세계의 항공우주 부품 제조 시장 규모 : 유형별, 용도별, 지역별 범위 및 예측

Aerospace Parts Manufacturing Market Size And Forecast

The Aerospace Parts Manufacturing Market size was valued at USD 796.07 Billion in 2024 and is projected to reach USD 1203.31 Billion by 2032, growing at a CAGR of 5.30% from 2026 to 2032.

Aerospace refers to the collective efforts in engineering, science, and business aimed at enabling flight within the Earth's atmosphere and beyond into outer space.

An aerospace manufacturer is defined as an individual or company engaged in various activities related to the building, designing, selling, testing, and maintenance of aircraft, their components, rockets, missiles, or spacecraft. This industry is often categorized as a technology sector due to its reliance on advanced engineering and innovative solutions.

Aerospace parts encompass a wide range of components, including machining Inconel for high-temperature applications, manufacturing reaction-propulsion engines, fan blades, aircraft braking system components, hydraulic fittings, and military-spec electrical connectors, as well as various electronic aerospace components.

The aircraft industry supports both civil and military aviation by producing aircraft and their essential parts for maintenance and operation. Most production processes adhere to type certificates and Defense Standards set forth by government bodies, ensuring that all components meet the required safety and performance specifications.

This rigorous approach is crucial for maintaining the integrity and reliability of aerospace systems in both commercial and defense applications.

Global Aerospace Parts Manufacturing Market Dynamics

The key market dynamics that are shaping the global aerospace parts manufacturing market include:

Key Market Drivers

Increasing Global Air Passenger Traffic: The surge in global air travel significantly boosts the demand for aerospace parts manufacturing. As more people choose air transportation, airlines around the world seek to expand their fleets to meet the rising passenger numbers. According to the International Air Transport Association (IATA), global air passenger traffic, measured in revenue passenger kilometers (RPKs), grew by 3.4% in 2019 compared to 2018, reaching a record high of 4.5 billion passengers.

Growing Military Aerospace Expenditure: Increased defense budgets in many countries drive the demand for military aircraft and related components, stimulating the aerospace parts manufacturing market. The Stockholm International Peace Research Institute (SIPRI) reported that global military expenditure reached USD 1.9 Trillion in 2019, representing a 3.6% increase from 2018 and the largest annual growth in spending since 2010.

Technological Advancements in Aircraft Design: The development of more fuel-efficient and environmentally friendly aircraft models drives the need for advanced aerospace parts, boosting the manufacturing sector. According to the International Civil Aviation Organization (ICAO), the fuel efficiency of new aircraft has improved by over 20% compared to aircraft from the 1990s, with modern aircraft consuming approximately 3 liters of fuel per 100 passenger kilometers.

Key Challenges

Cyclical Nature of the Aerospace Industry: The cyclical nature of the aerospace industry introduces challenges for the aerospace parts manufacturing market, influencing market demand. This cyclicality is closely linked to economic conditions and impacts the overall health of the aviation sector. According to the Aerospace Industries Association (AIA), the U.S. aerospace and defense industry experienced a cyclical downturn in 2020, with total sales declining by 14% compared to 2019, dropping from USD 909 Billion to USD 874 Billion.

High Initial Capital Investment Requirements: The aerospace parts manufacturing industry requires substantial upfront investments in advanced machinery, technology, and skilled labor, which can act as a barrier to entry for new players and limit market growth. A report by the U.S. International Trade Administration stated that the average cost to develop a new commercial aircraft ranges from USD 10 Billion to USD 12 Billion, with much of this cost attributed to the complex parts and systems required.

Stringent Regulatory Standards: The aerospace industry is subject to rigorous safety and quality standards, which slow down production processes and increase costs for manufacturers. The Federal Aviation Administration (FAA) reported that in fiscal year 2020, it conducted over 50,000 aircraft certification-related activities, including inspections, tests, and evaluations, highlighting the extensive regulatory oversight in the industry.

