Aero Wing Market Forecasts to 2028 – Global Analysis By Material (Alloys, Metal), Product (Military Aircraft Wing, Regional Aircraft Wing), End User (Commercial, Military) and By Geography
According to Stratistics MRC, the Global Aero Wing Market is accounted for $20.35 billion in 2020 and is expected to reach $46.56 billion by 2028 growing at a CAGR of 10.9% during the forecast period. The growing defense budget and rising usage of composite components to procure aircraft wings are the factors driving the market growth. However, the backlog of commercial aircraft is hampering the market growth.
Aero wing is a technologically advanced fin that produces lift while moving through the air. It has a streamlined cross-section, which follows aerodynamic forces and reacts as airfoils. Wings are the basic component of an aircraft to fly.
Based on the end user, the commercial segment is going to have lucrative growth during the forecast period. This growth is mainly attributable to the speedily expanding utilization of commercial aircraft by low-cost carriers in India and China.
By geography, North America is going to have high growth during the forecast period as the region is home to a large number of aviation giants such as Lockheed Martin and Raytheon. These behemoths have been investing heavily in advanced wing technologies.
Some of the key players profiled in the Aero Wing Market include Airbus UK, AVIC XCAC, GKN Aerospace Service Ltd, Mitsubishi Heavy Industries, Sonaca Group, Spirit AeroSystems Inc, and Triumph Group.
Estimated Market Size in 2020:
USD 20.35 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 46.56 billion
Tables, Graphs& Figures
Material, Type of Builds, Product, End User, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Type of Builds Covered:
• Composite Skin Fabrication
• Conventional Skin Fabrication
• Military Aircraft Wing
• Narrow-Body Aircraft Wing
• Regional Aircraft Wing
• Wide-Body Aircraft Wing
End Users Covered:
• Civil Aviation
Sales Channels Covered:
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Aero Wing Market is majorly driven by increasing defense budget of china to adopt fifth generation fighter jets, rising usage of composite components, and new technological innovations.
The commercial segment is growing at a highest CAGR due to the increasing demand from emerging economies.
North America dominated with a significant market share due to the strong presence of aircraft original equipment manufacturers (OEMs) in the US and Canada.
Asia Pacific market is growing at a highest CAGR due to the increasing expenditure on defense technologies and equipment by China and India.
Key players in Aero Wing Market include Airbus UK, AVIC XCAC, GKN Aerospace Service Ltd, Mitsubishi Heavy Industries, Sonaca Group, Spirit AeroSystems Inc, and Triumph Group.
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