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The commercial airframe component market is estimated to decline at a CAGR of 6.36% between 2022 and 2027. The size of the market is forecast to increase by USD 4,054.71 million. The growth of the market depends on several factors, including aviation-friendly government initiatives in APAC, growing air passenger traffic, and increasing use of composites.
This report extensively covers market segmentation by type (narrow-body and wide-body), component (fuselage, wing, and empennage), and geography (Europe, APAC, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
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Technavio categorizes the global commercial airframe component market as a part of the global aerospace and defense market within the global capital goods market. The parent, global aerospace and defense market covers products and companies engaged in the production of aerial platforms used under commercial and general aviation; defense platforms used under naval, land, and air domains; arms and ammunition; defense electronics; defense logistics equipment; and space platforms, equipment, and launch vehicles. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growing air passenger traffic is notably driving the market growth, although factors such as high costs of compliance may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Commercial Airframe Component Market Driver
The growing air passenger traffic is notably driving the market growth. The primary reason for the growing number of air passengers across the world is the rapid economic development in emerging economies such as India, China, and Indonesia. Another reason for the increase in the number of air passengers is the growth in the global tourism industry. According to the latest data from the World Bank Group, the number of registered carrier departures worldwide showed a continuous increase throughout the last decade ending in 2019. The number of such departures increased from around 29.64 million in 2010 to over 37.46 million in 2019.
Other major factors which are expected to contribute to the increasing air passenger traffic are the expanding middle-class population in emerging economies, the growing inclination of this population group for air travel, and the rise in the global working-age population. Several aircraft carriers, therefore, are expanding their fleets. For instance, in January 2017, SpiceJet, an LCC based in India, placed an order for 100 new aircraft with Boeing due to the expected surge in passenger traffic in the subsequent few years. These factors have not only been fueling the manufacturing of commercial aircraft worldwide but have also been increasing the number of MRO activities for commercial aircraft. Hence, factors like this will propel the market's growth during the forecast period.
Significant Commercial Airframe Component Market Trend
The adoption of folded wings in commercial aircraft is an emerging trend in the market. The improvements in the designs of aircraft have led to the development of foldable wings for commercial aircraft. The new wing configuration allows the wings to be folded above the fuselage and, consequently, occupy less space inside a hangar.
Boeing, one of the leading global aircraft manufacturers, has been working on large-span, high-efficiency wing designs. The Boeing 777X boasts of a concise folding wingtip, and this design reduces the wingspan of the aircraft by 3.5 meters on each side (with an overall length reduction from 71.8 meters to 64.8 meters). However, the wingtips can be extended back into the horizontal position during take-off, thus providing an extended wingspan to increase the fuel efficiency of the aircraft. Boeing selected Liebherr-Aerospace to accomplish this technological innovation, and the latter will provide components, including latch pin actuators, fold subsystems, and secondary lock actuators. Such developments will have a positive impact on the growth of the market during the forecast period.
Major Commercial Airframe Component Market Challenge
The high costs of compliance are major challenges impeding market growth. Commercial aircraft use critical components that can be very complex and might require stringent adherence to the environmental regulations enacted in different countries. These rules can exist at the federal, state, and local levels. A list of authentication checks and certification processes has to be followed after all the aircraft systems have been integrated. The aerospace industry stakeholders are exposed to risks and liabilities related to the remediation of environmental hazards during the manufacturing process.
Commercial aircraft manufacturing companies are striving to engage in more environmentally benign approaches as there is an increase in focus on environmental sustainability. These companies are adopting new and innovative approaches to minimize greenhouse gas emissions during manufacturing processes. However, the additional costs incurred while complying with environmental and procedural norms can pose a challenge to the mass-scale production of certain airframe components, which, in turn, can have an adverse impact on the revenue of manufacturers and have a similar negative effect on the market in focus. Hence, such factors can hinder market growth during the forecast period.
Key Commercial Airframe Component Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Commercial Airframe Component Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
DAHER - The company operates under one segment. The company under this segment manufactures on manufacturing aircraft and service equipment suppliers. The key offerings of the company include commercial airframe components.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the narrow-body segment will be significant during the forecast period. Narrow-body aircraft have a single aisle inside the cabin, and the passengers are seated in two axial groups. They have a twin-engine setup, which is integrated into the wings to provide thrust. The demand for such aircraft is driven by the efficiency-focused operations of aircraft carriers in emerging and developed economies, where average load factors and seasonality play vital roles in determining their profit margins.
