Aero Structure Equipment Market by Automated Production System and Geography - Forecast and Analysis 2020-2024

The aero structure equipment market share is expected to increase by USD 306.59 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 8.56%.

This aero structure equipment market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aero structure equipment market segmentations by automated production system (fastening systems and composite systems) and geography (North America, Europe, APAC, and South America). The aero structure equipment market report also offers information on several market vendors, including Ascent Aerospace LLC, Broetje-Automation GmbH, Electroimpact Inc., KUKA AG, Lisi Aerospace SAS, M Torres Disenos Industriales SAU, Mitsubishi Electric Corp., Spirit AeroSystems Holdings Inc., Triumph Group Inc., and United Technologies Corp. among others.

What will the Aero Structure Equipment Market Size be During the Forecast Period?

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Aero Structure Equipment Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The influence of nanocomposites in airframe manufacturing is notably driving the aero structure equipment market growth, although factors such as technology gap between additive and subtractive manufacturing may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aero structure equipment industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Aero Structure Equipment Market Driver

The influence of nanocomposites in airframe manufacturing is notably driving the aero structure equipment market growth. Aerospace stakeholders and airlines are actively promoting CO -reducing measures and energy savings in response to the increasing challenges arising from global warming and climate changes. These measures aim to control and manage greenhouse gas emissions that have adverse environmental effects. Since the late 1990s, increasing efforts have been made to substantially diminish fuel consumption during flight, landing, and taxiing of aircraft. In addition, the increasing efforts in employing lightweight materials with high mechanical and multifunctional properties in the design and manufacture of aircraft necessitates OEMs to make significant investments in adopting nanotechnology. Along with OEMs, many airlines are also investing in energy-efficient technologies as an operative measure to reduce fuel consumption. Nontechnology finds a number of uses within the aerospace industry. The industry s primary development goals match almost exactly with the advantages of nanomaterials, as it replaces traditional bulk metals such as steel, which help in developing advanced light weight aircrafts. Thus, the influence of nanocomposites in airframe manufacturing will lead to availability of technologically advanced aircrafts and support the market growth Implementation of composite materials 

Key Aero Structure Equipment Market Trend

The emergence of adaptive ailerons is the key trend driving the aero structure equipment market growth. Adaptive ailerons can be looked upon as one of the disruptive innovations which can contribute to next-generation aircraft. Scientists from Italy and Canada collaborated to structure this concept that was initiated as a result of the integration of various morphing techniques in a wing-tip prototype. An array of European Commission (EC) funded projects, such as Clean Sky JTI and SARISTU, demonstrated that wing trailing edge morphing could facilitate significant drag reduction (up to 6%) in off-design flight points. This can be made possible through chord-wise camber variations in the airfoil of an aircraft wing to leverage aircraft weight reduction, which in turn, will reduce fuel consumption. Therefore, researchers are trying to use the flap region to implement the necessary structural adaptations. This has led to the focus on using morphing techniques in ailerons without deviating from its main functionality in ensuring aircraft's longitudinal stability.

Key Aero Structure Equipment Market Challenge

The major challenge impeding the aero structure equipment market growth is the technology gap between additive and subtractive manufacturing. 3D printing is also not free from the limitations of general printing. One such challenge is the direct dependency of the speed of printing, i.e., the speed with which the printer head extrudes the raw material used. This is dictated by the purity and homogeneity of the product. Also, the 3D printer makers often restrict the customers regarding the choice of materials. Often the manufacturers make their buyers purchase the raw materials from them, assuring them of better performance in comparison to materials from other distributors. Thus, the technology gap between additive and subtractive manufacturing limits the market growth.

This aero structure equipment market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global aero structure equipment market as a part of the global aerospace & defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aero structure equipment market during the forecast period.

Who are the Major Aero Structure Equipment Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Ascent Aerospace LLC
• Broetje-Automation GmbH
• Electroimpact Inc.
• KUKA AG
• Lisi Aerospace SAS
• M Torres Disenos Industriales SAU
• Mitsubishi Electric Corp.
• Spirit AeroSystems Holdings Inc.
• Triumph Group Inc.
• United Technologies Corp.

 

This statistical study of the aero structure equipment market encompasses successful business strategies deployed by the key vendors. The aero structure equipment market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Ascent Aerospace LLC - The company offers an electric fastening technology for fuselage applications. The solutions range from simple semi-automatic solutions through 7 axis CNC systems with countersink depth control, active panel protection, and robust clamp.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The aero structure equipment market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Aero Structure Equipment Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the aero structure equipment market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Aero Structure Equipment Market?

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39% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for aero structure equipment market in North America. Market growth in this region will be faster than the growth of the South American markets.

The increasing demand for aero structure equipment by OEMs will facilitate the aero structure equipment market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 affected all countries in North America, especially the US. This negatively impacted the aero structure equipment market in North America. As of April 28, 2021, more than 32.9 million COVID-19 cases were reported. A rise in the number of COVID-19 cases due to the second wave of the outbreak in the first half of 2021 led to the imposition of partial lockdowns in several countries, including the US, Canada, and Mexico. In addition, most non-essential and non-urgent operations were closed or halted as per the requirement. These measures affected the growth of the aero structure equipment market in the region in 2020 and are also expected to impact the market growth in 2021. However, measures such as the partial resumption of industrial activities with the norms of social distancing and limiting the capacity of total staff reporting to the worksite are expected to stabilize the market in the region in the latter half of the forecast period.

What are the Revenue-generating Automated Production System Segments in the Aero Structure Equipment Market?

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The aero structure equipment market share growth by the fastening systems segment will be significant during the forecast period. The aerospace industry is highly technology-driven, with new technological transformation trends and investments promoting indigenous developments. Manufacturers are also focusing on the delivery of such products to the customers on time. This is easing the implementation of new technologies and systems, which will have a positive impact on the overall global aero structure equipment market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the aero structure equipment market size and actionable market insights on post COVID-19 impact on each segment.

 

Aero Structure Equipment Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 8.56%
Market growth 2020-2024	$ 306.59 million
Market structure	Fragmented
YoY growth (%)	7.99
Regional analysis	North America, Europe, APAC, and South America
Performing market contribution	North America at 39%
Key consumer countries	US, France, Germany, and Canada
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Ascent Aerospace LLC, Broetje-Automation GmbH, Electroimpact Inc., KUKA AG, Lisi Aerospace SAS, M Torres Disenos Industriales SAU, Mitsubishi Electric Corp., Spirit AeroSystems Holdings Inc., Triumph Group Inc., and United Technologies Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Aero Structure Equipment Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive aero structure equipment market growth during the next five years
• Precise estimation of the aero structure equipment market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the aero structure equipment industry across North America, Europe, APAC, and South America
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of aero structure equipment market vendors

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