Aerostructure equipment are aircraft components, which are crucial to the airframe of the aircraft, and include a wide range of items including wings, control surfaces, and the fuselage. The high safety standards and regulations of the industry has increasingly resulted in high usage of mechanical testing, which includes factors such as impact, tensile, compression, flexure, and fatigue.
The global market for aerostructure equipment is expected to rise at a sluggish CAGR of 1.5 per cent through the forecast period through 2019-2027. This growth can be attributed to the increased number of aircraft deliveries on a global scale. In addition, the demand for such equipment arises not only from the commercial aircraft and helicopters, but also from military aircraft as well, and is expected to sustain the growth for the foreseeable future.
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Tech Innovations Drive New Developments in Industry
The global aerostructure equipment industry is populated by a number of major participants including KUKA Systems, Broetje Automation, GmbH, Reel, Ascent Aerospace, Sener Group, Loxin, MTorres Disenos Industriales, and ElectroImpact Inc. among others.
However, in recent times, there has been substantial transition in the manufacturing of the equipment from these major players to original equipment manufacturers. This trend has resulted in an increased number of mergers and acquisitions, to consolidate the position of major players such as Boeing and Airbus in comparison to medium and small scale competitors.
These consolidation movements have reduced the power of original equipment manufacturers to bargain a better deal. As major organizations raise their margins, OEMs have started to push back by increasingly producing key aircraft components in-house.
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Original equipment manufacturers are also pushing efforts to increase automation capabilities to boost the quality of the offerings while reducing production costs. Equipment manufacturers have also been working to increase collaborations with robotics tech vendors, to innovate in their end products.
Commercial Aircraft and Helicopters Key to Demand
The popularity of aircraft as a means of travel is expected to rise rapidly in the coming years. The surge of air travelers has generated a demand for additional aircraft to boost the demand for aerostructure equipment. Most major aircraft manufacturers are anticipating a positive rate of growth for the foreseeable future. These steady rates of growth are expected to drive the worldwide market for aerostructure equipment till 2027.
One of the key factors behind the growing demand for new aircraft is the rising need to replace aging commercial fleets, most of which are expected to be single aisle aircraft, which in turn will increase the need and use of aerostructure equipment.
The demand for aerostructure equipment is expected to stay especially high in North America, which can be attributed to the presence of numerous major aircraft manufacturer including Bombardier, Boeing, and Lockheed Martin among others. On the other hand, factors such as concerning geopolitical situations, and increased route consolidation have been restricting the industry. This trend is expected to continue, even as changes in processes, materials, and designs have pushed the industry to grow faster.
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