Sky's the Limit: Aerospace Parts Manufacturing Market Set to Achieve $1.94 Trillion Milestone by 2031, Predicts Allied Market Research

Allied Market Research published a report, titled, "Aerospace Parts Manufacturing Market by Product Type (Engines, Cabin Interiors, Aerostructure, Equipment, System, and Support, Avionics, Insulation Components), by End User (Commercial Aircraft, Business Aircraft, Military Aircraft, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global aerospace parts manufacturing industry was valued at $0.85 trillion in 2021 and is estimated to generate $1.94 trillion by 2031, witnessing a CAGR of 9.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

🔶𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/10074

𝐋𝐢𝐬𝐭 𝐎𝐟 𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:
Dassault Aviation
Lockheed Martin Corporation
Thales Group
Lufthansa Technik
Rolls-Royce plc
Boeing Company
Honeywell International Inc.
Safran S.A.
GENERAL ELECTRIC
PARKER HANNIFIN CORP

𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬

The market for aerospace parts manufacturing is experiencing growth due to various factors such as a rise in demand for commercial aircraft, an increase in adoption composite components, surge in need for military aircraft, government initiatives, and advancement in technologies. However, the market growth is restrained by factors such as limited regulatory infrastructure, high manufacturing cost of aerospace parts, and lack of skilled people to manufacture aerospace parts. On the other hand, surge in adoption of 3D printing in aircraft manufacturing and rise in demand for lightweight & durable aerospace components will present new growth opportunities for the global aerospace parts manufacturing market in the coming years.

🔶 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/aerospace-parts-manufacturing-market/purchase-options

𝐓𝐡𝐞 𝐚𝐞𝐫𝐨𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐚𝐜𝐡𝐢𝐞𝐯𝐞 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐠𝐫𝐨𝐰𝐭𝐡 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on product type, the aerostructure segment contributed to the largest share of more than two-fifths of the global aerospace parts manufacturing market in 2021 and is expected to dominate the market during the forecast period. The demand for aerostructure is propelled by several factors including, the need for fuel efficiency and environmental sustainability, the growth of air transportation, advancements in materials and manufacturing technology, and military modernization program. However, the equipment, system, and support segment are expected to witness the fastest CAGR of 11.9% from 2022 to 2031. This is due to the growth of the aviation industry, advancements in technology particularly in material science and electronics, regulatory requirements, and the need for improved safety and efficiency.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐚𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

On the basis of end user, the commercial aircraft segment grabbed the highest share of more than half of the overall aerospace parts manufacturing market in 2021 and is projected to maintain its dominance in 2031. Commercial aircraft are the largest segment of the global aerospace parts manufacturing market, as the number of air travel passengers have largely recovered by 2022. The expected increase in passenger travel on commercial aircraft is projected to drive growth in the aerospace parts and components market. Moreover, the business aircraft segment is expected to exhibit the fastest CAGR of 10.9% during the forecast period. The rise in demand for business jets is projected to increase the demand for spare parts and components.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟏

Based on region, the market in North America accounted for nearly half of the global aerospace parts manufacturing market and is likely to dominate in terms of revenue during the forecast period. This is because, North America is the largest region in the global aerospace parts manufacturing market as the aerospace industry continuously innovates and develops modern technologies, like fuel efficient engines, composite materials, and advanced avionics. Also, the government in North America had provided policy and financial support to the aerospace industry which drives the growth of the market in the region. Moreover, the Europe is expected to witness the fastest CAGR of 11.8% from 2022 to 2031. The European Union and its members have increased their defense spending, creating ample opportunities for the development of aerospace companies to supply military aircraft and for countries to purchase new aircraft according to their needs.

🔶 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/10074

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By product type, the equipment, system & support segment is projected to dominate the global aerospace parts manufacturing market in terms of growth rate.
By end user, the business aircraft segment is projected to dominate the global aerospace parts manufacturing market in terms of growth rate.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/aircraft-manufacturing-market-A53658 - 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏
https://www.alliedmarketresearch.com/satellite-manufacturing-and-launch-systems-market-A11976 - 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐋𝐚𝐮𝐧𝐜𝐡 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟑-𝟐𝟎𝟑𝟐
https://www.alliedmarketresearch.com/satellite-manufacturing-market-A13678 - 𝐒𝐚𝐭𝐞𝐥𝐥𝐢𝐭𝐞 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 : 𝐆𝐥𝐨𝐛𝐚𝐥 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭, 𝟐𝟎𝟐𝟏-𝟐𝟎𝟑𝟏

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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