The global aerospace parts manufacturing market size is
expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the
forecast period, according to a new report by Grand View Research, Inc.
Increasing passenger and freight traffic in emerging economies is driving the
demand for next-generation aircraft, which in turn is expected to boost the
market growth.
A majority of the aircraft manufacturing
companies are integrated across the value chain and are highly active in the
parts manufacturing process. These companies have in-house production
facilities as well as supplier contracts for the procurement of these parts.
The manufacturers are also involved in raw material procurement and designing
and quality control of the parts offered by third party suppliers.
The market for aerospace part manufacturing is
primarily concentrated in North America and Europe, owing to the presence of
major aircraft manufacturers. China and India are expected to emerge as the
leading markets in the forthcoming years, owing to the rapid growth of aircraft
part manufacturing and export activities. The global trade in components and
sub-assemblies has increased by approximately 25% during the past decade.
However, the sector still remains consolidated with the top 3 countries
including U.S., Germany, and France, accounting for over 60% of the total
aircraft manufacturing.
The market has observed a trend of a
collaboration of the major companies entering into a joint venture. This helps
the companies to sustain in the highly competitive market in terms of geographical
expansion, technological advancements, and lowering the risk of failure. This
also aids the companies to easily access the market for gaining long term
contracts.
Browse full research report on Aerospace
Parts Manufacturing Market:
Further key
findings from the report suggest:
- In 2019, aerostructure dominated the product
segment, with 52.2% of revenue share on account of strong replacement rate
of aluminum with high-cost composites in fuselage and airframe structures
- Commercial aircraft segment is estimated to
expand at the fastest CAGR of 4.6% over the forecast period, as
significant changes are being incorporated in the aircraft structure to
reduce the carbon emissions by replacing existing parts with lightweight
materials
- The market in Asia Pacific was valued at USD
149.6 billion in 2019 and is expected to expand at the highest CAGR owing
to the rapid growth of aviation industry, augmenting the growth of MRO
services thereby impacting aerospace parts manufacturing industry on a
positive note
- The aerospace parts manufacturing market has
stringent manufacturing norms, safety regulations, and certifications,
which restricts the entry of new entrants
- Emerging players in Asia offering low-cost
innovative solutions to the end-users are expected to challenge the
established players in North America and Europe, leading to competition
disruption in the market
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/aerospace-parts-manufacturing-market/request/rs1
Grand
View Research has segmented the global aerospace parts manufacturing market on
the basis of product, end use, and region:
Aerospace
Parts Manufacturing Product Outlook (Revenue, USD Billion, 2016 - 2027)
- Engines
- Aircraft
Manufacturing
- Cabin Interiors
- Equipment, System,
and Support
- Avionics
- Insulation
Components
Aerospace
Parts Manufacturing Aircraft Outlook (Revenue, USD Billion, 2016 - 2027)
- Commercial Aircraft
- Business Aircraft
- Military Aircraft
- Others
Aerospace
Parts Manufacturing Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Netherlands
- Asia Pacific
- Indonesia
- Malaysia
- Philippines
- China
- Japan
- Australia
- Central & South
America
- Brazil
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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