Slats are aerodynamic devices placed on the leading edge of aircraft wings which helps increase lift during low-speed aircraft operations including take-off, initial climb, approach and landing. They are applied while landing or manoeuvring to reduce drag. It comprises slats and a support system supported by slat supports, racks and pinions. The widescale renovation of existing aircraft and rising commercial aircraft fleet size is bolstering the growth of the market.
MARKET SCOPE
The "Global Aircraft Slat Systems Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Aircraft Slat Systems market with detailed market segmentation by type, aircraft type, and geography. The global Aircraft Slat Systems market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Aircraft Slat Systems market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global Aircraft Slat Systems market is segmented into fixed, automatic slats, and powered controlled slats.
- On the basis of aircraft type, the market is segmented into commercial aircraft, military aircraft, business jets
MARKET DYNAMICS
Drivers:
- Development of new aircraft and replacement of slat systems in existing ones
- Increase in air travel and consequent production of aircraft
Restraints:
- Overdependence on China for raw material supply
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aircraft Slat Systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyses factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Aircraft Slat Systems market in these regions.
IMPACT OF COVID-19 ON AIRCRAFT SLAT SYSTEMS MARKET
The COVID-19 pandemic had a largely negative impact on the global aviation industry due to the drastic fall in aircraft production and closure of air travel worldwide. Notably, major aircraft manufacturers, such as Boeing and Airbus, reduced their production forecasts by 50%. The total airlines' industry revenues dropped by 40% to $328 billion in 2020 due to the declining demand for air travel and wide-scale flight cancellation. Air cargo traffic levels contracted during the pandemic's peak due to weak global trade growth and capacity limitations. However, near-term air traffic has begun to recover owing to successful implementation of vaccine drives and creates a good market for Aircraft Slat Systems in the long term. In addition to the near-term impact, the global aviation industry implements longer-term strategies involving reduced capacity, shifting route patterns, and mitigation strategies related to the effects of COVID-19. Furthermore, the demand for aircraft slat systems from defense agencies is stable and the market is regaining momentum from the last quarter of 2021.
MARKET PLAYERS
The report covers key developments in the Aircraft Slat Systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership and collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Aircraft Slat Systems market are anticipated to lucrative growth opportunities in the future with the rising demand for Aircraft Slat Systems in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Aircraft Slat Systems market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Sonaca Group
- Spirit Aerosystems, Inc.
- Triumph Group Inc.
- Korea Aerospace Industries Limited
- Hexagon AB
- Sandvik Coromant
- GKN Aerospace (a Melrose company)
- Kawasaki Heavy Industries
- Premium Aerotech
- S.S. White Technologies, Inc.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.