Aerospace Parts Manufacturing Market Introduction and Overview
According to SPER Market Research, the Global Aerospace Parts Manufacturing Market is estimated to reach USD 1315 billion by 2033 with a CAGR of 5.21%.
The report includes an in-depth analysis of the Global Aerospace Parts Manufacturing Market, including market size and trends, product mix, Applications, and supplier analysis. Aerospace parts manufacturing refers to the process of designing, manufacturing, and assembling the components used in the construction of aerospace vehicles such as airplanes, helicopters, spacecraft, and missiles. This includes the production of engines, wings, fuselages, landing gear, and other critical components. To ensure high quality, reliability, and safety, aerospace parts are manufactured using specialized materials, precision machinery, and advanced technologies. Design, engineering, prototyping, testing, and production are all stages of the manufacturing process. The industry is heavily regulated to ensure that strict safety and quality standards set by national and international organizations are met.
- 2021: The first Manufacturing Blockchain® and Supply Chain Blockchain® solution for parts suppliers and buyers, SyncFab, has partnered with Kencoa Aerospace Corporation, a global manufacturing and materials company that specializes in aerospace and defense, to bring digital transformation convenience and efficiencies to shared industry-leading clients in the space, aerospace, and defense industries.
- 2020: After completing its acquisition of Ametek, Inc., a Pennsylvania-based company, Kymera International announced that it had acquired all of Reading Alloys's assets, including the development and manufacturing of titanium powder, thermal barrier coatings, and master alloys used in the aircraft industry. This expansion of the company's operations and product line was achieved.
Market Opportunities and Challenges
Opportunities: Growing cooperation amongst top rivals- Major players in the aviation industry were encouraged by the manufacturing sector to collaborate more in order to advance aviation products. Kenco Aerospace Corporation, for example, has partnered with SyncFab. As a result of this partnership, customers in the aircraft, aviation, and military sectors can now benefit from increased digitalization efficiency and convenience thanks to the first Supply Chain Blockchain and manufacturing Blockchain platform between component manufacturers and purchasers.
Challenges: Numerous difficulties faced by businesses that manufacture aerospace parts- Companies that manufacture aerospace parts must overcome many obstacles if they want to see steady increases in market revenue. The market's development is still hampered by the financial losses incurred by businesses and the significant capital expenditures that are currently required in the wake of the Lockdown period, which will make these expenditures difficult. Furthermore, aerospace manufacturing, on the other hand, necessitates a highly skilled workforce with expertise in engineering, machining, assembly, and quality control. The cost of skilled labour is frequently a premium, which adds to workers' costs. The level of customization complicates manufacturing processes and raises costs, which may impede the growth of the global market under consideration during the forecast period.
Market Competitive Landscape
To increase their market presence, businesses are using a range of tactics, including partnerships, mergers and acquisitions, product and service launches, and geographic expansion. The major players in the market include: Boeing Company, Dassault Aviation, GENERAL ELECTRIC, Honeywell International Inc., Lockheed Martin Corporation Lufthansa Technik, PARKER HANNIFIN CORP, Rolls-Royce plc, Safran S.A. and Thales Group.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By End User
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Boeing Company, Dassault Aviation, GENERAL ELECTRIC, Honeywell International Inc., Lockheed Martin Corporation Lufthansa Technik, PARKER HANNIFIN CORP, Rolls-Royce plc, Safran S.A. and Thales Group. |
COVID-19 Impact on Global Aerospace Parts Manufacturing Market
Without a doubt, the COVID-19 pandemic affected every industry, and the aerospace industry is not that different from the rest. The travel restrictions put in place globally presented a new challenge for the aviation industry last year. The preventive measures compelled people to remain indoors. Due to all commercial and passenger flights being in standby mode, there was no way to generate revenue, which resulted in massive losses for the aviation sector. Because the aircraft was stationed at a location with no passengers, the entire aerospace parts manufacturing market unexpectedly came to a halt with no production demand.
