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Aircraft Strut Market

Market Insights on Aircraft Strut Market covering sales outlook, demand forecast & up-to-date key trends

Aircraft Strut Market by Aircraft Body Type, Operation, Position, Product, End Use & Region - Forecast 2022 - 2032

Aircraft Strut Market Snapshot

The global aircraft strut market size is anticipated to reach US$ 3.9 Billion in 2022 and exhibit growth at a CAGR of 6.5% in the forecast period from 2022 to 2032. Increasing procurement of narrow-body aircraft and regional jets that are profitable, as well as efficient on short haul flights is projected to bode well for the market. As per the report, sales of aircraft struts are expected to surpass US$ 8.5 Billion by 2032.

Report Attribute

Details

Aircraft Strut Market Estimated Base Year Value (2021)

US$ 2.4 Billion

Aircraft Strut Market Expected Market Value (2022)

US$ 3.9 Billion

Aircraft Strut Market Anticipated Forecast Value (2032)

US$ 8.5 Billion

Aircraft Strut Market Projected Growth Rate (2022-2032)

6.5% CAGR

Aircraft struts are considered to be a significant component in the assembly of an aircraft. The aircraft is surging traffic on a daily basis with more than one trip covered by a single aircraft across the globe.

Thus, the need for risk-free and seamless landing, as well as takeoff are growing at a fast pace. Aircraft struts are used to absorb shock during landing and take-off.

Majority of the shock absorbing struts are developed by using axles that act as a part of the lower cylinder to offer installation of the aircraft wheels. These are specially designed to damp out vertical oscillations, as well as cushion the landing.

On modern aircraft, the oleo-pneumatic strut is commonly used as a type of shock absorber. It is mainly utilized on the largest cargo airplanes across the globe. It provides a rough-field landing capacity and helps in cushioning the airframe from the impacts of taxiing.

How are Low-cost Carriers Pushing the Aircraft Strut Market Growth

Increasing number of new aircraft fabrication orders in both developed and developing economies is projected to drive the aircraft strut market growth in future years. The rising number of various low-cost carriers owing to the high air traffic is another vital factor that is anticipated to augur well for the global market.

Several low-cost carriers are nowadays choosing single aisle aircraft as these have a comparatively less profit margin and operate on small routes. The surging focus of regulatory bodies on connecting small airports to enhance a country’s air network is compelling airliners to procure regional jets. These factors are estimated to drive the growth in this market.

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Which Factors May Hamper Sales of Aircraft Struts by 2032

Delay and congestion in air traffic is one of the major issues that can negatively affect the commercial aircraft sector. As the demand for airspace and aircraft is exceeding the available capacity, the delay in air traffic is surging at a rapid pace. These delays can be eliminated by altering the demand for air traffic, as well as expanding the overall capacity.

However, increasing capacity is a long-term process that would require numerous adjustments, such as improvements in navigational equipment, basic process modifications, and facility development. Spurred by the aforementioned factors, sales of aircraft struts may decline in the evaluation period.

Are China and India Propelling the Asia Pacific Aircraft Strut Market Growth

Various emerging economies, such as India and China are expected to create new growth opportunities for key players based in Asia Pacific. The demand for aircraft struts is likely to grow at a fast pace across this region backed by increasing investments by government bodies to improve the air network.

Besides, the high air traffic in developing countries owing to the rising disposable income and availability of discounts on online ticket booking platforms are projected to augment the regional market. As per the India Brand Equity Foundation (IBEF), in FY22, the country’s passenger traffic stood at 131.62 million. It is expected to increase in future, thereby pushing sales in Asia Pacific.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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How is the North America Aircraft Strut Market Progressing

The high demand for commercial aircraft in the U.S. and Canada stoked by destination expansion plans and aircraft fleet modernization activities is anticipated to boost the North America aircraft strut market share in the upcoming years. Newer generation narrow-body aircraft are gaining immense popularity across this region with the success of the low-cost carrier business model.

Advanced narrow-body aircraft provide high fuel efficiency and low cost of operation in short-haul routes. The huge domestic demand across North America is projected to contribute to the growth. In addition to that, the introduction of new routes is likely to drive the market.

Market Competition

Some of the renowned companies operating in the global aircraft strut market include Birken Manufacturing, Circor Aerospace, Inc., Malabar Inc., PCC Aerostructures, Bansbach Easylift of North America, Crompton Technology Group Ltd., QRP, Inc., New Brow Aerospace, Wicks Aircraft Supply, Fiber Dynamics, Inc., Robart Mfg, and Lefiell Manufacturing Co. among others.

The global market is highly fragmented with the presence of the above-mentioned key players. Majority of these players are striving to expand their portfolios by launching cutting-edge products. Meanwhile, a few other companies are tying up with reputed airliners to deliver their in-house products and gain a competitive advantage in the market.

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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 6.5% from 2022 to 2032

Base Year for Estimation

2021

Historical Data

2015-2020

Forecast Period

2022-2032

Quantitative Units

Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segments Covered

  • Aircraft Body Type
  • Operation
  • Position
  • Product Type
  • End User
  • Region

Regions Covered

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Argentina
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Nordics
  • BENELUX
  • Australia & New Zealand
  • China
  • India
  • ASEAN
  • GCC
  • South Africa

Key Companies Profiled

  • Birken Manufacturing
  • Circor Aerospace, Inc.
  • Malabar Inc.
  • PCC Aerostructures
  • Bansbach Easylift of North America
  • Crompton Technology Group Ltd., QRP, Inc.
  • New Brow Aerospace
  • Wicks Aircraft Supply
  • Fiber Dynamics, Inc.
  • Robart Mfg
  • Lefiell Manufacturing Co.

Customization

Available Upon Request

Key Segments Profiled in the Aircraft Strut Industry Survey

By Aircraft Body Type:

  • Small Body Aircraft
  • Wide Body Aircraft
  • Very Large Body Aircraft
  • Regional Aircraft

By Operation:

  • Hydraulic
  • Pneumatic

By Position:

  • Front Wheels
  • Rear Wheels

By Product Type:

  • Rigid Aircraft Struts
  • Spring Steel Aircraft Struts
  • Shock Struts
  • Bungee Cords

By End User:

  • Commercial
  • Military

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

Frequently Asked Questions

The global aircraft strut market is anticipated to surpass US$ 8.5 Billion in 2032.

Asia Pacific is set to lead the aircraft strut market in the forecast period.

Birken Manufacturing, Circor Aerospace, Inc., Malabar Inc., PCC Aerostructures, Bansbach Easylift of North America, and Crompton Technology Group Ltd. are some of the renowned companies in the aircraft strut market.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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