Aerospace Parts Manufacturing Market to Grow by USD 210.2 Billion (2025-2029), Vendor Strategies Boost Growth, AI-Powered Market Evolution Report - Technavio

The aerospace parts manufacturing market is poised for substantial growth, projected to expand by USD 210.2 billion at a CAGR of 4.4% between 2024 and 2029. This growth is fueled by rising demand for new commercial and defense aircraft, advancements in aerospace materials, and rapid technological innovations. The emergence of aerospace forging companies, aircraft component manufacturers, aerospace titanium machining services, and aerospace MRO services is playing a crucial role in shaping market dynamics. Additionally, aerospace parts suppliers and distributors are streamlining supply chains to enhance efficiency and reduce costs.Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Segmentation

By Product

• Aerostructure

• Engine

• Avionics

• Others

By Aircraft Type

• Commercial

• Business

• Military

By Material

• Aluminum 6061-T6

• Stainless Steel

• Titanium

By Manufacturing Method

• CNC Machining

• Sheet Metal Fabrication

• Injection Molding

Regional Market Trends

North America

• United States

• Canada

Europe

• Germany

• United Kingdom

• France

• Spain

Asia-Pacific

• China

• India

• Japan

Middle East and Africa

South America

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Market Dynamics

Key Growth Drivers

• Increasing demand for new commercial and defense aircraft due to rising air travel, fleet replacement, and urbanization.

• Advancements in aerospace materials such as carbon fiber composites, enhancing aircraft durability and reducing weight.

• Expansion of UAV and air taxi markets, driving demand for specialized aerospace parts.

• Rising military aircraft procurement for defense modernization programs.

• Growing demand for aerospace parts procurement for space exploration missions and MRO services.

Emerging Market Trends

• Adoption of 3D printing and additive manufacturing for cost-effective and efficient aerospace parts production.

• Expansion into propulsion systems, satellite components, and avionics systems.

• Increasing focus on lightweight, fuel-efficient aircraft to reduce greenhouse gas emissions.

Challenges Facing the Industry

• High manufacturing costs due to stringent quality and safety standards.

• Need for significant R&D investments to develop advanced aerospace components.

• Complexity in supply chain management for aerospace parts suppliers and manufacturers.

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Market Players

• AEFP Group

• Aequs Pvt Ltd.

• Camar Aircraft Parts Co.

• CTRM Sdn. Bhd.

• DAHER

• Diehl Stiftung & Co. KG

• Ducommun Inc.

• Eaton Corp. plc

• General Electric Co.

• Groupe Industriel Marcel Dassault

• Honeywell International Inc.

• IHI Corp.

• JAMCO Corp.

• Kawasaki Heavy Industries Ltd.

• Liebherr International AG

• Mitsubishi Heavy Industries Ltd.

• Rolls-Royce Holdings Plc

• Safran SA

• Thales Group

• TransDigm Group Inc.

• W. L. Gore and Associates Inc.

Recent Developments

• November 2024: Boeing inaugurated a new advanced composites production facility to manufacture lightweight, high-strength aerospace components, improving fuel efficiency and reducing emissions.

• October 2024: Airbus partnered with a leading additive manufacturing company to develop 3D-printed aerospace components, enhancing cost-effectiveness and precision in production.

Future Insights

The aerospace parts manufacturing market is set to experience continued expansion, driven by technological innovations, increasing commercial and defense aircraft production, and diversification into new market segments. The integration of advanced materials, 3D printing, and sustainability-focused solutions will shape the industry's future, ensuring enhanced efficiency, performance, and environmental responsibility across aerospace operations.