Overview and Scope
Collapsible aircraft wings refer to a type of aircraft wing design that incorporates mechanisms allowing the wings to fold or collapse partially or fully during certain phases of flight or for storage purposes. These wings are designed to optimize aerodynamic performance, improve maneuverability, and reduce the aircraft's overall size.
Sizing and Forecast
The collapsible aircraft wings market size has grown strongly in recent years. It will grow from $2.42 billion in 2023 to $2.60 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to military needs, transportation efficiency, storage space optimization, cost reduction.
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 growth in the forecast period can be attributed to urban air mobility, commercial aviation, environmental regulations, emergency response and humanitarian aid, space exploration. Major trends in the forecast period include integration with electric propulsion, autonomy and unmanned aerial vehicles (UAVs), evolving urban air mobility (UAM) concepts.
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Segmentation & Regional Insights
The collapsible aircraft wings market covered in this report is segmented –
1) By Type: Single Wing, Multi Wing, Rotor Wing
2) By Material: Metal, Composite, Hybrid
3) By Application: Fixed Wing Aircraft, Rotary Aircraft, Unmanned Aerial Vehicle (UAVs), Other Applications
4) By End-User: Original Equipment Manufacturers, Maintenance, Repair, And Overhaul
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.
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Major Driver Impacting Market Growth
Increasing investments in the defense and military sectors are expected to propel the growth of the collapsible aircraft wings market going forward. he defense and military sectors refer to segments of the economy and government dedicated to national defense, security, and military operations. The rise in defenses and military investment is due to rising national security threats, strategic priorities, economic factors, and political dynamics. Investments in aircraft wings used to span research and development, materials science, design, testing, manufacturing, integration, and certification, aimed at realizing the benefits of foldable wing technology for enhanced aircraft performance, flexibility, and operational capabilities. For instance, in December 2022, according to reports published by the European External Action Service, a Luxembourg-based government organization, defense spending in the European Union surged to $235.4 (€214 billion) in 2021, an increase of 6% from the previous year. Therefore, increasing investments in the defense and military sectors are driving the growth of the collapsible aircraft wings market.
Key Industry Players
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
The collapsible aircraft wings market report table of contents includes:
1. Executive Summary
2. Collapsible Aircraft Wings Market Characteristics
3. Collapsible Aircraft Wings Market Trends And Strategies
4. Collapsible Aircraft Wings Market - Macro Economic Scenario
5. Global Collapsible Aircraft Wings Market Size and Growth
.....
32. Global Collapsible Aircraft Wings Market Competitive Benchmarking
33. Global Collapsible Aircraft Wings Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Collapsible Aircraft Wings Market
35. Collapsible Aircraft Wings Market Future Outlook and Potential Analysis
36. Appendix
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