The US Aerospace and Defense Market is Segmented by Sector (Aviation (Commercial Aviation and General Aviation), Defense (Army, Navy, and Air Force), Space, and Unmanned Systems) and Platform (Land, Air, Sea, and Space). The Report Offers Market Size and Forecast for all the Above Segments in Value (USD).

From 2024 to 2043, the global aerospace services market size is expected to reach approximately *** trillion U.S. dollars, of which around ** percent will be generated in Eurasia. During the given period, North America was expected to be the second-largest market for commercial services, accounting for ** percent.

Global Aerospace market size is expected to reach $420.06 billion by 2029 at 5.4%, segmented as by type, commercial aircraft, aircraft maintenance, repair and overhauling services, aerospace support and auxiliary equipment

Global Aerospace and Defense Market size was worth $750 billion in 2022 and is projected to grow in value to $1388 billion by 2030 at a CAGR of 8.2%.

The Global Aerospace Materials Market Report is Segmented by Type (Structural and Non-Structural), Aircraft Type (General and Commercial, Military and Defense, and Space Vehicles), and Geography (Asia-Pacific, North America, Europe, and the Rest of the World). The Report Offers the Market Size and Forecasts in Value (USD) for all the Above Segments.

Aerospace Market size was valued at USD 26.49 Billion in 2023 and is projected to reach USD 56.16 Billion by 2031, growing at a CAGR of 9.85% during the forecast period 2024-2031.

Global Aerospace Market Drivers

The market drivers for the Aerospace Market can be influenced by various factors. These may include: Growing Air Travel Demand: The aerospace market is significantly driven by the increasing demand for air travel. With the global middle-class population expanding, more individuals can afford air travel. This surge is particularly evident in emerging economies, where rising disposable income leads to higher passenger volumes. Airlines are investing in new aircraft to cater to the growing demand, prompting manufacturers to ramp up production.

Global Aerospace And Defense market size is expected to reach $1102.16 billion by 2029 at 6.8%, segmented as by type, aerospace, defense

Europe Aerospace and Defense Market Report is Segmented by Sector (Commercial and General Aviation, Military Aircraft and Systems, Unmanned Aerial Systems, and Space Systems and Equipment) and Geography (United Kingdom, France, Germany, Italy, Spain, and Rest of Europe). The Report Offers Market Sizes and Forecasts for all the Above Segments in Value (USD).

Global aerospace market size is expected at $583.3 million by 2033 at a growth rate of 4.8%.

In 2021, the global military aircraft and aerospace manufacturing market was estimated at approximately ***** billion U.S. dollars. The leading companies in this market include Boeing, Lockheed, and Northrop Grumman.

Get key insights from Market Research Intellect's Aerospace Market Report, valued at USD 890 billion in 2024, and forecast to grow to USD 1.3 trillion by 2033, with a CAGR of 4.5% (2026-2033).

Snapshot img

Aerospace Parts Manufacturing Market Size 2025-2029

The aerospace parts manufacturing market size is forecast to increase by USD 210.2 billion, at a CAGR of 4.4% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing demand for new commercial and defense aircraft. This trend is fueled by the continuous expansion of air travel and the modernization of military fleets worldwide. In parallel, rapid technological advancements in aerospace parts manufacturing are transforming the industry, enabling the production of lighter, stronger, and more efficient components. However, the high cost associated with aerospace parts manufacturing poses a significant challenge for market participants. This cost burden is due to the complex and intricate nature of aerospace parts, as well as the stringent quality and safety requirements. To capitalize on market opportunities and navigate these challenges effectively, companies must focus on optimizing their manufacturing processes, leveraging advanced technologies, and forging strategic partnerships. By doing so, they can reduce costs, improve efficiency, and maintain a competitive edge in the dynamic and evolving aerospace parts manufacturing landscape.

What will be the Size of the Aerospace Parts Manufacturing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe market continues to evolve, driven by the dynamic interplay of various sectors and emerging applications. Commercial aviation remains a significant market, with ongoing advancements in engine components, airframe structures, and avionics systems. In this context, Tier 1 suppliers play a crucial role, supplying critical parts to original equipment manufacturers (OEMs). Advanced manufacturing techniques, such as additive manufacturing and precision casting, are gaining traction, offering benefits like reduced production time and improved product quality. Regulatory bodies, including EASA and FAA, enforce safety regulations and certification standards, ensuring the highest level of safety and reliability. Sustainability initiatives, such as fuel efficiency and emissions control, are increasingly important, leading to innovation in materials like high-performance plastics and lightweighting technologies. Manufacturing automation and logistics optimization are essential for maintaining just-in-time delivery and reducing costs. MRO services, repair and overhaul, and design optimization are crucial aspects of the aerospace industry, ensuring the longevity and performance of aircraft parts. Unmanned aerial vehicles (UAVs) and space exploration are emerging applications, driving demand for new materials and manufacturing processes. The global supply chain is undergoing consolidation, with industry players focusing on strategic partnerships and acquisitions to enhance their capabilities. CNC machining and surface finishing are essential machining processes, while data analytics and inventory management are key components of effective supply chain management. Aerospace materials, including titanium alloys and aluminum alloys, continue to be the backbone of the industry, with ongoing research and development in their properties and applications. Safety regulations, noise reduction, and aerodynamic efficiency are critical factors in the product lifecycle management of aircraft parts. The future trends in the market include the integration of automation and data analytics, the adoption of advanced manufacturing techniques, and the development of new materials and technologies for various applications. The market's continuous dynamism underscores the importance of staying informed and adaptable to the evolving landscape.

