Collapsible Aircraft Wings Global Market Report 2024

The collapsible aircraft wings market size has grown strongly in recent years. It will grow from $2.42 billion in 2023 to $2.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth observed during the historical period can be attributed to various factors, including military requirements, enhanced transportation efficiency, optimization of storage space, and cost reduction initiatives.

The collapsible aircraft wings market size is expected to see strong growth in the next few years. It will grow to $3.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be linked to several factors, including the emergence of urban air mobility, advancements in commercial aviation, the influence of environmental regulations, the importance of emergency response and humanitarian aid efforts, and the continued progression of space exploration initiatives. Major trends expected in this period encompass the integration of electric propulsion systems, advancements in autonomy and unmanned aerial vehicle (UAV) technology, and the evolution of concepts related to urban air mobility (UAM).

The anticipated increase in investments within the defense and military sectors is set to drive growth in the collapsible aircraft wings market. The defense and military sectors encompass critical segments focused on national defense, security, and military operations. The surge in investments within these sectors is propelled by escalating national security threats, strategic imperatives, economic considerations, and geopolitical dynamics. These investments in aircraft wings encompass various stages from research and development to certification, aimed at harnessing the advantages of foldable wing technology to enhance aircraft performance, flexibility, and operational capabilities. Notably, reports from the European External Action Service in December 2022 revealed a substantial increase in defense spending within the European Union, reaching $235.4 billion (€214 billion) in 2021, marking a 6% rise from the preceding year. Consequently, the escalating investments in defense and military domains are fueling growth in the collapsible aircraft wings market.

Leading enterprises in the collapsible aircraft wings sector are adopting strategic partnerships to capitalize on emerging technologies and expand their market footprint. Strategic partnerships entail the collaborative utilization of each other's strengths and resources to achieve mutual growth and success. For example, in March 2023, TATA Advanced Systems Ltd., an India-based aerospace firm, entered into a partnership with Lockheed Martin, a US-based aerospace manufacturer, with a focus on producing advanced aerospace technology in India. This alliance centers on projects such as the F-16 Block 70 and C-130 aircraft, bolstering the aerospace industry and enhancing India's autonomy in defense manufacturing. Additionally, in March 2022, Airbus SE, a Netherlands-based aircraft manufacturer, collaborated with Spirit AeroSystems, a US-based aero systems manufacturer, to develop wings for the next generation of Airbus eVTOL aircraft. This collaboration aims to optimize flight efficiency and support Airbus' exploration of disruptive aircraft designs while adhering to stringent regulations.

In November 2022, Groupe Latécoère, a France-based aerospace corporation, finalized the acquisition of Avcorp Industries Inc. for an undisclosed sum. This strategic acquisition is poised to bolster Latécoère's aerostructures business by expanding its product portfolio, enhancing production capabilities for large-scale composite parts, and securing access to vital aircraft platforms such as the B737 Max and F-35. Avcorp Industries Inc., a Canada-based manufacturer of aero systems, specializes in aircraft wings and composite aerostructure assembly and integration, complementing Latécoère's strategic objectives and reinforcing its position in the aerospace industry.

Major companies operating in the collapsible aircraft wings market are Raytheon Technologies Corporation, The Boeing Company, Lockheed Martin Corporation, Airbus SE, General Dynamics Corporation, Northrop Grumman Corporation, Honeywell Aerospace, Mitsubishi Heavy Industries Ltd, BAE Systems plc, Safran S.A., Thales Group, L3Harris Technologies Inc, Textron Inc, Dassault Aviation SA, Bombardier Aviation, EHang Holdings Limited, Spirit AeroSystems Holdings Inc, Israel Aerospace Industries Ltd, Embraer S.A., Bell Textron Inc, Baykar Technologies, AeroVironment Inc., Yuneec International, Kawasaki Heavy Industries, RUAG Group.

North America was the largest region in the collapsible aircraft wings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the collapsible aircraft wings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the collapsible aircraft wings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Collapsible aircraft wings are a specialized wing design featuring mechanisms that enable partial or complete folding of the wings during specific flight phases or for storage. This design is aimed at enhancing aerodynamic efficiency, maneuverability, and reducing the overall size of the aircraft.

The primary types of collapsible aircraft wings include single-wing, multi-wing, and rotor-wing configurations. A single wing denotes an aircraft setup featuring only one main wing structure extending from each side of the fuselage. These wings are constructed using diverse materials such as metal, composite, and hybrid, tailored for a range of applications such as fixed-wing aircraft, rotary aircraft, unmanned aerial vehicles (UAVs), among others. Original equipment manufacturers and maintenance, repair, and overhaul providers constitute the primary end users of these wing configurations.

The collapsible aircraft wings market research report is one of a series of new reports that provides collapsible aircraft wings market statistics, including collapsible aircraft wings industry global market size, regional shares, competitors with a collapsible aircraft wings market share, detailed collapsible aircraft wings market segments, market trends and opportunities, and any further data you may need to thrive in the collapsible aircraft wings industry. This collapsible aircraft wings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The collapsible aircraft wings market consists of sales of hinges, actuators, folding wings, telescopic wings, rotating wings, wing folding mechanisms, integrated control systems, and ultralight trikes and wings. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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