China Aerospace Parts Manufacturing Market Size & Outlook
China aerospace parts manufacturing market, 2018-2030 (US$M)
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China aerospace parts manufacturing market highlights
- The China aerospace parts manufacturing market generated a revenue of USD 70,811.3 million in 2022 and is expected to reach USD 135,264.9 million by 2030.
- The China market is expected to grow at a CAGR of 8.4% 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.
Aerospace parts manufacturing market data book summary
| Market revenue in 2022 | USD 70,811.3 million |
| Market revenue in 2030 | USD 135,264.9 million |
| Growth rate | 8.4% (CAGR from 2022 to 2030) |
| Largest segment | Aircrafts manufacturing |
| Fastest growing segment | Avionics |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, China accounted for 7.9% of the global aerospace parts manufacturing market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China aerospace parts manufacturing market is projected to lead the regional market in terms of revenue in 2030.
- Philippines is the fastest growing regional market in Asia Pacific and is projected to reach USD 3,874.7 million by 2030.
Aircrafts manufacturing was the largest segment with a revenue share of 45.79% in 2022. Horizon Databook has segmented the China 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.
There is a huge demand for commercial and business aircrafts in China for the next 20 years owing to the robust demand in domestic and international travel. In addition, the economy is constituted with significant investments in infrastructure, evolving business models and growing middle class population.
The demand can also be contributed to the increased manufacturing of full service airlines and low cost carriers which is estimated to drive the demand for aerospace parts over the forecast. The single-aisle aircraft caters to the highest demand in the country with around 85% of the market share on account of growing number of middle income group people using air travels as an inexpensive option for transportation.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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China aerospace parts manufacturing market size, by product, 2018-2030 (US$M)
China Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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