Global Aerospace Parts Market Size to Grow at a CAGR of 3.7% from 2021 to 2030

The global aerospace parts market is expected to value USD 900.75 billion in 2021 and is expected to grow at a CAGR of 3.7% during the forecast period. •Profiles of key market players operating in the global aerospace part market, which include Intrex Aerospace, Safran Group, JAMCO Corporation, Rolls Royce PLC, GE Aviation, Aero Engineering & Manufacturing Co., Woodward, Inc., CAMAR Aircraft Parts Company, Aequs, Eaton Corporation PLC, and Lycoming Engines.


Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) -- The Global Aerospace Parts Market Size is expected to value USD 900.75 billion in 2021 and is expected to grow at a CAGR of 3.7% during the forecast period. Aerospace parts are usually made from advanced materials such as nickel-based superalloys, titanium alloys, ultrahigh-temperature ceramics or special sheets which are costly, difficult, and time-consuming to manufacture. Increasing demands for new-generation, lightweight, and fuel-efficient aircraft across the world with emphasis on reducing greenhouse emission are driving the global aerospace parts market. Also, increasing rate of merger and acquisitions in aerospace parts industries with technological advancements are creating various new opportunities for the market players.

Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-62325  

However, the high costs involved in manufacturing the aerospace parts may restrain the overall growth of the aerospace parts market. The manufacturing of aerospace parts requires a lot of time and efforts, which sometimes fails to distribute their products on required time due to high demand. This is expected to pose a challenge to the aerospace parts market.

Global Aerospace Parts Market, by Product Outlook

Based on product outlook, the market is segmented into aircraft manufacturing, engines, avionics, equipment, system, and support, and insulation components. Insulation components segment is the fastest growing segment during the forecast period. The segment growth can be attributed to growing aircraft fleet and the need for timely replacement of aerospace part. Insulation components reduce emission and provide protection and safety of personnel, which is contributing to segment growth.

Global Aerospace Parts Market, by End Use

Based on end use, the market is segmented into business aircraft, commercial aircraft, military aircraft, and others. Commercial aircraft segment is dominating the market in 2021 and is expected to remain dominant during the forecast period. The segment growth can be attributed to commercial aircrafts generates economic growth, employment, and facilitates international trade and tourism.

Global Aerospace Parts Market, by Region

Based on region, the market is segmented into Europe, North America, the Middle East and Africa, Asia Pacific, and South America. North America holds the largest market share and is expected to remain largest during the forecast period.

The presence of leading manufacturers such as Intex Aerospace, Woodward, Inc., GE Aviation, and many others is contributing to the growth of the North America market. Additionally, increasing demands for new-generation aircraft and increasing demands for fixed-owing aircraft in U.S. are expected to boost regional aerospace parts market during the forecast period.

Enquiry Before Buying This Report @ https://www.quincemarketinsights.com/enquiry-before-buying/enquiry-before-buying-62325  

Some Noted Developments Considered in the Report:

  • September 2021 – FDH Aero acquired Madison Aerospace. FDH Aero is an aerospace defense products distributor serving aftermarket supply chains and aircraft production. The acquisition expands FDH’s reach with additional product offerings in the OEM segment by serving a diversified customer base.
  • August 2021 – Platinum Equity announced the completion of its acquisition with Unical Aviation Inc., global aerospace supply chain services provider. The acquisition includes Unical MRO, Unical Aero, Unical Aviation and Unical 145.
  • August 2021 – Latécoère, a number one partner of major international aircraft manufacturers announced the acquisition of Belgium-based Technical Airborne Components (TAC). Latécoère is delivering its external growth strategy during this acquisition.

COVID-19 Impact on Global Aerospace Parts Market

As COVID-19 pandemic continues across the world, many global aerospace parts manufacturing industries are suffering disruption in production and slow demand due to restrictions on travelling and return of workers to their homes. Due to low production level, the overall revenue also reduced during the pandemic. However, with the ease in government restrictions across the world, the business functions are returning to normal, and the aerospace parts market is expected to gear up with their production capacity during the forecast period.

Some Major Findings of the Global Aerospace Parts Market Report Include:

  • In-depth global neurological movement disorders market analysis by the segments, along with an analysis of trend-based insights and factors
  • Profiles of key market players operating in the global aerospace part market, which include Intrex Aerospace, Safran Group, JAMCO Corporation, Rolls Royce PLC, GE Aviation, Aero Engineering & Manufacturing Co., Woodward, Inc., CAMAR Aircraft Parts Company, Aequs, Eaton Corporation PLC, and Lycoming Engines
  • Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
  • Key impact factor analysis across regions that include analysis, along with drivers, restraints, opportunities, and challenges that are prevailing in the global aerospace part market
  • Impact of COVID-19 on the global aerospace part market

Browse key industry insights from the report, Aerospace Parts Market, By Type (Engines, Aircraft Manufacturing, Cabin Interiors, Equipment, System, and Support, Avionics, Insulation Components), By Application (Commercial Aircraft, Business Aircraft, Military Aircraft, Others), By Region (North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, Rest of the World) – Market Size & Forecasting (2021-2030)”, in-depth analysis along with ToC.

Buy Now Full Report @ https://www.quincemarketinsights.com/insight/buy-now/aerospace-parts-market/single_user_license

Contact Us:

Ajay D

Quince Market Insights

Pune India

Phone: US +1 208 405 2835

UK +44 1444 39 0986

APAC +91 706 672 4848

Email: sales@quincemarketinsights.com  

Web: www.quincemarketinsights.com

Browse Related Reports:

  • Global Aerospace Plastics Market, By Application (Flight Deck & Cockpit, Airframe) By Type (PMMA, PEEK, PC, ABS, PPS), Cabin Areas, Wings & Rotor Blades), By End User (Commercial Freighter Aircraft, Rotary Aircraft, General Aviation, Military Aircraft), By Region (Eastern Europe, Asia Pacific, North America, Western Europe, Rest of the World) – Market Size & Forecasting (2016-2028)

https://www.quincemarketinsights.com/industry-analysis/aerospace-plastics-market

  • Semiconductor in Aerospace and Military Market, By Product Type (Memory, Logic, MOS Microcomponents, Analog, Others), By End User (Aerpspace, Military), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, And Rest Of The World) – Market Size & Forecasting To 2028

https://www.quincemarketinsights.com/industry-analysis/semiconductor-in-aerospace-and-military-market

  • High Performance Aerospace Materials Market By Application (Military Aircraft, Commercial Aircraft), By TYPE (Steel Alloys, Aluminium Alloys, Titanium Alloys, Composite Materials, Super Alloys, Others), By Region (Eastern Europe, Asia Pacific, North America, Middle East, Western Europe, Rest of the World) – Market Size & Forecasting (2016-2028)

https://www.quincemarketinsights.com/industry-analysis/high-performance-aerospace-materials-market

  • Aerospace Drive Belts Market, By Product Type (Timing Belts, Open-Ended Belts, V- And V-Ribbed Belts), By Application (Commercial Aviation, Military Aviation, Other), By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, And Rest Of The World) – Market Size & Forecasting To 2028

https://www.quincemarketinsights.com/industry-analysis/aerospace-drive-belts-market

  • Aerospace Industry Reamers Market, By Application (Guided Missiles, Aircraft, Space Vehicles, Others), By Type (Insert Type, Monobloc Type), By Region (Western Europe, North America, Eastern Europe, Middle East, Asia Pacific, And Rest Of The World) – Market Size & Forecasting To 2028

https://www.quincemarketinsights.com/industry-analysis/aerospace-industry-reamers-market