Aircraft Strut Trends and Forecast
The future of the global aircraft strut market looks promising with opportunities in the commercial and military markets. The global aircraft strut market is expected to reach an estimated $5.1 billion by 2030 with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are growing demand for lightweight landing gear system, increasing air passenger traffic, and escalating demand for fuel-efficient aircraft.
• Lucintel forecasts that, within the product type category, rigid aircraft strut is expected to witness the highest growth over the forecast period.
• Within the end use category, commercial is expected to witness a higher growth over the forecast period.
• In terms of regions, North America is expected to witness highest growth over the forecast period.
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Emerging Trends in the Aircraft Strut Market
Technological advancements, altering industrial needs, and changing regulatory requirements are the major trends in the aircraft strut market today that stakeholders need to be aware of. All these trends impact the design and performance of aircraft in the future.
• Lightweight Materials: The use of lightweight composite materials in aircraft struts is increasing. These materials offer better strength-to-weight ratios, making them more fuel-efficient than conventional materials, thereby improving overall performance.
• Advanced Manufacturing Techniques: 3D printing or additive manufacturing and automated production methods are gaining acceptance. These techniques allow for precise manufacturing of complex designs at lower costs, thus reducing costs associated with the manufacturing process.
• Sustainability Focus: There is a growing emphasis on developing eco-friendly aircraft strut solutions. To reduce carbon emissions from the aviation industry, sustainable materials are being adopted and applied during production processes, as required by environmental legislation.
• Integration of Smart Technologies: The integration of sensors and monitoring systems into aircraft struts is advancing. These technologies allow for real-time tracking of strut conditions, thus improving safety while reducing maintenance time and losses due to breakdowns.
• Increased Customization: More manufacturers are now offering customized strut solutions to address individual performance and design requirements as customers demand more tailored options. This will ensure that each airplane has a unique strut manufactured according to specific operational needs or predetermined specifications assigned by specific airlines, such as Boeing or other competitors.
The emerging trends, such as lightweight materials, advanced manufacturing techniques, sustainability, smart technologies, and customization, are currently transforming the aircraft strut market. Through innovations driven by these trends, this industry sector can reach its full potential in terms of performance improvement and adaptation to the changing environment in which it operates.
Recent Developments in the Aircraft Strut Market
Materials, manufacturing processes, and technological innovations are key development areas in the aircraft strut market. These changes affect market dynamics.
• Use of Composite Materials: The momentum towards using composite materials for airplane struts is gaining ground. Such materials have enhanced power-to-weight ratios for improved aircraft performance and fuel efficiency.
• Technological Advancements in Manufacturing: The use of advanced production techniques, such as 3D printing and automated production lines, is increasing the efficiency and accuracy of aircraft strut manufacturing.
• Sustainability Initiatives: Aircraft strut manufacturers are increasingly focusing on developing green alternatives. As a result, they are investing more in sustainable practices that involve making products from environmentally friendly materials to comply with global environmental regulations and reduce carbon footprints in the industry.
• Global Expansion and Partnerships: Companies are forming strategic partnerships and expanding their global presence to enhance production capabilities and technology sharing. The aim of these collaborations is to improve product quality and increase market outreach.
• Innovation in Smart Technologies: For instance, the integration of sensors and monitoring systems into airplane struts is progressing through smart technologies. These technologies help track real-time performance, enabling predictive maintenance, which improves safety and operational efficiency in aircraft.
These product performances, including recent innovations like composite materials, advanced manufacturing techniques, sustainability, global partnership strategies, and smart technologies, among others, drive change in the aircraft strut market.
Strategic Growth Opportunities for Aircraft Strut Market
The aircraft struts market is full of strategic opportunities for growth across various applications. Recognizing these keys to success is crucial to ensure that stakeholders can focus on the developing trends to expand globally.
