Middle East & Africa Aerospace Parts Manufacturing Market Size & Outlook
Middle East & Africa aerospace parts manufacturing market, 2018-2030 (US$M)
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MEA aerospace parts manufacturing market highlights
- The MEA aerospace parts manufacturing market generated a revenue of USD 8,419.9 million in 2022.
- The market is expected to grow at a CAGR of 4.9% from 2023 to 2030.
- In terms of segment, insulation components was the largest revenue generating product in 2022.
- Equipment, Safety & Support is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 8,419.9 million |
| Market revenue in 2030 | USD 12,320.2 million |
| Growth rate | 4.9% (CAGR from 2022 to 2030) |
| Largest segment | Insulation components |
| 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 |
| 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, MEA region accounted for 0.9% 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.
Insulation components was the largest segment with a revenue share of 23.38% in 2022. Horizon Databook has segmented the Middle East & Africa 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 gulf region has a major advantage of raw materials for manufacturers to establish global manufacturing hubs in the area. Bahrain has the largest single site aluminum smelter in the world, largest single site steel mill in the world, and has one of the top ten fiberglass production plants worldwide. Middle East & Africa aerospace parts manufacturing market estimates and forecasts, 2018-2030.
This creates major opportunity for companies to establish further downstream. The demand for aerospace parts is expected to grow owing to the rapid growth in aviation industry. There is development of new policies and initiatives which is driving the positive changes in the aerospace landscape, thereby increasing the market demand over the forecast period.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa aerospace parts manufacturing market
Middle East & Africa Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
Middle East & Africa aerospace parts manufacturing market
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