MarkNtel Advisors recently published a detailed industry analysis of the Global Aerospace Parts Manufacturing Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Aerospace Parts Manufacturing Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The 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.
Key Findings in Global Aerospace Parts Manufacturing Market:
- Historical Analysis: 2020–2023
- Base Year: 2024
- Forecast Period: 2025–2030
Leading Market Players- 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
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Aerospace Parts Manufacturing industry?
Increasing Air Travel – The number of people traveling by plane is continuously growing, mainly in emerging countries such as India, China, Brazil, etc. For instance, the number of passengers traveling in a single day through flights in India has crossed half a million number for the first time in November 2024, and that too in the non-festive season. To meet the increasing demand for air travel and stay competitive, the airline industry has to increase the number of commercial aircraft in their service. As a result, it creates a high demand for various parts that are used in the manufacturing of aircraft such as engines, communication & navigation devices, etc. For instance;
- SpiceJet will add 10 new commercial planes to its service by the end of 2024.
Moreover, increasing air travel correlates to the high flying time of planes, as a result, the need for regular aircraft checkups and repairs also increases which further increases the demand for aircraft parts. Therefore, due to the increasing air travel, the demand for plane parts has increased over time, and this trend is expected to continue in the coming years as well.
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What segments define the Global Aerospace Parts Manufacturing Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
By Product
- Engine- Market Size & Forecast 2020-2030, USD Million
- Aero structure- Market Size & Forecast 2020-2030, USD Million
- Cabin Interiors- Market Size & Forecast 2020-2030, USD Million
- Avionics- Market Size & Forecast 2020-2030, USD Million
- Insulation Components- Market Size & Forecast 2020-2030, USD Million
- Other Ancillary Equipment – Market Size & Forecast 2020-2030, USD Million
According to report, Based on the product, the engine segment holds the largest share of aerospace parts around 38%.
By End User
- Commercial Aircraft- Market Size & Forecast 2020-2030, USD Million
- Business Aircraft- Market Size & Forecast 2020-2030, USD Million
- Military Aircraft- Market Size & Forecast 2020-2030, USD Million
- Space Rocket- Market Size & Forecast 2020-2030, USD Million
- Others (Training Aircrafts, Satellite, etc.)- Market Size & Forecast 2020-2030, USD Million
According to report, Based on end user, commercial aircraft holds the largest market share around 51%.
Explore the Complete Global Aerospace Parts Manufacturing Market Analysis Report – https://www.marknteladvisors.com/research-library/aerospace-parts-manufacturing-market.html
Geographical Analysis: Global Aerospace Parts Manufacturing Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Aerospace Parts Manufacturing Market Recent Development:
2024: Lockheed Martin parent company of Derco expanded their production facility in Texas. This expansion aimed to increase the production of various reliable parts using 3D printing or additive manufacturing.
2024: Honeywell announced an investment of around USD 84 million for the expansion of its Kansas Aerospace Manufacturing Facility. This expansion aimed to develop its supply chain by increasing the production of next-generation avionics and printed circuit board assemblies.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Aerospace Parts Manufacturing Market?
- How is the Aerospace Parts Manufacturing Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, 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 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 15 diverse industrial verticals.
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