Aerospace Parts Manufacturing Market Size, Share and Competitive Insight Report 2030
Future of Executive Summary Aerospace Parts Manufacturing Market: Key Dynamics, Size & Share Analysis
The Global Aerospace Parts Manufacturing Market size was valued at around USD 936 billion in 2024 and is projected to reach USD 1,200 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4% during the forecast period, i.e., 2025-30. The main reason behind this growth is the increasing number of new planes. As new planes are manufactured, they also create a high demand for various parts that are to be used in them. For instance, Airbus delivered 61 commercial jets in April 2024 whereas this number was 54 in the same month of 2023.
Top Market Challenges Impacting the Aerospace Parts Manufacturing Market Growth
Fluctuating Raw Material Prices – The aerospace parts are made up of elements that can stand strong against extreme conditions such as high pressure, temperature variations, stress, etc. As these parts are imported from other countries, their price can fluctuate due to various reasons such as differences in production and supply rates, cost of production, natural disasters, wars, etc. As a result, the inventories of various aerospace parts manufacturers will be affected, thus limiting their production. It also makes it difficult for them to maintain competitive prices. For instance, in 2022, the US removed the import taxes of steel from Ukraine after Russia’s attack. This resulted in a decrease in steel prices for a while but they increased again due to the critical war situation and the stoppage of exports from Ukraine. Therefore, the fluctuating prices of raw materials can limit market growth by affecting inventories and prices.
Understanding the Core Segments in the Aerospace Parts Manufacturing Market
By Product (Engine, Aero structure, Cabin Interiors, Avionics, Insulation Components, Other Ancillary Equipment), By End User (Commercial Aircraft, Business Aircraft, Military Aircraft, Space Rocket) and Others
Geographical Analysis of the Aerospace Parts Manufacturing Market
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Regionally, North America holds the major share of the market around 41%. This is because various leading aircraft manufacturers are present in this region. As a result, there is a high demand for aircraft parts from these companies.
Who Dominates the Aerospace Parts Manufacturing Market Insights on Key Industry Players?
Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.
- Boeing
- Airbus
- Derco
- RTX
- Northrop Grumman
- General Electric Aerospace
- Honeywell
- Rolls Royce PLC
- Safran
- Thales Group
- Collins Aerospace
- L3Harris Technologies
- MTU Aero Engines
- Intrex Aerospace
- BAE Systems
Why Choose This MarkNtel Advisors Research Report
- Comprehensive Insights – Offers a 360° view of the market, combining qualitative and quantitative analysis for a deep understanding of trends, drivers, challenges, and opportunities.
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