Spirit AeroSystems, Inc., GKN plc, RUAG International Holding AG, Saab AB, Airbus S.A.S., Triumph Group, Inc., Collins Aerospace, and Elbit Systems Ltd., among others, are the key players in the global market for aerostructures.
As per the analysis by Expert Market Research, the global aerostructures market is estimated to grow in the forecast period of 2022-2027 at a CAGR of 6.3%, driven by growing demands worldwide for air services.
Aerostructure signifies the individually produced sections of an airframe. They are essential in the completion of any aircraft, be it fixed-wing or rotorcraft, or intended for commercial, civilian, or military utilisation. Aerostructure’s primary parts and sub-assemblies are essential components to ensure the aircraft’s performance and safety in harsh environments. Such components provide the structural strength and aerodynamics of each aircraft.
The rise in aircraft production all over the globe, with key factors involving surging global population, growing demand for passenger and cargo air services, industrial expansion, enhanced flight volume, technological advancements, increasing personal income, and modernisation of old aircraft are driving the growth of global aerostructures market during the forecast period.
The developing economies are further boosting the market growth owing to the rising wealth and population in emerging countries like India. Additionally, the expansion in the air transport industry is likely to propel the market growth of aerostructures as airlines all over the world transport billions of passengers and tonnes of freight on commercial flights every year.
Moreover, the aviation industry is rapidly growing and positively impacting the economy, which is further expected to fuel the aerostructures market growth. Significant innovations and technological advancements like artificial intelligence (AI), autonomous devices, internet of things (IoT), unmanned aircraft innovations, ultralight materials, biometrics, blockchain, robotics, electric aircraft, and alternative fuels are bolstering the market demand for aerostructures.
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|Headquarters:||Kansas, United States|
Spirit AeroSystems, Inc. is among the leading manufacturers of aerostructures across the world for defence platforms, commercial aeroplanes, and regional or business jets. With expertise in aluminium and advanced composite manufacturing solutions, the company's core products include integrated wings and wing components, fuselages, nacelles, and pylons. The company offers the aftermarket services for business or regional and commercial jets.
|Headquarters:||Worcestershire, United Kingdom|
GKN plc is a global engineering group. It fuels the wheels of hundreds of cars and helps thousands of aircraft to fly. The company provides the power to interchange earth and harvest crops and makes crucial components for industries that touch lives all over the world. The company works at the most advanced stage of manufacturing, generating new technologies and innovative products for global customers.
RUAG International Holding AG (RUAG), a subsidiary of BGRB Holding Ltd, is a supplier of system solutions and components for defence, aerospace, and space markets. The company designs, creates and manufactures military and civil technology applications for applications in space, air, as well as on land.
Saab AB is a leading security and defence company with a core mission to aid countries and keep their people and overall society safe. The company aims to push the boundaries of technology to make a safer, more sustainable, and more equitable world. It designs, manufactures, and maintains advanced systems in weapons, aeronautics, command and control, sensors, and underwater systems.
Airbus S.A.S is a worldwide leader in space, aeronautics, and related services. It provides the most inclusive variety of passenger airliners. Also, it is a European leader in supplying combat, transport, tanker, and mission aircraft. The company is an international pioneer in the aerospace industry and a leader in manufacturing, designing, and delivering aerospace services, products, as well as solutions to consumers all over the globe.
|Headquarters:||Pennsylvania, United States|
Triumph Group engineers, designs, manufactures, repairs, and overhauls a wide range of aviation and industrial components, subassemblies, accessories, systems, and aircraft structures. The company partners with original equipment manufacturers (OEMs) and operators of commercial, business, regional, and military aircrafts globally, to deliver services and products that solve their hardest challenges.
|Headquarters:||North California, United States|
Collins Aerospace is among the world's largest suppliers of aerospace and defence products. It is devoted to redefining aerospace from the smallest details to the highest pursuits. The company focuses on providing customers in the commercial, regional, business aviation, and military sectors with avionics, aerostructures, interiors, mission systems, mechanical systems, power and control systems.
Elbit Systems Ltd. is an international high technology company. It is involved in a broad variety of programs all over the globe, with a focus on homeland security grounds and defence. The company further supplies and develops a wide portfolio of land, airborne, and naval systems, and products for homeland security, defence, and commercial applications.
Also Read@ https://www.expertmarketresearch.com/pressrelease/global-aerostructures-market
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.