Key Trends

Increasing Use of Lightweight Materials: The surging demand for lightweight materials in the aerospace industry presents significant opportunities for aerospace parts manufacturing. As airlines and aircraft manufacturers increasingly prioritize fuel efficiency and environmental sustainability, there is a growing need for advanced lightweight materials. According to a report by the U.S. Department of Energy, the use of advanced lightweight materials in aerospace applications is projected to reduce the weight of aircraft by up to 30% by 2030, leading to a 25% reduction in fuel consumption.

Adoption of Additive Manufacturing (3D Printing): The aerospace industry is increasingly adopting additive manufacturing techniques for parts production, allowing for more complex designs, reduced waste, and faster prototyping. A study by the European Patent Office (EPO) found that the number of additive manufacturing patent applications in the aerospace sector increased by 26% annually between 2015 and 2018, indicating rapid growth and innovation in this area.

Integration of the Internet of Things (IoT) and Predictive Maintenance: The aerospace industry is embracing IoT technologies for real-time monitoring and predictive maintenance of aircraft parts, enhancing safety and efficiency. According to a report by the International Air Transport Association (IATA), the implementation of predictive maintenance technologies in the aerospace industry could reduce maintenance costs by up to 15% and decrease aircraft-on-ground time by up to 35% by 2035.

Global Aerospace Parts Manufacturing Market Regional Analysis

Here is a more detailed regional analysis of the global aerospace parts manufacturing market:

North America

North America substantially dominates the global aerospace parts manufacturing market driven by the aging aircraft fleet replacement.

The North American economy is extremely favorable for aircraft manufacturing owing to an increased number of aging fleets in the region. Replacement of this aging aircraft has contributed to the lower operating efficiency and revenue requirements for the operating airlines.

According to the U.S. Federal Aviation Administration (FAA), the average age of the U.S. commercial aircraft fleet was 11.8 years in 2020, with approximately 20% of the fleet over 20 years old, indicating a significant potential for replacement and modernization.

North America hosts several of the world's largest aerospace companies, driving innovation and production in the region. The Aerospace Industries Association (AIA) reported that in 2019, the U.S. aerospace and defense industry generated $909 billion in sales revenue, accounting for nearly 1.8% of the country's total GDP.

Substantial military budgets in North America, particularly in the United States, drive demand for military aircraft and related parts. The Stockholm International Peace Research Institute (SIPRI) reported that the United States spent $778 billion on defense in 2020, accounting for 39% of global military expenditure and significantly contributing to the aerospace parts manufacturing market.

Increased investment in space exploration and satellite technology boosts demand for specialized aerospace parts. According to NASA's budget request for fiscal year 2021, the agency sought USD 25.2 Billion, a 12% increase from the previous year, with significant allocations for space exploration programs like Artemis, driving demand for advanced aerospace components.

Asia Pacific

Asia Pacific is anticipated to witness the fastest growth during the forecast period owing to the rapid growth in the aviation industry.

The growing development in the aviation industry in Asia Pacific is driven by the economic growth of Japan, China, and other countries. There is a rapid rise in international air travel along with growing demand for international cargo which is expected to trigger regional demand for MRO activities, boosting demand for aerospace parts.

According to the International Air Transport Association (IATA), the Asia-Pacific region is expected to see the fastest growth in air passenger numbers, with a projected 3.9% annual growth rate from 2019 to 2039, resulting in an additional 2.5 billion annual passengers by 2039.

Many countries in the Asia Pacific region are upgrading their military capabilities, including their air forces, driving demand for aerospace parts.

The Stockholm International Peace Research Institute (SIPRI) reported that military spending in Asia and Oceania totaled USD 528 Billion in 2020, an increase of 2.5% from 2019. China, the region's largest spender, increased its military budget by 1.9% to USD 252 Billion.

The proliferation of low-cost carriers in the region is driving demand for new aircraft and, consequently, aerospace parts.

According to a report by the Centre for Asia Pacific Aviation (CAPA), low-cost carriers accounted for approximately 31% of seat capacity in the Asia Pacific region in 2019, up from just 10% a decade earlier.

