Global Aerostructure Equipment Market Growth Being Marked by Technological Advancements 2019 to 2027
A recent study by Fact.MR foretells the global aerostructure equipment market to record an expansion rate of over 1.5% over the forecast period of 2019 - 2027.
[UKPRwire, Fri Sep 06 2019]
The aerostructure equipment market is consolidated with a few number of vendors making most of the global sales. There is an increased probability of change in market share of key vendors as the new entrants into the aerostructure equipment market are expected to provide a comprehensive array of components and subsystems using automation technology in a financially viable manner. However, several stringent regulations related to the mass adoption of automation manufacturing technologies may hamper the aerostructure equipment market growth prospects.
Aerostrcuture equipment OEMs such as The Boeing Company and Airbus SE, with several technical and financial resources are expected to being significant changes in the existing aerospace platforms. Similarly, small and medium vendors are benefitting from development efforts with existing prominent vendors. Some well-established vendors operating in the global aerostructure equipment market are KUKA AG which is an automated manufacturing and assembly solutions for industrial production based in Germany and Broetje-Automation, factory automation and tooling solutions expert with industry participants such as Boeing, Airbus, Spirit Aerospace and Fuji Heavy Industries.
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Nanotechnology Assisting the Development of Lightweight Materials
The global aerospace industry considered to be one of the most important heavy industries in the world upon which several companies rely on the ability to transport both products and people around the world. However, along with substantial economic values, the global aerostructure equipment market combines huge resource consumption with one of the largest carbon footprint on the planet. Due to this reason, the primary drivers within the present aerostructure equipment research and development are towards the development of lighter structural materials and more efficient engines.
Several potential nanomaterials and nano-engineering is helping to achieve these goals. Various nanomaterials are in use with success in aircraft construction as filler materials which is to enhance the properties of structural polymers. Carbon nanotubes (CNT’s) is gaining enough traction as fillers in polymers due to exceptional toughness and unique electrical properties.
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All the developments targeted towards the production of lightweight and durable aerostructure materials is expected to drive the global aerostructure equipment market during the forecast period of 2019 to 2027. However, the main roadblock for the widespread adoption of nanomaterials is the hanging uncertainty over environmental and health implications.
Increase in Passenger Mobility to Create Lucrative Opportunities
The BRIC countries is estimated to contain about 40% of the world’s population and account for about one-fifth of the world’s GDP population where the leisure travel industry is growing exponentially. According to the International Air Transport Association (IATA), in 2017 there were about 4.1 billion air travelers with the most traffic from the Asia Pacific region. With air travel booming around the world as people continue to migrate for better economic opportunity, the global aerostructure equipment market is expected to soar exponentially. With the generation of countless new number of routes and requiring thousands of new planes, the development of the global aerospace equipment market is of prime importance.
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Evolution of 3D Printing Technology Favoring Market Growth
A prominent vendor within the aerostructure equipment market, CPI Aerostructures, proving aerostructure equipment subassemblies almost exclusively for military aircraft, have added a FDM 3D printer bypassing traditional tooling solutions. For reducing costs and turnaround time for custom tooling, several small and medium enterprises involved in the global aerostructure equipment market have employed the use of 3D printers. With the help of 3D printers, several aerostructure equipment such as passenger doors can be printed in-house, much more economically for about 25% less cost required by outsourcing.
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