Mar 03, 2020: The global Aerospace Parts Manufacturing market size is expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing passenger and freight traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to boost the market growth.
A majority of the aircraft manufacturing companies are integrated across the value chain and are highly active in the parts manufacturing process. These companies have in-house production facilities as well as supplier contracts for the procurement of these parts. The manufacturers are also involved in raw material procurement and designing and quality control of the parts offered by third party suppliers.
Avionics manufacturing is expected to grow in line with aircraft manufacturing, as they are designed to increase the safety and utility of an aircraft. Actuators account for a major share of avionics manufacturing, as they are used in all the systems of an aircraft including oxygen, air, hydraulic, fuel, and water systems. In addition, actuators are used in flaps, landing gear, and weapon systems.
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The market for aerospace part manufacturing is primarily concentrated in North America and Europe, owing to the presence of major aircraft manufacturers. China and India are expected to emerge as the leading markets in the forthcoming years, owing to the rapid growth of aircraft part manufacturing and export activities. The global trade in components and sub-assemblies has increased by approximately 25% during the past decade. However, the sector still remains consolidated with the top 3 countries including U.S., Germany, and France, accounting for over 60% of the total aircraft manufacturing.
The market has observed a trend of a collaboration of the major companies entering into a joint venture. This helps the companies to sustain in the highly competitive market in terms of geographical expansion, technological advancements, and lowering the risk of failure. This also aids the companies to easily access the market for gaining long term contracts.
Further key findings from the report suggest:
- In 2019, aerostructure dominated the product segment, with 52.2% of revenue share on account of strong replacement rate of aluminum with high-cost composites in fuselage and airframe structures
- Commercial aircraft segment is estimated to expand at the fastest CAGR of 4.6% over the forecast period, as significant changes are being incorporated in the aircraft structure to reduce the carbon emissions by replacing existing parts with lightweight materials
- The market in Asia Pacific was valued at USD 149.6 billion in 2019 and is expected to expand at the highest CAGR owing to the rapid growth of aviation industry, augmenting the growth of MRO services thereby impacting aerospace parts manufacturing industry on a positive note
- The aerospace parts manufacturing market has stringent manufacturing norms, safety regulations, and certifications, which restricts the entry of new entrants
- Emerging players in Asia offering low-cost innovative solutions to the end-users are expected to challenge the established players in North America and Europe, leading to competition disruption in the market
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Segmentation
3.2. Value Chain Analysis
3.2.1. Supplier Outlook
3.2.1.1. Airbus A380
3.2.1.1.1. Aerostructure
3.2.1.1.2. Engine
3.2.1.1.3. Equipment Safety & Support Component
3.2.1.1.4. Avionics
3.2.1.1.5. Insulation Components
3.2.1.1.6. Cabin Interior
3.2.1.2. Airbus A350
3.2.1.2.1. Airframe Systems & Assemblies
3.2.1.2.2. Cabin Interiors
3.2.1.2.3. Equipment Safety & Support Component
3.2.1.2.4. Avionics
3.2.1.2.5. Engine
3.2.1.2.6. Components
3.2.1.3. Airbus A320
3.2.1.3.1. Airframe Systems & Assemblies
3.2.1.3.2. Cabin Interiors
3.2.1.3.3. Equipment Safety & Support Component
3.2.1.3.4. Avionics
3.2.1.3.5. Engine
3.2.1.3.6. Components
3.2.1.4. Boeing 787 Dreamliner
3.2.1.4.1. Airframe Systems & Assemblies
3.2.1.4.2. Cabin Interiors
3.2.1.4.3. Equipment Safety & Support Component
Continued………….
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With a multi-disciplinary approach, Fact.MR elaborates an extensive analysis of the historical, current and future outlook of the global Aerospace Parts Manufacturing market as well as the factors responsible for such a growth.
Our highly dedicated professionals have inputted critical and accurate insights associated with every industry, and region by doing thorough primary and secondary research.
The global Aerospace Parts Manufacturing market is poised to expand at a CAGR of over 7% during the forecast period (2019-2029).The recent report on the global Aerospace Parts Manufacturing market published by the Fact.MR includes the impact of COVID-19 on the Demand of Aerospace Parts Manufacturing market.
Severe economic crisis are being faced by each and every country of the world.
This has affected each and every market in the world and it will take a good amount of time to recover.
The Aerospace Parts Manufacturing market study includes the current market scenario on the global platform and also forecasts the market development during the forecast period.
A latest report published by Fact.MR takes into account the Aerospace Parts Manufacturing market from a global as well as local viewpoint.
The global Aerospace Parts Manufacturing market is poised to expand at a CAGR of over 7% during the forecast period.
This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Aerospace Parts Manufacturing.
The study also provides dynamics that are responsible for influencing the future status of the Aerospace Parts Manufacturing market over the forecast period.The recent report on the global Aerospace Parts Manufacturing market published by the Fact.MR includes the impact of COVID-19 on the Aerospace Parts Manufacturing market.
Severe economic crisis are being faced by each and every country of the world.
This has affected each and every market in the world and it will take a good amount of time to recover.
Global Aerospace Parts Manufacturing Market Report 2027 size is projected to value at USD 1.25 trillion by 2027, according to a new report published by Million Insights, with a CAGR of 4.1% from 2020 to 2027.
Rising freight traffic and passengers in developing countries are accelerating the demand for advanced aircraft, which is predicted to drive market growth.
Request free sample @ https://www.millioninsights.com/industry-reports/global-aerospace-parts-manufacturing-market/request-sample Market Synopsis of Aerospace Parts Manufacturing Market: Most of the aerospace manufacturing units are connected through the value chain and are active in the manufacturing process.
This industry is predominantly focused in Europe and North America due to the large-scale existence of eminent aircraft companies.
India and China are anticipated to emerge as potential markets in the upcoming years due to the widespread growth of export and aircraft part manufacturing activities.
The world trade in sub-assemblies and components has gone up by around 25% in the last ten years.
