The global aircraft parts manufacturing players are paying special emphasis on reduction of environmental pollution caused by commercial and defense aircraft. The fuel efficiency requirements are met by adopting lightweight, advanced generation parts in the aircraft through material and process developments. Replacement of obsolete aircrafts with modern aircraft are creating a huge avenue for the growth of the aircraft parts manufacturing market. Additionally, the development of new-age technological capabilities, along with airworthiness for the production of superior quality critical aircraft parts including wings and fuselage are strengthening the global market.
MARKET SCOPE
The "Global Aircraft Parts Manufacturing Market Analysis to 2028" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of Aircraft Parts Manufacturing market with detailed market segmentation by Component, Aircraft Type, Application, and geography. The global Aircraft Parts Manufacturing market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Aircraft Parts Manufacturing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- On the basis of Component, the market is segmented as, Engine, Avionics, Aerostructures, Cabin Interiors, Cabin Interiors, and Others.
- On the basis of Aircraft Type, the market is segmented as Fixed Wing Aircraft and Rotary Wing Aircraft.
- Based on Application, the market is segmented into Commercial Aircraft, Military Aircraft, and General Aviation Aircraft.
MARKET DYNAMICS
Drivers:
- Rising demand of aircraft in both commercial and defense sector which will ultimately create ample demand for aircraft parts manufacturing
- Advancements in manufacturing and material processes
Restraint -
- Fluctuation in prices of raw materials
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aircraft Parts Manufacturing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Aircraft Parts Manufacturing market in these regions.
IMPACT OF COVID-19 ON AIRCRAFT PARTS MANUFACTURING MARKET
COVID-19 severely impacted the aviation industry by the end of 2020 due to plummeting air traffic lockdown-related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the aviation and aerospace industry, including Aircraft Parts Manufacturing manufacturers. As a result the consequent fall in demand, airlines have been focusing on reducing costs and expenses, including cutting back on aircraft manufacturing spending. Due to the long duration of parked aircraft, there is an accelerated rate of aircraft retirements and more efficient and advanced aircraft deployment. Since aircraft components like Aircraft Parts Manufacturing play a vital role and has wide application in commercial aviation, the demand for Aircraft Parts Manufacturing is expected to regain momentum with the reopening of commercial flights. Moreover, the demand for such vital components for military aircraft also remains constant owing to the requirements of the military agency. Thus, the market for Aircraft Parts Manufacturing, after initially experiencing a steep dip in growth, is expected to remain neutrally affected by the pandemic.
MARKET PLAYERS
The reports cover key developments in the Aircraft Parts Manufacturing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Aircraft Parts Manufacturing market are anticipated to lucrative growth opportunities in the future with the rising demand for Aircraft Parts Manufacturing market. Below mentioned is the list of few companies engaged in the Aircraft Parts Manufacturing market.
The report also includes the profiles of key Aircraft Parts Manufacturing market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Eaton Corporation Plc
- GE Aviation
- Honeywell International Inc.
- JAMCO Corporation
- Lockheed Martin Corporation
- Northrop Grumman Corporation
- Raytheon Technologies
- Rolls Royce
- Safran
- Thales Group