Air Transport MRO Global Market Report 2023 – By Type (Engine, Line, Airframes, Other Types), By Service (Heavy Maintenance Inspection, Engine Service Check, Component Maintenance, Line Maintenance, Avionic Standardization, Aircraft Conversions), By Aircraft Type (Narrow Body Aircraft, Wide-Body Aircraft, Regional Jet, Turbo Prop, Other Aircraft Types), By Application (Civil Air Transport MRO, Military Air Transport MRO) – Market Size, Trends, And Global Forecast 2023-2032

The aerospace refers to a range of activities including production of commercial aircraft, aircraft maintenance, repair, and overhaul services, and product support and auxiliary equipment, such as radar, air traffic control towers, and satellites for civilian and commercial purposes. The aerospace industry consists of companies involved in developing prototypes and the manufacturing or assembling of complete aircraft and aircraft parts for commercial purposes. This industry also includes companies that provide modifications or conversions, repair, parts replacement, and complete overhauling and rebuilding of commercial aircraft. The types of aircraft manufactured by companies in this industry include gliders, helicopters, drones, ultra-light aircraft, passenger aircraft, and private jets. The main types of aerospace are commercial aircraft; aircraft maintenance, repair, and overhaul services; aerospace support; and auxiliary equipment. The aircraft maintenance, repair, and overhaul services include maintaining, repairing, and overhauling commercial aircraft, including helicopters, gliders, drones, aircraft turbines, aircraft engines, and rocket engines. The various sizes include wide-body, narrow-body, regional, and others that are operated in autonomous and manual mode. Aerospace is used by the government and private sector. The global aerospace market is segmented - 1) By Type: Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment 2) By Size: Wide-Body, Narrow-Body, Regional, Others 3) By End-User: Government, Private Sector 4) By Operation: Autonomous Aircraft, Manual Subsegments Covered: Passenger Aircrafts, Commercial Helicopters, Commercial Gliders and Drones, Aircraft Turbines, Aircraft Engines, Rocket Engines, Commercial Aircrafts MRO Services, Commercial Helicopters MRO Services, Commercial Gliders and Drones MRO Services, Aircraft Turbines MRO Services, Aircraft Engines MRO Services, Rocket Engines MRO Services, Commercial Radars, Satellites The global aerospace market size will grow from $261.12 billion in 2022 to $278.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of aerospace is expected to grow to $358.44 billion in 2027 at a CAGR of 6.5%. The overall economic growth of the emerging economies is expected to positively impact the commercial aircraft manufacturing market. Rising disposable income, a result of economic growth in emerging markets, had a positive impact on the demand for air travel. The International Monetary Fund (IMF) stated that global GDP growth was 5.4% in 2021. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the nation's security, thereby driving the aerospace market during the forecast period. Major companies in the aerospace market include Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, General Electric Company, Safran SA, General Dynamics, Rolls-Royce Holdings plc, Northrop Grumman Corp, Bombardier Inc., and Honeywell International Inc. Aircraft manufacturers are using machine-learning techniques such as artificial intelligence (AI) to improve aircraft safety and quality and to improve manufacturing productivity. Machine learning algorithms collect data from machine-to-machine and machine-to-human interfaces and use data analytics to drive effective decision-making. These technologies optimize manufacturing operations and lower costs. For example, GE Aviation uses machine learning and data analytics to identify faults in engines, which increases component life and reduces maintenance costs. Boeing has successfully built machine-learning algorithms to design aircraft and automate factory operations. Helicopter manufacturing companies are increasingly using parts produced with carbon fiber reinforced plastic composite (CFRP) material as this material provides higher strength to helicopter parts than conventional metal parts. CFRP materials enhance the strength and lower the weight of helicopters and offer higher corrosion resistance. These properties enable helicopters to handle higher loads. Major helicopter manufacturers using CFRP materials include Airbus, Boeing, and Sikorsky. North America was the largest region in the aerospace market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the aerospace market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace market consists of sales of civilian and commercial aircraft, aircraft components, MRO services, and aerospace equipment support. