The Commercial Airframe Component Market to grow by USD 5.65 Billion from 2024-2028, driven by aviation-friendly policies in APAC, AI powered report- Technavio

NEW YORK, Sept. 19, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global commercial airframe component market  size is estimated to grow by USD 5.65 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.02%  during the forecast period.  Aviation-friendly government initiatives in APAC is driving market growth, with a trend towards emergence of 3D printing. However, delays in aircraft delivery  poses a challenge. Key market players include Aernnova Aerospace SA, Airbus SE, Avion Alloys Inc., Bharat Forge Ltd., Commercial Aircraft Corporation of China Ltd., DAHER, Deutsche Lufthansa AG, Eaton Corp. Plc, Ferra Engineering Pty Ltd, Latecoere, LISI Group, Melrose Industries Plc, Mitsubishi Heavy Industries Ltd., Precision Castparts Corp., RUAG International Holding Ltd., Sonaca SA, Spirit AeroSystems Inc., The Boeing Co., Thomas B. Thriges Foundation, and Triumph Group Inc..

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Key Market Trends Fueling Growth

Additive manufacturing, also known as 3D printing, is a revolutionary technology that builds 3D objects by adding layers of material on top of each other, using digital model data from CAD files or AMF. Unlike traditional manufacturing methods, which remove material from a stock, this technique improves part quality with better accuracy and surface finish, while reducing support volume, contact area, and build time. 3D printing plays a crucial role in the aerospace industry, particularly for commercial airframe components. The miniaturization of parts necessitates stringent quality requirements, making CAD/CAE/CAM software essential for virtual prototyping and evaluation before actual testing. Popular software like CATIA V5, Solid Works, MATLAB, SIMULINK, Flow works, NASTRAN, ABAQUS, Hypermesh, and Ansys Fluent facilitate this process. The adoption of 3D printing for manufacturing commercial airframe components is expected to increase significantly during the forecast period, driving the market's growth. 

The commercial airframe component market is experiencing significant growth due to the increasing demand for new commercial aircraft and the need to maintain and upgrade existing fleets. Key materials used in airframe components include aluminum alloys, titanium, and composites. Sustainability and fuel efficiency are major trends in the aviation industry, leading to the use of lightweight materials like carbon composites, titanium alloys, and aluminum lithium alloys. Airlines are focusing on lower maintenance costs and operational efficiency, leading to an increased demand for replacement parts, accessories, and components and systems. New commercial aircraft are being designed with advanced technologies like 3D printing and connectivity for new routes and improved aircraft performance. Regulatory requirements, safety, reliability, and efficiency are top priorities, with components ranging from engines and avionics to landing gear and electrical systems. Third-party manufacturers play a crucial role in providing cost-effective solutions for wear and tear and aircraft downtime. Upgrading existing systems is also a significant trend to meet the evolving needs of the aviation industry. 

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Market Challenges

• In the dynamic aviation industry, commercial airframe component manufacturers face mounting pressures to meet escalating demand, budget constraints, and tight delivery schedules. The growth in passenger traffic and emerging economies' growth lead to increased orders for new and refurbished aircraft. Fuel-efficient aircraft and aging fleets further boost demand. However, maintaining high-quality components amidst these challenges can be difficult. Delays in component manufacturing can result in order cancellations, causing substantial losses for all stakeholders. Strict government regulations ensure safety but add to costs. Airframe components, designed for specific aircraft, make cancellations or changes detrimental to vendors. These factors may hinder the growth of the commercial airframe component market during the forecast period.
• The Commercial Airframe Component Market faces several challenges in the context of the evolving air travel industry. Aluminum lithium alloys, used in airframe manufacturing, present complexities in terms of cost and supply. The LCC business model demands lower maintenance costs and operational efficiency, leading to increased pressure on component replacement and upgrading existing systems. 3D printing offers potential solutions for custom parts, but regulatory requirements and safety concerns must be addressed. New routes and connectivity necessitate reliable components and systems, including engines, avionics, landing gear, electrical systems, and interior components. Wear and tear, aircraft downtime, and regulatory compliance are ongoing challenges. Third-party manufacturers play a crucial role in providing replacement parts and accessories, while aircraft leasing and exchange programs help manage fleet costs. Upgrading systems for enhanced safety, efficiency, and aircraft performance is essential, but stringent regulations and safety concerns necessitate careful planning and implementation. Cost reduction and value for money are key considerations, with e-commerce channels and new technologies offering potential solutions. Aircraft retirements and longevity also impact the market, as older fleets require more maintenance and replacement parts. Overall, the Commercial Airframe Component Market must balance safety, reliability, and cost-effectiveness to meet the demands of the ever-evolving air travel industry.

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Segment Overview 

This commercial airframe component market report extensively covers market segmentation by

1. Type 
• 1.1 Narrow-body
• 1.2 Wide-body
2. Component 
• 2.1 Fuselage
• 2.2 Wing
• 2.3 Empennage
3. Geography 
• 3.1 Europe
• 3.2 APAC
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Narrow-body-  The Commercial Airframe Component Market refers to the industry that manufactures and supplies components for the fuselage, wings, and other structural parts of commercial aircraft. Companies in this market produce and sell components such as landing gear, engines, and wings to airlines and maintenance, repair, and overhaul (MRO) providers. This market is driven by increasing air travel demand, fleet expansion, and the need for component replacement and upgrades. Manufacturers focus on cost reduction, innovation, and after-sales service to remain competitive.

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Research Analysis

The Commercial Airframe Component market encompasses the production and supply of various components and systems for commercial airframes, including fuselage, wings, tail assemblies, and other structural parts. These components are primarily made of materials such as aluminum alloys, titanium, composites, and high strength steel. The aviation industry's focus on sustainability and fuel efficiency has led to increased demand for lightweight and durable materials like carbon composites, titanium alloys, and aluminum lithium alloys. New commercial aircraft and upgrading existing systems are significant drivers for market growth. Air travel remains a key industry, with airlines continually seeking to improve aircraft performance while adhering to regulatory requirements and prioritizing safety. Technological advancements, such as 3D printing, are also transforming the market landscape.

Market Research Overview

The Commercial Airframe Component market encompasses the production and supply of various components and systems for commercial airframes, including fuselage, wings, tail assemblies, and more. These components are primarily made from materials such as aluminum alloys, titanium, composites, and high strength steel. The aviation industry's focus on sustainability and fuel efficiency drives the use of advanced materials like carbon composites, titanium alloys, and aluminum lithium alloys. New commercial aircraft and LCC business models require lower maintenance costs, operational efficiency, and connectivity, leading to an increased demand for replacement parts and accessories. Components and systems include engines, avionics, landing gear, electrical systems, interior components, and more. Third-party manufacturers play a crucial role in supplying these components, ensuring regulatory requirements are met for safety and reliability. Wear and tear, aircraft downtime, and stringent regulations are ongoing challenges for the market. New technologies like 3D printing and exchange programs offer cost reduction and value for money. The market is influenced by factors such as air traffic, aircraft fleets, aircraft leasing, and retirements, with safety concerns remaining a top priority. E-commerce channels are transforming the way components are bought and sold, offering convenience and cost savings.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Narrow-body
• Wide-body
• Component
• Fuselage
• Wing
• Empennage
• Geography
• Europe
• APAC
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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