NORTH AMERICA AIRCRAFT PARTS MARKET ANALYSIS

North America aircraft parts Market, by Parts (Engines, Cabin Interiors, Fuselage, Empennage, Landing Gear, Wings and Flaps and Propeller), by Material Type (Carbon Fibers, Composite Material, Steel Alloy, Aluminum Alloy and Titanium Alloy), by Aircraft Type (Narrow Body aircraft, Wide-Body aircraft and Turboprop aircraft), by Application (Commercial Aircraft, Business Aircraft and Military Aircraft), and by Country (U.S. and Canada) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Mar 2022
Code : CMI4979
Pages :170
Formats :
Excel and PDF
Industry : Aerospace and Defense

Market Challenges And Opportunities

Companies offering aircraft parts are experiencing disruption in production due to lack of availability of workers. COVID-19 pandemic have acted as a restraint to the growth of the aircraft parts market in 2020 as supply chains were disrupted due to unavailability of workers at manufacturing facility. Also companies were unable to move the cargoes due to trade restrictions. Canada aircraft manufacturers depend heavily on supply of parts and components from the U.S. However, it is expected that the aircraft parts market will recover from the crisis over the forecast period. Several companies witnessed decreased sales of aircraft parts as the supply chain was disrupted by lockdown orders and domestic and international travels were also banned. For instance, in the period 2019 to 2020, revenue of General Dynamics and Lockhead Martin decreased by about 4.1% and 8.6%, respectively.

Restraints & Challenges: