The Aircraft Slat Systems Market is likely to rebound at a promising CAGR of 7.9% during 2021-2026 to reach a value of US$ 0.6 Billion by 2026.
Segment-Wise Market Analysis
By Aircraft Type
The market is segmented as commercial aircraft, regional aircraft, military aircraft, and general aviation. Despite the garguantan decline in 2020, 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 in the near future.
By Material Type
The market is segmented as aluminum and others. 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.
By 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.
Regional Analysis
North America is expected to remain the largest region in the 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.
Key Players
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. The 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
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