Market Highlights
The global Aerostructures Market has been segmented on the basis of component, material, platform, end use, and region.
Based on component, the market has been segmented into fuselage, empennage, flight control surfaces, wings, nose, nacelle and pylon, and others. The fuselage segment was the largest segment in 2018 and empennage segment is projected to be the fastest-growing during the review period. The use of composite materials in manufacturing aircraft empennage is expected to stimulate market growth. Furthermore, investments in design improvements of empennage are projected to drive market growth during the forecast period.
By material, the global aerostructures market has been classified as composite, alloys, and metals. The metals segment was the largest segment in 2018. The composite segment is estimated to be the fastest growing segment during the review period. The growth of the composite segment is attributed to various OEMs investing in the development of lightweight materials.
On the basis of end use, the global aerostructures market has been classified as OEMs and aftermarket. OEM segment was the largest segment in 2018. The aftermarket segment is expected to register the higher CAGR during the forecast period due to the low prices of aerostructure products offered by aftermarket players. Furthermore, aftermarket players provide services such as maintenance, repair, and replacement, which is expected to encourage the growth of the segment during the forecast period.
By platform, the global aerostructures market has been divided into rotor wing and fixed wing. The fixed wing aircraft segment was the larger segment in 2018 and is expected to be the fastest growing segment during the review period. The growth of fixed wing aircraft segment to the growing demand for UAVs in the military.
Based on region, the global aerostructures market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America was the largest regional segment in 2018 and is estimated to be the fastest-growing regional market during the forecast period. High passenger traffic in the region is expected to drive the market growth in North America.
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