The Global Aircraft Brackets market share is projected to reach US$ 2,435.7 Million in 2032. Expanding aviation and tourism sector are primary drivers impacting the demand for aircraft brackets market.
According to FMI, the Global Aircraft Brackets market is estimated to be valued at US$ 1,524.1 Million in 2022 and is projected to increase at a CAGR of 4.80% in the forecast period from 2022 to 2032.
| Attributes | Details |
|---|---|
| Market Size 2021 | US$ 1,454.3 Million |
| Market Size 2022 | US$ 1,524.1 Million |
| Market Size 2032 | US$ 2,435.7 Million |
| Value CAGR (2022 to 2032) | 4.80% |
Aircraft brackets are the supporting structures that are attached to various aircraft components and allow one component to be placed on top of another. A bracket is a fixed L-shaped construction that joins a vertical and horizontal surface. The brackets are produced under strict specifications and have a wide range of purposes. The brackets that hold up one or more components on an aircraft frame have numerous mounting holes that match the brackets. The bracket is supported by a variety of devices that can be spanned between two or more aircraft frame components and can be mounted in any position without the need for any equipment.
Some of the key reasons propelling the growth of the targeted market are the emergence of cutting-edge technologies like 3D printing and the acceptance of lightweight materials for reducing aircraft weight and boosting flight productivity and efficiency. Additionally, the use of Composite and Aluminium brackets provides dependable, enduring, and lighter benefits, positively contributing to the growth of the market over the forecast period.
The analysis of Aircraft Brackets demand from 2017 to 2021 showed a historical growth rate of less than 3.7% CAGR, some of the factors that impacted the market include restricted air travel, reduced spending on leisure and travel during the past two years owing to pandemic spread mitigation measures imposed by government across the globe.
World air traffic and traveling were heavily impacted by the COVID-19 pandemic. Due to an increase in the infection graph, certain activities in the airline industry, including a shutdown of an airport, air travel to foreign countries, aircraft production, and aircraft deliveries, have been temporarily suspended. The market growth expectations were temporarily dashed by supply chain constraints, a shortage of raw materials for the production of brackets, an industrial shutdown, and a barrier to the sales network.
However, the sales market network and supply chain resumed in aircraft markets, when infection curves started to drop at the start of 2022, As a result, FMI’s Global Aircraft Brackets demand projection predicts a CAGR of 4.8% by 2032.
The primary drivers of growth in demand for brackets in the aircraft industry include factors like rising global commercial and local aircraft deliveries, the growth rate of international traveling, growing commercial aircraft fleet sizes, rising demand for lightweight brackets, and rising demand for 3D-printed brackets propelling the market growth.
Aircraft and its component must be strong but light in weight. Manufacturers are continuously trying to find new methods or techniques to lighten the weight of aircraft and their construction equipment. As a result, the production costs will be kept under control while adapting the various product variations. Also, the development of the technologies used to manufacture brackets, such as hybrid molding, injection molding process technology, 3D printing, and additive manufacturing, is paving the way for more inventions to be made in the manufacturing of brackets, which is encouraging for the future growth of the market.
The demand for airplane components is rising thanks to its link to an increase in demand for air travel. This is believed to be contributing to a swelling global market in the manufacturing of airplane brackets. With traffic congestion in cities, flying is becoming more popular as a means of transport.
According to ICAO’S latest analysis, the number of air passengers carried from January to April 2022 increased by 65% compared to the same period in 2021, while aircraft flight departures increased by 30%. Owing to this improved air travel experience has increased the request for manufacturers to produce the aircraft which simultaneously will increase the demand for aircraft brackets in the market.
The key trend which impacts the aircraft bracket market growth is newly introduced manufacturing techniques of brackets, such as 3D printing manufacturing technology.
The conventional metal bracket production method often involves several machine configurations and takes a lot of time. On the other hand, 3D printing may provide a better solution. Aerospace was a 3D printing pioneer and is still making significant contributions to the technology's advancement. Highly stable, lightweight, and complicated structures can be produced with 3D printing. 3D printing technology is having numerous advantages fast design & production, waste minimization, time reduction, production of light and flexible equipment, ease of operation, and cost-effectiveness. By using this technology, bracket manufacturing become easier. This trend is creating new opportunities for global aircraft brackets market growth.
Over the forecast period, the global market for aircraft brackets is anticipated to expand significantly. The region of North America and the Asia Pacific is expected to experience a relatively enormous adoption of airplane brackets because of the expanding adoption of air travel and the largest production of aircraft in this region.
The USA, which has one of the largest fleets of both commercial and military aircraft worldwide, is the market's growth engine in the area. The demand for brackets in the nation is primarily driven by the presence of significant OEMs, key bracket manufacturers, and raw material suppliers.
Similarly, Asia-Pacific is expected to witness the highest growth in the targeted market. The increase in commercial aircraft deliveries in the Asia Pacific area is primarily responsible for the market expansion. This is due to an increase in the number of major aircraft OEMs operating in the area, also the introduction of new competitors like COMAC to reduce reliance on Boeing and Airbus, and the expansion of the commercial aircraft fleet to accommodate growing passenger traffic in the region. This has a knock-on effect on the demand for new aircraft brackets in the region.
Key players operating in the Global Aircraft Brackets market include Spirit Aerosystems Inc., Stroco Manufacturing Inc., Triumph Group Inc., Precision Castparts Corp., AIM Aerospace Inc., Arconic Inc., Denroy Plastics Ltd., Premium Aerotec, Tri-Mack Plastics Manufacturing Corporation, Daher Socata SAS, etc.
With the increasing demand for brackets, market participants in this market are anticipated to have profitable growth possibilities in the future. Some of the most popular techniques used by major corporations to maintain their competitiveness in the market include the implementation of long-term supply agreements, patents, events, and the development of new products. These actions have made it possible for market players to increase their customer base and revenue.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.80% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Bracket Type, Aircraft Type, Material, Application, Sales Channel, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, United Kingdom, France, Italy, Spain, Russia, BENELUX, China, Japan, India, South Africa, Northern Africa, GCC Countries, Australia |
| Key Companies Profiled | Spirit Aerosystems Inc.; Stroco Manufacturing Inc.; Triumph Group Inc.; Precision Castparts Corp.; AIM Aerospace Inc.; Arconic Inc.; Denroy Plastics Ltd.; Premium Aerotec; Tri-Mack Plastics Manufacturing Corporation; Daher Socata SAS |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Global Aircraft Brackets market reached over US$ 1,454.3 Million.
During the forecast period, the Global Aircraft Brackets market is estimated to expand at a CAGR of 4.80% from 2022 to 2032.
The Global Aircraft Brackets market is projected to reach US$ 2,435.7 Million by the end of 2032.
North America and the Asia Pacific are projected to lead the Global Aircraft Brackets market in the forecast period.
The key players operating in the Global Aircraft Brackets market are Spirit Aerosystems Inc., Stroco Manufacturing Inc., Triumph Group Inc., Precision Castparts Corp., AIM Aerospace Inc., Arconic Inc., Denroy Plastics Ltd., Premium Aerotec, Tri-Mack Plastics Manufacturing Corporation, and Daher Socata SAS, etc.
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Aircraft Brackets Market
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