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.
Global Aerospace Parts Manufacturing Market Driver:
Increasing Air Travel – The number of people traveling by plane is continuously growing, mainly in emerging countries such as India, China, Brazil, etc. For instance, the number of passengers traveling in a single day through flights in India has crossed half a million number for the first time in November 2024, and that too in the non-festive season. To meet the increasing demand for air travel and stay competitive, the airline industry has to increase the number of commercial aircraft in their service. As a result, it creates a high demand for various parts that are used in the manufacturing of aircraft such as engines, communication & navigation devices, etc. For instance;
- SpiceJet will add 10 new commercial planes to its service by the end of 2024.
Moreover, increasing air travel correlates to the high flying time of planes, as a result, the need for regular aircraft checkups and repairs also increases which further increases the demand for aircraft parts. Therefore, due to the increasing air travel, the demand for plane parts has increased over time, and this trend is expected to continue in the coming years as well.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Aerospace Parts Manufacturing Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Product
- Engine- Market Size & Forecast 2020-2030, USD Million
- Aero structure- Market Size & Forecast 2020-2030, USD Million
- Cabin Interiors- Market Size & Forecast 2020-2030, USD Million
- Avionics- Market Size & Forecast 2020-2030, USD Million
- Insulation Components- Market Size & Forecast 2020-2030, USD Million
- Other Ancillary Equipment – Market Size & Forecast 2020-2030, USD Million
- By End User
- Commercial Aircraft- Market Size & Forecast 2020-2030, USD Million
- Business Aircraft- Market Size & Forecast 2020-2030, USD Million
- Military Aircraft- Market Size & Forecast 2020-2030, USD Million
- Space Rocket- Market Size & Forecast 2020-2030, USD Million
- Others (Training Aircrafts, Satellite, etc.)- Market Size & Forecast 2020-2030, USD Million
- By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – 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, and others
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