Global Aerospace Parts Manufacturing Market Size & Outlook
Global aerospace parts manufacturing market, 2018-2030 (US$M)
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Global aerospace parts manufacturing market highlights
- The global aerospace parts manufacturing market generated a revenue of USD 899,477.3 million in 2022 and is expected to reach USD 1,233,241.4 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 4% by 2030.
- In terms of segment, aircrafts manufacturing accounted for a revenue of USD 463,317.1 million in 2022.
- Equipment, Safety & Support is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2022.
- Country-wise, U.S. is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 899,477.3 million |
| Market revenue in 2030 | USD 1,233,241.4 million |
| Growth rate | 4% (CAGR from 2022 to 2030) |
| Largest segment | Aircrafts manufacturing |
| Fastest growing segment | Equipment, Safety & Support |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Engine, Aircrafts Manufacturing, Cabin Interiors, Equipment, Safety & Support, Avionics, Insulation Components |
Other key industry trends
- In terms of revenue, the North America accounted for 50.5% of the global aerospace parts manufacturing market in 2022.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 476,002.2 million by 2030.
Aircrafts manufacturing was the largest segment with a revenue share of 51.51% in 2022. Horizon Databook has segmented the Global aerospace parts manufacturing market based on engine, aircrafts manufacturing, cabin interiors, equipment, safety & support, avionics, insulation components covering the revenue growth of each sub-segment from 2018 to 2030.
Aviation is carbon intensive and one of the fastest growing sectors in terms of greenhouse emissions. Increasing demand for air transportation and decreasing marginal fuel efficiency are likely to put pressure on aerospace industry to reduce the greenhouse emissions.
Taxes imposed by European Union Emissions Trading System depend upon various factors including unit carbon emissions per aircraft, aviation emission allowances per airline, and carbon trading prices, which may lead to increased transportation costs for airlines. The possibility of hefty taxes is anticipated to encourage the airlines to replace their aging aircraft with new generation fuel-efficient aircraft.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global aerospace parts manufacturing market size, by regions, 2018-2030 (US$M)
Top 10 countries: Aerospace parts manufacturing market size, 2022 (US$M)
Global aerospace parts manufacturing market share, by product, 2022 & 2030 (%, US$M)
Aerospace parts manufacturing market: Opportunity assessment by country
Global aerospace parts manufacturing market, by region, 2022 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 450,243.2 | 458,816.5 | 379,632.6 | 436,324.8 | 453,820.7 | 462,395.8 | 471,214.8 | 480,299.2 | 489,768.7 | 499,640.5 | 509,925.6 | 520,671.8 | 531,913.4 | 2.0% |
| Europe | 264,845.2 | 277,413.5 | 224,978.1 | 254,577.1 | 273,948.1 | 286,543.2 | 300,292.8 | 314,959.6 | 330,611.7 | 347,280.9 | 364,951.8 | 383,765.0 | 403,792.5 | 5.0% |
| Asia Pacific | 141,543.9 | 149,553.0 | 122,899.9 | 141,007.7 | 151,218.1 | 160,955.1 | 171,717.9 | 183,645.1 | 196,837.5 | 211,351.1 | 227,476.7 | 245,340.7 | 265,199.5 | 7.3% |
| Latin America | 12,064.1 | 12,820.7 | 10,829.3 | 11,608.7 | 12,070.6 | 12,786.1 | 13,596.2 | 14,471.4 | 15,421.5 | 16,452.8 | 17,551.8 | 18,738.1 | 20,015.7 | 6.5% |
| MEA | 8,241.1 | 8,596.3 | 6,842.4 | 8,010.8 | 8,419.9 | 8,809.2 | 9,226.2 | 9,670.3 | 10,143.3 | 10,647.4 | 11,174.0 | 11,731.6 | 12,320.2 | 4.9% |
| Overall | 876,937.4 | 907,200.1 | 745,182.3 | 851,529.0 | 899,477.3 | 931,489.4 | 966,047.9 | 1,003,045.5 | 1,042,782.7 | 1,085,372.7 | 1,131,079.9 | 1,180,247.2 | 1,233,241.3 | 4.0% |
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