Aerospace Parts Manufacturing Market Segmentation:
Product Segment Analysis
Aircraft manufacturing segment is predicted to capture around 51.4% aerospace parts manufacturing market share by the end of 2035. Significant growth in the revenue share is driven by the manufacturing of complete aircraft including engines, wings, airframes, and various integral components. In addition, this segment covers the creation of aircraft prototypes, major modifications to existing aircraft, and overhauls and rebuilds of entire aircraft.
A recent report published by the U.S. Government Accountability Office in March 2024 states that since 2020, air travel has increased, which has raised the demand for new aircraft and parts for existing fleets among airlines. Additionally, the construction and assembly of civil aircraft, including big commercial aircraft, business jets, and regional aircraft, is known as aircraft manufacturing. Growth in this sector will fuel the customized avionic systems value in the near future.
End user Segment Analysis
The commercial aviation segment in the aerospace parts manufacturing market is expected to be the fastest-growing segment with a staggering CAGR during the forecast period. The production of parts intended specifically for use in commercial aircraft is referred to as the commercial segment in the aerospace parts manufacturing industry. This covers the production of parts for commercial aircraft, including passenger and cargo aircraft. Airbus in 2024 published a report predicting about 42,000 new aircraft deliveries by the next 20 years. Furthermore, commercial aircraft and its parts are expected to grow as a result of better international trade relations leading to a rise in the demand for cargo services.
Our in-depth analysis of the aerospace parts manufacturing market includes the following segments:
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