Aerospace Industry in Mexico Market 2021: Industry Size, Share, Potential Growth, Demand And Analysis Of Key Players-The Boeing Company, Gulfstream Aerospace Corporation, Bombardier Inc

Aerospace Industry in Mexico Market by Component, Application, Services, and Region- Forecast to 2025

The Global Aerospace Industry in Mexico Market Research Report 2021-2025 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Aerospace Industry in Mexico business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Aerospace Industry in Mexico worth chain and its wholesaler examination. Aerospace Industry in Mexico Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The aerospace industry in Mexico is anticipated to grow at a CAGR of more than 5% during the forecast period.

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Top Leading Companies of Aerospace Industry in Mexico Market are The Boeing Company, Gulfstream Aerospace Corporation, Bombardier Inc., Safran, DAHER, Honeywell International Inc., GKN Aerospace, Raytheon Technologies Corporation, GE Aviation, Eaton Corporation, Mexicana MRO Service and others.

Industry News And Updates on Aerospace Industry in Mexico Market-

MRO Industry Held the Largest Market Share in 2019

MRO is a key industry segment in Mexico and is now the largest revenue generator for the aerospace industry in the country. The increasing replacement parts manufacturing in the country, along with the growth in local MRO capabilities (which is assisted by the investments from the aircraft and component OEMs) has helped the market grow a long way to become the largest segment in the industry. The segment is expected to become more vital in the years to come, as the fleets of the airlines and private aircraft continue to grow. The average age of commercial aircraft in Mexico is around 9 years. The oldest fleet of aircraft in the countrys airline fleet has an age of above 30 years.

Key Market Trends Aerospace Industry in Mexico Market-

Increasing Aerospace Exports From Mexico

The aerospace manufacturing sector in Mexico is a top-performing sector and contributes significantly toward the overall growth of the Mexican economy. Currently, Mexico is the 14th largest aerospace supplier globally and is expected to enter the top 10 during the forecast period. Over the last 15 years, exports from aerospace manufacturing in Mexico grew with a healthy growth rate of over 14% per year on average. In 2019, the aerospace exports from Mexico grew by 10 percent over 2018. The advent of major aircraft OEMs and suppliers like General Electric, Airbus, Safran, Bombardier, and Latcore Group, among others into the country's manufacturing sector, driven by the lower manufacturing costs in the country, has significantly contributed to the growth in exports from the country over the years.

Competitive Landscape On Aerospace Industry in Mexico Market-

Competitive Landscape

The aerospace industry in Mexico is highly fragmented due to the presence of several companies in Mexico. Currently, there are no local aircraft OEMs based in Mexico. However, there are several foreign players that manufacture, engineer, and design aircraft parts and components for commercial, military, and general aviation in the country. According to Federacin Mexicana de la Industria Aerospacial or FEMIA, Mexicos aerospace sector grew from 100 manufacturing firms and organizations in 2004 to more than 350 in 2019. Baja California, Queretaro, Sonora, Nuevo Leon, and Chihuahua are the Mexican states that are known for manufacturing in the aerospace sector.

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