Asia Pacific Aerospace Parts Manufacturing Market Size & Outlook
Asia Pacific aerospace parts manufacturing market, 2018-2030 (US$M)
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Asia Pacific aerospace parts manufacturing market highlights
- The Asia Pacific aerospace parts manufacturing market generated a revenue of USD 151,218.1 million in 2022.
- The market is expected to grow at a CAGR of 7.3% from 2023 to 2030.
- In terms of segment, aircrafts manufacturing was the largest revenue generating product in 2022.
- Avionics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Philippines is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 151,218.1 million |
| Market revenue in 2030 | USD 265,199.5 million |
| Growth rate | 7.3% (CAGR from 2022 to 2030) |
| Largest segment | Aircrafts manufacturing |
| Fastest growing segment | Avionics |
| 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 |
| Key market players worldwide | Rolls-Royce Holdings PLC, Safran SA, Woodward Inc, Martinrea International Inc, Eaton Corp PLC, Lockheed Martin Corp, GE Aerospace, MTU Aero Engines AG, RTX Corp, Honeywell International Inc, Mitsubishi Electric Corp, Kawasaki Heavy Industries Ltd, Subaru Corp, IHI Corp, Deutsche Lufthansa AG, Liebherr Group, Hexcel Corp, Ducommun Inc, Rockwell Automation Inc, Spirit AeroSystems Holdings Inc Class A, Panasonic Holdings Corp, Thales, Dassault Systemes SE, Parker Hannifin Corp, Basf SE, Airbus SE, Danaher Corp, Triumph Group Inc, Curtiss-Wright Corp, Magellan Aerospace Corp, Bridgestone Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 16.8% of the global aerospace parts manufacturing market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 265,199.5 million by 2030.
Aircrafts manufacturing was the largest segment with a revenue share of 46.51% in 2022. Horizon Databook has segmented the Asia Pacific 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.
The Asia Pacific region is estimated to be the fastest growing market for aerospace parts manufacturing industry due to growing development in the aviation industry in the region driven by the economic growth of Japan, China and other markets.
There is a rise in the international air travel along with growing market for international cargo which is expected to drive the demand for MRO activities, thereby boosting the demand for aircraft parts stop moreover there is a development in the aviation industry with manufacturers adopting the dynamic business models that reshape the market with the purchase of new generation of airplanes and replacing the aging aircraft. The rapid expansion is the main driver contributing to the air travel growth.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific aerospace parts manufacturing market size, by country, 2018-2030 (US$M)
Asia Pacific Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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