Global Aircraft Struts And Rod Market Overview
Aircraft Struts And Rod Market Size was estimated at 1.57 (USD Billion) in 2022. The Aircraft Struts And Rod Market Industry is expected to grow from 1.63(USD Billion) in 2023 to 2.3 (USD Billion) by 2032. The Aircraft Struts And Rod Market CAGR (growth rate) is expected to be around 3.89% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Aircraft Struts And Rod Market Trends Highlighted
The Aircraft Struts And Rod Market is driven by the rising demand for commercial and military aircraft, as well as the need for regular maintenance and replacement of these components. Stricter regulations and safety standards imposed by aviation authorities have also led to an increase in demand for high-quality struts and rods. Technological advancements such as the adoption of composite materials and lightweight designs are making aircraft structures lighter and more efficient, further driving market growth.
Opportunities for growth lie in the expansion of the aviation industry, particularly in emerging markets, and the increasing adoption of unmanned aerial vehicles (UAVs). Research and development efforts focused on improving the durability, reliability, and weight optimization of struts and rods are expected to create further opportunities for innovation and market expansion.
Recent trends in the aircraft struts and rod market include the growing use of advanced materials such as carbon fiber and titanium, the adoption of digital technologies for predictive maintenance and design optimization, and the increasing demand for customized solutions tailored to specific aircraft requirements.
Aircraft Struts And Rod Market Drivers
- Increasing Demand for Air Travel
Increasing demand for air travel is one of the leading drivers of the Aircraft Struts And Rod Market Industry. The increase in the number of air travelers calls for more aircraft. This drives the demand for commercial aircraft, in the process heating up demand for its components like struts and rods. Reportlinker projects the number of people flying to hit 8.2 billion in 2037, alluding to a promising future for the global airline industry. It implies the growth of aircraft and by extent, demand for aircraft struts and rods.
Technological Advancements in Aircraft Design
The effect is achieved by the technological advances in aircraft design that are fueling the Aircraft Struts And Rod Market Industry. The new aircraft are developed with the use of the more advanced materials and technologies thereby requiring the development and creation of the struts and rods that are able to meet the new conditions. The use of composite materials is growing, and the newer aircraft require the struts and the rods made using these materials.
Growing Focus on Aircraft Safety
Another key market driver for the Aircraft Struts And Rod Market industry is the growing focus on aircraft safety. As the aviation industry becomes more competitive, airlines are placing a greater emphasis on safety. This is leading to an increased demand for aircraft components that meet the highest safety standards. Struts and rods are critical components of aircraft safety, and they must be able to withstand the rigours of flight. As the focus on aircraft safety continues to increase, so too will the demand for struts and rods that meet the highest safety standards.
Aircraft Struts And Rod Market Segment Insights:
Aircraft Struts And Rod Market Aircraft Type Insights
The commercial aircraft segment was estimated to capture the majority of the market by the year 2023 and dominate the market in the later stages as well. The market for this segment is driven by the increasing number of commercial aircraft due to the increasing air travel demand, especially in emerging economies. The International Air Transport Association reported that air passenger traffic is expected to grow by 4.1 percent annually in the next 20 years, and an estimated 8.2 billion passengers are expected to fly by 2032.This air travel demand growth will further increase the demand for new commercial aircraft, which in turn will boost the demand for aircraft struts and rods. The business jets segment is anticipated to experience significant growth in the later stages. This is due to the increasing demand for private and business travel. As per the Global Business Aviation Market Report, an estimated 3.2 percent growth is expected in the global business jet fleet in the next 5 years and is estimated to reach 25,000 aircraft by 2028. The segment is driven by the increasing number of high-net-worth individuals and corporations opting for business jets.The general aviation aircraft segment is also expected to grow at a consistent rate in the later stages. This is due to the increasing demand for general aviation aircraft for recreational, training, and many other purposes.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Aircraft Struts And Rod Market Application Insights
The application segment of the Aircraft Struts And Rod Market is categorized into Landing Gear, Flight Controls, and Fuselage. Landing Gear is expected to hold the largest market share due to the increasing demand for aircraft and the need for reliable landing systems. Flight Controls is projected to witness significant growth owing to the rising adoption of fly-by-wire systems and the increasing focus on aircraft maneuverability. Fuselage is anticipated to exhibit steady growth due to the growing demand for lightweight and durable aircraft structures.The Aircraft Struts And Rod Market segmentation provides valuable insights into the market dynamics and helps stakeholders make informed decisions.
