This market research report presents a detailed segmentation of the global commercial airframe component market by components (fuselage, wing, and empennage) and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are Avcorp Industries, Exelis, Ferra Engineering, Precision Castparts, and Triumph Group.
Technavio’s market research analysts estimate the global commercial airframe component market to grow at a CAGR of over 4% between 2016 and 2020. The increase in the demand for aircrafts triggered by the growing economy and rising tourism in the key driver for the growth of this market. At present, APAC dominated the global commercial airframe component market by accounting for around 43% of the overall market share. The increase in aircraft fleets in India and China and China’s position as the world’s second largest and fastest growing civil aviation market are some of the factors that will contribute to the growth of the market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the commercial airframe component segments by components.
“Implementation of foldable wings due to innovation in terms of design has been a major contributing factor in the thriving of the global commercial airframe component market. The shift towards blended wing technology is also expected to have a positive influence on the market owing to its ability to reduce the payload and optimum cruise altitude capability,” says Abhay Singh, Lead Analyst, Aerospace & Defense, Technavio Research.
The fuselage segment dominated the global commercial airframe component market in 2015 by accounting for over 53% of the overall market share. The demand for fuselages is constantly increasing due to its importance in the aircraft. Strategic alliances and partnerships formed between vendors and manufacturers are expected to reflect positively on the market growth during the forecast period.
The key vendors in the global commercial airframe component market include Avcorp Industries, Exelis, Ferra Engineering, Precision Castparts, and Triumph Group. The global commercial airframe component market is very competitive and vendors compete on factors like quality, cost, reliability, and aftermarket service to gain maximum market shares. To be able to survive in such a competitive market, it is essential for vendors to provide cost-effective and top-notch services using the latest materials and technology. In-house manufacturing capacity, the range of products, global presence, R&D investments, new technologies, and a strong client base are key areas that vendors have to focus on to gain a competitive edge in the market.
A more detailed analysis is available on the Technavio report, Global Commercial Airframe Component Market 2016-2020.
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