Aerostructure equipment are components of an aircraft’s airframe including flight control surfaces, fuselage, and wings. Aerostructure equipment is not just confined to the airline as military planes and helicopters require aerostructure equipment to remain running all the time. Mechanical testing of an individual or complete aerospace structures are carried out on a universal testing machine including tests like tensile, flexure, compression, fatigue and impact.
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A recent study by Fact.MR foretells the global aerostructure equipment market to record an expansion rate of over 1.5% over the forecast period of 2019 – 2027. The global aerostructure equipment market is driven by the increased deliveries of commercial aircraft around the globe. With the increase in the number of passengers flying each year, there has been significant growth within the commercial aviation industry in the deployment of commercial aircraft.
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North America is anticipated to contribute to the largest market share in the global aerostructure equipment market due to the presence of leading aircraft manufacturers such as Boeing, Lockheed Martin, and Bombardier as the number of aircraft production increases and the demand is being powered by several global elements.
The primary trend that will most probably be impacting the competitive dynamics of the market is expected to shift the manufacturing of aerostructure equipment from significant players to OEM’s. In the year 2018, several highly valued mergers and acquisitions were witnessed in the aerostructure equipment industry as major vendors acquired other small and medium scale vendors to capture a large portion of the market.
However, this trend has led Boeing and Airbus to increasingly backward integrate themselves by accepting crucial components, including aerostructure materials for their upcoming programs. Several research and development activities in the field of aerostructure equipment have resulted in the formation of numerous composite materials which are almost 20% lighter than conventional aircraft materials. However, the use of FSW aluminum, an alloy which is bulkier is more prominently used in aerostructure equipment due to exact precision crafting.
Commercial Aircraft and Helicopters to Garner the Leading Shares
The International Air Transport Association forecasts the number of passengers being transported by airlines to grow by over 6% within the next decade. Such a surge of travelers by air requires the production of more number of aircraft invariably uplifting the demand for aerostructure equipment. The world’s foremost aircraft manufacturers are anticipating blue skies for the global aviation industry within the next two decades.
According to Boeing, a multinational designer, and manufacturer of airplanes and rotorcraft, predicts the passenger and freighter fleet to expand from 21,000 to 40,000 aircraft with 37,000 new airplanes during the forecast period. Most of the growth mentioned above are expected to be single-aisle airplanes. Such steady development figures are expected to drive the global aerostructure equipment market during the forecast period of 2019 to 2027.
One cited reason for the improvement in the latest aircraft market is the substitution of aging aircraft, especially in North America. European multinational aerospace corporation, Airbus SE, have projected a 20-year demand for nearly 12,000 passenger single-aisle aircraft to be replaced, which demands the utilization of aerostructure equipment.
Read More Trending Reports of Fact.MR – http://www.globenewswire.com/en/news-release/2019/09/03/1909726/0/en/Lightweight-Structural-Material-Gaining-Prominence-in-Aerostructure-Equipment-Market-Finds-Fact-MR.html
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