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, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Aug 2019  |  Report ID: GMI3079  |  Authors: Kiran Pulidindi, Hemant Pandey

Report Format: PDF   |   Pages: 246   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Aerospace & Defense C-class Parts Market size exceeded USD 10 billion in 2018 and will grow at around 4.5% CAGR from 2019 to 2025.

Aerospace & Defense C-class Parts Market

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Increasing demand for commercial aircrafts in the developing regions will primarily drive aerospace & defense C-class parts market over the forecast timeframe. C-class parts are used in a variety of applications such as commercial & defense aircrafts, aircrafts engine assemblies, helicopters, missiles & defense systems, spacecrafts etc. These are small and consumables parts which have significant importance in the assembly stage of an aircraft. According to Boeing estimates, the Boeing 747 employs over six million parts, out of which half of them are fasteners. Growing applicability of the product as a result of rising airline passengers’ traffic is subsequently, driving demand for the market.

Introduction of private space research and exploration companies such as SpaceX, Blue Origin, Virgin Galactic has created lucrative opportunities in the space search & exploration sector. This has increased consumption of fasteners in the region. Recently, between 2018 and 2019 Indian space research organization, ISRO, launched 11 mission including one lunar exploration mission. Most of these organizations are government owned and government are increasing their spending on space missions such as launch of satellite, manned space missions, etc. As per the date global spending on space missions progressed by 6% in 2017, as compared to the 2016 reaching total of USD 14.6 billion. The growing possible industry of space research coupled with new space race by private companies will drive demands for aerospace & defense C-class parts market in space research & exploration sector.

Aerospace & Defense C-class Parts Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 10 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 4.5% 2025 Value Projection: 14 Billion (USD)
Pages: 246 Tables, Charts & Figures: 278
Geographies covered (17): U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Singapore, Brazil, Saudi Arabia, UAE, South Africa, Kuwait
Segments covered: Component, Application/Work Package, Distribution Channel, End User and Region
Companies covered (15): Amphenol Corporation, Precision Castparts Corporation, Arconic Inc., Eaton Corp., RBC Bearings Incorporated, Stanley Black & Decker, Inc., Trimas Corporation, National Aerospace Fasteners Corporation, LiSi Airspace, NTN Corporation, Triumph Group, Inc., Safran SA, SKF Bearings, West Coast Airspace, TE Connectivity Ltd.
Growth Drivers:
  • Increasing defense expenditure by major economies
  • Growth in aerospace industry
Pitfalls & Challenges:
  • Adhesives replacing mechanical fasteners

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Aerospace & Defense C-class Parts Market, By Component

The aerospace & defense C-class parts market is segmented on the basis of component into fasteners, bearings, electrical and machined. In 2018, fasteners segment represented the largest revenue share for around 50% in the overall market. It primarily includes screws, bolts, pins, rivets, nuts, rings, studs, washers, inserts and other small mechanical component that used for affixing and joining two or more parts. This large market share can be attributed to huge scope and high consumption in aerospace & defence applications. Fasteners component will foresee accelerating growth due to rise in demand of low-cost carriers across the world.

Electrical segment includes connectors, switches, cables, sleeving, terminals, contact, etc. This segment accounted for over 10% share in 2018 owing to its growing importance in functioning of aircrafts and defence systems. Electrical components are used in flight control, landing gears, interiors, control systems. Demand for new generation and advanced aircrafts for military and commercial application will propel the market demand for electrical segment.

Aerospace & Defense C-class Parts Market, By Application

Aerospace & defense C-class parts market is divided on the basis of applications into airframe, system, engines and interiors. Airframe segment held a largest market share of over 50% of market revenue in 2018. It includes the fuselage, undercarriage, empennage, wings etc. Large demand share for airframe applications is mainly due to indispensable usage of fasteners in large quantity. These fastening products are used to transfer the load from one part to another. Fasteners are widely used in airframe application, growing demand for innovative airframe structures will propel the market demand during forecast timespan.

Apart from engine, the other application areas that seeks maximum market share of aerospace & defense C-class parts are systems. Systems includes flight control, landing gear, cooling and heating, avionics, etc. These sub-systems play crucial role in the functioning of an aircraft and C-class parts has huge applicability in such systems. In 2018, system segment generated more than USD 1.5 billion. Engine is another segment that will witness substantial growth during forecast period due to replacement of old aircrafts and development of new fuel-efficient engines. Application of C-class parts in engine is deemed very crucial due to unique requirement of properties for such extreme application.