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace market research report is one of a series of new reports from The Business Research Company that provides aerospace market statistics, including aerospace industry global market size, regional shares, competitors with an aerospace market share, detailed aerospace market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace industry. This aerospace market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Robotics and automation actuators refer to a device that is used to transform energy into motion, which can be rotary or linear. The robotics and automation actuators aid in the movement of a robot, which frequently makes use of motors to turn the wheels of the robot, or a robot arm's joints, or to open or close a robot gripe. The main types of robotics and automation actuators are rotary actuators and linear actuators. The rotary actuators refer to the fluid power system output device that produces an oscillating movement over a restricted range in less than one complete circle revolution. The different actuations include electric, pneumatic, and hydraulic that is used for process automation and robotics applications. The several verticals involved are food and beverages, power generation, chemicals, paper and plastics, pharmaceuticals and healthcare, automotives, aerospace and defense, electronics and electrical, and others. The global robotics and automation actuators market is segmented - 1) By Types: Rotary Actuators, Linear Actuators 2) By Actuation: Electric, Pneumatic, Hydraulic 3) By Applications: Process Automation, Robotics 4) By Vertical: Food And Beverages, Power Generation, Chemicals, Paper And plastics, Pharmaceutical And Healthcare, Automotive, Aerospace And Defense, Electronics And Electricals, Other Verticals The global robotics and automation actuators market size grew from $22.61 billion in 2022 to $26.13 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global robotics and automation actuators is expected to grow to $46.07 billion in 2027 at a CAGR of 15.2%. The increasing demand for industrial robots is expected to propel the growth of the robotics and automation actuators market going forward. Industrial robots are mechanical systems or machines programmed to perform production-related activities autonomously in industrial settings. They are reprogrammable, employed for various applications, and are considered flexible automation. The electric actuator enables the industrial robots to constantly execute highly automated motion sequences with high precision and speed. For instance, according to the data published by the International Federation of Robotics, a Germany-based non-profit organization, in 2021, the actual installation of industrial robots reached 4.35 million units, with a 13% growth as compared to 2020. It is expected to reach 5.18 million units in 2024. Therefore, increasing demand for industrial robots is driving the growth of the robotics and automation actuators market. Major players in the robotics and automation actuators market are SMC Corporation, Rockwell Automation, Curtiss-Wright Corporation, ABB Group, Tolomatic, Thomson Industries Inc., SKF Motion Technologies, Moog Inc., MISUMI Group Inc., Macron Dynamics Inc., DVG Automation SpA, Flowserve, Festo Group, Harmonic Drive LLC, Cedrat Technologies, Venture Mfg. Co., and AUMA Riester GmbH & Co. KG. Technological advancement is a key trend gaining popularity in the robotics and automation actuator market. Major companies operating in the robotics and automation actuators sector are focused on developing technologically advanced solutions, including smart actuators, to strengthen their position. For instance, in October 2021, Ewellix, a Sweden-based manufacturer and supplier of linear motion solutions, launched a smart electro-mechanical actuator with expanded capability for use in agricultural and construction gear. The smart actuator offers four new or improved functions such as communication, built-in monitoring and diagnostics, precise position sensors, and in-control. In January 2022, Altra Industrial Motion Corp, a US-based company engaged in manufacturing motion control, power transmission, and automation products, acquired Nook Industries LLC for an undisclosed amount. This acquisition aims to expand the breadth of the linear products segment of Altra with the integration of the Nook business, into the automation and specialty segment of Altra Industrials. Nook Industries, LLC is a US-based industrial machinery manufacturing company specializing in precision ball screws, acme screws, screw jacks, and linear actuators. Asia-Pacific was the largest region in the robotics and automation actuators market in 2022. The regions covered in the robotics and automation actuator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the robotics and automation actuators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The robotics and automation actuators market consist of sales of solenoid actuators, DC motor actuators, servo actuators, and stepper motor actuators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The robotics and automation actuators market research report is one of a series of new reports from The Business Research Company that provides robotics and automation