Global Composite Aerostructure Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Composite Aerostructure Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Composite Aerostructure refer to all the assembled elements. It includes fuselage, empennage, flight control surfaces, wing and nose, among others. These components are made from materials such as aluminum, steel, titanium and composites. The report mainly studies the Composite Aerostructure market.

In the increasingly competitive market situation, through analyzing of the history of the industry, the process of evolution; industry business model, industry chain, value chain; legal policies and technological development; global and regional market capacity, market structure, market segmentation, competitive situation, market trends and other detailed analysis, in-depth to understand the stage and characteristics of the industry, identify the main factors that affect the development of the industry, predict the future development trend of the industry, determine the industry's investment value, reveal industry investment risk, so as to give reference and guidance to the industry participants, industry entrants, investment agencies, consulting agencies, government and related institutions.

Market Overview:

The latest research study on the global Composite Aerostructure market finds that the global Composite Aerostructure market reached a value of USD 14408.22 million in 2022. It’s expected that the market will achieve USD 24661.82 million by 2028, exhibiting a CAGR of 9.37% during the forecast period.

Market Challenges and Impact

For aircraft and component manufacturers, the biggest disadvantage of composite materials may be that they have higher initial cost compared with metals. The higher cost is mainly due to the price of fiber and the complicated process required to manufacture finished materials.

The integral molding of composite aircraft structural parts is the mainstream trend of civil aircraft manufacturing at present, but there is a great risk of deformation in the manufacturing process, which leads to assembly difficulties. Digital design and simulation technology can realize the optimal design of each component and predict the deformation of the component. However, there are some difficulties in computer simulation of composite materials, mainly because composite materials are anisotropic materials, each layer is composed of independent fiber layers with different thicknesses, and there are unpredictable defects in them. It is much more difficult to simulate the real service situation of composite materials by computer than aluminum alloy materials.

Composite materials have very good properties that make them ideal for the development of aircraft structures. But concerns over the recycling of composite materials could hinder the development of the Composite Aerostructure market. Recycling composite material is very difficult because it is often combined with different materials, such as foam cores. Aircraft have a limited lifespan, their life cycle is between 20-36 years. After the cycle is reached, solid waste that is difficult to recycle will be produced. The issue of solid waste management posed by composites is one of the challenges that many manufacturing companies will face.

Region Overview:

From 2023-2028, Europe is estimated to witness robust growth prospects.

Company Overview:

Spirit Aero Systems is one of the major players operating in the Composite Aerostructure market, holding a share of 12.65% in 2022.

Spirit AeroSystems is one of the world's largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company's core products include fuselages, integrated wings and wing components, pylons, and nacelles. Also, Spirit serves the aftermarket for commercial and business/regional jets.

GKN is a global engineering group. Its businesses include manufacturing, automotive, aerospace, engineering, technology and powder metallurgy. GKN Aerospace is the world's leading multi-technology Tier 1 aerospace supplier. With 40 manufacturing sites in 13 countries, the company serves more than 90 percent of the world's aircraft and engine manufacturers.

Segmentation Overview:

Among different product types, Fuselage segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Narrow-Body Aircraft segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Composite Aerostructure market covered in Chapter 3:

Subaru Corporation
Safran
Korea Aerospace Industries
AERNNOVA
Northrop Grumman
Triumph Group
GKN Aerospace (Melrose Industries)
Kawasaki Heavy Industries
Mitsubishi Aircraft Corporation
Spirit Aero Systems
Saab
Collins Aerospace Systems
Leonardo
Stelia Aerospace
Premium Aerotech

In Chapter 4 and Chapter 14.2, on the basis of types, the Composite Aerostructure market from 2018 to 2029 is primarily split into:

Fuselage
Empennage
Flight Control Surfaces
Wings
Nose
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Composite Aerostructure market from 2018 to 2029 covers:

Narrow-Body Aircraft
Wide-Body Aircraft
Very Large-Body Aircraft
Regional Aircraft
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)