Aircraft Struts And Rod Market Material Insights
The Aircraft Struts And Rod Market is segmented by Material into Aluminum Alloys, Steel Alloys, Titanium Alloys, and Composite Materials. Among these segments, Aluminum Alloys held the largest market share in 2023, accounting for around 40% of the Aircraft Struts And Rod Market revenue. The high strength-to-weight ratio and excellent corrosion resistance of Aluminum Alloys make them ideal for use in aircraft struts and rods. Steel Alloys are expected to witness the highest growth rate during the forecast period, owing to their high strength and low cost.Titanium Alloys are also expected to experience significant growth, due to their high strength-to-weight ratio and excellent corrosion resistance. Composite Materials are gaining popularity in the Aircraft Struts And Rod Market due to their lightweight and high strength.
Aircraft Struts And Rod Market Mechanism Insights
The Aircraft Struts And Rod Market is segmented into various mechanisms, including Hydraulic Struts, Mechanical Struts, and Actuated Rods. Each mechanism offers unique advantages and applications, driving market growth. Hydraulic Struts are widely used in aircraft landing gear systems, providing damping and energy absorption during landing and taxiing. Their ability to handle high-impact loads and provide a smooth ride contributes to their popularity. The global Hydraulic Struts market revenue is expected to reach $X billion by 2024. Mechanical Struts, on the other hand, are simpler in design and rely on mechanical springs or gas springs to provide support and cushioning.They are often used in smaller aircraft, drones, and other applications where weight and cost are critical factors. The global Mechanical Struts market size is estimated to be $Y billion in 2024. Actuated Rods, also known as push-pull rods or control rods, serve as a means of transmitting motion and force in aircraft flight control systems. They enable precise positioning of control surfaces, ensuring stability and maneuverability. The global Actuated Rods market is projected to register a CAGR of Z% during the forecast period, reaching a valuation of $W billion by 2024.Overall, the market segmentation based on mechanism provides insights into the diverse applications and growth potential of Aircraft Struts And Rods in the global industry.
Aircraft Struts And Rod Market End User Insights
The End User segment is a key part of the Aircraft Struts And Rod Market. In recent years, the industry has been driven by growth in the commercial aviation sector. Airbus, Boeing, Mitsubishi Aircraft, Embraer, and Bombardier are some of the major players in this segment. The growth of the market is attributed to the increasing demand for aircraft from the commercial aviation sector. The Asia-Pacific region is expected to be the fastest-growing region in the Aircraft Struts And Rod Market due to the increasing demand for aircraft from China and India.
Aircraft Struts And Rod Market Regional Insights
The regional segmentation of the Aircraft Struts And Rod Market offers insights into the market's geographic distribution and performance. North America is anticipated to dominate the market in 2023, with a substantial market share of around 38.5%. Its dominance can be attributed to the presence of major aircraft manufacturers such as Boeing and Lockheed Martin, coupled with increasing defense spending and investments in aerospace technology. Europe follows closely behind, accounting for approximately 31.2% of the market share. The region benefits from a strong aviation industry and a growing demand for commercial aircraft.APAC is projected to witness significant growth over the forecast period, driven by rising air travel demand and the expansion of low-cost carriers. The APAC region is expected to exhibit a CAGR of 4.5% during the forecast period. South America and MEA are expected to contribute smaller shares to the overall market, but they are anticipated to experience steady growth due to increasing investments in infrastructure and aviation.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Aircraft Struts And Rod Market Key Players And Competitive Insights:
The competitive landscape of the Aircraft Struts And Rod Market is highly fragmented, with a significant number of major players. The leading players in the market include companies such as Moog Inc., Safran SA, and Woodward Inc. These companies have a strong presence in various regions of the world and offer a wide range of Aircraft Struts And Rod products. They compete on factors such as product quality, innovation, cost-effectiveness, and customer service. The Aircraft Struts And Rod Market industry has witnessed several mergers and acquisitions in recent years as companies seek to consolidate their market positions and expand their product portfolios.Moog Inc. is one of the leading players in the Aircraft Struts And Rod Market. The company has a strong presence in North America, Europe, and Asia-Pacific regions. Moog Inc. offers a range of Aircraft Struts And Rod products for various aircraft types, including commercial, military, and business jets. The company has a long history of innovation and is known for its high-quality products and advanced technology. Moog Inc. is committed to providing its customers with reliable and cost-effective solutions, and it has a strong focus on research and development.Honeywell International Inc. is another major player in the Aircraft Struts And Rod Market. The company has a strong presence in North America, Europe, and Asia-Pacific regions. Honeywell International Inc. offers a wide range of Aircraft Struts And Rod products, including hydraulic struts, electric struts, and actuation systems. The company has a strong focus on innovation and is known for its advanced technology and high-quality products. Honeywell International Inc. is committed to providing its customers with reliable and cost-effective solutions, and it has a strong focus on research and development.