actuators market statistics, including global market size, regional shares, competitors with robotics and automation actuators market share, detailed robotics and automation actuators market segments, market trends, and opportunities, and any further data you may need to thrive in the robotics and automation actuators industry. This robotics and automation actuators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The robotics technology refer to the engineering and operation of machines capable of performing physical tasks autonomously or semi-autonomously on behalf of humans. The primary goal of robotics is to build devices that work automatically and perform complex jobs faster and more efficiently than humans. Robotics can take on several forms and is used in various verticals to reduce errors, increase efficiency, and cut down the long work hours. The main types of robotic technologies are industrial robots, mobile robots, service robots, and others. An industrial robot is a mechanical machine that is programmed to perform production-related tasks automatically in industrial environments. The different components include hardware, software, and services that are applied to aerospace manufacturing, agriculture, automotive manufacturing, building maintenance, chemical and fuel processing, construction, consumer product manufacturing, and other end users. The global robotics technology market is segmented - 1) By Type: Industrial Robots, Mobile Robots, Service Robots, Other Types 2) By Component: Hardware, Software, Service 3) By End User: Aerospace Manufacturing, Agriculture, Automotive Manufacturing, Building Maintenance, Chemical and Fuel Processing, Construction, Consumer Products Manufacturing, Other End Users The global robotics technology market size will grow from $75.89 billion in 2022 to $88.8 billion in 2023 at a compound annual growth rate (CAGR) of 17.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the robotics technology is expected to grow to $155 billion in 2027 at a CAGR of 14.9%. The increasing shift towards automation is driving the growth of the robotic technology market. The increasing use of automation, artificial intelligence, and other technologies is altering how humans and machines interact. Many organizations have expanded automation to indicate that it will allow intelligent machines to make complex or mission-critical decisions. The use of automation is deployed across an enterprise and ecosystem to build a more adaptable business that can respond quickly and adopt new technological operating models. This shift towards automation from the traditional method has changed the market dynamics, leading to an increase in the adoption of robotics technology. For instance, according to a July 2020 survey of 1,500 executives from 21 industries in 26 countries conducted by IBM, a US-based technology corporation, 79% of organizations that are scaling intelligent automation expect their company to outperform the competition in terms of revenue growth. Furthermore, 75% of respondents indicated that their digital and automation projects add the most value to the company in the area of customer experience. Therefore, the increasing shift towards automation will drive the robotics technology market going forward. Major players in the robotics technology market are ABB Group, FANUC Corp, Kawasaki Heavy Industries Ltd., KUKA AG, Mitsubishi Electric Corp., Denso Corporation, Yaskawa Electric Corporation, Omron Corporation, Seiko Epson Corporation, Stäubli Robotics, Komatsu, Epson, Panasonic, Nachi Fujikoshi, and Adept Technology. Technological development has emerged as a key trend gaining popularity in the robotics technology market. Robotics is useful in a wide range of manufacturing industries, including food, automotive, and aerospace. The market is witnessing the adoption of a wide variety of complementary technologies in robotics such as computer vision, natural language processing (NLP), speech recognition, edge computing, and others to ensure the safety and increase productivity, efficiency, quality, and consistency of products. For instance, in August 2020, Mitsubishi Electric India, a manufacturer of electrical and electronic products, launched MELFA ASSISTA, a series of collaborative robots. These robots can collaborate with humans while emphasizing more on safety features such as collision detection and adhering strictly to international safety and robotic standards ISO 10218-1 and ISO/TS15066. The MELFA ASSISTA series of collaborative robots includes the RT VisualBox programming tool, which enables the intuitive development of operational sequences by combining block diagrams into a chain of events. In July 2021, ABB Group, a European-based automation company, acquired ASTI Mobile Robotics Group for an undisclosed amount. This acquisition will broaden ABB's robotics and automation offering, allowing it to deliver a unique automation portfolio while expanding into new industry segments, making it the only company to offer a comprehensive portfolio. ASTI Mobile Robotics Group is a European-based manufacturer of the autonomous mobile robot (AMR). Asia-Pacific was the largest region in the robotics technology market in 2022. