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Aerospace Parts Manufacturing Market: Steady Growth and Trends Driving towards a Bright Forecast
Aerospace Parts Manufacturing Market
What Is The Projected Market Size Of The Global Aerospace Parts Manufacturing Market And Its Growth Rate?
The aerospace parts manufacturing market shows a consistent growth trajectory:
•The market grew from $981.27 billion in 2024 to $1029.19 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%.
•Estimated to expand to $1275.16 billion in 2029 with a CAGR of 5.5%, shaped by modernization, a growing space industry, emerging market demand, supply chain resilience, and environmental sustainability.
What Is Driving The Growth In The Aerospace Parts Manufacturing Market?
A significant propellant for the aerospace parts manufacturing market is the rise in passenger traffic, a metric calculated by dividing the number of passenger miles traveled by the total distance traveled. The subsequent demand for more aircraft requires increased manufacturing of aerospace parts. For instance, the International Air Transport Association (IATA) reported that in August 2022, international air traffic increased by 229.5% compared to 2021, demonstrating the strong correlation between passenger traffic and market growth.
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Who Are the Key Players Driving Aerospace Parts Manufacturing Market Growth?
Key companies driving the aerospace parts manufacturing market include:
•RTX Corporation
•General Electric Company
•Airbus SAS
•Honeywell International Inc.
•Mitsubishi Heavy Industries Ltd.
•BAE Systems plc
What Are The Key Trends In The Aerospace Parts Manufacturing Market?
Key trends shaping the future of the aerospace parts manufacturing industry include:
•Automation and robotics integration
•Electrification and hybrid propulsion systems
•Implementation of augmented reality (AR) and virtual reality (VR)
•Global collaboration and outsourcing
•Cybersecurity measures.
What Are The Segments Of The Global Aerospace Parts Manufacturing Market?
The aerospace parts manufacturing market encompasses several segments:
•By Product: Engines, Aerostructure, Cabin Interiors, Equipment, System and Support, Avionics, Insulation Components
•By Application: Interior, Propulsion Systems
•By End Use: Commercial Aircraft, Business Aircraft, Military Aircraft, Other Uses
Which Region Leads The Aerospace Parts Manufacturing Market?
North America was the largest region in the aerospace parts manufacturing market in 2024, while Asia-Pacific stands as the expected fastest-growing region during the forecast period. The report covers all geographical regions, including Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Aerospace Parts Manufacturing Market Global Market Report?
•Market Size Analysis: Analyzing size by key regions, countries, product types, and applications.
•Market Segmentation Analysis: Identifying subsegments for effective categorization.
•Key Player Focus: Focusing on key players to define market value, share, and competitive landscape.
•Growth Trends Analysis: Examining individual growth trends and prospects.
•Market Contribution: Evaluating contributions of different segments to the overall growth.
•Growth Drivers: Detailing key factors influencing market growth, including opportunities and drivers.
•Industry Challenges: Analyzing challenges and risks affecting the market.
•Competitive Developments: Analyzing competitive developments like expansions, agreements, and new product launches.
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