HOME Research Insight Contracts Were the Key Strategy Adopted by Market Players to Enhance Business Prospects in the Aerostructures Market

Contracts Were the Key Strategy Adopted by Market Players to Enhance Business Prospects in the Aerostructures Market

The aerostructures market was valued at USD 52.17 Billion in 2016 and is projected to reach USD 75.97 Billion by 2022, at a CAGR of 6.47% from 2016 to 2022. Rise in aircraft deliveries and increase in outsourcing of aerostructure manufacturing by OEMs to tier 1 and tier 2 suppliers are factors anticipated to drive the growth of the aerostructures market during the forecast period.

Aerostructures provide rigidity and firmness to the entire aircraft. The use of composite materials to develop aerostructures helps reduce the overall weight of the aircraft and improves operational efficiency. This is expected to fuel the demand for composite aerostructures from commercial and general aviation aircraft manufacturers. Key manufacturers of aerostructures profiled in this report include UTC Aerospace Systems (U.S.), Leonardo S.p.A. (Italy), Triumph Group, Inc. (U.S.), RUAG Holding AG (Switzerland), Saab AB (Sweden), Cyient Limited (India), and AAR Corp. (U.S.), among others. These companies accounted for a major share of the aerostructures market. The companies listed above have their manufacturing facilities in regions, such as North America, Europe, and Asia-Pacific. They have signed long-term contracts and agreements with OEMs to enhance their market share and improve their market presence.

In 2016, RUAG Aerostructures (Switzerland), a subsidiary of RUAG Holding AG entered into a long-term contract with Airbus Group (Netherlands). This contact enabled RUAG to deliver fuselage structures for the Airbus A320 family.

UTC Aerospace Systems (U.S.), another key player in the aerostructures market, signed an agreement with Lufthansa Technik AG (Germany) for the Maintenance, Repair, and Overhaul (MRO) services of nacelle systems on the Rolls-Royce Trent XWB engines that power the twinjet of Airbus A350 XWB aircraft in 2016. In the same year, UTC Aerospace Systems signed a similar contract with IndiGo Airlines to provide nacelle asset support and Maintenance, Repair, and Overhaul (MRO) services for the airline's fleet of new Airbus A320neo (new engine option) aircraft.

In 2016, Leonardo S.p.A. (Italy) received a contract from Airbus Group (Netherlands) to produce aerostructures for the new configuration of Airbus A321, which is a twin-engine, single-aisle aircraft capable of carrying 185 passengers in the typical two-class configuration or up to 220 persons in the economy version.

Related Reports:

Aerostructures Market by Component (Fuselage, Empennage, Flight Control Surfaces, Wings, Nose, Nacelle & Pylon), Material (Composite, Alloys, Metals), End-Use (OEM, Aftermarket), Platform (Fixed & Rotary Wing), and Region - Global Forecast to 2022

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