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the robotics technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the robotics technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The robotics technology market consists of revenues earned by entities by providing consumer robots and medical robots. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The robotics technology market research report is one of a series of new reports from The Business Research Company that provides robotics technology market statistics, including global market size, regional shares, competitors with a robotics technology market share, detailed robotics technology market segments, market trends and opportunities, and any further data you may need to thrive in the robotics technology industry. This robotics technology market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The aerospace support and auxiliary equipment refers to support and auxiliary equipment used in aerospace to support operations such as air traffic control towers. The market includes maintenance services provided by aerospace support and auxiliary equipment manufacturers during the equipment’s warranty period. The main types of aerospace support and auxiliary equipment are commercial radars and satellites. A commercial radar is a detection system used to detect the presence, direction, distance, and speed of an aircraft. The various forms of ownership include private, public, and involve several platforms such as airborne, land, naval, and space. The global aerospace support and auxiliary equipment market is segmented - 1) By Type: Commercial Radars, Satellites 2) By Ownership: Public, Private 3) By Platform: Airborne, Land, Naval, Space Subsegments Covered: Continuous Waveform, Pulse Waveform, Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite The global aerospace support and auxiliary equipment market size will grow from $31.3 billion in 2022 to $33.71 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of aerospace support and auxiliary equipment is expected to grow to $41.14 billion in 2027 at a CAGR of 5.1%. Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in the defense market, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. Lower operating costs lead to higher margins. This allows companies to expand production and increase product portfolios, thus driving the growth of the aerospace support and auxiliary equipment market. Major companies in the aerospace support and auxiliary equipment market include Lockheed Martin, Northrop Grumman, Raytheon, Reutech Radar Systems, and Rockwell Collins. The Multi-Function Radio Frequency System (MFRFS) is increasingly being used for operational radar frequency ranges towards applications for broadband. The MFRFS is an electronically scanned radar system that can detect and track threats at a wider range. The increased frequency range improves survivability for combat missions when there is no visibility in both horizontal and vertical directions (zero-zero visibility). It also provides additional electronic warfare functionalities and gives the pilots the ability to land safely in adverse conditions. Raytheon and NCS are manufacturing radars with MFRFS technology. Asia-Pacific was the largest region in the aerospace support and auxiliary equipment market in 2022. Asia-Pacificis expected to be the fastest growing region in the forecast period. The regions covered in the aerospace support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in aerospace support and auxiliary equipment market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace support and auxiliary equipment market consists of sales of aerospace support and auxiliary equipment such as radars, and air traffic control towers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace support and auxiliary equipment market research report is one of a series of new reports from The Business Research Company that provides aerospace support and auxiliary equipment market statistics, including aerospace support and auxiliary equipment industry global market size, regional shares, competitors with an aerospace support and auxiliary equipment market share, detailed aerospace support and auxiliary equipment market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace support and auxiliary equipment industry. This aerospace support and auxiliary equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Aerospace materials refer to types of materials, often metal alloys or polymeric-based materials, that have been created specifically for aircraft application and are used in a variety of aerospace components because they have enhanced qualities such as high tensile strength, superior temperature tolerance, enhanced transparency, and a hard surface. The main types of aerospace materials are aluminum alloys, steel alloys, titanium alloys, super alloys, and composites. An aluminumalloy is a chemical composition in