Philippines Aerospace Parts Manufacturing Market Size & Outlook
Philippines aerospace parts manufacturing market, 2018-2030 (US$M)
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Philippines aerospace parts manufacturing market highlights
- The Philippines aerospace parts manufacturing market generated a revenue of USD 1,556.9 million in 2022 and is expected to reach USD 3,874.7 million by 2030.
- The Philippines market is expected to grow at a CAGR of 12.1% from 2023 to 2030.
- In terms of segment, engine 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 1,556.9 million |
| Market revenue in 2030 | USD 3,874.7 million |
| Growth rate | 12.1% (CAGR from 2022 to 2030) |
| Largest segment | Engine |
| 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, Philippines accounted for 0.2% 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.
Engine was the largest segment with a revenue share of 28.48% in 2022. Horizon Databook has segmented the Philippines 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 transport sector makes a major contribution to the Philippines economy. The jobs and spending generated by national airlines and this supply chain, the flows of trade, tourism and investment for users of all airlines and the city pairs connections that make these flaws possible are the major factors supporting the country’s economy.
Philippines aerospace industry is majorly focused on uplifting its MRO industry and has a robust production base for aerospace components and parts. The Philippines aerospace parts manufacturing market is estimated to struggle in the forecast period for the recovery from the loss of COVID-19 pandemic crisis.
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Aerospace Parts Manufacturing Market Scope
Aerospace Parts Manufacturing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Philippines aerospace parts manufacturing market size, by product, 2018-2030 (US$M)
Philippines Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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