Several countries in the region are developing their aerospace manufacturing industries, contributing to market growth.

China's Commercial Aircraft Corporation of China (COMAC) reported that as of 2020, it had received 815 orders for its C919 narrow-body airliner from 28 customers, primarily Chinese airlines, indicating the growing domestic aerospace manufacturing capabilities in the region.

Global Aerospace Parts Manufacturing Market: Segmentation Analysis

The Global Aerospace Parts Manufacturing Market is segmented based on Type, End-User, And Geography.

Aerospace Parts Manufacturing Market, By Type

• Engine
• Aircraft Manufacturing
• Cabin Interiors
• Equipment, System and Support
• Avionics
• Insulation Components

Based on the Type, the Global Aerospace Parts Manufacturing Market is bifurcated into Engine, Aircraft Manufacturing, Cabin Interiors, Equipment, System and Support, Avionics, and Insulation Components. The aircraft manufacturing segment dominates the global aerospace parts manufacturing market, focusing on the production of complete aircraft, including airframes, wings, engines, and other essential components. A notable trend in this segment is the growing use of advanced materials, particularly composites, to reduce weight and improve fuel efficiency.

Aerospace Parts Manufacturing Market, By End-User

• Commercial Aircraft
• Business Aircraft
• Military Aircraft

Based on End-User, the Global Aerospace Parts Manufacturing Market is bifurcated into Commercial Aircraft, Business Aircraft, and Military Aircraft. The commercial segment dominates in the global aerospace parts manufacturing market owing to the production of components specifically for commercial aircraft, including passenger and cargo planes. Recently, this segment has experienced a rising demand for lightweight materials, fuel-efficient components, and advanced avionics. Airlines and aircraft manufacturers are prioritizing fleet upgrades and modernization, driving the need for innovative, technologically advanced aerospace parts tailored to meet the specific requirements of commercial aviation.

Aerospace Parts Manufacturing Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Global Aerospace Parts Manufacturing Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. North America substantially dominates the Global Aerospace Parts Manufacturing Market driven by the aging aircraft fleet replacement. The North American economy is extremely favorable for aircraft manufacturing owing to an increased number of aging fleets in the region. Replacement of this aging aircraft has contributed to the lower operating efficiency and revenue requirements for the operating airlines. According to the U.S. Federal Aviation Administration (FAA), the average age of the U.S. commercial aircraft fleet was 11.8 years in 2020, with approximately 20% of the fleet over 20 years old, indicating a significant potential for replacement and modernization. North America hosts several of the world's largest aerospace companies, driving innovation and production in the region. The Aerospace Industries Association (AIA) reported that in 2019, the U.S. aerospace and defense industry generated $909 billion in sales revenue, accounting for nearly 1.8% of the country's total GDP.

Key Players

The "Global Aerospace Parts Manufacturing Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are AMCO Corporation, Intrex Aerospace, Rolls Royce PLC, CAMAR Aircraft Parts Company, Safran Group, Woodward, Inc., Engineered Propulsion System, and Eaton Corporation plc.

• This section offers in-depth analysis through a company overview, position analysis, the regional and industrial footprint of the company, and the ACE matrix for insightful competitive analysis. The section also provides an exhaustive analysis of the financial performances of mentioned players in the given market.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Global Aerospace Parts Manufacturing Market Key Developments

• In August 2022, Safran Data Systems, a branch of Safran Electronics & Defense, successfully announced the acquisition of Captronic Systems, a local Indian company. This strategic decision establishes Safran Data Systems as a major player in the space industry, strengthening its international operations and broadening its product offering.
• In May 2022, JAMCO Corporation announced the Agreement with SkyDrive Inc., a firm creating flying cars. JAMCO will start the relationship by lending SkyDrive its Aircraft Interiors development specialists.

