RAIPUR, India, Dec. 21, 2021 /PRNewswire/ -- Stratview Research announces the launch of a new market research report on Aircraft Slat Systems Market by Aircraft Type (Commercial Aircraft, Regional Aircraft, Military Aircraft, and General Aviation), by Component Type (Slats and Fixed Leading Edge), by Material Type (Aluminum and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Size, Share, Trend, Forecast, & Industry Analysis: 2021-2026.
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today's aircraft slat systems market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of low-hanging fruits available in the market as well as formulate growth strategies.
Aircraft Slat Systems Market: Highlights
Slats are aerodynamic devices located on the leading edge of the aircraft's wings whose purpose is to increase lift during low-speed operations such as takeoff, initial climb, approach, and landing. They are used while landing or performing maneuvers to minimize drag. It comprises slats and a support system. Slats are supported by slat support, racks, and pinions.
The aircraft industry was booming till 2018. The year 2019 proved to be challenging mainly due to the grounding of B737Max aircraft across regions. The sudden outburst of COVID-19 further deepened the market challenges, causing unimaginable disruption and losses for the stakeholders. The aircraft slat systems market depends on the organic growth of the aircraft industry and follows the same trajectory.
The aircraft slat systems market experienced a colossal decline of -31.8% in 2020 amid the pandemic. However, the long-term market outlook is positive because it is backed by the industry's buoyant nature and strong fundamentals. It is gradually heading towards the path of healing and is likely to recoup from 2021 onwards, marking a healthy CAGR of 7.9% during 2021-2026 to reach an estimated value of US$ 0.6 Billion by 2026.
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Based on the aircraft type, commercial aircraft is expected to remain the largest segment of the market during the forecast period. The vast pile of aircraft order backlogs of Boeing and Airbus along with the expected entry of upcoming aircraft programs such as, C919, B777X, and MC-21, are some major factors that are likely to strengthen the segment's market growth soon.
Based on the material type, aluminum is projected to be the leading segment of the market during the forecast period. Slats are located on the leading edge of the wing which exposes to the rain, dirt, hail, etc., which might cause erosion to the slat and its support structures. Aluminum's high resistance to corrosion, high strength-to-weight ratio, and low cost make it the most preferred choice for slat systems.
Based on the component type, the market is segmented as slats and fixed leading edge (slat supports and racks & pinions). Slat is expected to remain the most dominant segment in the market and is also expected to experience faster growth during the forecast period. Slats are extendable high-lift devices on the leading edge of the wings, which helps the airplane to take off and land at lower speeds. Some modern aircraft are gradually using automatic slats and powered-controlled slats.
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In terms of regions, North America is expected to remain the largest region in the aircraft slat systems market during the forecast period. The USA is the growth engine of the region's market, as it is the manufacturing powerhouse of the aerospace industry, creating a humongous demand for aircraft slat systems in the country. Asia-Pacific is likely to mark the fastest recovery during the forecast period, majorly due to the long-term growth opportunities particularly in China, India, and Japan.
The supply chain of this market comprises several nodes including raw material suppliers, salt support system manufacturers, slat manufacturers, tier players, aircraft OEMs, and airline companies. Following are the key players in the aircraft slat systems market:
- Sonaca Group
- Spirit AeroSystems, Inc.
- Triumph Group Inc.
- Korea Aerospace Industries, Ltd.
- ASCO
- Turkish Aerospace
- GKN Aerospace (A Melrose Company)
- Kawasaki Heavy Industries
- Premium AEROTEC
- Kencoa Aerospace Corporation
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors
This report studies the global aircraft slat systems market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
Aircraft Slat Systems Market Size, Share & Forecast by Aircraft Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Slat Systems Market Size, Share & Forecast, by Component Type
- Slats (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fixed Leading Edge (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Slat Systems Market Size, Share & Forecast, by Material Type
- Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Slat Systems Market Size, Share & Forecast, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
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