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The narrow-body segment was valued at USD 5,965.72 million in 2017 and continued to grow until 2021. Most low-cost carriers (LCCs) are trying to modernize their existing fleet to exploit new market opportunities to match the competencies of successive versions of aircraft. LCCs are adding seats to ensure optimum revenue per flight. In this regard, several carriers have reconfigured their fleet to include more seats and reduce the size of lavatories. For instance, JetBlue Airways Corp. (JetBlue) is increasing the seating capacity of its A320s from 150 seats to 162. The redesigned cabins of existing aircraft models must be tested for emergency situations. Therefore, all the components involved in the creation of partitions in the fuselage of aircraft are subject to flammability tests. Aircraft manufacturers, such as Airbus and Boeing, are aiming to increase their yearly production output to cater to the growing demand in the narrow-body segment. In May 2021, Airbus SE unveiled a plan to boost the production capacity of the Airbus A320 family narrow-body aircraft to 45 per month from 40 per month. Thus, owing to such factors the segment is expected to grow during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Europe has been at the forefront of commercial aviation innovations, especially the ongoing nanotechnology-based innovations that enhance metal-based components' lightweight and energy-efficiency characteristics. This offers a number of growth opportunities for local manufacturers and stakeholders in the regional market. The presence of prominent aircraft manufacturers, such as Airbus, in the region, is increasing the demand for aircraft.
According to The World Bank Group, in the EU, the number of international tourist departures surged from around 470.64 million in 2018 to more than 494 million in 2019. Considering the growth in the number of air passengers, air fleet operators are expanding their fleets to meet the high demand. For instance, in July 2019, Air France, a France-based air carrier, announced its plan to buy dozens of A220s aircraft from Airbus with the aim of replacing its aging aircraft fleet. Such an increase in the orders for commercial aircraft is likely to accelerate aircraft production in the region during the forecast period. Thus, an increase in aircraft production has been increasing the growth opportunities for associated component manufacturers and raw material suppliers. This will continue to increase the demand for commercial airframe components in the region, thus propelling the growth of the regional market over the forecast period.
In the EU, the European Aviation Safety Agency (EASA) is implementing EASA Part 145, a regulation that standardizes all MRO activities to ensure the optimum safety and efficiency of aircraft. Any components of airframes that are worn out or susceptible to wear and tear must be replaced. This also supports the growth of the regional market in focus. Meanwhile, European regulatory bodies are also focusing on reducing emissions from the aviation sector. With emission norms on aircraft expected to become more stringent, aircraft and aircraft component manufacturers are joining forces to develop advanced solutions that can reduce emissions from aircraft. Government bodies across the region are promoting advanced solutions to reduce emissions from aircraft. In July 2019, the Government of the UK announced a nearly USD 91.6 million investment in the development of net-zero aircraft and cars. The investment is expected to accelerate the development of new hybrid aircraft and electric vehicles. The focus of government bodies on reducing emissions is likely to encourage aircraft and associated component manufacturers to reduce the weight of such components. This is likely to increase the flow of investments into the R&D of advanced commercial airframe components over the forecast period, thus supporting the growth of the regional market in focus.
The COVID-19 pandemic adversely impacted the European aviation sector in 2020. However, during the forecasted period, the market will witness growth as governments in the region have removed the ban on international flights. Also, the COVID-19 vaccination programs conducted across the region have been effective in containing the pandemic, and a majority of the population were fully vaccinated by the end of 2021. Considering these factors, the demand for air travel increased in 2022, and thus airline carriers are expected to place more orders for commercial airframe components as a part of their retrofitting initiatives, thereby driving the growth of the market in focus in Europe during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Commercial Airframe Component Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 6.36% |
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Market growth 2023-2027 |
USD 4,054.71 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.95 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 33% |
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Key countries |
US, Canada, Germany, France, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aernnova Aerospace SA, Avion Alloys Inc., Bharat Forge Ltd., Commercial Aircraft Corporation of China Ltd., DAHER, Deutsche Lufthansa AG, Ferra Engineering Pty Ltd, Latecoere, Lisi Aerospace SAS, Melrose Industries Plc, Mitsubishi Heavy Industries Ltd., Precision Castparts Corp., RUAG International Holding Ltd., Sonaca SA, Spirit AeroSystems Holdings Inc., Thomas B. Thriges Foundation, Triumph Group Inc., Airbus SE, Eaton Corp. Plc, and The Boeing Co. |
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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, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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