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The global aircraft parts market was valued at US$ 537.04 Bn in 2019 and is expected to reach US$ 826.01 Bn by 2028 at a CAGR of 4.9% between 2021 and 2028.
Global Aircraft Parts Market, By Parts (Engines, Cabin Interiors, Fuselage, Empennage, Landing Gear, Wings and Flaps, and Propeller), By Material Type (Carbon Fibers, Composite Material, Steel Alloy, Aluminum Alloy, and Titanium Alloy), By Aircraft Type (Narrow Body aircraft, Wide-Body aircraft, and Turboprop aircraft), By Application (Commercial Aircraft, Business Aircraft, and Military Aircraft), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 537.04 billion in 2021 and is expected to exhibit a CAGR of 4.9% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Aircraft parts are essential to the operation of an aircraft. These components are manufactured using the most advanced technologies. The components used to build aircraft are categorized according to their functionalities. These parts must be corrosion resistant and flexible. They must also be durable and able to withstand the stresses of use and service. A number of manufacturers and dealers are offering the best-quality products.
Major players operating in the global aircraft parts market include – Airbus Group, Alcoa Corporation, Arconic Corporation, Boeing, Bombardier Inc., Collins Aerospace, Elbit Systems Ltd, Korea Aerospace Industries Co., Lockheed Martin Corporation, Teijin, and Triumph Group, Inc.
Increasing demand for aircraft parts is expected to propel growth of the global aircraft parts market over the forecast period. For instance, in December 2021, Korea Aerospace Industries Co. received a US$ 152 million deal to supply parts and maintenance services to the T-50 trainer jets operated by the Korean military.
Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:
North America (United States, Canada)
Asia Pacific ( China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
Globally, as of 5:51pm CET, 16 December 2021, there have been 271,376,643 confirmed cases of COVID-19, including 5,324,969 deaths, reported to WHO. As of 16 December 2021, a total of 8,337,664,456 vaccine doses have been administered. The pandemic has reduced public air traffic, which may impact the demand for new aircraft in civil aviation.
Get PDF Research Report Brochure – https://www.coherentmarketinsights.com/insight/request-pdf/4466
Some of the important questions answered in this report include:
What are the top five Aircraft Parts Market players?
What will the Aircraft Parts Market look like in the following years?
Which product and application will dominate the Aircraft Parts Market?
What are the Aircraft Parts Market’s drivers and restraints?
Which regional market will represent the highest growth?
What will be the CAGR and market size of the Aircraft Parts Market over the forecast period?
What is the present market size, what will it be in 2029, and what will be the growth rate?
What are the constraints to market growth?
What market opportunities and risks do the key companies face?
Who are the main competitors, and what is their strategic approach?
What are the market’s entry challenges for new players?
Market Scale and Segment Analysis:
Global Aircraft Parts Market, By Parts:
Global Aircraft Parts Market, By Material Type:
Global Aircraft Parts Market, By Aircraft Type:
Global Aircraft Parts Market, By Application:
What’s Included in the Report –
Global Aircraft Parts Market size and growth projections, 2020- 2029
Aircraft Parts Market size, share, and growth projections across regions and countries, 2022- 2029
Aircraft Parts Market size and CAGR of key products, applications, and end-user verticals, 2022- 2029
Short and long term Aircraft Parts Market trends, drivers, restraints, and opportunities
Porter’s Five forces analysis
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Coherent Market Insights is a global market intelligence and consulting organization, focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 32 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and start-ups looking to establish a foothold in the market. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele.
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The post Aircraft Parts Market Players Focus on Expanding Manufacturing Capabilities to Meet Demand – Airbus Group, Alcoa Corporation, Arconic Corporation, Boeing appeared first on Gatorledger.
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