Asia Pacific Aircraft Brackets Market Forecast to 2031 - Regional Analysis by Aircraft Type (Commercial Aircraft, General Aviation, Military Aircraft, and Helicopter), Application (Aircraft Fuselage, Aircraft Wings, Aircraft Control Surfaces, Engine, and

The Asia Pacific aircraft brackets market was valued at US$ 100.72 million in 2023 and is expected to reach US$ 177.60 million by 2031; it is estimated to register a CAGR of 7.3% from 2023 to 2031.

Increasing Global Aircraft Fleet Size Boosts Asia Pacific Aircraft Brackets Market

According to Avolon's study on global commercial passenger aviation, the aviation fleet is expected to grow 94% to reach 46,880 aircraft by 2042. This is owing to the continued growth in demand for air travel, building on the rapid recovery since COVID-19 travel restrictions. According to the study by Avolon, China, India, Asia, and South America are expected to show more than 3.5% growth in air travel from 2023 to 2042. In addition, the huge rise in the number of aircraft fleets from the regions mentioned above is expected to create opportunities for the key aircraft bracket manufacturers across the globe.

In addition, according to the Ch-aviation data on aircraft fleet orders from across the world, as of June 2023, the US accounted for the highest number of aircraft orders (excluding military aircraft and aircraft with unknown operator/engine) globally with a total of 3,147 aircraft on order, followed by Ireland, China, and India with 1,247; 1,239; and 888 aircraft orders, respectively. According to the same data, the top 5 consumers with aircraft orders include United Airlines, IndiGo Airlines, Lion Air, Air Lease Corporation, and AirAsia. Such an increase in orders and the growth of the global aircraft fleet are expected to raise the demand for aircraft brackets, which is anticipated to create opportunities for the key players operating in the market from 2023 to 2031.

According to the Oliver Wyman analysis, the global commercial aircraft fleet currently stands at ~28,398 aircraft and is expected to reach ~36,413 aircraft by the end of 2034. This is expected to generate new opportunities for aircraft component suppliers, including bracket manufacturers, in the coming years.

Asia Pacific Aircraft Brackets Market Overview

Asia Pacific is a large aviation consumer base with more than 4 billion people and dynamic economies that together generate 35% of global GDP. The aviation industry in the region makes a crucial contribution to its social and economic development. The growth of Asia Pacific has been primarily attributed to the wide range of income levels and the rapidly growing middle class. This resulted in robust order gains from the fast-developing economies of Asia Pacific, such as India and China. Asia Pacific is expected to offer ample opportunities for aircraft bracket providers in the future. Asia Pacific has several growing economies, which are leading the growth of a variety of sectors, including aerospace, military & defense, and technology. Asia Pacific has seen heavy imports of modern commercial aircraft in recent years due to the increasing number of international travelers from countries such as India, China, Japan, and Taiwan. The number of airports in the region is increasing, which, in turn, boosts the demand for aircraft fleets from airline companies.

Asia Pacific Aircraft Brackets Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Aircraft Brackets Market Segmentation

The Asia Pacific aircraft brackets market is categorized into aircraft type, application, material, end use, and country.

Based on aircraft type, the Asia Pacific aircraft brackets market is segmented into commercial aircraft, general aviation, military aircraft, and helicopter. The commercial aircraft segment held the largest market share in 2023.

By application, the Asia Pacific aircraft brackets market is segmented into aircraft fuselage, aircraft wings, aircraft control surfaces, engine, and others. The aircraft fuselage segment held the largest market share in 2023.

In the terms of material, the Asia Pacific aircraft brackets market is segmented into aluminum, steel, and others. The aluminum segment held the largest market share in 2023.

By end use, the Asia Pacific aircraft brackets market is bifurcated into OEMs and aftermarket. The OEMs segment held a larger market share in 2023.

By country, the Asia Pacific aircraft brackets market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific aircraft brackets market share in 2023.

Arconic Corp; Godrej & Boyce Manufacturing Co Ltd; Hexagon AB; Hutchinson SA; Legend Aerospace; Meena cast Pvt. Ltd.; Precision Castparts Corp.; RTP Company; SEKISUI Aerospace; Singapore Technologies Engineering Ltd; Spirit AeroSystems Holdings Inc; and Triumph Group Inc are some of the leading companies operating in the Asia Pacific aircraft brackets market.

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