Aerospace parts manufacturing market Ready to Harness Global Industry Growth Trends
- shubham3872
- Oct 17
- 3 min read
Market Overview
The global aerospace parts manufacturing market size was valued at USD 969.62 billion in 2024, exhibiting a CAGR of 5.2% during 2025–2034.
The aerospace parts manufacturing market encompasses the production of airframe components, propulsion systems, avionics, landing gear, cabin interiors, and various mechanical and electrical subsystems for commercial, regional, business, and military aircraft. Key drivers include:
Fleet modernization and commercial air travel growth – Replacement of aging aircraft and increasing passenger numbers are driving demand for new components.
Defense procurement and modernization programs – Governments continue investing in upgraded military fleets, creating consistent demand for certified components.
Aftermarket and MRO demand – An expanding global fleet requires spares, repairs, and maintenance, creating recurring revenue streams.
Technology adoption – Advanced materials, additive manufacturing, digital twins, and automation are improving productivity, quality, and production speed.
Analysts forecast steady growth through the 2030s, driven by both replacement cycles and demand from emerging aerospace sectors.
Market Scope
Product Scope – Aerostructures, engines and engine components, landing gear, avionics and electrical systems, cabin interiors, and consumables/rotables.
End-User Scope – Commercial airlines, regional and business aviation, military platforms, and space launch programs.
Service Scope – Original equipment manufacturing (OEM), tiered supplier networks, contract manufacturing, aftermarket spares, and MRO support.
Technology Scope – Traditional machining and fabrication, composite layup and curing, additive manufacturing (metal/polymer), robotic automation, and digital manufacturing platforms.
Market Opportunities
Advanced Materials and Additive Manufacturing – Adoption of high-performance composites and metal additive manufacturing allows for lighter, fuel-efficient components and low-volume specialty production.
Aftermarket and MRO Growth – Aging fleets and rising flight hours boost demand for global maintenance and spare parts networks.
Regional Manufacturing Hubs – Investments in aerospace clusters in Asia, Africa, and Eastern Europe create opportunities for local suppliers and contract manufacturers.
Defense and Dual-Use Applications – Rising military budgets and upgrade requirements drive consistent demand for certified components.
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Regional Analysis
North America – The largest market due to established supply chains, major production facilities, and high defense spending. Strong adoption of advanced manufacturing and R&D supports high-value components.
Europe – Renowned for high-quality aerostructure and engine manufacturing with rigorous certification frameworks. The region remains a hub for advanced systems and high-value production.
Asia-Pacific & Middle East – Fastest-growing air travel markets with government incentives for aerospace manufacturing. Investments in local MRO and production facilities are attracting significant attention.
Latin America & Africa – Emerging markets offering cost advantages for subassemblies and labor-intensive production, with growth contingent on strategic investments and skill development.
List of Key Companies
Ducommun Inc.
Eaton Corporation plc
GE Aviation
IHI Corp.
Kawasaki Heavy Industries Ltd.
Mitsubishi Heavy Industries, Ltd.
Rolls Royce plc
Conclusion
The Aerospace Parts Manufacturing market is structurally strong, supported by long-term drivers such as fleet renewal, defense modernization, aftermarket growth, and the expansion of regional manufacturing hubs. Companies that embrace advanced technologies, digitalized production, and regional diversification are well-positioned to benefit from the increasing global demand for aerospace components over the next decade.
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