North America Aircraft Brackets Market Forecast to 2031 - Regional Analysis by Aircraft Type, Application, Material, and End Use

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; it is anticipated to reach a CAGR of 6.0% from 2023 to 2031 .

Increasing Orders and Deliveries of Narrow Body Aircraft Fuel North America Aircraft Brackets Market

The aviation industry has matured rapidly over the years, recording a significant number of aircraft production and deliveries. This has showcased massive order volumes for various commercial aircraft manufacturers worldwide. Commercial aviation is foreseen to surge in the coming years with an increase in air travel passengers and aircraft volumes. The increase in orders of narrow body passenger and commercial aircraft across the globe drives the demand for aircraft brackets. After the COVID-19 pandemic and ongoing geopolitical wars in Europe and the Middle East, the global economy is weakening. However, people's desire to travel and the flow of travel have increased. In addition, the rapid growth of secondary and tertiary airports has continued due to the COVID-19 pandemic. Hence, airlines plan to expand to more remote locations by launching routes to smaller city airports. With the increasing number of aircraft and airports, the demand for aircraft brackets is also rising.

In the last two years, Boeing and Airbus have seen a significant increase in orders for narrow body aircraft. According to the Airbus order and delivery database, there were 820 commercial aircraft orders in 2022, which rose to 2094 in 2023, as shown in the above figure. However, according to the data, there is a rise in deliveries for narrow body aircraft - such as A220, A319 & A320, and A321 - compared to the wide body aircraft - such as A330 and A350 - in 2023, shown in the figure below.

Airbus and Boeing are the two aircraft manufacturing giants with significantly higher volumes of orders and delivery statistics. These two aircraft original equipment manufacturers (OEMs) continuously encounter orders for various aircraft models from civil airlines. The table below highlights the comparison of orders and deliveries from Airbus and Boeing during 2020-2023:

Aircraft Orders and Deliveries, by Boeing and Airbus, 2020 and 2023

Years

2020

2021

2022

2023

Commercial Aircraft

Aircraft Manufacturers

Boeing

Airbus

Boeing

Airbus

Boeing

Airbus

Boeing

Airbus

Orders

184

383

909

771

935

1078

1456

2319

Deliveries

157

566

340

609

480

661

528

735

Moreover, Airbus forecasts that 40,850 new passenger and cargo aircraft will be delivered over the next 20 years, of which 32,630 will be typical single-aisle aircraft and 8,220 will be typical wide body aircraft from 2023 to 2042. In addition, the demand for freight aircraft is projected to reach 2,510 aircraft, with 920 newly built during the same timeframe. Thus, the increase in orders and deliveries of narrow body aircraft drives the market.

North America Aircraft Brackets Market Overview

The US, Canada, and Mexico are the major economies in North America. The expansion of aircraft fleets across the region primarily drives the aircraft brackets industry in North America. Additionally, the growing aviation industry in countries such as the US and Canada drives the aircraft brackets market. The aviation industry is one of the most notable industries in the US. According to data released by Airlines for America in 2023, commercial aviation accounted for 5% of US GDP and US$ 1.25 trillion in 2022. In addition to the rise in air passenger traffic, government initiatives to increase aircraft fleets in defense and commercial aviation sectors are expected to fuel the demand of North America aircraft brackets market during the forecast period.

North America Aircraft Brackets Market Segmentation

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

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 the largest market share in 2023.

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 the largest market share in 2023.

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

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

By country, the North America aircraft brackets market is segmented into the US, Canada, and Mexico. The US dominated the North America aircraft brackets market share in 2023.

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 are some of the leading companies operating in the North America aircraft brackets market.

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