Ameco Research Analyst estimated that the global market for Aerospace And Defense C-Class Parts will rise at a CAGR of more than 4% during the forecast period, with a market size of over USD 25,030 Million by 2030.
The aerospace and defense industry's demand for c-class parts is growing due to an increase in commercial and regional aircraft deliveries, an increase in the share of wide-body aircraft in commercial aircraft deliveries, an increase in aircraft fleet size, technological advancements, and a growing demand for lightweight and high corrosion-resistant fasteners.
Market Dynamics
The rising commercial aviation industry is attributed with driving global market expansion. Robust demand is projected during the forecast period, as strong economic growth, rising consumer buying power, and evolving airline business models provide passengers with several options, stimulating overall aircraft manufacture.
The market is predicted to rise as a result of the government's favorable business policies and increased investment on the airline industry. Between April 2000 and March 2021, FDI intake into India's air transport sector (including air freight) totaled US$ 2.95 billion, according to the Department for Promotion of Industry and Internal Trade (DPIIT).
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The global aerospace and defense c-class components market is projected to be hampered by factors such as fluctuating raw material prices and the availability of alternatives such as adhesives to replace mechanical parts. Furthermore, the target market's growth is likely to be hampered by fierce competition among companies and operations with low profit margins. However, rising consumer demand for air travel, as well as a focus on the creation of low-cost raw materials for mechanical products, are likely to open up new opportunities for participants in the worldwide aerospace & military c-class components market over the forecast period. Furthermore, the target market's revenue transaction is predicted to benefit from increased collaboration between regional and international companies.
By incorporating fleet management and line planning, as well as adapting to new aircraft, remodeling and replacing existing aircraft can boost and diversify aftermarket demand. In the long run, an increase in the number of MRO facilities is expected to drive the growth of the commercial and defense aircraft aftermarkets.
Global Aerospace and Defense C-class Parts Market Classification
The aerospace and defense c-class parts market is divided into four categories: part, end-use, application, and geography. The part segment can be categorized into fasteners, bearings, electrical, and machined parts. The worldwide aerospace and defense c-class parts market is dominated by the fasteners segment. However, the electrical segment is expected to attain the substantial growth rate during the forecast period 2022 – 2030. Bearings are one of the most important components of shock absorbers and landing gear struts because they prevent heat damage and ladder cracking. The end-use segment is categorized into commercial, military, business & general aviation, and others. Furthermore, based on application, the market is split into interiors, airframes, engines, and systems.
Regional Stance
North America, Asia-Pacific, Latin America, Europe, and the Middle East & Africa (MEA) are the regional categorization of the global Aerospace and Defense C-class Parts market. North America dominates the aerospace and defense c-class parts market due to the region's well-established aircraft manufacturing industry, while the Asia-Pacific aerospace and defense c-class parts market is expected to grow due to rising military spending, rising demand for military aircraft, and rising levels of disposable income. From 2022 to 2030, Asia Pacific is expected to be the fastest-growing geographical market. Increasing military spending in India, China, and Japan is likely to boost demand for military aircraft, propelling the Asia Pacific market forward. Furthermore, the market is likely to benefit from a significant increase in passenger traffic as a result of rising per capita income and a growing population.
Major Players
The top players offered in the report include Amphenol Corp., Arconic, Inc., Eaton Corp., LMI Aerospace, Inc., Trimas Corp., RCB Bearings, Inc., Precision Castparts Corp., LiSi Aerospace, Safran SA, and Triumph Group.
In 2021, Positronic was bought by Amphenol Corporation, a global manufacturer and service provider of high-reliability electronic connectors. The purchase is intended to help the company expand its product portfolio and customer base.
In 2020, MTS Equipment Corporation, a global supplier of advanced test systems, motion simulators, and precision sensors, was also bought by the business. This purchase is intended to help the company expand its product offerings and customer base.
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