Aerospace Control Surface Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2342
Aerospace Control Surface Market size is expecting strong growth owing to increasing demand of commercial and defense aircrafts. Positive outlook for the product to offer superior control and allowing pilot to adjust aircraft flight altitude will drive the overall aerospace control surface market share from 2017 to 2024.
Development of new aircrafts with increasing usage of composites offering superior efficiency and enhancing the safety will support the overall industry growth. Unending demand of commercial and defense aircrafts with higher backlog on the supply side of the product will enhance the opportunity for the component manufacturers over the forecast timeline.
Lower processing time, decreased cycle time and reduced processing cost has positively influenced the aerospace control surface market growth. Growing outsourcing trend in aerospace sector, offering service readiness and decreasing overall cost of the product are further enhancing the business growth.
Aerospace control surface market can be segmented based on the aircraft as commercial, general aviation and military aircraft. Increasing flight affordability has fueled passenger density supporting the product demand. In addition, rising passenger traffic owing to growth in tourism and travel will augment the demand for aerospace control surface market share from commercial aircraft.
Consistent growth in defense budget supporting demand of military aircrafts will further boost the aerospace control surface market demand. The U.S. defense budget was valued at over USD 800 billion in 2016, contributing highest budget across the globe supporting the product growth.
Aerospace control surface market can be segmented based on surface as primary and secondary. Primary control surface is designed to provide adequate responsiveness to control inputs allowing natural balancing of aircraft. Depending on the air speed affects the response time of the aircraft. Secondary control surface complements the primary system allowing pilot for superior aircraft control which includes wing flaps, spoilers, leading edge devices, and trim systems.
Aerospace control surface market can be segmented based on product as rudder, ailerons, slats, elevators, spoilers and flaps. Spoilers are found on fixed wing aircraft deployed to reduce lift and increase drag of aircraft. These are used during landing by controlling the rate of descent improving braking effectiveness. Flaps are high lift devices used on aircraft to compromise between low landing speed and high cruising speed.
Aerospace control surface market can be segmented based on material as aluminum, and composites. Composites is expected to witness robust growth during the forecast timeframe owing to shifting trends towards light weight, sturdy and cost-effective material usage.
North America aerospace control surface market size is expected to lead owing to presence of key manufacturers in the region. Europe led by Germany, France, UK and Russia is estimated to witness significant growth in aerospace control surface market during the forecast timeframe. Advancement in technology with implementation of light weight composites allowing improved efficiency of aircraft will support the overall industry demand.
Asia Pacific aerospace control surface market share will witness rapid growth owing to proliferating aircraft demand from commercial and defense sector. Increasing MRO activities in the region along with favorable FDI in the region will augment the product growth. MEA will witness significant growth during the forecast timeframe. Favorable trade policies in the region along with increasing tourism particularly in UAE and Saudi Arabia will support the business demand.
Key industry players include Spirit AeroSystems, Aernnova, GKN Aerospace, Patria and Boeing. Few other industry players include Triumph Group, Harbin Hafei Airbus Composite Manufacturing Centre, FACC and Strata Manufacturing PJSC. Improving regional presence along with enhancing the manufacturing facilities are the key strategies implemented by the industry participants. Industry manufacturers are focusing on the recycling issues of the material and composites. Optimum production process and new product development with usage of composites and lightweight materials will further support the business demand.
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