5.1.3Segment

Aerospace Structures & Components

Manufacturers of fuselage assemblies, aircraft interiors, landing gear systems, and structural aerospace components.

4
Verticals

Overview

Aerospace Structures & Components covers manufacturers of fuselage assemblies, aircraft interiors, landing-gear systems, and structural aerospace components. As tier-1 and tier-2 suppliers to the airframe OEMs, the segment's fortunes track commercial aircraft production rates, which fell sharply in 2017–22.

Demand is recovering with aircraft production, but the supplier base has been financially stressed by the downturn and supply-chain disruption. It is consolidating, with OEMs and tier-1s acquiring and rationalizing the supply chain, and composites and advanced structures a growth area.

Market snapshot

Market size
~$34B
Growth
~-0.7%CAGR (2017–22, nominal)
Companies
~910
FragmentationConsolidating

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 336413 (Other Aircraft Parts & Auxiliary Equipment); growth tracks the 2017–22 commercial-production downturn.

Business model & economics

Revenue model
Structural-component and assembly sales to OEMs
Recurring revenue
Moderate — production-rate-driven, with aftermarket
EBITDA margin
Production-rate- and program-driven
Capex intensity
High
  • Tier-1/2 suppliers tracking aircraft production rates.
  • Supplier base stressed by the downturn.
  • Composites and advanced structures a growth area.

M&A deal context

Moderate deal activity

Who’s acquiring

Tier-1 aerospace suppliersPE-backed supply-chain consolidatorsOEMs rationalizing the supply chain

What’s driving deals

  • Supply-chain consolidation and rationalization.
  • Production-rate recovery.
  • Composites and advanced-structures growth.

Verticals in this segment

  • 5.1.3.1Aerostructures & Fuselage Assemblies

    Manufacturers of aircraft structural assemblies and fuselage sections.

  • 5.1.3.2Aircraft Interiors & Cabin Systems

    Suppliers of seating, galleys, lavatories, and cabin interior components.

  • 5.1.3.3Landing Gear & Actuation Systems

    Manufacturers of landing gear and hydraulic actuation systems.

  • 5.1.3.4Wing & Empennage Structures

    Manufacturers of wing boxes, spars, and tail assembly structures.

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