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

The South & Central America aircraft brackets market was valued at US$ 15.68 million in 2023 and is expected to reach US$ 20.10 million by 2031; it is estimated to register a CAGR of 3.1% from 2023 to 2031.

Increasing Global Aircraft Fleet Size Fuels South & Central America 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 & Central 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 fleet from the regions mentioned above is expected to create opportunities for the key aircraft bracket manufacturers across the globe. 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.

South & Central America Aircraft Brackets Market Overview

The improvement in social conditions and the changed economic structure accelerated the development of South & Central America. South & Central American countries are upgrading their airport systems with modern technologies to reduce operational time. Commercial aircraft service companies are also expanding their services in the region. According to Boeing's Commercial Market Outlook report, South & Central America is likely to see an increase in demand for fleet deliveries of about 3,040 over the next 20 years.

In South & Central America, air traffic is expected to double over the next two decades from 350 million people in 2019 to 520 million in 2037, driven by increasing numbers of passengers and tourists with significant disposable income. Passenger traffic in the region has also grown significantly in recent years. According to Airbus' Global Market Forecast (2019-2038), South & Central America and the Caribbean will need to develop 2,720 new passenger and cargo aircraft by 2037 to meet the increasing demand for new aircraft. Hence, the growing aircraft fleet in the region is expected to increase the demand for aircraft brackets in landing gears, fuel tanks, wings assembly, and airframe assembly, among other applications.

South & Central America Aircraft Brackets Market Segmentation

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

Based on aircraft type, the South & Central 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 South & Central 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 South & Central 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 South & Central America aircraft brackets market is bifurcated into OEMs and aftermarket. The OEMs segment held a larger market share in 2023.

By country, the South & Central America aircraft brackets market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America aircraft brackets market share in 2023.

Arconic Corp; Hexagon AB; Hutchinson SA; Precision Castparts Corp.; SEKISUI Aerospace; and Spirit AeroSystems Holdings Inc are some of the leading companies operating in the South & Central America aircraft brackets market.

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