At 6.0% CAGR, North America Aircraft Brackets Market is Projected to be Worth US$ 137.67 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America aircraft brackets market was valued at US$ 86.17 million in 2023 and is expected to reach US$ 137.67 million by 2031, registering a CAGR of 6.0% from 2023 to 2031. Increasing adoption of lightweight material-based aircraft brackets and increasing orders and deliveries of narrow body aircraft are among the critical factors attributed to drive the North America aircraft brackets market growth.

The rise in the adoption of lightweight materials to manufacture aircraft brackets is expected to be the key trend in the aircraft brackets market growth in the coming years. A composite material is a unique combination of two or more materials whose properties, when combined, exhibit exceptional physical and chemical properties. One such composite material is carbon fiber reinforced plastic (CFRP), in which microscopic carbon fibers are attached to a plastic resin. Individually, carbon fiber or plastic resin cannot provide mechanical and thermal properties required for an aircraft structure. However, by precisely combining the two, the composite's strength exceeds that of many conventional metals, including aluminum and iron. In addition, the composite material is much lighter than aluminum and has significantly higher corrosion resistance. The use of lightweight composite material enhances net fuel efficiency and minimizes maintenance costs. Currently, most aircraft manufacturers use composite material and composite material-based components in their aircraft structure. For example, more than 50% of the structure of the Airbus A350 XWB is made of composite material. The extensive use of lightweight materials on the A350 contributes directly to net fuel consumption. A lighter structure can carry more payload over a greater distance than a traditional aluminum structure. Due to the airframe's overall strength, the A350 requires less maintenance during its operational life. In addition, the materials' greater corrosion resistance increases the airframe's lifespan. The aircraft companies are adopting strategies such as collaboration, product development, and partnerships to increase the adoption of composite material-based aircraft brackets. For instance, in June 2024, Diehl Aviation and 9T Labs introduced an Eco Bracket solution for aircraft cabin equipment. This new solution uses 3D-printed carbon fiber elements and reused thermoplastic composites, which replace conventional aluminum components used in aircraft cabins. The Eco Bracket solution features a 50% weight reduction compared to aluminum, achieved through a combination of lightweight materials and design optimization. This significant weight reduction results in lower fuel consumption for airlines. In addition, in October 2021, Arris Composites collaborated with Airbus. This collaboration aimed to conduct a composite research project on the production of cabin brackets using innovative manufacturing techniques and materials. Key strategies and developments adopted by the companies operating in the aircraft brackets value chain will gain competition among the others toward the development of lightweight material-based and efficient aircraft brackets, which in turn is projected to increase the adoption of lightweight material-based aircraft brackets from 2023 to 2031.

On the contrary, suspended production of B737 max program and grounding of airbus A320 by spirit airlines hampers the growth of North America aircraft brackets market.

Based on aircraft type, the North America aircraft brackets market is segmented into commercial aircraft, general aviation, military aircraft, and helicopter. The commercial aircraft segment held 55.7% market share in 2023, amassing US$ 47.97 million. It is projected to garner US$ 76.99 million by 2031 to register 6.1% CAGR during 2023-2031.

By application, the North America aircraft brackets market is segmented into aircraft fuselage, aircraft wings, aircraft control surfaces, engine, and others. The aircraft fuselage segment held 47.6% share of North America aircraft brackets market in 2023, amassing US$ 41.02 million. It is anticipated to garner US$ 68.62 million by 2031 to expand at 6.6% CAGR during 2023-2031.

In the terms of material, the North America aircraft brackets market is segmented into aluminum, steel, and others. The aluminum segment held 66.0% share of North America aircraft brackets market in 2023, amassing US$ 56.86 million. It is anticipated to garner US$ 90.37 million by 2031 to expand at 6.0% CAGR during 2023-2031.

end use, the North America aircraft brackets market is bifurcated into OEMs and aftermarket. The OEMs segment held 66.2% share of North America aircraft brackets market in 2023, amassing US$ 57.02 million. It is anticipated to garner US$ 93.36 million by 2031 to expand at 6.4% CAGR during 2023-2031.

Based on country, the North America aircraft brackets market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 62.8% share of North America aircraft brackets market in 2023. It was assessed at US$ 54.11 million in 2023 and is likely to hit US$ 89.83 million by 2031, registering a CAGR of 6.5% during 2023-2031.

Key players operating in the North America aircraft brackets market are Arconic Corp; Godrej & Boyce Manufacturing Co Ltd; Hexagon AB; Hutchinson SA; Legend Aerospace; Precision Castparts Corp.; Premium Aerotec GmbH; RTP Company; SEKISUI Aerospace; Singapore Technologies Engineering Ltd; Spirit AeroSystems Holdings Inc; STROCO Manufacturing Inc.; and Triumph Group Inc, among others.

• In June 2023, Spirit AeroSystems announced an expansion of its manufacturing role for Honda Aircraft Company's all-new light jet that was first introduced at the 2021 NBAA-BACE as the HondaJet 2600 Concept. The work includes an innovative build-to-print composite fuselage and a composite bonded frame. The new statement of work leverages Spirit's technical expertise to implement affordable design and manufacturing efficiencies.
  
  

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