Selbyville, Delaware, Aug. 19, 2019 (GLOBE NEWSWIRE) --
The A&D c-class parts market growth will be driven by growing global commercial aircraft industry. Expected rise in product demand is mainly associated with growing middle class around the world, strong economic growth, rise in consumer spending on air travel and improving business models of airline industry, thereby propelling overall aircraft manufacturing. This has resulted into growing utilization of C-class components in aviation sector.
Aerospace & defense industry is highly regulated and these stringent regulations concerning safety of aircraft operations forces airline operators toward proper maintenance and repair and overhaul of aircrafts, which supports the market growth. In addition, increasing demand for fuel-efficient aircrafts coupled with increasing air traffic will drive aerospace & defense c-class parts market demand in coming years.
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Aerospace & defense c-class parts family is broadly categorized into fasteners, bearings, electrical components, machined parts. Fasteners segment contributed a revenue over USD 5 billion in 2018, however, bearings segment is gaining traction, due to their indispensability. Changing dynamics in the global aerospace and defense industry requires innovative designs for next generation aircrafts, such innovations will be drive bearings demand to reduce friction and support load transfer in the aircraft.
Global A&D c-class parts market is categorized on the basis of application into airframe, interiors, and system. Aircraft airframe segment held the largest share and gaining popularity owing to increasing production rates of major programs by Boeing and Airbus. Additionally, there is rise in demand for lightweight c-class parts and commercial aircraft fleet by major airliners.
On the basis of distribution channel, the aftermarket segment turns out to be largest segment in 2018 holding around 70% aerospace & defense c-class parts market share. This is due to large numbers of MRO’s in the market and their ability to serve customers according to their needs and wants.
Browse key industry insights spread across 246 pages with 245 market data tables & 33 figures & charts from the report, “Aerospace & Defense C-Class Parts Market Size By Component (Fasteners, Bearings, Electrical, Machined), Application (Airframe, System, Engine, Interiors), Distribution Channel (OEM, Aftermarket), End User (Commercial, Military & Defense, Spaceships), Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/aerospace-defense-c-class-parts-market
Based on end-user, the aerospace & defense c-class parts market is segmented into military & defense, commercial, spacecrafts and spaceships. Commercial segment was the largest segment in 2018 owing to increasing air passengers, decreasing air fares due to cutthroat competitions among airlines and flourishing tourism & travel industry. Commercial segment had market share by revenue more than 55% in 2018 and shall reach up to USD 8 billion by 2025. Another rapidly growing segment is military & defense with CAGR of 5% over forecast period.
North America region will dominate the global A&D c-class parts market throughout the forecast period, accounting for over 45% overall share in 2018. Asia Pacific will witness significant growth rate in the market.
A&D c-class parts market is highly consolidated by the presence large players. Some key players in the market are Precision Castparts Corporation, Safran SA, NTN Corporation, Arconics Inc, RCB Bearings Incorporated, SKF Bearings, Amphenol Corporation and others.
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