Global Aerospace Parts Manufacturing Market Size & Insights

The  Aerospace Parts Manufacturing Market size was valued at around USD 936 billion in 2024 and is projected to reach USD 1,200 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 4% during the forecast period, i.e., 2025-30. The main reason behind this growth is the increasing number of new planes. As new planes are manufactured, they also create a high demand for various parts that are to be used in them. For instance, Airbus delivered 61 commercial jets in April 2024 whereas this number was 54 in the same month of 2023.

What are the Key DROs in the Global Aerospace Parts Manufacturing Market??

Increasing Air Travel – The number of people traveling by plane is continuously growing, mainly in emerging countries such as India, China, Brazil, etc. For instance, the number of passengers traveling in a single day through flights in India has crossed half a million number for the first time in November 2024, and that too in the non-festive season. To meet the increasing demand for air travel and stay competitive, the airline industry has to increase the number of commercial aircraft in their service. As a result, it creates a high demand for various parts that are used in the manufacturing of aircraft such as engines, communication & navigation devices, etc. For instance;

• SpiceJet will add 10 new commercial planes to its service by the end of 2024.

Moreover, increasing air travel correlates to the high flying time of planes, as a result, the need for regular aircraft checkups and repairs also increases which further increases the demand for aircraft parts. Therefore, due to the increasing air travel, the demand for plane parts has increased over time, and this trend is expected to continue in the coming years as well.

What are the Key Segments in the Global Aerospace Parts Manufacturing Market?

The Aerospace Parts Manufacturing Market is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• By Product
  • Engine- Market Size & Forecast 2020-2030, USD Million
  • Aero structure- Market Size & Forecast 2020-2030, USD Million
  • Cabin Interiors- Market Size & Forecast 2020-2030, USD Million
  • Avionics- Market Size & Forecast 2020-2030, USD Million
  • Insulation Components- Market Size & Forecast 2020-2030, USD Million
  • Other Ancillary Equipment - Market Size & Forecast 2020-2030, USD Million
• By End User
  • Commercial Aircraft- Market Size & Forecast 2020-2030, USD Million
  • Business Aircraft- Market Size & Forecast 2020-2030, USD Million
  • Military Aircraft- Market Size & Forecast 2020-2030, USD Million
  • Space Rocket- Market Size & Forecast 2020-2030, USD Million
  • Others (Training Aircrafts, Satellite, etc.)- Market Size & Forecast 2020-2030, USD Million

Based on end user, commercial aircraft holds the largest market share around 51%.

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y Station Type

How does geographical analysis highlight in the Global Aerospace Parts Manufacturing market?

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Regionally, North America holds the major share of the market around 41%. 

Who are the Key Players in Global Aerospace Parts Manufacturing Market?

• Boeing
• Airbus
• Derco
• RTX
• Northrop Grumman
• General Electric Aerospace
• Honeywell
• Rolls Royce PLC
• Safran
• Thales Group
• Collins Aerospace
• L3Harris Technologies
• MTU Aero Engines
• Intrex Aerospace
• BAE Systems

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Global Swarm Drones Market News

• 2024: Lockheed Martin parent company of Derco expanded their production facility in Texas. This expansion aimed to increase the production of various reliable parts using 3D printing or additive manufacturing.

• 2024: Honeywell announced an investment of around USD 84 million for the expansion of its Kansas Aerospace Manufacturing Facility. This expansion aimed to develop its supply chain by increasing the production of next-generation avionics and printed circuit board assemblies.

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• Risk Identification: Pinpoint challenges to inform strategic planning.
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