Key Companies in the Aircraft Struts And Rod Market Include:
- Boeing
- Moog
- Daher
- Parker Hannifin
- Safran
- Airbus
- Woodward
- Eaton
- Raytheon Technologies
- Liebherr
- Collins Aerospace
- Goodrich
- UTC Aerospace Systems
- Spirit AeroSystems
- Triumph Group
Aircraft Struts And Rod Market Industry Developments
The Aircraft Struts And Rod Market is expected to witness steady growth over the forecast period. The market is primarily driven by increasing demand for commercial and military aircraft, along with the growing emphasis on aircraft safety and efficiency. The ongoing development of advanced materials and technologies is also fueling market growth, as these materials offer lighter weight, higher strength, and improved durability. Furthermore, government regulations mandating the implementation of advanced safety systems in aircraft are expected to boost demand for struts and rods. Key industry participants are investing in research and development to enhance their product offerings and expand their market share. Strategic partnerships and collaborations are becoming increasingly common, enabling companies to leverage complementary technologies and capabilities.
Aircraft Struts And Rod Market Segmentation Insights
- Aircraft Struts And Rod Market Aircraft Type Outlook
- Commercial Aircraft
- Business Jets
- General Aviation Aircraft
- Aircraft Struts And Rod Market Application Outlook
- Landing Gear
- Flight Controls
- Fuselage
- Aircraft Struts And Rod Market Material Outlook
- Aluminum Alloys
- Steel Alloys
- Titanium Alloys
- Composite Materials
- Aircraft Struts And Rod Market Mechanism Outlook
- Hydraulic Struts
- Mechanical Struts
- Actuated Rods
- Aircraft Struts And Rod Market End User Outlook
- Airbus
- Boeing
- Mitsubishi Aircraft
- Embraer
- Bombardier
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.57(USD Billion) |
| Market Size 2023 |
1.63(USD Billion) |
| Market Size 2032 |
2.3(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.89% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Boeing, Moog, Daher, Parker Hannifin, Safran, Airbus, Woodward, Eaton, Raytheon Technologies, Liebherr, Collins Aerospace, Goodrich, UTC Aerospace Systems, Spirit AeroSystems, Triumph Group |
| Segments Covered |
Aircraft Type, Application, Material, Mechanism, End User, Regional |
| Key Market Opportunities |
Rising Demand for Air Travel Increasing Fleet Size Technological Advancements Growing Aerospace Industry Government Initiatives |
| Key Market Dynamics |
Rising demand for fuel-efficient aircraft Increasing aircraft production rates Government regulations for safety and efficiency Technological advancements in materials and manufacturing Growth in the aftermarket for aircraft maintenance and repair |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Aircraft Struts And Rod Market is expected to reach a valuation of USD 1.63 billion in 2023 and is projected to register a CAGR of 3.89% from 2024 to 2032, reaching a valuation of USD 2.3 billion by 2032.
North America is expected to dominate the Aircraft Struts And Rod Market throughout the forecast period due to the presence of major aircraft manufacturers such as Boeing and Lockheed Martin, as well as a strong defense sector in the region.
Aircraft struts and rods are primarily used in landing gear systems, flight control systems, and structural components of aircraft. They provide support, stability, and control to aircraft during takeoff, landing, and.
Some of the key players in the Aircraft Struts And Rod Market include Safran, Honeywell, Meggitt PLC, Liebherr-Aerospace, and Woodward, Inc.
The increasing demand for commercial and military aircraft, rising investments in aircraft maintenance, repair, and overhaul (MRO) services, and technological advancements in aircraft design are the key growth drivers of the Aircraft Struts And Rod Market.
The challenges faced by the Aircraft Struts And Rod Market include intense competition, stringent regulatory requirements, and fluctuations in the price of raw materials.
The emerging trends in the Aircraft Struts And Rod Market include the adoption of lightweight materials, the use of additive manufacturing technologies, and the integration of sensors and electronics into aircraft struts and rods.
The COVID-19 pandemic had a negative impact on the Aircraft Struts And Rod Market due to the decline in air travel and the disruption of supply chains. However, the market is expected to recover as the aviation industry recovers from the pandemic.
The future outlook for the Aircraft Struts And Rod Market is positive. The increasing demand for air travel, the growing number of aircraft in operation, and the technological advancements in aircraft design are expected to drive the growth of the market in the coming years.
The key opportunities for growth in the Aircraft Struts And Rod Market include the development of new aircraft platforms, the expansion of the MRO sector, and the adoption of innovative technologies such as additive manufacturing and sensor integration.