which other elements are added to pure aluminum to improve its qualities, particularly its strength. Steel is a metal alloy that contains primarily iron with trace amounts of carbon, depending on the quality or grade of steel. Titanium alloy is a metal alloy that is predominantly composed of pure titanium with additional metals or chemical ingredients scattered throughout. Superalloys are complex, high-performance alloys that can withstand oxidizing conditions and high temperatures. A composite material is made up of two separate materials that have different physical and chemical properties. Aerospace materials are used for a variety of aerospace components, in the construction of aircraft parts such as airframes, windows, interiors, engine components, propulsion systems, mirrors, and ceilings. The global aerospace materials market is segmented - 1) By Type: Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composites 2) By Aircraft Type: Commercial Aircraft, Business and General Aviation, Civil Helicopters, Military 3) By Application: Aero Structure, Components, Cabin Interiors, Propulsion System, Equipment, System, and Support, Satellites, Construction and Insulation Components The global aerospace materials market size will grow from $19.68 billion in 2022 to $20.46 billion in 2023 at a compound annual growth rate (CAGR) of 3.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the aerospace materials is expected to grow to $25.69 billion in 2027 at a CAGR of 5.9%. The increasing demand for lightweight and fuel-efficient aircraft will propel the growth of the aerospace materials market. The growing requirement for fuel-efficient aircraft to fulfill strict pollution control standards raised the demand for lightweight aircraft. Aerospace materials are lower in weight than traditional metals, yet have great strength, which helps to reduce the overall weight of aircraft and so aids in meeting emission limits and improving fuel efficiency. For instance, according to the General Aviation Manufacturer's Association, an aviation industry trade association, HondaJet, a light business jet produced by the Honda Aircraft Company, became the world's best-selling light aircraft for the fourth year in a straight, with 31 deliveries completed in 2020. In the second half of 2020, the company delivered 22 units, three more than in 2019. The rising demand for lightweight and fuel-efficient aircraft will further drive the growth of the aerospace materials market. Major players in the aerospace materials market are Toray Industries, Inc., DuPont de Nemours, Inc., Aleris International, Hexcel Corporation, Alcoa Corporation, Koninklijke Ten Cate BV, Arkema S.A., Cytec Solvay Group, Arconic Inc., (Alcoa Corp.), SABIC, NOVELIS, Gurit, Constellium N.V, Cytec Solvay Group, WS Atkins plc, Teijin Limited, and Hyosung Advanced Materials. The development of carbon fiber composites for making various aerospace structures and parts is an emerging trend in the aerospace materials market. Carbon fiber is a material composed of carbon atoms arranged in long, thin crystals that can be molded with epoxy into practically any shape, even designs that are impossible to achieve with metals or without welding many sections together and creating weak points. Due to the lightweight, durable, corrosion-resistant, and temperature-resistant properties of carbon fiber, manufacturers of aerospace materials are focused on developing carbon fiber structures for various aerospace applications. For instance, in August 2021, Markforged, a US-based additive manufacturing company specializing in the development and manufacturing of digtal forge, launched Onyx FR-A and Carbon Fiber FR-A based on fiber reinforcement technology. These two materials are lightweight, efficient to reduce fuel consumption and improve engine performance, and used in various parts of aircraft interiors. In November 2021, Collins Aerospace, a US-based defense and aircraft product manufacturing company, acquired Dutch Thermoplastic Components B.V. for an undisclosed amount. Through this acquisition, Collins will expand the use of cutting-edge thermoplastics to make airplanes lighter and more economical to run, and it will emphasize our commitment to utilizing cutting-edge materials and procedures, weight reduction for improved reliability, fuel efficiency, and environmentally friendly practices throughout the entire product lifecycle. Dutch Thermoplastic Components B.V. is a Netherlands-based company pioneering in the development and manufacturing of structural thermoplastic composite parts for aircraft structures. Europe was the largest region in the aerospace materials market in 2022. The regions covered in the aerospace materials market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the aerospace materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The aerospace materials market consists of sales of graphene, polymer composites, glass-fiber-reinforced plastic, carbon fiber, and glass- and aramid-reinforced epoxy. