New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The aerospace parts manufacturing industry is growing at an impeccable rate with the rise in the passenger count who are travelling by flight. Apart from this, commercial and freight aircraft also have seen immense growth in the post-pandemic era.
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Growing Emerging Economies with Increase in Per-Capita Income Driving Demand for New-Age Aircraft
With emerging economies like India, China, and European countries, frequent flyers have increased. It may be for business or a personal purpose, but the fact is that the passenger count has increased. Along with this, the per-capita income in such countries has risen to the highest level considering their past income, so people are now traveling by flights more than any other travel means, even for domestic travel purposes.
Due to this, there has been a sudden load on the aviation industry to manage such a huge crowd and offer them the best in class services. To cater to these needs, the aviation industry is continuously developing new designs and large-sized aircraft, which opens a wide window of opportunities for the aerospace parts manufacturing market. This is why many manufacturers, OEMs, Tier-1&2 companies are stepping into the aerospace parts manufacturing market to gain maximum profits and have a significant revenue generation through this.
Report Scope
| Report Metric | Details |
| Market Size | USD 1130 Billion by 2030 |
| CAGR | 5% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion ) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product and Type |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Jamco Corporation ,Intrex Aerospace ,Rolls Royce Plc ,CAMAR Aircraft Parts Company ,Safran Group ,Woodward Inc |
| Key Market Opportunities | Growth in the Emerging Economies with Increase in Per-Capita Income Offering Growth Opportunities for Market Growth |
| Key Market Drivers | Increase in the Rate of Aircraft Fleet Replacement Driving Market Growth Increase in the Rate of Aircraft Fleet Replacement |
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Impact of Covid-19 on the Global Aerospace Parts Manufacturing Market
There is no doubt that the Covid-19 pandemic had a drastic effect on every industrial segment out there, and the aerospace industry is not so different from it. The aviation industry has faced a different challenge in its history which was the travel restrictions imposed all over the world. With the preventive measures, people were forced to stay in and not allowed to travel outside their homes. This led the aviation industry to grasp huge losses as there was no revenue generation option as all the passengers and commercial flights were on the standby mode.
The entire aerospace parts manufacturing market came to a sudden halt with no production demand as the aircraft was stationed at a place and no passengers at all. International flights were completely banned to prevent the spread of the disease, which led the global aviation industry to fall back to the lowest figures in its history. The entire revenue generation model of the aviation industry was stopped and made to carry huge debts for the majority of the airlines operating around the worldand made to carry huge debts for the majority of the airlines operating around the world.
Key Highlights
- The global aerospace parts manufacturing market was valued at USD 754 billion in 2021 and is expected to grow at USD 1130 billion by 2030 at a CAGR of 5%.
- The global aerospace parts manufacturing market is driving the aviation industry’s growth with an estimated growth of about 5% over the forecast period.
- By type, the aircraft manufacturing segment dominates the market with an estimated revenue generation of USD 602 billion by 2030 with a CAGR of 4%.
- North America proves to be the high-performing region in terms of revenue generation for the aerospace parts manufacturing market with an estimated figure of USD 522 billion by 2030 at a CAGR of 3%.
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List of Key Players
- Jamco Corporation
- Intrex Aerospace
- Rolls Royce plc
- CAMAR Aircraft parts company
- Safran group
- Woodward Inc
Global Aerospace Parts Manufacturing Market Segmentation
By Product
- Engines
- Aircraft Manufacturing
- Insulation Components Manufacturing
By Type
- Commercial Aircraft
- Business Aircraft
- Military Aircraft
By Region
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
TABLE OF CONTENT
1 Introduction
1.1 Aerospace Parts Manufacturing Market Definition
1.2 Aerospace Parts Manufacturing Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Aerospace Parts Manufacturing Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Product Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Engines
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Aircraft Manufacturing
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Insulation Components Manufacturing
5.4.1 Market Size & Forecast (Value & Volume)
6 Type Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Commercial Aircraft
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Business Aircraft
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Military Aircraft
6.4.1 Market Size & Forecast (Value & Volume)
7 Regional Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 North America
7.2.1 Economic Overview
7.2.2 Market Scenario
7.2.3 U.S.
7.2.4 Canada
7.2.5 Mexico
7.3 Central and South America and the Caribbean
7.3.1 Economic Overview
7.3.2 Market Scenario
7.3.3 Brazil
7.3.4 Argentina
7.3.5 Colombia
7.3.6 Rest of Central and South America and the Caribbean
7.4 Europe
7.4.1 Economic Overview
7.4.2 Market Scenario
7.4.3 Germany
7.4.4 France
7.4.5 The U.K.
7.4.6 Italy
7.4.7 The Rest Of Europe
7.5 Asia-Pacific (APAC)
7.5.1 Economic Overview
7.5.2 Market Scenario
7.5.3 China
7.5.4 Japan
7.5.5 India
7.5.6 Australia
7.5.7 South Korea
7.5.8 Rest Of APAC
7.6 Middle East
7.6.1 Economic Overview
7.6.2 Market Scenario
7.6.3 South Arabia
7.6.4 The UAE
7.6.5 Qatar
7.6.6 Oman
7.6.7 Turkey
7.6.8 The Rest Of Middle East
7.7 Africa
7.7.1 Economic Overview
7.7.2 Market Scenario
7.7.3 Nigeria
7.7.4 South Africa
7.7.5 The Rest Of Africa
8 Competitive Landscape — Manufacturers & Suppliers
8.1 Competition Dashboard
8.2 Industry Structure
8.3 Jamco Corporation
8.3.1 Business Overview
8.3.2 Financial Performance
8.3.3 Recent Developments
8.3.4 Portfolio
8.4 Intrex Aerospace
8.5 Rolls Royce Plc
8.6 CAMAR Aircraft Parts Company
8.7 Safran Group
8.8 Woodward Inc
9 Conclusion & Recommendation
10 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/aerospace-parts-manufacturing-market/toc
Market News
- In April 2021, the Jamco corporation with collaboration with ANA installed worlds first hands free lavatory doors in the aircraft, which was named as project Blue Sky Vol.5.
- In December 2021, Intrex Aerospace partenered with Eaton and UTC Aerospace, developing new business strategy to withhold the aerospace parts market.
- April 2022 saw the biggest collaboration of the global industry, with Infosys and Rolls Royce collaborating to launch Aerospace engineering and digital innovation center in India.
News Media
3D Printing to Boost Plastic Consumption in Aircraft Manufacturing
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