• Commercial Aircraft: The demand for lightweight and high-performance commercial aircraft struts in the aviation industry is expected to rise. Therefore, opportunities exist for manufacturers of new-generation aircraft to develop advanced materials and manufacturing processes.
• Military Aircraft: The military aviation sector offers room for specialized struts with superior durability and performance. Investment in modern aerospace technologies and advanced materials can address the stringent demands of military applications.
• Maintenance, Repair & Overhaul (MRO): The MRO market provides potential avenues for growth through innovative strut solutions and retrofitting services. In addition, there is a need for reliable, cost-effective replacements of quality struts in old aircraft fleets.
• Regional Aircraft: The regional airline business has a large market that needs customized strut solutions specifically designed to meet certain performance and design parameters. Opportunities also arise from the development of region-specific strut designs for regional aircraft models.
• Unmanned Aerial Vehicles (UAVs): The advent of UAVs marks a turning point in the manufacturing of winged braces used by airplane builders. Creating durable, lightweight struts for such equipment will support their wider application, both commercially and militarily.
Commercial airliners, military airplanes, MRO services, regional jets, and UAVs have many untapped growth prospects. These potentials, if harnessed effectively, will foster innovation and expansion within various markets.
Aircraft Strut Market Driver and Challenges
Various elements influence the aircraft strut market, including technological advancements, economic factors, and regulatory requirements. Navigating market dynamics and understanding these elements is vital.
The factors responsible for driving the aircraft strut market include:
• Technological Advancements: The use of new materials and manufacturing techniques has led to increased growth in this market. Technology adoption, such as additive manufacturing and the use of composite materials, has improved performance and reduced production costs.
• Increasing Aircraft Demand: Global air travel growth is driving demand for new and upgraded aircraft, leading to a need for advanced aircraft struts that enable these planes to perform better and remain safe.
• Focus on Fuel Efficiency: A key aspect of the aviation industry is fuel efficiency, which encourages the manufacture of lightweight aircraft struts. Using advanced strut materials to reduce aircraft weight contributes to lowering fuel consumption and emissions.
• Sustainability Initiatives: Sustainable practices are being advocated for in aviation. Manufacturers are investing in eco-friendly materials and production processes that comply with environmental regulations while targeting consumers who care about the environment.
• R&D Investment: More investments are being made in research and development, driving innovation in aircraft strut technology. While enhancing performance, durability, and functionality, R&D initiatives have led to the production of advanced products, increasing variety.
Challenges in the aircraft strut market include:
• Regulatory Compliance: Navigating complex regulatory requirements for aerospace components can be challenging. Adhering to safety rules and quality standards requires significant investments, both monetary and in terms of experience.
• High Production Costs: Advanced 3D printing technology can lead to high costs since it uses expensive raw materials. Managing production costs while maintaining product quality is a challenge for market players.
• Supply Chain Disruptions: Disruptions in the supply chain, such as raw material shortages or logistics problems, may trigger changes within firm operations or affect overall supply.
The aircraft strut market is influenced by drivers such as technological advancements, increasing aircraft demand, fuel efficiency, sustainability, and R&D investment, among others. Challenging aspects, on the other hand, include regulatory compliance, high production costs, and supply chain disruptions. Addressing these factors is crucial for market success and growth.
List of Aircraft Strut Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aircraft strut companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the aircraft strut companies profiled in this report include-
• Birken Manufacturing
• Circor Aerospace
• Malabar
• PCC Aerostructures
• Bansbach Easylift
• Crompton Technology Group
• New Brow Aerospace
• wicks aircraft
• Fiber Dynamics
• Robart
Aircraft Strut by Segment
The study includes a forecast for the global aircraft strut by product type, aircraft body type, operation, end use, and region.