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace materials market research report is one of a series of new reports from The Business Research Company that provides aerospace materials market statistics, including aerospace materials industry global market size, regional shares, competitors with an aerospace materials market share, detailed aerospace materials market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace materials industry. This aerospace materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Aerospace composites refer to superior materials used to make effective aircraft components and enhance the performance of commercial and military aircraft. Aerospace composites have superior physical properties and exceptional strength and stiffness-to-density ratios. Composites can be manufactured in different shapes, which reduces corrosion resistance and material wastage. The main types of aerospace composites include carbon fiber composites, ceramic fiber composites, glass fiber composites, and others. Carbon composites are a broad class of materials in which carbon structures are spread throughout a material. They offer strength and stiffness while keeping them relatively lightweight. Ceramic composites offer excellent temperature stability, damage-tolerant fracture behavior, low density, good corrosion, high hardness, and wear resistance. Glass fiber composites offer flexibility, high strength, stiffness, and durability. Aerospace composites are mainly used in commercial aircraft, business and general aviation, civil helicopters, military aircraft, and others. The two major types of applications of aerospace composites are interior and exterior. Aerospace composites are manufactured through AFP/ATL, the lay-up process, resin transfer molding process, filament winding process, and other processes. Resins used for aerospace composites include benzoxazine, cyanate ester, bismalimide, ceramic and metal matrix, thermosetting resins, polyester, and others. The global aerospace composites market is segmented – 1) By Fiber Type: Carbon Fiber Composites, Ceramic Fiber Composites, Glass Fiber Composites, Others 2) By Aircraft Type: Commercial Aircraft, Business & General Aviation, Civil Helicopter, Military Aircraft, Others 3) By Manufacturing Process: AFP/ATL, Lay-Up Process, Resin Transfer Moulding Process, Filament Winding Process, Others 4) By Resin Type: Benzoxazine, Cyanate Ester, Bismalimide, Ceramic and Metal Matrix, Thermosetting Resins, Polyester, Others 5) By Application: Interior, Exterior The global aerospace composites market size grew from $26.25 billion in 2022 to $29.95 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global aerospace composites is expected to grow to $51.83 billion in 2027 at a CAGR of 14.7%. The increase in demand for high-strength and lightweight composite materials is expected to drive the aerospace composites market. Energy efficiency can be increased, and fuel consumption can be reduced by using lightweight materials and thereby reducing the mass of the aircraft, as a lower mass requires less lift force and thrust during flight. Lightweight design helps in reducing the carbon footprint, higher structural strength and stiffness, flight performance improvements such as better acceleration, and better safety performance. For instance, according to the report ‘2020 State of the Industry Report’ by the Composites Manufacturing Magazine, a US-based magazine related to composite manufacturing, the US composite end products market is expected to touch $33.4 billion by 2025 at a growth rate of 3.8% with glass fiber-based composites dominating the market. Therefore, increasing use of lightweight materials positively impacts the aerospace composites market's growth. Major players in the aerospace composites market are Solvay, Toray Industries Inc., Mitsubishi Chemical Holdings, Hexcel Corporation, Teijin Limited, SGL Group, Spirit AeroSystems, Materion Corporation, Owens Corning, Spirit AeroSystems Inc., LEE Aerospace Inc., Gurit Holding AG, General Electric Corporation, Rolls-Royce Motor Cars Ltd., Kineco-Kaman Composites, and Nippon Graphite Fiber Corporation. Companies in the aerospace composites market are focusing on technological advancement to accelerate and develop composite material and process technologies for the next generation of energy-efficient aircraft and future mobility. Airlines are trying to replace outdated aircraft with technologically advanced and modern aircraft. These new aircraft are equipped with increased payload capacities and cost-efficiency. As a result of this, there is widespread adoption of aerospace composites across the globe. For example, in March 2021, GKN Aerospace, a UK-based company involved in the automotive and aerospace components business, launched a consortium called ASCEND (aerospace and automotive supply chain enabled development). With this launch, the UK has become a technology leader in future lightweight structures. It also helps to reduce carbon emissions and energy consumption in the aerospace industry. In September 2020, private investment firm Architect Equity acquired the Aerospace Composites