Global Aerospace Parts Manufacturing Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Aerospace Parts Manufacturing Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Aerospace Parts Manufacturing market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global aerospace parts manufacturing market size was estimated at USD 907.2 billion in 2019 and is expected to expand at a CAGR of 4.1% from 2020 to 2027. Rising demand for lightweight, new-generation, and fuel-efficient aircraft, owing to the emphasis on reducing greenhouse emissions is predicted to boost the growth.

Replacement of in-service aging aircraft with fuel-efficient aircraft is impelled by rising energy costs, which accounts for a significant share in the operation of commercial airlines. In addition, increasing emphasis to reduce total aircraft weight by using lightweight parts attempting to improve its energy efficiency is likely to have a positive impact on market growth.

The U.S. exhibits the largest market for aircraft parts manufacturing, owing to the presence of established aircraft manufacturing base, coupled with huge potential for aerospace Maintenance, Repair, and Overhaul (MRO) activities. Also, advanced technological capabilities, coupled with airworthiness for the production of superior quality products, including critical aircraft parts, such as wings and fuselage is expected to surge the market growth.

Tier 1 suppliers, such as systems and major structure manufacturers are engaged in the manufacturing of aero engines, turbines, jets, and engine propulsion systems, experience severe pressure from Original Equipment Manufacturers (OEMs). As a result, the industry demonstrates increasing consolidation through tier 1 of the supply chain, owing to rising mergers and acquisitions to reduce the supply chain complexity.

The market has witnessed an inclination toward the incorporation of lightweight materials for aerospace parts manufacturing, on account of improvement in terms of performance and cost-efficiency of the end-use structure. The market participants are exhibiting a preference for lightweight aluminum alloys on account of its superior corrosion resistance and ability to retain strength at high temperatures.

The players operating in the aerospace parts manufacturing market face competition in terms of product quality and design. They are targeting the customers with customized requests to sustain in the market. The major players are likely to adopt emerging technologies such as additive manufacturing to replace the traditional manufacturing process of smaller aircraft components with complex structures

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Aerospace Parts Manufacturing market are included as given below:

The market has witnessed an increased competition, on account of the rapid growth of Asian manufacturers. The players compete on the basis of differentiation in technology, design, product performance, and compliance with the customer specifications. In addition, timely product delivery, market goodwill, superior customer service and support, and price also affect the competition.

The key market players often enter into long-term supply contracts with aircraft manufacturers. They also provide customized solutions to the suppliers and aircraft manufacturers. The aircraft manufacturers often monitor the component manufacturing throughout the value chain, from designing the component to its manufacturing in order to ensure its quality

The global Aerospace Parts Manufacturing market has been segmented as below:

• Product 

  • Engines

  • Aircraft Manufacturing

  • Cabin Interiors

  • Equipment, System, and Support

  • Avionics

  • Insulation Components

• End-Use 

  • Commercial Aircraft

  • Business Aircraft

  • Military Aircraft

  • Other Aircraft

• Global Aerospace Parts Manufacturing Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Aerospace Parts Manufacturing development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects