Press Release

Aerospace Parts Manufacturing Market to Reach USD1,200 Billion Mark by 2030

The Global Aerospace Parts Manufacturing Market size was valued at around USD936 billion in 2024 and is projected to reach USD1,200 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The increasing number of new planes that are coming into service is the main reason behind the growth of the market. This is because new planes use various parts such as engines, avionics, body parts, etc. For instance, in 2023, Boeing delivered a total of 528 planes and this number was 480 in the previous year.

Moreover, various countries are investing in improving their defense system. This increases the demand for fighter jets. As various countries do not manufacture them, they import jets from other countries. For instance, in 2024, Turkey transfers its first payment to the US for the deal of 40 new F-16 fighter jets. As a result, the aircraft parts suppliers use this opportunity to help those airline companies in meeting the production demand. Furthermore, there is a continuously increasing demand from various government and private agencies to launch their payloads such as satellites into space. This is done to enhance their offerings such as communication, navigation, etc. For instance, in 2024, after the incursion of Chinese aircraft into Japan’s boundary, Japan's Ministry of Defense intends to invest approximately USD2.2 billion in a satellite that can track multiple suspicious aircraft in real-time. As a result, the demand for aerospace parts used in rockets and satellites such as sensors, engines, aero structure, etc., also increases.

Additionally, there is a high focus of various airlines to reduce the weight of their aircraft. This is done to reduce the fuel consumption by the planes and also show their concerns towards a sustainable environment. As a result, various parts of the aircraft are made using light and strong metals such as titanium alloy, carbon fiber, etc. Furthermore, using 3D printing technology can provide a good growth opportunity as it’s a cheap and easy way to manufacture various air vehicles’ parts. Therefore, due to the high demand for aerospace vehicles from numerous agencies, there is a high demand for aerospace parts and this demand is expected to remain in coming years due to the requirement for lightweight and advanced parts, further states the research report, “Global Aerospace Parts Manufacturing Market Analysis, 2025.”

Global Aerospace Parts Manufacturing Market Segmentation Analysis

Engine Segment Holds the Largest Market Share

Based on the product, the market is further bifurcated into Engine, Aero Structure, Cabin Interiors, Avionics, Insulation Components, and Other Ancillary Equipment. The engines segment holds the major share of the market. This is because the engine is the most expensive part of an aircraft and consists of a very high quantity of smaller components. For instance, turboprop engines for large aircraft cost more than USD70,000 and go up to USD1.5 million each.

Moreover, the engine requires more frequent maintenance and repairs as compared to other segments. They need a checkup after almost every landing. Various parts such as blades, turbines, bolts, etc., are changed frequently to ensure the effective functioning of the jet engine as it goes through extreme conditions such as high temperature, pressure, and corrosion-prone environment. Therefore, due to the high cost of production of engines, and their requirement for most frequent repairs, make them the largest revenue generation segment for aerospace parts manufacturers.

North America Leads the Global Aerospace Parts Manufacturing Industry

Regionally, North America is the most prominent user of aerospace parts. This is because it is home to major aircraft and spacecraft manufacturers, which creates a high demand for various parts used in their production. Additionally, there is a very high proportion of people traveling through the flights as compared to other regions, which increases the number of airplanes in service. As a result, there is a high demand for aerospace parts in this region to ensure regular service and maintenance. For instance, in 2022, US airlines carried around 853 million passengers.

Moreover, the US produces the highest number of fighter jets for self-use and export to other countries. This further increases the demand for reliable parts. Therefore, due to the high production of aircraft in this region that is fueled by increasing air travel, North America leads the aerospace parts market and this trend is expected to continue in the future as well.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Boeing, Airbus, Derco, RTX, Northrop Grumman, General Electric Aerospace, Honeywell, Rolls Royce Plc, Safran, Thales Group, Collins Aerospace, L3Harris Technologies, MTU Aero Engines, Intrex Aerospace, BAE Systems, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have buying behavior, customer inclination, and expectations from products been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?