Aerospace Parts Manufacturing Market Worth
$1.25 Trillion By 2027
The global aerospace parts manufacturing market size is projected to value at USD 1.25 trillion by 2027, with a CAGR of
4.1% from 2020 to 2027. Rising freight traffic and passengers in developing countries are accelerating the demand for
advanced aircraft, which is predicted to drive market growth.
Most of the aerospace manufacturing units are connected through the value chain and are active in the manufacturing
process. The companies have supplier contracts for the supply of these parts along with in-house production services.
The companies are further engaged in the procurement of raw material and quality control and designing of the parts
provided by other suppliers.
This industry is predominantly focused in Europe and North America due to the large-scale existence of eminent aircraft
companies. India and China are anticipated to emerge as potential markets in the upcoming years due to the
widespread growth of export and aircraft part manufacturing activities. The world trade in sub-assemblies and
components has gone up by around 25% in the last ten years. However, the industry is still concentrated with the top 3
economies such as U.S., France, and Germany with a share of above 60% of the overall aircraft manufacturing.
The aerospace parts manufacturing market has witnessed a rising trend of integration of eminent players engaging in
joint ventures. The strategy is expected to provide sustainability to companies and combat higher competition based on
technological advancements, reduced failure-risk, and geographical expansion. It further supports the company’s easy
market access for acquiring long-term contracts.
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“The global aerospace parts manufacturing market size is projected to value at USD 1.25
trillion by 2027, with a CAGR o