The global Aerospace Parts Manufacturing Market 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.
Most of the aerospace manufacturing units are connected through the value chain and are active in the manufacturing process. The companies have supplier contracts for the supply of these parts along with in-house production services. The companies are further engaged in the procurement of raw material and quality control and designing of the parts provided by other suppliers.
To download the sample PDF of “Aerospace Parts Manufacturing Market Report” please click here: https://www.millioninsights.com/industry-reports/global-aerospace-parts-manufacturing-market/request-sample
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. However, the industry is still concentrated with the top 3 economies such as U.S., France, and Germany with a share of above 60% of the overall aircraft manufacturing.
The aerospace parts manufacturing market has witnessed a rising trend of integration of eminent players engaging in joint ventures. The strategy is expected to provide sustainability to companies and combat higher competition based on technological advancements, reduced failure-risk, and geographical expansion. It further supports the company’s easy market access for acquiring long-term contracts.
To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/global-aerospace-parts-manufacturing-market
Further key findings from the report suggest:
• Aerostructure held the largest market with a share of 52.2% based on global revenue due to higher rates of replacement of aluminum with airframe structures and composites.
• The commercial aircraft is expected to register a CAGR of 4.6% from 2020 to 2027 due to changes mandated in the aircraft structure to lower the carbon effluents through its replacement with lightweight materials.
• Asia Pacific was worth USD 149.6 billion in 2019. The region is predicted to account for the highest CAGR due to the booming aviation industry in the region, accelerating the demand for MRO services, thus, creating a positive impact on the aerospace parts manufacturing industry.
• The aerospace parts manufacturing market has firm manufacturing criteria, certification, and safety regulations that control the entry of new players.
• The growing manufacturers in Asia providing low-cost advanced solutions to the users are anticipated to give a tough competition to the eminent players in Europe and North America resulting in competition disruption in the industry.
Million Insights has segmented the global aerospace parts manufacturing market on the basis of product, end use, and region:
Aerospace Parts Manufacturing Product Outlook (Revenue, USD Billion, 2016 – 2027)
• Engines
• Aircraft Manufacturing
• Cabin Interiors
• Equipment, System, and Support
• Avionics
• Insulation Components
Aerospace Parts Manufacturing End Use Outlook (Revenue, USD Billion, 2016 – 2027)
• Commercial Aircraft
• Business Aircraft
• Military Aircraft
• Others
Aerospace Parts Manufacturing Regional Outlook (Revenue, USD Billion, 2016 – 2027)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• Netherlands
• Asia Pacific
• Indonesia
• Malaysia
• Philippines
• China
• Japan
• Australia
• Central & South America
• Brazil
• Middle East & Africa
Explore the Latest Market Research Reports by Million Insights:
• Anti-Fatigue Mats Market: The global anti-fatigue mats market size was worth USD 1.5 billion in the year 2018. The rise in lower limb and foot problems among people who work by standing for long hours is attributing to the growth of anti-fatigue mats.
• Fixed-wing Air Ambulance Service Market: The global fixed-wing air ambulance service market size was accounted revenue at USD 977.6 million in 2017 and expected to grow with a CAGR of 9.4% over the projected period, from 2018 to 2025. The fixed-wing air ambulances are widely used helicopter or aero plane to move patients to and from healthcare facilities this market is gaining popularity in developing countries such as India and China.
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/industry-reports/global-aerospace-parts-manufacturing-market