The Aircraft Brackets Market: Highlights
The Aircraft Brackets Market is projected to grow at a healthy rate over the next five years to reach US$ 239.9 million in 2023. Increasing global commercial and regional aircraft deliveries, increasing share of wide-body aircraft in the total commercial aircraft deliveries, rising commercial aircraft fleet size, increasing demand for lightweight brackets, and increasing demand for 3D-printed brackets are the major factors that are burgeoning the demand for brackets in the aircraft industry. North America and Europe are the biggest demand generators with a combined share of more than two-thirds of the total aircraft brackets market.
Aircraft Brackets Market - Insights by Aircraft Type:
The market is segmented into commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopter. Commercial aircraft is likely to remain the most dominant and fastest-growing segment of the aircraft brackets market during the forecast period. Increasing production rates of key programs, such as B737 and A320 family, to support rising passenger traffic; market entry of new players, such as COMAC; and the introduction of fuel-efficient variants of existing aircraft programs, such as B737 max, A320neo, are the major factors driving the demand for brackets in the commercial aircraft segment.
Aircraft Brackets Market - Insights by Application Type:
The market is segmented into fuselage, wings, control surfaces, and others. Fuselage is likely to remain the most dominant segment of the aircraft brackets market during the forecast period. It is the biggest application in an aircraft and requires brackets in large quantities. For instance, there are several components and parts, such as airframe assembly, where brackets are used. Control surfaces are likely to be the fastest growing application segment during the same period.
Aircraft Brackets Market - Insights by Bracket Type:
The market is segmented into class A, class B, and class C. Class B brackets are likely to remain the most dominant and fastest growing segment of the aircraft brackets market during the forecast period. Class B brackets are removable and can be attached to class A brackets or directly to the structure. Further, there is also a huge demand for class B brackets at the aftermarket level, owing to the fact that they are replaced during periodic maintenance of aircraft in case of any damage.
Aircraft Brackets Market - Insights by Material Type:
The market is segmented into aluminum, steel, and others. Aluminum brackets are likely to remain the most dominant segment of the aircraft brackets market during the forecast period, driven by its high compatibility with aluminum parts, its non-ferrous properties, excellent strength-to-weight ratio, and high conductivity. Other materials which basically include composites and metal-alloys are also expected to witness healthy growth rates over the next five years, owing to an increasing penetration of composite materials in the aerospace industry and a growing acceptance of 3D printed brackets.
Aircraft Brackets Market - Insights by End-User Type:
The market is segmented into OE and aftermarket. OE sales are likely to remain the most dominant segment of the aircraft brackets market during the forecast period, driven by an increased production of commercial aircraft to meet rising passenger traffic across the globe. Aftermarket sales are expected to be the faster-growing segment during the forecast period, owing to increasing upgrade of existing aircraft fleet and periodic maintenance of active aircraft.
Aircraft Brackets Market - Insights by Region:
North America is projected to remain the largest market for aircraft brackets during the forecast period. The USA is the growth engine of the region’s market and has one of the largest fleets of commercial and military aircraft across the world. Presence of major OEMs, tire players, bracket manufacturers, and raw material suppliers are primarily driving the demand for brackets in the country.
Asia-Pacific is expected to witness the highest growth in the aircraft brackets market during the same period, owing to an increasing presence of major aircraft OEMs in the region, market entry of new players, such as COMAC to mitigate the level of dependency on Boeing and Airbus, and increasing commercial aircraft fleet size to meet rising passenger traffic.
The supply chain of this market comprises raw material suppliers, bracket manufacturers, tier players, aircraft OEMs, airline companies, leasing companies, and MRO companies. The key aircraft bracket manufacturing companies are Triumph Group Inc., Arconic Inc., Premium Aerotec, Precision Castparts Corp., Tri-Mack Plastics Manufacturing Corporation, AIM Aerospace Inc., Daher Socata SAS, Denroy Plastics Ltd., Spirit Aerosystems Inc., and Stroco Manufacturing Inc. New product development and formation of long-term supply agreements are some of the most common strategies adopted by the major players in order to remain competitive in the market. |
