Aircraft Brackets Market Size, Industry Analysis Report, Regional Outlook, 2020 - 2026
Report ID: GMI3051
Aircraft Brackets Market size is expected to witness significant growth in the coming years led by proliferating global commercial and regional aircraft demand owing to improved air travel experience along with lower air fares. Improvements in manufacturing technologies including lean manufacturing techniques along with rapid prototyping technologies is strengthening the market growth till 2024.
Emergence of innovative technologies including 3D printing and adoption of light weight materials for lowering the aircraft weight and increasing the flight efficiency is supporting the aircraft brackets market expansion over the projected timeframe. Further, usage of aluminum and composites brackets offers durable, reliable and lower weight benefits, thereby contributing positively towards the market expansion over the projected timeframe.
Industry participants are continuously investing in R&D for introducing advanced bracket solutions for increasing their market share gaining an edge over the competition. For instance, Russian engineers and scientists from NUST MISIS are working on an innovative bionic bracket solution, that is manufactured by laser extension from the powder of titanium alloy. This bracket reduces the product weight by around 20% and offers improved aircraft weight savings of around a ton.
Stringent regulations associated with the aviation industry is positively influencing the aircraft brackets market proliferation over the forecast timeframe. For instance, the Federal Aviation Administration regulates the aviation industry for replacement of damaged aircraft components under 14CFR part 39. Further, the regulations promote the usage and installation of hinge aluminum brackets for replacing the traditional brackets owing to cracks and corrosion.
Advancements in brackets manufacturing technologies including hybrid molding, additive manufacturing, and injection molding process technology is paving way for innovations in the aircraft brackets market place, thereby providing a positive outlook for the industry expansion. For instance, Denroy Plastics offers polyaryletherketone (PAEK)- based aircraft bracket solutions nsamely the Victrex brackets with the process of hybrid molding technology. The proprietary filelrs allows for specific moldings to be formed under ideal conditions, without affecting the electrostatic discharge components considerably.
Based on aircraft, the aircraft brackets market place is segmented into military aircraft, regional jets, commercial aviation, and business aviation. Increasing demand for military aircrafts coupled with proliferating defense expenditures across the globe is positively influencing the market expansion till 2024. The requirement for improved quality, lower weight, and high precision components for aiding advanced flight operations is further augmenting the segment growth over the projected timeframe.
Based on material used in the aircraft brackets, the segment is categorized into steel, aluminum, and composites. The increasing usage of aluminum and composites for manufacturing aircraft brackets is attributed to the benefits offered by these materials including improved durability and superior corrosion resistance, augmenting the industry expansion over the study timeframe.
Based on distribution channel, the aircraft brackets market place is segmented into OEM and MRO. Increasing aircraft production requires industry participants to invest in light weight and innovative aircraft bracket solutions, providing a positive outlook for the industry expansion. The stringent regulations mandating the replacement and maintenance of aircraft components for maintaining the flight airworthiness is supporting the MRO expansion till 2024.
The aircraft brackets market place, based on application is segmented into fuselage, landing gear, engine mount, and wings. The increasing innovations in the aircraft brackets for lowering its weight contributes significantly towards increasing the aircraft efficiency. The requirement for high load bearing capability of the brackets for supporting the major aircraft components including landing gear and wings is further strengthening the aircraft bracket market expansion till 2024.
North America is expected to contribute significantly towards the aircraft brackets market size. This dominance is attributed to the presence of major aircraft manufacturers across the region focusing on introducing innovative and efficient flights, catering to the increasing air traffic demand. Further, the increasing military spending along with increasing adoption of light weight aircrafts for diversified operations is augmenting the industry share till 2024.
The key players in the aircraft brackets market place include Premium AEROTEC, Tri-Mack Plastic Manufacturing, Triumph Group, Denroy Plastics, Arconic, AIM Aerospace, Stroco Manufacturing, and Spirit Aerosystems. Industry participants are engaged in joint ventures and partnerships for streamlining their business and expand their market share. For instance, in 2018, Premium AEROTEC entered into a strategic partnership with Airbus for development of the advanced data platform Skywise for integrating data with its customers through a secure cloud environment.
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