aircraft brackets Market

The aircraft brackets market size is projected to reach US$ 512.25 million by 2031 from US$ 324.25 million in 2023. The market is expected to register a CAGR of 5.0% during 2023-2031. The increasing adoption of lightweight material based aircraft brackets is likely to remain a key trend in the market.

Major stakeholders in the global aircraft brackets market ecosystem are raw material suppliers, bracket manufacturers, and end users.

Raw Material Suppliers: Aluminum, steel, titanium, and composite materials such as orthodontic brackets, copper, and nickel are used to fabricate aircraft brackets. Brass, nickel-chromium-based superalloy, brass, beryllium copper, and phosphor bronze are also used to manufacture brackets. The role of raw material suppliers in the ecosystem of the aircraft brackets market is crucial in ensuring the seamless functioning and reliability of brackets. Acerinox, S.A.; Nippon Steel Corporation; POSCO; Yieh Corp; and ArcelorMittal S.A. are among the major raw material suppliers in the aircraft brackets market ecosystem.

Based on aircraft type, the aircraft brackets market is segmented into commercial aircraft, general aviation, military aircraft, and helicopters. The market, in terms of application, is categorized into aircraft fuselage, aircraft wings, aircraft control surfaces, and others. Based on material, the aircraft brackets market is segmented into aluminum, steel, and others.

North America, Europe, and Asia Pacific are prime regions, followed by the Middle East & Africa and South & Central America. China, the US, France, and the UK are among the major countries contributing to the aircraft brackets market growth.

The global aircraft brackets market is categorized into North America, Asia Pacific, Europe, the Middle East & Africa, and South America. The market growth in the North America region can be attributed to the rise in aircraft orders from the airline companies and government defense sector, government initiatives toward modernization and expansion of aircraft infrastructure, and a rise in the adoption of lightweight material in the production of aircraft brackets. Asia Pacific is projected to register a CAGR of 7.3% from 2023 to 2031. The rise in investment in aircraft fleet expansion to accommodate an increase in air passengers is fueling the market growth in the region. In addition, the government initiative toward expanding and developing new airports is further anticipated to propel the demand for aircraft, which is expected to drive the aircraft brackets market during the forecast period.

The rise in investment to expand aircraft fleets across Europe, the Middle East & Africa, and South America also contributes to the growth of the aircraft brackets market in these regions. In addition, an increase in government initiatives to finance or invest in military and defense aircraft to enhance safety and strengthen the defense sectors of these regions is projected to propel the aircraft brackets market growth during the forecast period. Moreover, the growth of the tourism industry in countries in Asia Pacific region and the Middle East, such as India, Indonesia, Thailand, Singapore, Saudi Arabia, and the UAE, is projected to fuel the demand for aircraft fleets, boosting the aircraft brackets market growth from 2023 to 2031.

Hexagon AB, Singapore Technologies Engineering Ltd, Legend Aerospace, RTP Company, Triumph Group Inc, Spirit AeroSystems Holdings Inc, Premium Aerotec GmbH, Hutchinson SA, Arconic Corp, SEKISUI Aerospace, Godrej & Boyce Manufacturing Co Ltd, Avantus Aerospace Inc, Precision Castparts Corp, Meena cast Pvt Ltd, and STROCO Manufacturing Inc are among the key players covered in the aircraft brackets market report. Companies in the market mainly focus on product and service enhancements by integrating advanced features and technologies into their offerings.