The aircraft strut market is anticipated to experience a steady CAGR of 6.5% from 2022 to 2032, with an estimated value of USD 8.5 billion by 2032. The market was valued at USD 3.9 billion in 2022.
Aircraft struts are vital components in the structural assembly of aircraft. The rising frequency of global air traffic and the increasing number of daily flights are driving the demand for aircraft struts.
The market is poised to benefit from a surge in new aircraft orders across both developed and emerging economies. Moreover, the growth of low-cost carriers, fueled by high air traffic, is expected to further enhance market growth.
Technological innovations, such as the introduction of oleo-pneumatic struts that act as effective shock absorbers, are also aiding market expansion. These struts, primarily used in large cargo aircraft, improve landing capabilities on rough terrain and protect the airframe from impacts during taxiing, thus supporting the aircraft strut market’s growth.
Comprehensive Market Insights: Full Report Overview
Key Takeaways from the Aircraft Strut Market Report:
- The growing demand for commercial aircraft in the U.S. and Canada, driven by destination expansion plans and fleet modernization efforts, is expected to enhance North America’s share of the aircraft strut market in the coming years.
- High air traffic in developing nations like India and China, attributed to rising disposable incomes and discounts on online ticket booking platforms, is projected to bolster the regional market.
- The establishment of new manufacturing units in the Asia Pacific region, particularly with German companies setting up production facilities in Asian countries, is expected to influence the global aircraft strut market positively.
Competitive Landscape:
Market competitors are focusing on innovations related to multiple metal use while increasing the core strength of the shock absorber. This enhances the strength value in the market. The global market is highly fragmented with the presence of the above-mentioned key players. The majority of these players are striving to expand their portfolios by launching cutting-edge products.
Leading Key Players:
- Birken Manufacturing
- Circor Aerospace, Inc.
- Malabar Inc.
- PCC Aerostructures
- Bansbach Easylift of North America
- Crompton Technology Group Ltd., QRP, Inc.
- New Brow Aerospace
- Wicks Aircraft Supply
- Fiber Dynamics, Inc.
- Robart Mfg
- Lefiell Manufacturing Co.
Recent Developments:
- Birken Manufacturing has introduced its new set of aircraft landing gears involving enjet aero bloomfield that works as a brilliant shock absorber.
- Completing 60 years of service, Circor Aerospace Has added its new products and services related to the aviation, revising its aircraft strut, making it stronger.
Aircraft Strut Market Segmentation:
By Aircraft Body Type:
- Small Body Aircraft
- Wide Body Aircraft
- Very Large Body Aircraft
- Regional Aircraft
By Operation:
- Hydraulic
- Pneumatic
By Position:
- Front Wheels
- Rear Wheels
By Product Type:
- Rigid Aircraft Struts
- Spring Steel Aircraft Struts
- Shock Struts
- Bungee Cords
By End User:
- Commercial
- Military
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube