U.S. Aerospace Parts Manufacturing Market Size & Outlook
U.S. aerospace parts manufacturing market, 2018-2030 (US$M)
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U.S. aerospace parts manufacturing market highlights
- The U.S. aerospace parts manufacturing market generated a revenue of USD 417,365.4 million in 2022 and is expected to reach USD 476,002.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 1.7% 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 417,365.4 million |
| Market revenue in 2030 | USD 476,002.2 million |
| Growth rate | 1.7% (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, U.S. accounted for 46.4% 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 North America, U.S. aerospace parts manufacturing market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 24,752.9 million by 2030.
Aircrafts manufacturing was the largest segment with a revenue share of 58.41% in 2022. Horizon Databook has segmented the U.S. 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 U.S. aerospace parts manufacturing industry dominates the global market owing to the presence of established players such as Boeing, United Technologies, Lockheed Martin, etc. increased passenger transportation is expected to drive the manufacturing of aircraft parts in the US.
However, the market has exhibited major decrease in growth owing to the overall decline in air passengers and restriction imposed by the government during coronavirus crisis. Rising demand for aircraft parts sourced from the U.S. including wings, fasteners, fuselages on the account of assurance of airworthiness strong legacy and technological ability to produce high quality products which is expected to drive the demand for aerospace materials 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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U.S. aerospace parts manufacturing market size, by product, 2018-2030 (US$M)
U.S. Aerospace Parts Manufacturing Market Outlook Share, 2022 & 2030 (US$M)
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