The global aerospace parts manufacturing market size is expected to reach USD 1,211.27 Billion by 2030 according to a new study by Polaris Market Research. The report “Aerospace Parts Manufacturing Market Share, Size, Trends, Industry Analysis Report, By Product (Aerostructure, Cabin Interiors, Engines, Equipment, System, and Support, Avionics, Insulation Components), By End-Use (Business Aircraft, Commercial Aircraft, Military Aircraft, Others) By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand for technologically advanced, lightweight parts, coupled with increasing demand for maintenance and replacement for airplane equipment, is expected to increase the manufacturing industry demand over the forecast period. Furthermore, the rise in air traffic due to the increasing disposable income of consumers has increased the demand for commercial aircraft over the recent years.
Aircraft manufacturers are investing in new product development in order to manufacture lightweight and increased capacity aircraft. This, in turn, will increase the demand for airplane equipment and will boost the aerospace parts manufacturing industry during the projected period.
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The commercial segment is expected to dominate the industry over the projected period as these aircraft promote economic development, create jobs, and allow worldwide commerce and tourism.
North America is expected to hold the major share of the market over the projected period due to increasing demand for innovative and advanced technology aircraft. In contrast, Asia Pacific is expected to grow at a considerable pace due to rapid development in emerging economies.
Some of the major players operating in the aerospace equipment manufacturing global market include CAMAR Aircraft Parts Company, Aequs, Composite Technology Research Malaysia Sdn. Bhd. (CTRM), Ducommun, Inc., Rolls Royce plc, MTU Aero Engines AG, Textron, Inc., Eaton Corporation plc, Engineered Propulsion System, Elektro-Metall Export GmbH, Superior Aviation Beijing, Raytheon Technologies Corp., GE Aviation, IHI Corp., Intrex Aerospace, Honeywell International, Inc., JAMCO Corp., Safran Group, Liebherr International AG, Kawasaki Heavy Industries Ltd., Lufthansa Technik AG, Mitsubishi Heavy Industries, Ltd., Spirit AeroSystems, Inc., Subaru Corp., and Woodward Hexcel.
Polaris Market Research has segmented the aerospace parts manufacturing market report on the basis of product, end-use, and region:
Aerospace Parts Manufacturing, Product Outlook (Revenue – USD Billion, 2018 - 2030)
Aerospace Parts Manufacturing, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Aerospace Parts Manufacturing, Regional Outlook (Revenue - USD Billion, 2018 - 2030)