Key Target Audience
- Aerospace Original Equipment Manufacturers (OEMs)
- Airlines and Commercial Operators
- Defense Organization
- Global Suppliers and Exporters
- Investors and Financial Institutions
- Maintenance, Repair, and Overhaul (MRO) Providers
- Technology Providers
- Tier 1, Tier 2, and Tier 3 Suppliers
- Others
Our in-depth analysis of the Aerospace Parts Manufacturing Market includes the following segments:
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By Product type:
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Aerostructure
Avionics
Cabin Interiors
Engines
Equipment
Insulation Components
System
Support
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By End User:
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Business Aircraft
Commercial Aircraft
Military Aircraft
Others
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By Region:
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Asia-Pacific
Europe
Middle East & Africa
North America
Latin America
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Key Topics Covered in the Report
- Global Aerospace Parts Manufacturing Market Size (FY’2023-FY’2033)
- Overview of Global Aerospace Parts Manufacturing Market
- Segmentation of Global Aerospace Parts Manufacturing Market By Product type (Aerostructure, Avionics, Cabin Interiors, Engines, Equipment, Insulation Components, Systems and Support)
- Segmentation of Global Aerospace Parts Manufacturing Market By End User (Business Aircraft, Commercial Aircraft, Military Aircraft and Others.)
- Statistical Snap of Global Aerospace Parts Manufacturing Market
- Expansion Analysis of Global Aerospace Parts Manufacturing Market
- Problems and Obstacles in Global Aerospace Parts Manufacturing Market
- Competitive Landscape in the Global Aerospace Parts Manufacturing Market
- Impact of COVID-19 and Demonetization on Global Aerospace Parts Manufacturing Market
- Details on Current Investment in Global Aerospace Parts Manufacturing Market
- Competitive Analysis of Global Aerospace Parts Manufacturing Market
- Prominent Players in the Global Aerospace Parts Manufacturing Market
- SWOT Analysis of Global Aerospace Parts Manufacturing Market
- Global Aerospace Parts Manufacturing Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Aerospace Parts Manufacturing Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Aerospace Parts Manufacturing Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Aerospace Parts Manufacturing Market
7. Global Aerospace Parts Manufacturing Market, By Product type (USD Million)
7.1. Global Aerospace Parts Manufacturing Market Value Share and Forecast, By Product type, 2023-2033
7.2. Aerostructure
7.3. Avionics
7.4. Cabin Interiors
7.5. Engines
7.6. Equipment
7.7. Insulation Components
7.8. System
7.9. Support
8. Global Aerospace Parts Manufacturing Market, By End User (USD Million)
8.1. Global Aerospace Parts Manufacturing Market Value Share and Forecast, By End User, 2023-2033
8.2. Business Aircraft
8.3. Commercial Aircraft
8.4. Military Aircraft
8.5. Others
9. Global Aerospace Parts Manufacturing Market Forecast, 2019-2033 (USD Million)
9.1. Global Aerospace Parts Manufacturing Market Size and Market Share
10. Global Aerospace Parts Manufacturing Market, By Product type, 2019-2033 (USD Million)
10.1. Global Aerospace Parts Manufacturing Market Size and Market Share By Product type (2019-2026)
10.2. Global Aerospace Parts Manufacturing Market Size and Market Share By Product type (2027-2033)
11. Global Aerospace Parts Manufacturing Market, By End User, 2019-2033 (USD Million)
11.1. Global Aerospace Parts Manufacturing Market Size and Market Share By End User (2019-2026)
11.2. Global Aerospace Parts Manufacturing Market Size and Market Share By End User (2027-2033)
12. Global Aerospace Parts Manufacturing Market, By Region, 2019-2033 (USD Million)
12.1. Global Aerospace Parts Manufacturing Market Size and Market Share By Region (2019-2026)
12.2. Global Aerospace Parts Manufacturing Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. Boeing Company
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Dassault Aviation
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. GENERAL ELECTRIC
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Honeywell International Inc.
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Lockheed Martin Corporation
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Lufthansa Technik
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. PARKER HANNIFIN CORP
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Rolls-Royce plc
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Safran S.A.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Thales Group
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope