Global Aerospace Parts Manufacturing Market Size is Projected to Hit USD 1,200 Billion by 2030- Says Markntel Advisors
With the growing number of new planes, the demand for various parts increases, therefore, the demand for aerospace parts manufacturing market increases rapidly. Likewise, with the ever-increasing air travel, the demand for plane parts has increased overtime, hence, this ongoing trend is expected to continue in the coming years as well.
Key Takeaways:
· Historical Years: 2020-23
· Base Years: 2024
· Forecast Years: 2025-30
· Market Value in 2024: USD 936 Billion
· Market Value in 2030: USD 1,200 Billion
· CAGR (2025-30): 4%
· Leading Region: North America
· Market Growth: Increasing Air Travel
· Market Challenge: Fluctuating Raw Material Prices
· By Product: The engine segment holds the largest share of around 38%, this is because, the engine is the most expensive part of an aircraft.
· By End User: Commercial aircraft holds the largest market share of around 51%, driven by increasing number of flight travelers worldwide.
Global Aerospace Parts Manufacturing Market Overview
According to the latest report published by Markntel Advisors, the Global Aerospace Parts Manufacturing Market size was valued at around USD 936 billion in 2024 and is projected to reach USD 1,200 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4% during the forecast period, i.e., 2025-30.
Major Players in Global Aerospace Parts Manufacturing Market
· Boeing,
· Airbus,
· Derco,
· RTX,
· Northrop Grumman,
· General Electric Aerospace,
· Honeywell,
· Rolls Royce Plc,
· Safran,
· Thales Group,
· Collins Aerospace,
· L3Harris Technologies,
· MTU Aero Engines,
· Intrex Aerospace,
· BAE Systems, and others
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Segmentation Analysis Based on Product, and End User
By Product:
· Engine,
· Aero structure,
· Cabin Interiors,
· Avionics,
· Insulation Components,
· Other Ancillary Equipment
By End User:
· Commercial Aircraft,
· Business Aircraft,
· Military Aircraft,
· Space Rocket
Regional Market Outlook: Key Insights
· North America Aerospace Parts Manufacturing Market lead the industry with the substantial shares, owing to the rising demand for aircraft parts from the companies present in the region.
· Europe Aerospace Parts Manufacturing Market is gaining traction due to growing emphasize on sustainable aerospace production, adhering to stringent environmental regulations
· Asia-Pacific Aerospace Parts Manufacturing Market is fastest-growing market, fueled by increasing air passenger traffic, and growing government initiatives
· Middle East & Africa Aerospace Parts Manufacturing Market is witnessing steady growth owing to the rising investments in aviation infrastructure and defense expansion
· South America Aerospace Parts Manufacturing Market comprises countries like Brazil and Mexico, which are emerging as key players in aerospace component production.
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Key Challenges and Industry Opportunities
Challenges:
· Supply Chain Disruptions
· Regulatory Compliance
· Skilled Workforce Shortage
Opportunities:
· Integration of Smart Manufacturing
· Increased Investment in R&D
· Rise of Sustainable Aviation
Global Aerospace Parts Manufacturing Market Future Trends
· Expansion of Electric and Hybrid Aircraft Components to reduce carbon emissions.
· Adoption of Digital Twin Technology for predictive maintenance and enhanced efficiency.
· Surge in Demand for UAV (Unmanned Aerial Vehicles) in commercial and defense applications.
Future Outlook
With the growing trends the industry is projected to grow and expand during the forecasting years i.e., 2025-30 as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the Global level
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging Video Analytics geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 14.8 diverse industrial verticals.
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