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

The aerospace parts manufacturing market is estimated to be valued at USD 918.7 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

The aerospace parts manufacturing market involves the production of aircraft parts and components used in manufacturing commercial, military, business, and general aviation aircraft. It comprises companies primarily engaged in manufacturing aircraft structural parts like fuselage, wings, tail, and supporting systems. Rapid globalization, rising passenger traffic, growing military spending of countries, and utilization of newer aircraft materials are some of the key factors fueling the market growth. Advanced manufacturing technologies like 3D printing and robotics are assisting aerospace parts manufacturers in producing lightweight parts with better efficiency. With air travel becoming more accessible, the aerospace parts manufacturing industry is poised to witness steady growth over the coming years.

Market Dynamics:

The aerospace parts manufacturing market is driven by increasing commercial aircraft procurements and military upgrades globally. Rising passenger traffic has encouraged major aircraft OEMs like Boeing and Airbus to ramp up production rates. Geopolitical tensions are also propelling defense modernization programs worldwide. Furthermore, the adoption of fuel-efficient aircraft with more composite materials provides opportunities for manufacturers of next-generation aerospace parts. However, the market growth can be restrained by the high costs associated with aircraft manufacturing and risks of supply chain disruptions. Stringent aviation safety regulations also remain a challenge for parts makers. Ongoing investments in digital transformation using IoT, 3D printing, and robotics are helping players overcome these obstacles.

Key Features of the Study:

• This report provides an in-depth analysis of the global aerospace parts manufacturing market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2024 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global aerospace parts manufacturing market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Airbus Group, Alcoa Corporation, Arconic Corporation, Boeing, Bombardier Inc., Collins Aerospace, Elbit Systems Ltd, Teijin, Lockheed Martin Corporation, Triumph Group, Inc, Safran , JAMCO Corporation, Rolls-Royce plc , Intrex Aerospace, CAMAR Aircraft Parts Co. , GENERAL ELECTRIC, Honeywell International Inc., Superior Air Parts., Thales, and PARKER HANNIFIN.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global aerospace parts manufacturing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aerospace parts manufacturing market.

Market Segmentation:

• By Product 
  • Engines
  • Cabin Interiors
  • Aerostructure
  • Avionics
  • Insulation Components
  • Others
• By Aircraft Type
  • Narrow Body aircraft
  • Wide-body aircraft
  • Turboprop aircraft
• By Application
  • Commercial Aircraft
  • Business Aircraft
  • Military Aircraft
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Key Players
  • Airbus Group
  • Alcoa Corporation
  • Arconic Corporation
  • Boeing
  • Bombardier Inc.
  • Collins Aerospace
  • Elbit Systems Ltd
  • Teijin
  • Lockheed Martin Corporation
  • Triumph Group, Inc
  • Safran
  • JAMCO Corporation
  • Rolls-Royce plc
  • Intrex Aerospace
  • CAMAR Aircraft Parts Co.
  • GENERAL ELECTRIC
  • Honeywell International Inc.
  • Superior Air Parts.
  • Thales
  • PARKER HANNIFIN