Commercial Airframe Component Market Analysis Europe,APAC,North America,Middle East and Africa,South America - US,Canada,Germany,France,UK - Size and Forecast 2023-2027

Commercial Airframe Component Market Forecast 2023-2027

The commercial airframe component market is estimated to increase by USD 4,054.71 million, at a CAGR of 6.36% between 2022 and 2027. 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. 

It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

What will be the size of the Commercial Airframe Component Market during the Forecast Period?

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Commercial Airframe Component Market Dynamics and Customer Landscape

The growing air passenger traffic is notably driving the market growth, although factors such as high costs of compliance may impede the market expansion. 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 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 development 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 that 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 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 airplanes worldwide but have also been increasing the number of MRO activities. Hence, factors like this will propel the market's growth during the forecast period. 

Significant 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 planes 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 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 airplane. 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 expansion of the market during the forecast period.

Major Market Challenge

The high costs of compliance are major challenges impeding market growth. These 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 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.

These 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 Market Customer Landscape

The market research 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 expansion strategies.

Market Customer Landscape

Who are the Major Companies?

Companies 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 companies, including:

• Aernnova Aerospace SA
• Avion Alloys Inc.
• Bharat Forge Ltd.
• Commercial Aircraft Corporation of China Ltd.
• 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
• The Boeing Co.

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Market?

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 driven by the efficiency-focused operations of 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.

Key Regional Analysis

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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 development opportunities for local manufacturers and stakeholders in the regional market. The presence of prominent 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 expansion 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 fleet. Such an increase in the orders for commercial jets is likely to accelerate production in the region during the forecast period. Thus, an increase in production has been increasing the development 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 expansion of the regional market over the forecast period.

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027. 

• Type Outlook (USD Million, 2017 - 2027)
  • Narrow-body
  • Wide-body

• Component Outlook (USD Million, 2017 - 2027)
  • Fuselage
  • Wing
  • Empennage

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

Market Analyst Overview 

The market is driven by the demand for fuel-efficient aircraft with short-takeoff-and-landing capability. These airplanes require specialized components such as loading ramps, airdrop capability, and paratroop doors to enhance their operational flexibility. With a focus on reducing greenhouse gas (GHG) emissions and increasing air freight volume, the market is poised for growth, driven by economic growth in emerging countries. Both the commercial aerospace and defense sectors are investing in new technologies to reduce operational costs and improve performance. The market is a crucial segment within the aerospace and defense industry, influenced by factors like transportation needs and defense spending. As the industry emphasizes the efficiency of planes, there's a growing trend toward airplane replacement and upgrading, driving market concentration and competition. The aerospace defense sector is witnessing a shift from traditional materials to advanced ones, impacting various components such as aerostructures, door pairings, and landing gear.

Technological advancements in materials like lightweight materials and fiber-reinforced composite materials, as well as manufacturing techniques like additive manufacturing (3D printing), are reshaping the industry. Key players like Lockheed Martin are leading the way in developing durable assets and new-generation airplane, driving the need for fleet replacement and airplane overhaul and rebuilding services. The market's competitiveness is based on product performance, customer specifications, timely delivery, and customer service & support. Competitive benchmarking and regional opportunities shape the market dynamics, reflecting the latest trends in airplane manufacturing. Innovation is evident in the prototypes, conversion equipment, and safety and support systems. The airframe component market covers a wide range of elements, including the air management system, actuation control system, avionics, fly-by-wire and fly-by-night flight controls, and various communication and monitoring systems. With a focus on both the commercial segment and freight traffic, the market contributes significantly to cargo services, making it an integral part of the aviation industry's evolution.

Market Scope
Report Coverage	Details
Page number	166
Base year	2022
Historic period	2017 - 2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 6.36%
Market growth 2023-2027	USD 4054.71 million
Market structure	Fragmented
YoY growth 2022-2023(%)	6.95
Regional analysis	Europe, APAC, North America, Middle East and Africa, and South America
Performing market contribution	Europe at 33%
Key countries	US, Canada, Germany, France, and UK
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
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.
Market dynamics	Parent market analysis, Market forecasting, 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 Commercial Airframe Component Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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