Aerospace Parts Manufacturing Market Size

Aerospace Parts Manufacturing Market size was valued at USD 1.4 billion in 2023 and is set to reach USD 2.4 billion by the end of 2036, expanding at around 4.5% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of aerospace parts manufacturing is estimated at USD 1.5 billion.

The aerospace parts manufacturing market growth is driven by the global demand for satellite-based services in applications such as defense, navigation, communication, and earth observation. The market’s growth prospects are marked by strategic initiatives that cater to growing satellite demand. For instance, the Asia Pacific Satellite Communications Council (APSCC) in December 2023 announced the partnership of Thai Aerospace Industries (TAI) and Rivada Space Networks for a secure and reliable connectivity service in military, commercial, and general aviation. Additionally, this increased demand drives the revenue share for aerospace companies such as Stanley Black & Decker Inc., and Boeing engaged in satellite manufacturing and associated technologies.

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of the aerospace parts manufacturing market was USD 1.4 billion.

The market size of the aerospace parts manufacturing landscape is projected to cross USD 2.4 billion by the end of 2036 expanding at a CAGR of 4.5% during the forecast period i.e., between 2024-2036.

The major players in the market are Elbit Systems Ltd., Intrex Aerospace, Rolls Royce plc, CAMAR Aircraft Parts Company, Safran Group, Woodward, Inc., Engineered Propulsion System, Eaton Corporation plc, Aequs, and others.

In terms of product, the aircraft manufacturing segment is anticipated to garner the largest market share of 51.4% by 2036 and display substantial growth opportunities during 2024-2036.

The market in the North America is projected to hold the largest revenue share of 52.9% by the end of 2036 and provide more business opportunities in the future.

Aerospace Parts Manufacturing Market Size