As cited by the research report titled ‘Aerostructures Market Size By Component (Nacelles & Pylons, Doors, Fuselage, Empennage, Wings), By Material (Metal, Composite, Alloys), By Aircraft (Commercial [Narrow-body, Wide-body], Regional, Business, Military, Helicopter), By End-user (Line Fit, Retrofit), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report, global aerostructures market is projected to expand significantly over 2021-2027.
 

Increasing requirement for maintenance & repair in aircrafts, expanding economic activity, along with growing demand for air travel services mainly from emerging economies are the major factors driving the global aerostructures market growth. Moreover, rising demand for UAVs in defense & military operations is positively swaying the industry dynamics.
 

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For the record, aerostructures are defined as parts or components of the body frame of the aircraft such as wings, fuselage and flight control deck. Mostly all the components required for a plane to fly fall under this category.
 

Based on component range, the industry is segmented into nacelles & pylons, fuselage, doors, empennage, and wings including others. Among these, the doors segment is anticipated to grow with a CAGR of 3.5% over the analysis period owing to growing maintenance & repair activities.
 

Considering aircraft type, commercial, business, regional, military, and helicopter are the key segments covered in global aerostructure market report. Among these, the business aircraft segment is anticipated to expand with 3% CAGR through 2027, owing to greater preference from ultra-high net worth individual for travel.
 

As cited in the report, the commercial aircraft segment is further categorized into narrow body and wide body. Among these, the narrow body aircraft segment is likely to record considerable growth over the forecast timeline on account of increasing air travel especially from emerging economies.
 

The geographical analysis of this industry extends to North America, Middle East & Africa, Asia Pacific, Europe, and Latin America.  Expert analysts speculate that Middle East & Africa market is likely to witness steady growth through 2027, on account of expanding economic activity in the region.
 

Prominent players influencing worldwide aerostructures market trends are Park Electrochemical Corp, United Technologies Corporation, GE Aviation, Safran S.A, Elbit Systems Ltd., Mahindra Aerostructures Pvt Ltd, Triumph Group Inc., Stelia Aerospace, GKN Ltd., Cyient Ltd., Leonardo S.p.A., Saab AB, AAR Corp., Collins Aerospace, and Spirit AeroSystems Inc.
 

Many companies are recently focusing on various growth strategies like new product launches, product approvals, and collaborations, resulting to an increase in the customer base and expansion of the business. For instance, CPI Aerostructures Inc., in March 2021, announced to have received an order from Lockheed Martin Corporation to manufacture structural assemblies for production of the new F-16 Block 70/72 aircraft, which is one of the latest and advanced F-16 production configurations.