Aircraft Components

Market Size and Revenue

• The aircraft components market boasts a staggering size, estimated at around USD 918.7 billion in 2024
• This figure is projected to climb steadily, reaching a projected value of over USD 1.3 trillion by 2031, indicating a healthy Compound Annual Growth Rate (CAGR) of approximately 6.4%.

Major Players:

• Airbus Group (Europe): A European multinational known for its commercial aircraft like the A320 family and A350 XWB.
• Boeing Company (US): A leading American aerospace giant, renowned for its commercial jets like the 737 and 787 Dreamliner.
• Bombardier Inc. (Canada): A Canadian manufacturer specializing in business jets, regional aircraft, and components.
• Embraer S.A. (Brazil): A Brazilian aerospace conglomerate focusing on commercial jets, military aircraft, and executive jets.

Engine Manufacturers:

• Rolls-Royce plc (UK): A prominent British company known for its jet engines used in both commercial and military aircraft.
• General Electric Company (US): An American industrial giant with a strong presence in the aviation sector, producing jet engines for various aircraft types.
• Safran Group (France): A French multinational specializing in aerospace and defense, with a significant role in aircraft engine development.

Component Suppliers:

• Honeywell International Inc. (US): A diversified technology and manufacturing company providing various aircraft components like flight controls and avionics.
• Collins Aerospace (US): A subsidiary of Raytheon Technologies, specializing in aerospace and defense systems, including aircraft components like landing gear and navigation systems.
• Spirit AeroSystems Holdings, Inc. (US): An American aerospace manufacturer focusing on designing and building major aircraft components for various manufacturers.

Growth Drivers:

• Rising global passenger traffic, especially in emerging economies, is a significant driver for the aircraft components market.
• Airlines are expanding their fleets to meet this growing demand.
• The increasing demand for commercial aircraft replacements due to aging fleets further fuels market growth.
• The burgeoning military aircraft sector, driven by global security concerns, is another growth factor.

Challenges and Considerations:

• Stringent regulations and safety standards set by aviation authorities pose a challenge for manufacturers who must ensure components meet these rigorous requirements.
• Fluctuations in fuel prices and raw material costs can impact production costs and profitability for component manufacturers.
• The ongoing skilled labor shortage in the aerospace industry necessitates workforce development initiatives to bridge the gap.

For further in-depth analysis and insights, visit our website (Ken Research) for industry-specific reports and expert consultations.