Aircraft Strut Market by Product Type [Analysis by Value from 2018 to 2030]:
• Rigid Aircraft Struts
• Spring Steel Aircraft Struts
• Shock Struts
• Bungee Cords
Aircraft Strut Market by Aircraft Body Type [Analysis by Value from 2018 to 2030]:
• Small Body Aircraft
• Wide Body Aircraft
• Very Large Body Aircraft
• Regional Aircraft
Aircraft Strut Market by Operation [Analysis by Value from 2018 to 2030]:
• Hydraulic
• Pneumatic
Aircraft Strut Market by End Use [Analysis by Value from 2018 to 2030]:
• Commercial
• Military
• Others
Aircraft Strut Market by Region [Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Aircraft Strut Market
The market for aircraft struts is changing due to technological progress, industry changes, and regional dynamics. These developments are aligned with the growing concern for performance, safety, and innovation in the aerospace sector.
• United States: The US has made significant investments in lightweight materials and advanced manufacturing processes to make aircraft struts. Consequently, firms are now focusing on structural integrity and fuel efficiency, driven by the increasing demand for next-generation airplanes and eco-friendly aviation technology.
• China: China is increasing its production capacity of aircraft struts to meet the needs of a rapidly expanding domestic aviation market. It has recently adopted automated production methods and partnered with international aerospace companies to enhance its technology and quality standards.
• Germany: Germany has taken a leading role in developing composite materials used for aircraft struts that aim to reduce weight while enhancing durability. The objective is to incorporate these state-of-the-art materials into new designs for planes or retrofits, thereby improving overall performance and safety.
• India: Growth is occurring in the Indian market for aircraft struts, driven by an increase in aerospace manufacturing investment and maintenance facilities. This move toward indigenous technologies is helping India improve its ability to produce top-notch aircraft struts through collaborations with global players.
• Japan: Precision engineering and performance optimization are driving Japan toward more advanced aircraft strut technology. The incorporation of advanced materials into high-tech manufacturing techniques supports the nationÄX%$%Xs continual efforts to achieve greater efficiency in air transportation systems, resulting in lower operational expenses.
Features of the Global Aircraft Strut Market
Market Size Estimates: Aircraft strut market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Aircraft strut market size by various segments, such as by product type, aircraft body type, operation, end use, and region in terms of value ($B).
Regional Analysis: Aircraft strut market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, aircraft body types, operations, end uses, and regions for the aircraft strut market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the aircraft strut market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the aircraft strut market size?
Answer: The global aircraft strut market is expected to reach an estimated $5.1 billion by 2030.
Q2. What is the growth forecast for aircraft strut market?
Answer: The global aircraft strut market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the aircraft strut market?
Answer: The major drivers for this market are growing demand for lightweight landing gear system, increasing air passenger traffic, and escalating demand for fuel-efficient aircraft.
Q4. What are the major segments for aircraft strut market?
Answer: The future of the aircraft strut market looks promising with opportunities in the commercial and military markets.
Q5. Who are the key aircraft strut market companies?
Answer: Some of the key aircraft strut companies are as follows:
• Birken Manufacturing
• Circor Aerospace
• Malabar
• PCC Aerostructures
• Bansbach Easylift
• Crompton Technology Group
• New Brow Aerospace
• wicks aircraft
• Fiber Dynamics
• Robart
Q6. Which aircraft strut market segment will be the largest in future?
Answer: Lucintel forecasts that rigid aircraft strut is expected to witness the highest growth over the forecast period.
Q7. In aircraft strut market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the aircraft strut market by product type (rigid aircraft struts, spring steel aircraft struts, shock struts, and bungee cords), aircraft body type (small body aircraft, wide body aircraft, very large body aircraft, and regional aircraft), operation (hydraulic and pneumatic), end use (commercial, military, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Aircraft Strut Market, Aircraft Strut Market Size, Aircraft Strut Market Growth, Aircraft Strut Market Analysis, Aircraft Strut Market Report, Aircraft Strut Market Share, Aircraft Strut Market Trends, Aircraft Strut Market Forecast, Aircraft Strut Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.