Market Research Report
Aerospace Parts Manufacturing Market Size, Share & Trends Analysis Report By Product (Engine, Aircraft Manufacturing, Avionics), By End Use (Commercial, Military, Business), And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||785989|
|Published||Content info||311 Pages
Delivery time: 2-3 business days
|Aerospace Parts Manufacturing Market Size, Share & Trends Analysis Report By Product (Engine, Aircraft Manufacturing, Avionics), By End Use (Commercial, Military, Business), And Segment Forecasts, 2020 - 2027|
|Published: February 6, 2020||Content info: 311 Pages||
The global aerospace parts manufacturing market size is expected to reach USD 1.25 trillion by 2027, exhibiting a CAGR of 4.1% over the forecast period, according to a new report by Grand View Research, Inc. Increasing passenger and freight traffic in emerging economies is driving the demand for next-generation aircraft, which in turn is expected to boost the market growth.
A majority of the aircraft manufacturing companies are integrated across the value chain and are highly active in the parts manufacturing process. These companies have in-house production facilities as well as supplier contracts for the procurement of these parts. The manufacturers are also involved in raw material procurement and designing and quality control of the parts offered by third party suppliers.
The market for aerospace part manufacturing is primarily concentrated in North America and Europe, owing to the presence of major aircraft manufacturers. China and India are expected to emerge as the leading markets in the forthcoming years, owing to the rapid growth of aircraft part manufacturing and export activities. The global trade in components and sub-assemblies has increased by approximately 25% during the past decade. However, the sector still remains consolidated with the top 3 countries including U.S., Germany, and France, accounting for over 60% of the total aircraft manufacturing.
The market has observed a trend of a collaboration of the major companies entering into a joint venture. This helps the companies to sustain in the highly competitive market in terms of geographical expansion, technological advancements, and lowering the risk of failure. This also aids the companies to easily access the market for gaining long term contracts.