Division of AAR Corp., a company engaged in providing aerospace and defense aftermarket solutions, for an undisclosed amount. Through this acquisition, Architect is expected to design and manufacture complex aerospace products with AAR Corp. and pursue new opportunities in the composites manufacturing space. The aerospace composites division will do business as Aeromatrix Composites. Aeromatrix is a US-based company that designs, fabricates, and assembles composite products and solutions for customers in the commercial aerospace and defense industries. North America was the largest region in the aerospace composites market in 2022. Asia-Pacific is expected to be the fastest-growing region in the aerospace composites market share during the forecast period. The regions covered in the aerospace composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the aerospace composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The aerospace composites market consists of sales of aramid-reinforced epoxy, and boron-reinforced aerospace composites. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace composites market research report is one of a series of new reports from The Business Research Company that provides aerospace composites market statistics, including aerospace composites industry global market size, regional shares, competitors with an aerospace composites market share, detailed aerospace composites market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace composites industry. This aerospace composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Aerospace fasteners refer to raw materials such as screws, and pins, which mechanically fix or join two or more components of an aircraft together. They are durable and secure and aid in enhancing the aircraft’s efficiency while reducing its overall weight. They are commonly manufactured using aluminum, titanium, and steel, owing to the high tensile/shear strength and corrosion resistance of these metals. The main product types in the aerospace fasteners market are screws, nuts and bolts, washers, and rivets. Screws are generally made of lower-strength materials and can be installed with a loose-fitting thread, and the head shapes are made to engage a screwdriver or wrench. By platform, aerospace fasteners are used in fixed-wing aircraft and rotary-wing aircraft. The main materials used for aerospace fasteners are aluminum, titanium, and alloy steel. The use of aerospace fasteners can be seen in commercial and defense applications. The global aerospace fasteners market is segmented – 1) By Product: Screws, Nuts and Bolts, Washers, Rivets 2) By Platform: Fixed Wing Aircraft, Rotary Wing Aircraft 3) By Material: Aluminium, Titanium, Alloy Steel 4) By End-Use: Commercial, Defence The global aerospace fasteners market size grew from $6.65 billion in 2022 to $7.33 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global aerospace fasteners is expected to grow to $10.32 billion in 2027 at a CAGR of 8.9%. The global air travel industry has increased rapidly as the standard of living of people has improved and their disposable income has also gone up over a period of time. For instance, according to the International Civil Aviation Organization, passenger traffic and freight volume are expected to double by 2035. Thus, increased demand for air travel pushed aircraft manufacturing, driving the growth of the aerospace fasteners market. Major players in the aerospace fasteners market are NAFCO, LISI Aerospace, MS Aerospace, Trimas, PCC, National Aerospace Fasteners Corporation, TFI Aerospace Corporation, TPS Aviation Inc., Stanley Black & Decker Inc. (United States), Alcoa, 3V Fasteners Company Inc., B & B Specialities Inc., Stanley Black & Deck Inc., Wurth Group (Germany), Howmet Aerospace Inc. (United States), and Arconic. The increase in use of super alloys is a key trend gaining popularity in the aerospace fastener market. Super alloys have high mechanical strength, resistance to thermal creep deformation, good surface stability, and resistance to corrosion or oxidation. For instance, SPS Technologies has adopted the super alloys and developed the MP35N as the first fastener superalloy. It provides the unique combination of high strength and outstanding corrosion resistance, with a 750 °F temperature capability. In 2020, TriMas Corp., a USA-based company, acquired Simi Valley for $8.5 billion. TriMas is a global manufacturer and provides products for customers in the aerospace, industrial, petrochemical, and oil and gas markets. This acquisition will help TriMas grow in the aerospace business and enhance their portfolio of products. This acquisition is estimated to add close to $3.2 billion in revenue to TriMas. Europe was the largest region in the aerospace fasteners market in 2022. Asia-Pacific is expected to be the fastest-growing region in the aerospace fasteners market share during the forecast period. The regions covered in the aerospace fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the aerospace fasteners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The aerospace fasteners market consists of sales of anchors, locking bolts, hex bolts, and collars. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace fasteners market research report is one of a series of new reports from The Business Research Company that provides aerospace fasteners market statistics, including aerospace fasteners industry global market size, regional shares, competitors with aerospace fasteners market share, detailed aerospace fasteners market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace fasteners industry. This aerospace fasteners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

