Global Aerostructure Equipment Market: An Overview
Aero structure is a key component of the build-up of aircrafts. These equipment include components which are used in the assembly of wings, airframe, flight control surfaces, and fuselage as well. The companies manufacturing these components need to be highly specialised in their aircraft and often carry a diversified portfolio to build aero structures. The recent advancements in nano-technology has been a major boost for these manufacturers, as these components allow aircrafts to reduce their weight and subsequently, fuel usage. The key demand for alloys like aluminium in aircraft wings, and other components are expected to drive significant growth for the aerostructure equipment market in the near future.
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Aerostructure Equipment Market: Notable Development
The industrial production of B787 and A350 has been a major boon for the aerostructure equipment market. Additionally, countries like China are expected to drive robust demand. According to news sources, China’s civil airline industry is in need of another 7630 aircrafts in the next 20 years. Moreover, recent news report also suggest that the new manufacturing facility for these aircrafts are highly automated, which would drive significant cost-savings in the long run. This is also expected to spur growth of new materials, which are in line with the needs of the new assembly system.
In November, 2019, Airbus Signed a pact with China’s national development and reform commission of China to build more single-isle and wide body aircraft in China. The new body craft will create significant opportunities as demand for single-aisle aircrafts rise, and creates new potential market for low-cost airliners. Moreover, the different bodies used for these aircrafts will also create new potential for innovation and lucrative opportunities for players in the aerostructure equipment market.
Aerostructure Equipment Market: Drivers and Restraints
The aerostructure equipment market is expected to witness major growth as demand for new aircrafts in the US, China, and India continues to rise. The growth of global travel, commerce, and emergence of low-cost airlines are expected to emerge as key trend driving the aersotructure equipment market. Moreover, the rise of low-cost airlines will also be furthered by material advancements like nano-materials which are reducing costs of operations and creating more opportunities for global convergence. The growth of the aircrafts in the Asia Pacific region will provide a major boost for the aerostructure equipment market.
IndiGo, one of India’s largest players in aviation sector has placed an order for 300 A320neo family aircraft. Orders like these are becoming commonplace as countries compete to get a bigger share of global travel and commerce. Additionally, the growth of infrastructure projects in emerging nations will also fuel growth of the aerostructure equipment market. The growing use of composite materials, and increasing number of aircrafts will likely spur growth of aero structure equipment market. the evolution of 3D printing will also create new opportunities for growth with lightweight parts, and functioning designs.
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