AEROSPACE PARTS MANUFACTURING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The aerospace parts manufacturing market faces several challenges. Manufacturers must contend with rising costs of raw materials due to high demand from the industry. They also face stiff competition from other parts suppliers. Strict quality and safety standards set by regulatory bodies increase production expenses. Ongoing trade wars and protectionism have disrupted supply chains and export markets. Additionally, the industry is heavily dependent on large aircraft OEMs, leaving parts makers vulnerable to the cyclical nature of orders from a small number of customers.

Market Opportunities: Adoption of Additive Manufacturing

With the commercial aviation industry expected to double its fleet size over the next 20 years, the demand for replacement parts will remain high. The defense sector also provides a steady stream of contracts for strategic components. Emerging technologies in additive manufacturing and smart factories allow firms to develop specialized, complex parts more efficiently.