How is this Aerospace Parts Manufacturing Industry segmented?

The aerospace parts manufacturing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. ProductAerostructureEngineAvionicsOthersAircraft TypeCommercialBusinessMilitaryMaterialAluminum 6061-T6Stainless steelTitaniumMethodCNC machiningSheet metal fabricationInjection moldingGeographyNorth AmericaUSCanadaEuropeFranceGermanyRussiaSpainUKAPACChinaIndiaJapanRest of World (ROW).

By Product Insights

The aerostructure segment is estimated to witness significant growth during the forecast period.The market encompasses various segments, with aerostructures holding a pivotal role. Comprised of fuselage, wings, and flight control surfaces, these components are essential for aircraft construction and functionality. The fuselage houses passengers, cargo, and vital systems, while wings generate lift and ensure stability. Flight cont

The total market size of the aerospace industry in Australia was estimated to reach over ************ U.S. dollars in 2022. A number of factors led to the market size decline compared to 2018, including cheaper offshore options.

Aerospace coatings are forecast to have a market value of some 3.21 billion U.S. dollars worldwide by 2030. In 2022, the market value was approximately 1.99 billion U.S. dollars. Aerospace coatings are specialized to benefit aircraft components such as tail frame, fuselage frame, or wing frame.

Aerospace Engineering Market Outlook

The global aerospace engineering market size was valued at approximately USD 85 billion in 2023 and is projected to reach USD 140 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2032. A significant growth factor for this market is the increasing demand for advanced aerospace technologies and innovations in both commercial and military applications.

One of the primary growth factors driving the aerospace engineering market is the surge in air travel and the corresponding need for more aircraft. The rising middle-class population and increased disposable income have led to more people opting for air travel, which pushes airlines to expand their fleets. This expansion directly impacts the aerospace engineering market, necessitating advancements in aircraft design, safety features, and fuel efficiency. Additionally, the growing focus on environmental sustainability is prompting the development of greener technologies within the aerospace sector, further driving market growth.

Another key driver is the significant investments in defense and military aerospace technologies. Governments around the world are increasingly focusing on modernizing their military capabilities, which includes upgrading their aircraft, missiles, and surveillance systems. This modernization drive is creating a substantial demand for aerospace engineering services, particularly in the areas of avionics, propulsion systems, and materials engineering. The need for advanced defense mechanisms is expected to sustain the aerospace engineering market's growth over the forecast period.

Space exploration is also a crucial factor contributing to the market's expansion. With space agencies and private companies investing heavily in missions to explore Mars, the Moon, and beyond, the demand for innovative aerospace engineering solutions is on the rise. These missions require advanced spacecraft, satellites, and propulsion technologies, all of which fall under the purview of aerospace engineering. As space exploration efforts intensify, the market is likely to see significant advancements and growth.

Aerostructures and Engineering Services play a pivotal role in the aerospace engineering market, providing essential support in the design and manufacturing of aircraft components. These services encompass a wide range of activities, including the development of airframes, wings, and fuselage structures, which are crucial for the overall performance and safety of aircraft. The increasing complexity of modern aerospace systems necessitates advanced engineering solutions, and companies specializing in aerostructures are at the forefront of this innovation. By leveraging cutting-edge materials and manufacturing techniques, these services contribute significantly to the development of lighter, more fuel-efficient aircraft, aligning with the industry's focus on sustainability and performance optimization.

On a regional level, North America dominates the aerospace engineering market, primarily due to the presence of major aerospace companies and significant investments in defense and space exploration. However, regions like Asia-Pacific are expected to witness considerable growth due to increasing investments in the aerospace sector, rising air passenger traffic, and the establishment of new aerospace manufacturing facilities. Europe also holds a substantial share, driven by its well-established aerospace industry and ongoing research and development activities.

Component Analysis

Aircraft

The aircraft segment is a major component of the aerospace engineering market. This segment covers a wide range of engineering services related to the design, development, and maintenance of commercial, military, and private aircraft. The rising demand for new, fuel-efficient aircraft is a significant factor driving growth in this segment. Airlines are increasingly looking to replace older fleets with more modern and environmentally friendly options, which requires substantial aerospace engineering expertise. Additionally, the need for continuous maintenance and upgrades ensures a steady demand for engineering services in this segment.

Technological advancements in aircraft design, such as the use of advanced composite materials and more efficient propulsion systems, are also propelling the growth of the aircraft component market. These inn

This statistic illustrates the global aerospace industry size in 2017, broken down by segment. In that year, the satellites and space industry segment was sized at more than **** billion U.S. dollars.

Industry operators are primarily engaged in engineering duties related to the design, construction and testing of aircraft, missiles and spacecraft. To a lesser degree, operators may evaluate and recommend improvements relative materials, equipment and techniques.

Global Aerospace Machine Tools Market was valued at USD 3.20 Billion in 2024 and is expected to reach USD 4.77 Billion by 2030 with a CAGR of 6.89% during the forecast period.

The Aerospace and Defense Materials Market Report is Segmented by Material Type (Aluminum Alloys, Steel Alloys, Titanium Alloys, Super Alloys, Composite Materials, and Other Material Types), Aircraft Type (Commercial, Military, Business and General Aviation, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

The United States aerospace market is estimated to grow at a CAGR of 2.40% in the forecast period of 2025-2034.