new york, October 3, 2023 /PRNewswire/ — Aerospace parts manufacturing market is expected to grow by $185 billion However, the market growth momentum continues rapidly. CAGR 3.81% During the forecast period. The market is divided into aircraft types (civil, business, military), products (aircraft manufacturing, engines, avionics, etc.), and geography (North America, Europe,Asia Pacific, middle east and Africaand south america). Space exploration and satellite industry are key factors driving market growth. Growth in the space sector, including satellite manufacturing, launch services, and exploration missions, has increased the demand for aerospace components used in spacecraft, satellites, or related technologies. Additionally, increased interest in space exploration, satellite deployment, and related activities has led to a surge in demand for all types of aircraft parts. The growth of the space industry, driven by government agencies, private companies, and international partnerships, presents a wide range of opportunities for aviation component manufacturers. Therefore, these factors are expected to drive the market growth during the forecast period. The report analyzes the market size and growth and provides accurate forecasts regarding the market growth. View free PDF sample
Main highlights:
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The report lists AEFP Group, Aequs Pvt Ltd., Camar Aircraft Parts Co., and CTRM Sdn. as key players in the aerospace parts manufacturing market. Bhd., DAHER, Diehl Stiftung and Co. KG, Ducommun Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., IHI Aerospace Co., Ltd., JAMCO Corporation, Kawasaki Heavy Industries, Ltd., Liebherr International Deutschland GmbH , Mitsubishi Heavy Industries, Ltd., Rolls Royce Holdings Plc, Safran SA, Thales Group, TransDigm Group Inc., and Dassault Aviation SA
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The aerospace parts manufacturing market is fragmented in nature.
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The market is expected to grow by 3.57% in 2023 compared to the previous year.
Market dynamics:
key trends
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The growth of the MRO industry is a major trend in the market.
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The MRO industry requires a continuous supply of replacement parts for aircraft maintenance.
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High MRO market North America It contributes to the demand for aviation industry components such as wings, engines, and cockpits.
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As a result of the increased demand for air travel, the increased number of flights results in increased aircraft usage and more frequent maintenance needs.
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Therefore, these factors are expected to drive the market growth during the forecast period.
serious issues
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The high cost associated with manufacturing aerospace components is a major challenge limiting the market growth.
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To ensure aircraft reliability and airworthiness, aerospace component manufacturers must adhere to strict quality and safety standards.
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In addition, such standards require the use of new materials, precision techniques, and extensive testing, all of which increase costs.
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Manufacturing aviation components often involves advanced technology and engineering solutions.
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However, it requires highly qualified staff with expertise in aircraft engineering, machining, assembly, and quality control. Skilled labor is often more expensive, resulting in higher labor costs.
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Therefore, these factors are expected to restrict the market growth during the forecast period.
The report also includes information on upcoming trends and challenges. For more information, go to Purchase the report
Barrel segment:
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of commercial segment It will account for the major share of the market growth during the forecast period. Aerospace components are diverse and include a variety of components essential to the operation, safety, and comfort of commercial aircraft passengers and crew. Such parts can be classified according to their systems and components, each of which has a unique role in the aircraft’s functionality. Additionally, airlines often expand their fleets by purchasing new aircraft or replacing aging and less fuel-efficient models to meet increasing passenger demand. As a result, demand for the parts needed to manufacture and maintain these new aircraft increased. Therefore, these factors are expected to drive the growth of the segment during the forecast period.
You can check the market contribution of each segment at a glance. Request a free sample
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Market scope for aerospace parts manufacturing |
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Report scope |
detail |
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base year |
2022 |
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historical era |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum and CAGR |
Accelerating at a CAGR of 3.81% |
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Market Growth 2023-2027 |
$185 billion |
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market structure |
fragmented |
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YoY growth rate (%) for 2022-2023 |
3.57 |
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regional analysis |
North America, Europe, Asia Pacific, Middle East, Africa, South America |
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Contribute to the market |
North America 51% |
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Major countries |
USA, Canada, Mexico, China, Germany |
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competitive environment |
Key companies, company market position, competitive strategies, industry risks |
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Introduction of major companies |
AEFP Group, Aequs Pvt Ltd., Camar Aircraft Parts Co., CTRM Sdn. Bhd., DAHER, Diehl Stiftung and Co. KG, Ducommun Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., IHI Aero Space Corporation, JAMCO Corporation, Kawasaki Heavy Industries, Ltd., Liebherr International Deutschland GmbH, Mitsubishi Heavy Industries, Ltd., Rolls Royce Holdings Plc, Safran SA, Thales Group, TransDigm Group Inc., and Dassault Aviation SA |
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Market trend |
Parent market analysis, market growth drivers and obstacles, fast growth segment analysis and slow growth segment analysis, COVID-19 impact and recovery analysis, future consumer dynamics, and market situation analysis for the forecast period. |
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Scope of customization |
If the report doesn’t contain the data you’re looking for, you can contact an analyst to customize your segments. |
table of contents:
executive summary
market scenery
Understanding market size
Past market size
five forces analysis
Market Segmentation by Aircraft Type
Market segmentation by product
Market segmentation by geography
customer situation
geographical landscape
Drivers, challenges and trends
Company scenery
Company analysis
appendix
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