With sustainability as a key tool, the commercial aerospace industry is enhanced by innovative technologies
SAN ANTONIO, Dec. 27, 2022 /PRNewswire/ -- Aerostructure suppliers are collaborating with technology companies to propel the aircraft aerostructures sector by leveraging cutting-edge technologies, according to Frost & Sullivan's recent analysis of the global commercial aircraft aerostructures industry. The move improves business operations and opens new aftermarket opportunities for aircraft original equipment manufacturers (OEMs). The global market for commercial aircraft aerostructures is expected to grow at an 8.4% compound annual growth rate to $109.06 billion by 2032, up from $45.40 billion in 2021.
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"Sustainability is vital to enhance innovation in the commercial aerospace industry," said Nripendra Bahadur Singh, Aerospace & Defense Research Analyst at Frost & Sullivan. "Additionally, increased composite usage in aircraft engines and aerostructures is a focus area in commercial aircraft."
Singh added: "Asia-Pacific (APAC) has the highest aircraft orders over the forecast period because the airlines must expand fleet capacity to compensate for increased air travel demand. Further, airlines' plan to retire older aircraft to avoid their higher maintenance costs will trigger demand for aircraft in the North American market."
The changing landscape of the aircraft aerostructures sector with technology innovation will present massive growth opportunities for market participants, including:
- Composite aerostructures for narrowbody aircraft: Aerostructures suppliers should create a business case for commercial aircraft OEMs, showing that increased composite usage in aerostructures will reduce narrowbody aircraft weight.
- Low-cost manufacturing facilities in India: Aerostructures suppliers should provide the technology transfer expertise and help local partners manufacture products in the first phase of production to show their required quality standards.
- Partnership with all-electric aircraft manufacturers: Aerostructures suppliers must collaborate with electric aircraft manufacturers to help design the optimal aircraft.
Global Commercial Aircraft Aerostructures Growth Opportunities is the latest addition to Frost & Sullivan's Aerospace & Defense research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Global Commercial Aircraft Aerostructures Growth Opportunities
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