North America Aerostructures Market (2021-2027) | Analysis, Size, Share, Revenue, industry, Forecast, Trends, Growth, Outlook & COVID-19 IMPACT

Latest 2023 Development of the North America Aerostructures Market

The North America Aerostructures market is witnessing an increasing demand for lightweight materials: As the aviation industry strives to improve fuel efficiency and reduce emissions, there is a growing demand for lightweight materials such as composites and titanium. This trend is expected to continue in the coming years, with the use of advanced materials becoming increasingly common in aerostructures. The players are pursuing growth strategies to enhance their market share and product portfolio. For instance, Boeing's announcement of a new $200 million facility in Salt Lake City, Utah, to manufacture aerostructures for its 737, 767, and 787 aircraft programs. The facility was expected to open in 2022 and would create up to 800 new jobs in the area. Further, Spirit AeroSystems, one of the largest aerostructures manufacturers in the world, announced plans to invest $80 million in its facilities in Wichita, Kansas, to increase production capacity and improve efficiency. The investment was expected to create up to 200 new jobs. Additionally, Hexcel Corporation and Woodward, Inc. completed their merger to form a new company, Woodward Hexcel, which would specialize in manufacturing composite materials and aerostructures for the aerospace and defence industries. Moreover, Bombardier Aerospace, a major Canadian aerospace company, sold its aerostructures manufacturing business to Spirit AeroSystems for $500 million. The acquisition included facilities in Belfast, Northern Ireland, and Morocco, as well as a maintenance, repair, and overhaul (MRO) facility in Dallas, Texas.

The North America Aerostructures industry is witnessing a rising focus on sustainability. With the increasing global awareness of environmental issues, there is a growing emphasis on sustainability in the aviation industry. This includes reducing the environmental impact of aircraft through the use of sustainable materials and manufacturing processes. Additionally, the COVID-19 pandemic continued to impact the aerostructures market, with reduced demand for commercial aircraft leading to job losses and facility closures. However, there were also signs of recovery as airlines began to resume operations and place new orders for aircraft. Further, the aerostructures industry is increasingly turning to automation to improve efficiency and reduce costs. This includes the use of robotics, artificial intelligence, and other advanced technologies to streamline manufacturing processes. Moreover, as the global fleet of aircraft continues to grow, there is a growing demand for aftermarket services such as maintenance, repair, and overhaul (MRO) services. This trend is expected to continue in the coming years, creating opportunities for companies that specialize in these services. In addition, additive manufacturing, or 3D printing, is becoming an increasingly important technology in the aerostructures industry. This technology allows for the production of complex components with high precision and efficiency, reducing costs and lead times.

North America Aerostructures Market Synopsis

North America Aerostructures Market is expected to generate growth in the coming time zone on the back of an increase in the integration of mobility control and cruise control which are all making the integration of electronic power systems a successful and ideal product for the smooth running of the aircraft. Additionally, the decentralized structure of the electric power systems in the aerostructure models is posing a challenge to its increased adoption and is expected to be a growth-promoting factor for the growth of the product market in the foreseeable future. Moreover, with increasing efforts of the automotive industry and the electrical control unit manufacturer for the centralized production of the system, the product market is expected to witness a proliferation in the coming timeframe and offer potential investors and industrialists vast new avenues for a promising future business growth in the coming timeframe.

According to 6Wresearch, the North America Aerostructures Market size is anticipated to register growth during 2021-27F. With the leading outbreak of the global COVID-19 pandemic, the aircraft industry has been facing challenges with regard to the alignment of supply and demand factors in the economy. No doubt, that the rise in electrification has led to bringing a revolution in the aircraft industry, but the imposition of the nationwide lockdown in developed and developing countries across the world in order to win the bid to combat the spread of the novel coronavirus, there has been a lot of challenges faced by the industry with regard to reduced production and reduction in the product line ups as a result of panning out of income and reduction in demand. But, as the situation tends to struck pace again, the increase in the demand for electric automated systems in aircraft vehicles is anticipated to be witnessed again and the market landscape is expected to gain traction back in the coming timeframe and again the growth prospects of the product market are expected to be preserved.

OEMs are expected to generate lucrative opportunities in the market on the basis of an increase in the growth of the manufacturing process outflows in OEMs. The growth in a vast number of private players in the market is leading to a sound growth of the market with a fragmented market competitive landscape of the product market. The sharing of consolidation incentives by OEMs is leading to a high-scale business competitive landscape of the aerostructures and is expected to be a growth promoter for the market in the coming time zone.

The key players in the product market are UTC aerospace systems, Leonardo S.P.A, Triumph Group, RUAG holding AG, STELIA aerospace, GKN aerospace, Elbit systems ltd., Bombardier Inc., Spirit AeroSystems, Inc., and AAR corporation

The North America Aerostructures market report thoroughly covers the market by Material, End-use, Platform, Component, and key Countries including the United States and Canada. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

• North America Aerostructures Market Overview
• North America Aerostructures Market Outlook
• North America Aerostructures Market Forecast
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027 of North America Aerostructures Market Revenues
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027, by Component
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027, by Material
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027, by Platform
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027, by End-use
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027, by Countries
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027 of Canada Aerostructures Market
• Historical Market Data for the period 2017-2020 and Market Size & Forecast until 2027 of the United States Aerostructures Market
• Market Drivers and Restraints
• North America Aerostructures Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• North America Aerostructures Market Share, By Players
• Competitive Benchmarking

Markets Covered

The report provides a detailed analysis of the following market segments:

• By Platform:

  • Fixed Wing Aircrafts
    • Commercial
    • Military
    • General
    • Unmanned Aerial Vehicles (UAVs)
    • Others
  • Rotary Wing Aircrafts
    • Military
    • Commercial
    • Unmanned Aerial Vehicles (UAVs)

By Component:

• Fuselage
• Empennage
• Wings
• Nose
• Nacelle and Pylon
• Flight Control Services
• Others

By Material:

• Metals
• Alloys
• Composites

By End-use:

• OEMs
• Aftermarkets

By Countries:

• United States
• Canada
• Rest of North America