Aircraft Machined Components Market is Forecasted to Reach US$ 43.7 billion in 2028, Says Stratview Research

The global aircraft machined components market is projected to witness a growth rate of 6.8% annually from 2023 to 2028, with an anticipated size of US$ 43.7 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aircraft machined components market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 43.7 billion
Growth (CAGR): 6.8% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 6
Number of Tables & Graphs: 100+

Segment Insights on the Aircraft Machined Components Market:
The global aircraft machined components market is segmented based on component type, aircraft type, application type, material type, end-user type, and region.

Based on component type - The market is segmented into milled parts, turned parts, and others. Among these component types, milled parts are expected to maintain their market dominance over the next five years. Advancements in the milling processes to offer excellent benefits, such as finishing accuracy, increasing uniformity in design, lead time reduction, and ease in manufacturing complex parts, help the process better position itself in the market.

Based on the aircraft type - The market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Despite taking a nosedive in 2020, commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Returning in service of the B737Max, the entry of new programs (C919, B777x, and MC-21), and the expected recovery in the production rates of the A320 and B737 programs are likely to fuel the segment's growth.

Based on the application type - The market is segmented into metal airframes, engines, landing gear, and others. Among these application types, the engine is expected to remain the most dominant segment of the market, during the forecast period. Some of the major machined engine components are compressor shafts, impellers, turbine blisks, turbine blades, thrust fittings, fan casings, combustion casings, fuel nozzles, turbine diffusers, and pylon brackets. As these engine components are of paramount importance in an aircraft, it is also expected that the segment will witness the fastest growth in the years to come.

Based on the material type - The market is segmented into aluminum, stainless steel, titanium, and other metals & alloys. Among these material types, aluminum is expected to remain the most dominant material type in the market during the forecast period, whereas titanium is likely to witness the fastest growth during the same period.
Key factors for aluminum's dominance are its excellent track record of over eight decades, lower density, anti-corrosive properties, high malleability, and ductility, and more economical than that of its competitive materials, such as titanium.
On the other hand, titanium is gaining preference in the market owing to its various benefits, such as a high strength-to-weight ratio, high corrosion and heat resistance, and higher compatibility with composite materials.

Based on the end-user type - The market is segmented as OE and aftermarket. OE is expected to remain the most dominant segment of the market during the forecast period, whereas aftermarket is likely to be the fastest-growing end-user type during the same period. Commercial aircraft (which includes narrow-body and wide-body aircraft), account for the majority of the OE sales for aircraft machined components.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/1030/aircraft-machined-components-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for aircraft machined components during the forecast period. This growth outlook is majorly attributed to the following-
- The presence of many aircraft OEMs, tier players, machined component manufacturers, and raw material suppliers.
- The USA is likely to remain the leading market, both in, North America and globally, during the forecast period.
- Concurrently, Asia-Pacific is likely to be the fastest-recovering region during 2023-2028.
- China is gaining a significant share and accounted for more than two-fifths of the Asia-Pacific's market in 2022. Similarly, India is likely to be the new growth engine of the regional market in the coming five years.

Aircraft Machined Components Market Drivers:

Some of the key drivers listed in the report are given below.
- The increased aircraft production, and the need for aircraft replacement.
- Growing air travel demands and expanding airline fleets, the industry's recovery is anticipated in the upcoming years.

Top Companies in the Aircraft Machined Components Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• Collins Aerospace
• GE Aerospace
• GKN Aerospace
• Howmet Aerospace Inc.
• Mitsubishi Heavy Industries, Ltd.
• MTU Aero Engines AG
• Precision Castparts Corp.
• Premium AEROTEC GmbH (Airbus Aerostructures GmbH)
• Spirit AeroSystems, Inc
• STELIA Aerospace (Airbus Atlantic)

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aircraft Machined Components Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Aircraft Turned Parts Market: https://www.stratviewresearch.com/1029/aircraft-turned-parts-market.html

• Aircraft Nacelle Components Market: https://www.stratviewresearch.com/296/aircraft-nacelle-components-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.