TABLE OF CONTENTS

1 INTRODUCTION OF GLOBAL AEROSPACE PARTS MANUFACTURING MARKET

• 1.1 Overview of the Market
• 1.2 Scope of Report
• 1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

• 3.1 Data Mining
• 3.2 Validation
• 3.3 Primary Interviews
• 3.4 List of Data Sources

4 GLOBAL AEROSPACE PARTS MANUFACTURING MARKET OUTLOOK

• 4.1 Overview
• 4.2 Market Dynamics
  • 4.2.1 Drivers
  • 4.2.2 Restraints
  • 4.2.3 Opportunities
• 4.3 Porters Five Force Model
• 4.4 Value Chain Analysis

5 GLOBAL AEROSPACE PARTS MANUFACTURING MARKET, BY TYPE

• 5.1 Overview
• 5.2 Engines
• 5.3 Aircraft Manufacturing
• 5.4 Cabin Interiors
• 5.5 Equipment, System and Support
• 5.6 Avionics
• 5.7 Insulation Components

6 GLOBAL AEROSPACE PARTS MANUFACTURING MARKET, BY END-USE

• 6.1 Overview
• 6.2 Commercial Aircraft
• 6.3 Business Aircraft
• 6.4 Military Aircraft
• 6.5 Other Aircraft

7 GLOBAL AEROSPACE PARTS MANUFACTURING MARKET, BY GEOGRAPHY

• 7.1 Overview
• 7.2 North America
  • 7.2.1 U.S.
  • 7.2.2 Canada
  • 7.2.3 Mexico
• 7.3 Europe
  • 7.3.1 Germany
  • 7.3.2 U.K.
  • 7.3.3 France
  • 7.3.4 Rest of Europe
• 7.4 Asia Pacific
  • 7.4.1 China
  • 7.4.2 Japan
  • 7.4.3 India
  • 7.4.4 Rest of Asia Pacific
• 7.5 Rest of the World
  • 7.5.1 Latin America
  • 7.5.2 Middle East

8 GLOBAL AEROSPACE PARTS MANUFACTURING MARKET COMPETITIVE LANDSCAPE

• 8.1 Overview
• 8.2 Company Market Ranking
• 8.3 Key Development Strategies

9 COMPANY PROFILES

• 9.1 JAMCO Corporation
  • 9.1.1 Overview
  • 9.1.2 Financial Performance
  • 9.1.3 Product Outlook
  • 9.1.4 Key Developments
• 9.2 Intrex Aerospace
  • 9.2.1 Overview
  • 9.2.2 Financial Performance
  • 9.2.3 Product Outlook
  • 9.2.4 Key Developments
• 9.3 Rolls Royce PLC
  • 9.3.1 Overview
  • 9.3.2 Financial Performance
  • 9.3.3 Product Outlook
  • 9.3.4 Key Developments
• 9.4 CAMAR Aircraft Parts Company
  • 9.4.1 Overview
  • 9.4.2 Financial Performance
  • 9.4.3 Product Outlook
  • 9.4.4 Key Developments
• 9.5 Safran Group
  • 9.5.1 Overview
  • 9.5.2 Financial Performance
  • 9.5.3 Product Outlook
  • 9.5.4 Key Developments
• 9.6 Woodward, Inc.
  • 9.6.1 Overview
  • 9.6.2 Financial Performance
  • 9.6.3 Product Outlook
  • 9.6.4 Key Developments
• 9.7 Engineered Propulsion System
  • 9.7.1 Overview
  • 9.7.2 Financial Performance
  • 9.7.3 Product Outlook
  • 9.7.4 Key Developments
• 9.8 Eaton Corporation PLC
  • 9.8.1 Overview
  • 9.8.2 Financial Performance
  • 9.8.3 Product Outlook
  • 9.8.4 Key Developments
• 9.9 Aequs
  • 9.9.1 Overview
  • 9.9.2 Financial Performance
  • 9.9.3 Product Outlook
  • 9.9.4 Key Developments
• 9.10 GE Aviation
  • 9.10.1 Overview
  • 9.10.2 Financial Performance
  • 9.10.3 Product Outlook
  • 9.10.4 Key Developments

10 Appendix

• 10.1 Related Research