Industria
Aerospace Machined Components Market is Forecast to Reach US$ 43.7 Billion in 2028, Says Stratview Research
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The Aerospace Machined Components Market is segmented based on Component Type, Aircraft Type, Application Type, Material Type, End-User type, and Region.
- The market is segmented into milled parts, turned parts, and others. Among these component types, 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.
The market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. Despite taking a nosedive in 2020, 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.
- The market is segmented into metal airframes, engines, landing gear, and others. Among these application types, 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.
The market is segmented into aluminum, stainless steel, titanium, and other metals & alloys. Among these material types, in the market during the forecast period, whereas . 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.
- The market is segmented as OE and aftermarket. of the market during the forecast period, whereas 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.
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The report suggests that This growth is majorly attributed to the following-
- Presence of a large number of 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, . 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.
Some of the key drivers listed in the report are given below.
- Growing air travel demands and expanding airline fleets.
- The increased aircraft production and the need for aircraft replacement.
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The market is highly populated, with the presence of several local, regional, and global players. Major players have excellent product development capability, and they compete in some of the governing factors, including price, product offerings, regional presence, etc. These players hold distinct capabilities in manufacturing aerospace machined components through specific processes such as milling and turning. A majority of these players are located in North America, Europe , and Asia-Pacific , being home to some key companies as well. As a whole, the following are the key players in the global aerospace machined components market:
- Spirit AeroSystems, Inc
- GKN Aerospace
- Collins Aerospace
- Mitsubishi Heavy Industries, Ltd.
- Premium AEROTEC GmbH (Airbus Aerostructures GmbH)
- STELIA Aerospace (Airbus Atlantic)
- Howmet Aerospace Inc.
- Precision Castparts Corp.
- MTU Aero Engines AG
- GE Aerospace
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