Aerospace & Defense C-class Parts Market Size By Component (Fasteners, Bearings, Electrical, Machined Parts), By Application/Work Package (Airframe, System, Engine, Interiors), By Distribution Channel (OEM, Aftermarkets), By End User (Commercial, Military & Defense, Spacecrafts), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Singapore, Brazil, Saudi Arabia, UAE, South Africa, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Aerospace & Defense C-class Parts Market will exceed USD 14.4 billion by 2025; according to a new research report.
Growing demand for commercial aircrafts in emerging economies, owing to rise in air travel will make notable contribution to the aerospace & defense C-class parts market in the forthcoming years. According to the Boeing’s Pilot & Technician Outlook 2019, the world will need approximately 44,000 new airplanes in the next 20 years, of which Asia Pacific will account for over 39% i.e. over 17,000 airplanes. C-class parts in aerospace & defense sector are considered as the low cost components which are available in bulk volume and are usually replaced when damaged. Some of these components are fasteners, bearings etc. which are generally used in the aircraft body in the control surfaces, wings, electrical panels, etc.
Growing use of adhesives instead of mechanical fasteners in aerospace and defense industry is anticipated to be the major deterrent factor for the overall market size by 2025. Adhesives are rapidly substituting the traditional mechanical fasteners such as rivets, bolts, and other mechanical fasteners due to their weight reduction effect. Moreover, such small parts and consumables can be replaced with polymers and composites materials in the forthcoming years. Polymers and composites are light in weight and have possess similar qualities to that of metal counterparts.
Among the components, fasteners captured the share of over 50% in the aerospace & defense C-class parts market in 2018. This segment is likely to witness gains due to its increasing acceptance in fabrication and aircraft assembly operations. Additionally, rising aircraft manufacturing owing to fast-tracked replacement cycle of obsolete aircrafts with next generation fuel efficient aircrafts will also make subsequent positive impact on the overall business size by 2025.
Airframe application segment is projected to witness gains of more than 4.5% by 2025. It is majorly attributed to the considerable employment of C class parts in airframe which includes critical elements of aircrafts such as fuselage, empennage, undercarriage, and wings.
Distribution channel of aerospace & defense C-class parts market mainly includes OEM and aftermarket, out of which, the latter is expected to attain a share of over 70% by 2025. Aftermarket mainly includes market for accessories, spare parts and components all together. Rising necessity for timely maintenance, repair and overhaul (MRO) services will boost the development of the aircraft aftermarket c-class parts market over the forecast period.
Among the various end users of aerospace & defense C-class parts, commercial segment is expected to take over a share of over 55% till 2025. Key factors behind the development of this segment will be the lower air fares, increasing air passenger traffic, and bourgeoning tourism & travel industry. Air passenger traffic is propelling on account of fastest mode of transportation, increasing per capita income of middle class in emerging nations coupled with impact of globalization which has led to an increase in the number of trips for business and leisure.
Asia Pacific will occupy a share of over 17% in the aerospace & defense C-class parts in the forecast period. This region occupies a major chunk of the global population, along with thriving middle class income, which will trigger air traffic spending in the coming years. Furthermore, high government as well as private spending in airport construction segment will improve its infrastructure throughout the landmass and will promote trade activities. These trends will drive the overall product demand in the upcoming years.
Aerospace & defense C-class parts market is vastly dominated in term of manufacturing technology by North America and Europe, followed by Asia Pacific. Some of the leading players in the industry are Arconic Inc., Amphenol Corporation, Eaton Corporation, Trimas Corporation, Satcom Direct, LiSi Aerospace, SKF, LMI Aerospace Inc., Safran SA, Triumph Group and several others.
Aerospace & defense C-class parts market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2014 to 2025, for the following segments:
Aerospace & Defense C-Class Parts Market, By Family/Component
Aerospace & Defense C-Class Parts Market, By Applications
Aerospace & Defense C-Class Parts Market, By Distribution Channel
Aerospace & Defense C-Class Parts Market, By End-User
Military & Defense
The above information is provided on a regional and country basis for the following:
Middle East & Africa
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