Europe Aerospace Parts Manufacturing Market Size & Outlook
Europe aerospace parts manufacturing market, 2018-2030 (US$M)
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Europe aerospace parts manufacturing market highlights
- The Europe aerospace parts manufacturing market generated a revenue of USD 273,948.1 million in 2022.
- The market is expected to grow at a CAGR of 5% 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, Germany is expected to register the highest CAGR from 2023 to 2030.
Europe data book summary
| Market revenue in 2022 | USD 273,948.1 million |
| Market revenue in 2030 | USD 403,792.5 million |
| Growth rate | 5% (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, Europe region accounted for 30.5% 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 45.99% in 2022. Horizon Databook has segmented the Europe 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.
Air traffic in Europe is estimated to recover at a significant pace in 2022. The declining prices of airfares is expected to encourage a greater number of passengers to travel by air, boosting the demand for commercial aircraft by airlines, to accommodate increasing number of passengers.
The European region is accustomed to using a lighter and stronger category of aircraft which is expected to drive the demand for part made-up of lightweight, high strength and cost efficient material over the forecast period. The growth of the European aerospace and defense industry is expected to surpass that of the industry in the U.S. over the forecast period, owing to a slight increase in defense spending by some European countries, such as Russia, Italy.
The industry has experienced improved performance against the backdrop of economic slowdown and uncertainties in recent years. However, the European industry is highly concentrated in nature on account of the major players accounting for a large market share.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe aerospace parts manufacturing market size, by country, 2018-2030 (US$M)
Europe Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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