Latest News- Aerospace Parts Manufacturing Market: Aerostructure is expected to lead the Product segment during 2025-2029

The Aerospace Parts Manufacturing Market is being driven by Rise in demand for new commercial and defense aircraft

The Aerospace Parts Manufacturing Market is expected to grow at a CAGR of 4.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 210.2 billion. The global aerospace parts manufacturing market is experiencing significant growth, driven primarily by technological advancements that enhance innovation, efficiency, and competitiveness. One such technology fueling this growth is additive manufacturing, or 3D printing, which enables the production of intricate aerospace components with reduced weight and improved performance. Notable companies, such as General Electric Co, have adopted this technology to manufacture complex aerospace parts, including lightweight brackets, engine components, and even entire rocket engines. Additive manufacturing facilitates rapid prototyping, customization, and cost-effective production, making it an essential tool for aerospace parts manufacturers. This technological advancement is revolutionizing the industry by enabling the production of high-performance, lightweight components with shorter lead times. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Aerostructure
  • Engine
  • Avionics
  • Others
• Aircraft Type
  • Commercial
  • Business
  • Military
• Material
  • Aluminum 6061-T6
  • Stainless steel
  • Titanium
• Method
  • CNC machining
  • Sheet metal fabrication
  • Injection molding
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Spain
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in demand for new commercial and defense aircraft
• Growing space exploration and satellite industry
• Growth of MRO industry

However, the market also witnesses some limitations, which are as follows:

• High cost associated with aerospace parts manufacturing
• Skilled workforce shortages for manufacturing aerospace parts
• Long development cycles of aerospace parts

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Market Scope in Aerospace Parts Manufacturing Market Research Report

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Research Analysis Overview

The Aerospace Parts Manufacturing Market encompasses the production of various components for aircraft and spacecraft, including structural components, powerplant parts like turbine, jet, and rocket engines, landing gear, flight control systems, hydraulic systems, electrical systems, and propulsion systems. This market also caters to spacecraft components, unmanned aerial vehicles, and testing services such as aerospace testing, certification testing, fatigue testing, and corrosion resistance assessment. Key considerations include high-temperature performance, lightweight design, integrated systems, digital twins, virtual reality, augmented reality, cloud computing, Internet of Things, supply chain transparency, and eco-friendly manufacturing using recycled materials and bio-based materials. Aerospace standards, manufacturing technology, advanced composites, high-performance polymers, aerospace materials research, design software, computer-aided design, computer-aided engineering, finite element analysis, product lifecycle management, and aerospace market dynamics are major innovation drivers.

Market Research Overview

The global aerospace parts manufacturing market encompasses the production of essential components for aerial platforms, including aircraft parts such as airframe and engine components, as well as avionics systems. This market falls under the broader umbrella of the aerospace and defense industry, which also includes defense platforms, arms and ammunition, defense electronics, defense logistics equipment, space platforms, and launch vehicles. Furthermore, the market extends to maintenance, repair, and overhaul (MRO) services for commercial and general aviation and defense sectors. According to Technavio, the global capital goods market size is determined by the combined revenue generated by manufacturers and providers for industries like aerospace and defense, building and construction, electrical equipment, industrial conglomerates, machinery, trading companies, and distributors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/