Aerostructures Market to Depict a CAGR of 6.93% over 2024 to 2032; Industry Value to Escalate with Mounting Demand for Composite Materials

The global aerostructures market size stood at USD 116.09 billion in 2023. The market value is slated to rise from USD 123.25 billion in 2024 to USD 210.65 billion by 2032 at a CAGR of 6.93% during 2024-2032. Fortune Business Insights™ presents this information in its report titled “Aerostructures Market Size, Share & Industry Analysis, By Component (Wings, Nose, Fuselage, Nacelle & Pylon, Empennage, and Others), By Material (Alloys, Composites, and Metals), By Platform (Fixed-Wing Aircraft (Commercial, Military, Business Jet, and General Aviation Aircraft) and Rotary-Wing Aircraft (Commercial Helicopters, Military Helicopters, and UAVs)), By Aircraft Model (A320, A350, A330, A220, B737, B777, B787, and Others), and Regional Forecast, 2024-2032”.

Aerostructures are components such as fuselage, nacelle & python, wings, nose, and others that are joined together for the formation of a basic aircraft framework. The rising adoption of chevron nozzle exhaust in aircraft is anticipated to bode well for industry expansion. This is further supported by the surging deployment of machine learning and 3D printing technologies in the production process.

The COVID-19 pandemic led to a drop in the aircraft deliveries of leading manufacturing companies, negatively impacting market growth.  

Mahindra Aerostructures Inked USD 100 Million Contract with Airbus for Metallic Component Production and Supply

In April 2024, Mahindra Aerostructures struck a USD 100 million multi-year contract with Airbus Atlantic for producing and delivering metallic components for the latter’s commercial aircraft family. The deal involves the supply of around 2,300 varieties of metallic components to France-based Airbus Atlantic from Mahindra’s production base in India.

Soaring Deployment of Composite Materials to Bolster Industry Progress

OEMs are using composite materials for the production of airplane airframes. This can be attributed to their relative properties such as toughness, reliability, and durability. Fiber-reinforced plastics and glass-reinforced plastics are used for fabricating the outer layers and skin of the aircraft. The escalating usage of composite materials for decreasing the overall weight of an aircraft is touted to propel aerostructures market growth.

However, the expenses associated with the maintenance of these structures may restrain industry expansion.

Key Players Strike Collaborations to Establish a Strong Market Footing

Leading companies are joining forces with other players to strengthen their market footholds. Furthermore, industry players are developing new aerostructures and initiating takeovers to gain an edge over their competitors. Pivotal players are characterized by the presence of varied product portfolios.  

Key Players Profiled in the Report

• AAR Corp (U.S.)


• Bombardier Inc (U.S.)


• SAAB AB (Sweden)


• Spirit Aerosystems Inc. (U.S.)


• Triumph Group Inc. (U.S.)


• Cyient Ltd (India)


• Elbit Systems Ltd (Israel)


• GKN Aerospace (U.K.)


• Leonardo SpA (Italy)


• The Boeing Company (U.S.)


• Airbus SAS (France)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/aerostructures-market-101663

Key Industry Development

• January 2024 – Airbus inked a contract with Mahindra Aerospace Structures Pvt. Ltd. and Tata Advanced Systems Limited for the procurement and production of commercial aircraft parts. Under the contract, Mahindra and TATA would produce assemblies and components for aircraft including Airbus’ A350, A320neo, and A330neo.

Further Report Findings

• The Asia Pacific aerostructures market share is poised to surge at the highest CAGR over 2024 to 2032 impelled by the escalating defense budget and a rise in commercial and military aircraft development programs. An increase in UAV (unmanned aerial vehicle) applications in the region is another factor impelling regional expansion.


• In 2023, the Europe market held the second-highest share driven by the escalating demand for composite aerostructures. Furthermore, the region records the presence of key players, which further spurs industry expansion.


• The Latin America market is poised to expand considering the emerging sector focused on aerostructure manufacturing.


• The Middle East & Africa market is anticipated to record notable growth with a surge in military expenditure and favorable initiatives by global players and government bodies in the region.

Table of Segmentation