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 high-yielding 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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