Aerospace is the design and manufacture of aircraft, rockets, missiles, and spacecrafts that operate in the space. Defense equipment refers to weapons, arms and equipment that are used for military purposes. The main aerospace and defense types are aerospace and defense. The aerospace industry consists of companies involved in developing prototypes and the manufacturing or assembling of complete aircraft and aircraft parts for commercial purposes. The aircraft are operated through autonomous and manual modes. The different components include weapon systems, fire control systems, command and control systems, and others. The global aerospace and defense market is segmented - 1) By Type: Aerospace, Defense 2)By Operation: Autonomous, Manual 3) By Component: Weapon System, Fire Control System, Command and Control System, Others Subsegments Covered: Commercial Aircraft, Aircraft Maintenance, Repair and Overhauling Services, Aerospace Support and Auxiliary Equipment, Air based Defense Equipment, Sea based Defense Equipment, Land based Defense Equipment, Defense Equipment Maintenance, Repair and Overhauling Services, Defense Support and Auxiliary Equipment The global aerospace & defense market size will grow from $795.92 billion in 2022 to $855.62 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of aerospace & defense is expected to grow to $1076.56 billion in 2027 at a CAGR of 5.9%. During the forecast period, developed countries will experience low interest rates as monetary authorities are reducing interest rates to stimulate economic growth and prevent deflation. This led to the flow of cheap money for investment in these economies. Low interest rates encouraged borrowing for investment and helped drive spending. For instance, in March 2020, the Bank of England, a UK-based central bank, reduced interest rates to 0.1%, the lowest level ever, as a measure of protest against COVID-19. Major countries that had low-interest rates in the historic period included the USA, Germany, and Japan. Low interest rates will boost the growth of the aerospace and defense markets in the forecast period. Major companies in the aerospace & defense market include Airbus Group SE, Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Raytheon Co, Northrop Grumman Corp, Bae Systems plc, General Dynamics, General Electric Company, and Safran SA. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the aerospace and defense market in 2020 as supply chains were disrupted due to trade restrictions and manufacturing was affected due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and has spread globally, including Western Europe, North America, and Asia. Defense equipment manufacturers depend on the supply of raw materials and parts from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and raw materials. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the aerospace & defense market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. 8K video capture technology is being integrated with drones to enhance the picture and video quality captured by these aircraft. 8K technology offers greater horizontal display resolution and offers images that show more details than standard HD. 8K cameras integrated with drones offer higher precision and provide high-resolution footage in autonomous flights. For instance, Autel is offering its EVO series of drones with 8K cameras. North America was the largest region in aerospace & defense market in 2022. North America is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace and defense market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the aerospace & defense market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The aerospace and defense market consists of sales of aircraft, aircraft components, weapons, artillery tanks, and radar equipment for aerospace and defense purposes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The aerospace and defense market research report is one of a series of new reports from The Business Research Company that provides aerospace and defense market statistics, including aerospace and defense industry global market size, regional shares, competitors with an aerospace and defense market share, detailed aerospace and defense market segments, market trends and opportunities, and any further data you may need to thrive in the aerospace and defense industry. This aerospace and defense market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.