The global aerospace parts manufacturing market size was valued at USD 840.5 billion in 2020, and is predicted to be worth around USD 1.30 trillion by 2030, registering a CAGR of 3.9% during the forecast period 2022 to 2030.
The rising demand for lightweight, new-generation and fuel-efficient aircraftowing to the emphasis on reducing Greenhouse Gas (GHG) emissions is predicted to boost market growth over the forecast period.The aerospace industry was severely impacted due to the COVID-19pandemic as manufacturers were unable to export the product owing to the trade limitations placed by the various governments. In addition, the majority of the manufacturers suspended operations across all the major economies to comply with the norms for lockdown, which impacted market growth.
The market for aerospace parts manufacturing is expected to witness a supply-demand gap, leading to a rise in the order backlog of aircraft deliveries. This is expected to encourage the OEMs (aircraft manufacturers) to temporarily increase their production levels to match the order backlog over the forecast period. The manufacturers are expected to witness a significant increase in revenue across the supply chain, owing to the market. The U.S. exhibits the largest market for aircraft parts manufacturing, owing to the presence of established aircraft manufacturing base, coupled with huge potential for aerospace MRO activities. Also, advanced technological capabilities, coupled with airworthiness for the production of superior-quality products, including critical aircraft parts, such as wings and fuselage, are expected to boost industry growth.
|Market Size||US$ 1.30 Trillion by 2030|
|Growth Rate||CAGR of 3.9% From 2022 to 2030|
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, End use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||JAMCO Corp.; Intrex Aerospace; Rolls Royce plc; CAMAR Aircraft Parts Company; Safran Group; Woodward Hexcel; Engineered Propulsion System; Eaton Corp. plc; Aequs; GE Aviation; Textron, Inc.; Raytheon Technologies Corp.; MTU Aero Engines AG; Superior Aviation Beijing; Honeywell International, Inc.; Mitsubishi Heavy IndustriesLtd.; Composite Technology Research Malaysia Sdn. Bhd. (CTRM); Kawasaki Heavy Industries Ltd.; IHI Corp.; Subaru Corp.; Lufthansa Technik AG; Spirit AeroSystems, Inc.; Ducommun,Inc.;Liebherr International AG; Elektro-Metall Export GmbH; Diehl Aviation; Panasonic Avionics Corp.; Thales Group; Dassault Group; Parker Hannifin Corp.;Chemetall GmbH; Daher Group; Triumph Group|
By Product Analysis
The aerostructure segment accounted for the largest revenue share of more than 51.0% of the market for aerospace parts manufacturing 2021. Increasing usage of composites for manufacturing fuselage to reduce fatigue maintenance, in high tension loaded environment, is expected to increase the overall cost of aero-structure, thereby impacting market growth on a positive note.
Cabin interiors exhibit less complex structure as compared to airframe parts, however, it demonstrates mechanical requirements set by regulatory authorities, such as stringent fire, smoke, and toxicity limits. Hence, high-strength, lightweight, and space-saving solutions coupled with exceptional fire prevention and smoke detection are used for the manufacture of cabin interiors.
The insulation components segment is expected to witness significant growth during the projected period owing to their rapid replacement rate. Rising aircraft MRO activities, owing to the expanding aircraft fleet, are predicted to fuel the demand for these components over the projected period.
By End-use Analysis
The commercial aircraft segment led the market for aerospace parts manufacturing and accounted for over 50% share of the global revenue in 2021. The segment estimated the highest demand owing to the rise in passenger and freight traffic.
The product demand for business aircraft is expected to rise owing to low prices and an increase in the size of the aircraft. Business aircraft are anticipated to boost productivity, as air travel requires less time compared to other modes of travel. This is expected to drive the demand for business aircraft over the forecast period, thereby benefitting the industry growth.
Increasing demand for advanced composite materials for the manufacturing of innovative fighter planes is expected to aid industry growth. Also, increasing demand by NATO countries for surveillance aircraft as well as fighter aircraft, owing to rising security threats, is anticipated to positively impact the industry growth over the forecast period.
By Regional Analysis
North America dominated the aerospace parts manufacturing market and accounted for the largest revenue share of more than 51% in 2021owing to the presence of key aircraft parts manufacturers and the well-established aircraft manufacturing industry in the region.
Asia Pacific is estimated to be the fastest-growing market for aerospace parts manufacturing with a CAGR of 7.3% owing to the rapid expansion of the aviation industry and growth of the Maintenance, Repair, and Overhaul(MRO)sector in the region. This is expected to have a positive impact on regional market growth.
Rolls Royce plc
CAMAR Aircraft Parts Company
Engineered Propulsion System
Eaton Corporation plc
Raytheon Technologies Corp.
MTU Aero Engines AG
Superior Aviation Beijing
Honeywell International, Inc.
Mitsubishi Heavy Industries, Ltd.
Composite Technology Research Malaysia Sdn. Bhd. (CTRM)
Kawasaki Heavy Industries Ltd.
Lufthansa Technik AG
Spirit AeroSystems, Inc.
Liebherr International AG
Elektro-Metall Export GmbH
Panasonic Avionics Corp.
Parker Hannifin Corp.
Equipment, System, and Support
Central & South America
Middle East & Africa
The aerospace parts manufacturing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of aerospace parts manufacturing market for the base year 2021 and the forecast between 2022 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global aerospace parts manufacturing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the aerospace parts manufacturing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted aerospace parts manufacturing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the aerospace parts manufacturing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of aerospace parts manufacturing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global aerospace parts manufacturing market. These figures have been provided in terms of both revenue and volume for the period 2019 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major aerospace parts manufacturing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of aerospace parts manufacturing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the aerospace parts manufacturing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
aerospace parts manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to aerospace parts manufacturing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of aerospace parts manufacturing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new aerospace parts manufacturing market. These factors have benefited the growth of the global market for aerospace parts manufacturing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for aerospace parts manufacturing. The global market is segmented on the basis of region, application, end-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of aerospace parts manufacturing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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