Aerospace & Defense C-class Parts Market Analysis

Aerospace & Defense C-class Parts Market Analysis

The fasteners segment will dominate more than 50% of the market share by 2027 on account of it plays a critical role in defining longevity, structural integrity, and design in the aerospace industry. Different types of fasteners including bolts, nuts, rivets, screws, springs, valves, and washers are slated to form the basic requirement for aircraft production, broadly contributing to the largest revenue share over the forecast period. To introduce powerful & energy-efficient products in the aerospace defense segment, the demand for aerospace fasteners will be evolved to meet the stringent industrial standards and performance quality. Thus, standard fasteners in aerospace & defense C-class parts will observe a strong demand in the range of applications in commercial, shipping, military, business, etc., during the forecast period.

The aerospace airframe segment in the aerospace & defense C-class parts market will reach USD 8.49 billion by 2027 owing to rising production rates of major projects, such as B787, A320 family, and A350XWB, driving the demand for lightweight c-class parts and global commercial aircraft fleet across developed regions. Moreover, the launch of new airlines and service extension of the existing airlines will definitely contribute to the market share. This growth in the airframe sector is projected to surge product demand in the next few years.

The aftermarket segment will account for USD 11.41 billion by 2027. Remodeling and replacement of old aircraft can expand and diversify the demand for aftermarket by introducing fleet management and line planning and adapting to new aircraft. In the long term, it is observed that an increase in the number of MRO facilities will propel the growth of commercial and defense aircraft aftermarkets.
 

The commercial segment dominated more than 50% of the market share in 2020 and is set to showcase 4.8% growth rate through 2027 impelled by the increasing air passenger traffic, lower air fares, and proliferating tourism & travel industry. Replacements of older parts and newer aircraft orders will positively influence the industry expansion during the forecast period. Creating new geographical routes requires new aircraft facilities, further augmenting the industry progression during the forecast timeframe.
 

North America aerospace & defense C-class parts market captured over 45% of revenue share in 2020 and is predicted to expand at a CAGR of more than 4.8% between 2021 to 2027 led by the U.S. is the global leader in large civil aircraft production and offers many opportunities. Market leaders are introducing innovative& efficient solutions to maintain aircraft traffic demand. Additionally, increasing defense activities and several upcoming consignments will proliferate the industry share. Furthermore, huge investments for new aircraft designing and manufacturing in the U.S. will boost the market demand. The region is expected to grow in the upcoming years as it offers robust aerospace supply chain with capabilities in MRO, avionics, testing equipment, etc. bearing