
Based on end-use application, the global aerostructure equipment market is segmented into:
- Business and regional aviation
Based on delivery type, the global aerostructure equipment market is segmented into:
- New Equipment
- Operational Services
Based on region, the global aerostructure equipment market is segmented into:
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Global Aerostructure equipment market: Analysis of market size evaluation
Current and future prospects for the global aerostructure equipment market, containing current, as well as future, projected values forecast have been incorporated in the report. The assessment offered on the factors mentioned above is comprehensive, and dedicated weighted chapters have been delivered on the same.
Market valuation at global and regional scale for the global aerostructure equipment market is offered in terms of “US$ Mn.” A Y-o-Y growth comparison on the vital aerostructure equipment market segments, along with the market attractiveness assessment quantifies insights delivered in the report. Metrics mentioned above are also tracked based on aerostructure equipment administering across several regions where aerostructure equipment witnesses’ consistent demand.
Global Aerostructure Equipment market: Scrutinized assessment on regional segments
Weighted chapters have included in the report on the global aerostructure equipment market, which imparts forecast on the regional markets. These chapters illuminate the regional macros (business, economic, and political environment outlook), which are expected to have a significant impact on the growth of the global aerostructure equipment market in the near future.
Country-specific assessment on demand for aerostructure equipment has also been provided for each regional market, along with the market size valuation and forecast, and impact analysis of critical regional and country-wise dynamics. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.
Global Aerostructure Equipment market: In-depth analysis of the competitive landscape
The report concludes with a weighted chapter on the competitive landscape on the global aerostructure equipment market, which profiles key companies contributing to the market expansion. Up-to-date and essential data, as well as knowledge, related to the market players, which has been delivered with the help of a dashboard view. Market share comparison and analysis of these market players offered in the report enables the report readers to devise strategic steps forward for their businesses.
Company profiles have been incorporated in the report, which exerts details such as the development of the global aerostructure equipment market, along with a comprehensive SWOT analysis on each player identified together with the company strategies identification and review. The intensity mapping of the market players operating in the global aerostructure equipment market provides readers with actionable intelligence, which helps in understanding the current market status and prospects determining competition levels in the global aerostructure equipment market.
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