Aircraft Machined Components Market is Forecasted to Reach US$ 43.7 Billion in 2028, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global aircraft machined components market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2022: US$ 27.52 billion

Market Size in 2028: US$ 43.7 billion

Growth (CAGR): 6.8% during 2023-2028

Cumulative Sales Opportunity 2023 to 2028: US$ 230.63 billion

Leading Component Type: Milled Parts

Leading Aircraft Type: Commercial Aircraft

Leading Material Type: Aluminum

Leading Application Type: Engine

Leading End-User Type: OE

Leading Region: North America

Forecast Period: 2023-2028

Trend Period: 2017-2021

Base Year: 2022

Number of Segments Covered: 6

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Aircraft Machined Components Market:

The global aircraft machined components market is segmented based on component type, aircraft type, application type, material type, end-user type, and region.

Based on component type –

·        The market is segmented into milled parts, turned parts, and others. 

·        Among these component types, milled parts are expected to maintain their market dominance over the next five years. Advancements in the milling processes to offer excellent benefits, such as finishing accuracy, increasing uniformity in design, lead time reduction, and ease in manufacturing complex parts, help the process better position itself in the market.

Based on aircraft type –

·        The market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. 

·        Despite taking a nosedive in 2020, commercial aircraft is expected to remain the largest and fastest-growing segment of the market during the forecast period. Returning in service of the B737Max, the entry of new programs (C919, B777x, and MC-21), and the expected recovery in the production rates of the A320 and B737 programs are likely to fuel the segment’s growth.

Based on Application type –

·        The market is segmented into metal airframes, engines, landing gear, and others. 

·        Among these application types, the engine is expected to remain the most dominant segment of the market, during the forecast period. Some of the major machined engine components are compressor shafts, impellers, turbine blisks, turbine blades, thrust fittings, fan casings, combustion casings, fuel nozzles, turbine diffusers, and pylon brackets. As these engine components are of paramount importance in an aircraft, it is also expected that the segment will witness the fastest growth in the years to come.

Based on material type –

·        The market is segmented into aluminum, stainless steel, titanium, and other metals & alloys. 

·        Among these material types, aluminum is expected to remain the most dominant material type in the market during the forecast period, whereas titanium is likely to witness the fastest growth during the same period. Key factors for aluminum’s dominance are its excellent track record of over eight decades, lower density, anti-corrosive properties, high malleability, and ductility, and more economical than that of its competitive materials, such as titanium.

·        On the other hand, titanium is gaining preference in the market owing to its various benefits, such as a high strength-to-weight ratio, high corrosion and heat resistance, and higher compatibility with composite materials.

Based on end-user type –

·        The market is segmented as OE and aftermarket. 

·        OE is expected to remain the most dominant segment of the market during the forecast period, whereas aftermarket is likely to be the fastest-growing end-user type during the same period. Commercial aircraft (which includes narrow-body and wide-body aircraft), account for the majority of the OE sales for aircraft machined components.

To know the most attractive segments, click here for a free sample of the report:

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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that North America is expected to remain the largest market for aircraft machined components during the forecast period. This growth outlook is mainly attributed to the following:

-      Driven by the presence of many aircraft OEMs, tier players, machined component manufacturers, and raw material suppliers. The USA is likely to remain the leading market, both in, North America and globally, during the forecast period.

Concurrently, Asia-Pacific is likely to be the fastest-recovering region during 2023-2028. China is gaining a significant share and accounted for more than two-fifths of the Asia-Pacific’s market in 2022. Similarly, India is likely to be the new growth engine of the regional market in the coming five years.

Aircraft Machined Components Market Drivers:

Some of the key drivers listed in the report are given below.

-      Increased aircraft production.

-      Growing air travel demands.

-      Expanding airline fleets.

-      The need for aircraft replacement.

Competitive Landscape: Top Companies in the Aircraft Machined Components Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

-         Collins Aerospace

-        GE Aerospace

-        GKN Aerospace

-        Howmet Aerospace Inc.

-        Mitsubishi Heavy Industries, Ltd.

-        MTU Aero Engines AG

-        Precision Castparts Corp.

-        Premium AEROTEC GmbH (Airbus Aerostructures GmbH)

-        Spirit AeroSystems, Inc

-        STELIA Aerospace (Airbus Atlantic).

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the aircraft machined components market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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-      Aircraft Nacelle Components Market

-      Aerospace Milled Parts Market

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About us –

Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

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