North America Aerospace Parts Manufacturing Market Size & Outlook
North America aerospace parts manufacturing market, 2018-2030 (US$M)
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North America aerospace parts manufacturing market highlights
- The North America aerospace parts manufacturing market generated a revenue of USD 453,820.7 million in 2022.
- The market is expected to grow at a CAGR of 2% 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, Mexico is expected to register the highest CAGR from 2023 to 2030.
North America data book summary
| Market revenue in 2022 | USD 453,820.7 million |
| Market revenue in 2030 | USD 531,913.4 million |
| Growth rate | 2% (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, North America region accounted for 50.5% 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 57.22% in 2022. Horizon Databook has segmented the North America 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.
Aerospace parts manufacturing market is driven by the high demand commercial aircraft owing to rise in passenger transportation. Rising environmental concerns due to increased carbon emissions has led the demand for fuel efficient aircrafts. This, in turn, is expected to boost the manufacturing of aerospace parts using lightweight materials.
Moreover, the region is characterized by the presence of major aircraft manufacturers, such as Boeing, Northrop Grumman, United Technologies Corporation (UTC), and Lockheed Martin, which is anticipated to fuel the market growth over the forecast period.
North America exhibits presence of a large aircraft manufacturing industry. The region is expected to cater to around one-third of the global operational fleet, resulting in an increased demand for airframe and other aircraft parts over the forecast period. Ascending demand for new-generation aircraft is expected to boost the growth of aircraft manufacturing industry in the region 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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North America aerospace parts manufacturing market size, by country, 2018-2030 (US$M)
North America Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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