Aerospace Parts Manufacturing

Aerospace Parts Manufacturing

Global Aerospace Parts Manufacturing Market to Reach US$1.1 Trillion by 2030

The global market for Aerospace Parts Manufacturing estimated at US$714.6 Billion in the year 2023, is expected to reach US$1.1 Trillion by 2030, growing at a CAGR of 5.9% over the analysis period 2023-2030. Aerostructures, one of the segments analyzed in the report, is expected to record a 5.3% CAGR and reach US$501.9 Billion by the end of the analysis period. Growth in the Engines segment is estimated at 6.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$216.8 Billion While China is Forecast to Grow at 7.8% CAGR

The Aerospace Parts Manufacturing market in the U.S. is estimated at US$216.8 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$146.1 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 4.3% and 5.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.

Global Aerospace Parts Manufacturing Market - Key Trends & Drivers Summarized

Aerospace parts manufacturing is a critical segment of the aerospace industry, encompassing the production of components and systems used in commercial aircrafts, business aircrafts, military aircrafts, and in space applications. This includes the manufacturing of engines, airframes, avionics, aerostructures, landing gear, and other essential parts. The industry relies on advanced manufacturing processes and technologies to produce high-precision and high-quality components that meet stringent safety and performance standards. Aerospace parts manufacturers play a vital role in supporting the production and maintenance of aircraft and spacecraft, ensuring their reliability and efficiency throughout their operational lifespan.

The aerospace parts manufacturing industry is characterized by continuous innovation and the adoption of advanced technologies. Additive manufacturing (3D printing) is revolutionizing the production of aerospace parts by enabling the creation of complex and lightweight components with reduced lead times and material waste. Automation and robotics are being increasingly integrated into manufacturing processes to enhance precision, efficiency, and consistency. The use of advanced materials, such as composites and high-strength alloys, is also prevalent in the industry to improve the performance and durability of aerospace components. Additionally, digital technologies, including computer-aided design (CAD) and computer-aided manufacturing (CAM), are essential tools in the design and production of aerospace parts.

The growth in the aerospace parts manufacturing market is driven by several factors. Firstly, the increasing production rates of commercial aircraft, driven by the growing demand for air travel, are a major driver. Secondly, advancements in manufacturing technologies, such as additive manufacturing and automation, are enhancing production capabilities and efficiency. Thirdly, the rising demand for lightweight and high-performance materials is leading to the adoption of advanced materials in aerospace parts manufacturing. Additionally, the expansion of the defense sector and the development of new military aircraft and systems are boosting the demand for aerospace components. Furthermore, the increasing investments in space exploration and satellite deployment are contributing to the growth of the aerospace parts manufacturing market. Lastly, the focus on maintenance, repair, and overhaul (MRO) services to ensure the longevity and reliability of aircraft is further driving the demand for high-quality aerospace parts.

Select Competitors (Total 91 Featured) -

• 3M Company
• Aerosonic Corporation
• Aircraft Spruce and Specialty Company
• ACRO Aircraft Seating Ltd.
• AeroControlex Group
• Aerosila
• Adient Aerospace LLC
• Aeroaid Ltd.
• ABC International
• Aircraft Cabin Modification GmbH
• Aequs Pvt. Ltd.
• Aircraft Lighting International
• Adams Rite Aerospace, Inc.
• Advent Aircraft Systems, Inc.
• Airbus Sas

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