Aerospace & Defense C-class Parts Market, By Distribution Channel

Global aerospace & defense C-class parts market is categorized on the basis of distribution channel OEM and aftermarkets. Original equipment manufacturer held a share of around 30% in the overall market. This is due to extensiveness of mergers and acquisition prevailing among aircraft manufacturers and component manufacturers. This allow companies to expand its product portfolio and increase their market share.

Aftermarket is the market for spare parts, accessories, and components all together. This segment held around 70% market share in 2018. This is primarily due to MROs are much more flexible and they can expand &diversify their product portfolio according to airlines wants & needs. They can provide more extensive support to customers such as line planning, fleet management and adapting to new aircraft types.

Aerospace & Defense C-class Parts Market, By End User

The end-user segment consists of commercial, military & defense, spacecrafts and others. In 2018, commercial segment accounted for more than 55% of total revenue. This is mainly attributed to rise in air passenger traffic couple with lower air fares. Additionally, rapidly growing tourism industry and increasing number of intercontinental flights shall positively drive the growth of commercial segment in coming years. Increasing demand of single aisle jets all over the world will augment the aerospace & defense C-class parts market demand.

Aerospace & Defense C-class Parts Market, By Region

Global aerospace & defense C-class parts industry size by region

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Aerospace & defense C-class parts market is dominated by North America and Europe followed by Asia pacific. North America accounted for 45% market share in the market. North America has major aircraft and engine manufacturers such as Boeing, Lockheed Martin, United Technologies, GE Aviation, Raytheon and Northrop Grumman. Increased U.S. defense spending coupled with pending backlogs are expected to provide strong growth prospects over the next few years.

European aerospace market remains strong, although several companies have faced operational setbacks. However, increased defense spending by a number of European governments and the European Defense fund to support revenue growth will propel demand. Asia Pacific aerospace & defense C-class parts market held a significant share of 19% in 2018 and it will have strong growth in coming years. This region is home for majority of world population and also their improving real income boosted air traffic. Rising investments in infrastructure development in the fast-developing economies of China, India, Japan, Australia, and South Korea will have a significant influence on the regional market growth during forecast period.

Competitive Market Share

Notable industry players operating in the aerospace & defense C-class parts market are Amphenol Corporation, Precision Castparts Corporation, Arconic Inc., Eaton Corporation, RCB Bearings Incorporated, Stanley Black & Decker Inc., Trimas Corporation, LiSi Aerospace, Satcom Direct, NTN Corporation, Triumph Group, Safran SA, SKF, LMI Aerospace Inc., National Aerospace Fasteners Corporation. Players continuously engage themselves in mergers & acquisitions, collaborations, and supply agreements, in order to expand their market share and gain competitive advantage over competitors.

Industry Background

Aerospace industry is one of the most powerful industries in the world and it had substantial impact on the growth of society at large. It encloses worldwide network of manufacturers who produces airplanes, helicopters, commercial & military aircraft, missiles, rockets, satellites and spacecrafts. These manufacturers depend on vast number of supplier firms that produces variety of products such as avionic, sub-systems, C-class parts, etc. to produce final product. Aerospace industry has grown dramatically in past 20 years with passenger number rising from 1.4 billion in 1998 to 4.1 billion in 2018. Rise in number of passengers coupled with increased level of income will further boost aerospace & defense C-class parts market revenue by 2025.

Frequently Asked Questions (FAQ) :

The market size of aerospace & defense C-class parts exceeded USD 10 billion in 2018.
The industry share of aerospace & defense C-class parts will grow at around 4.5% CAGR from 2019 to 2025.
Features like rapid expansion of aerospace sector and rising defense expenditure of developed as well as developing economies are fueling the demand for C-Class parts.
Fasteners, which includes mechanical components like bolts, screws, rivets, pins, rings, nuts, washers, studs and inserts, are essentially significant in the aerospace and defense industry.
The commercial aerospace sector is witnessing exponential growth owing to lower airfares and increasing air passenger traffic, further fueling the demand for new aircraft and C-class components.
Presence of prominent aircraft manufacturers like Lockheed Martin, Boeing, GE Aviation, United Technologies, Northrop Grumman and Raytheon makes North America a lucrative revenue ground for C-Class component manufacturers.

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Premium Report Details

  • Published Date: Aug 2019
  • Pages: 246
  • Tables: 245
  • Charts / Figures: 33
  • Companies covered: 15
  • Countries covered: 17

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