According to the research report, the global aircraft manufacturing market size & share was valued at USD 413.51 billion in 2021 and is expected to reach USD 626.25 Billion by 2030, growing at a CAGR of 3.7% during the forecast period.
Due to the substantial gamut of skills and facilities required, an entire flight vehicle is not made by anyone’s company. Manufacturing in the aerospace industry navigates almost all boundaries of construction. For instance, traditional machine shops for cleanrooms for electronic parts, mechanical components, and astonishingly sizeable final assembly solutions for multi-hundred-ton aircraft, missiles, and space vehicles.
In every developed country globally, prominent aerospace production programs include an entire range of software and hardware from suppliers that function as subcontractors to the dominant contractors or system integrators. Subcontracting enfolds not only onboard equipment but also prominent elements of the airframe itself. In Europe, where considerable advancements happen in cooperative efforts that are multinational, the product distribution is extensive.
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Aircraft manufacturing market: Growth leading factors
For the past few years, the aviation industry has been executing constantly well, with the growth in the air traffic to 6% in 2017 as contrasted to the significant rate of 5% growth. This unbelievable growth rate is owed to factors like growing standards of living by the consumers, particularly the middle-class population from the Asia Pacific, and airfare prices that are competitive. Also, growth in spending on travel and tourism in significant economies is behaving as an addition to the development of the aerospace industry.
Various significant elements in this region are airport infrastructural development, market liberalization, and environmental regulations. Progressive airline business plan of action and product donations bring value to travelers manifold. These advancements have elevated consumer tendency as their payments to the services that they need will be disbursed. The global aircraft manufacturing market is anticipated to grow significantly over the next few years. A growing number of orders from the market conveners, including Boeing and Airbus, with a backlog production of the next ten years, is anticipated to push the global aircraft manufacturing market size.
The prevalent covid-19 crisis impacted a previously confronted supplier landscape emphasized by the Boeing 737 Max situation. The influence is lessening in demand, supply intervention, fiscal pressure, and workforce disability, bringing on one of the biggest shocks in the history of the industry.
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Aircraft manufacturing market: Report Scope
Report Attribute
Details
Market Size 2021 Value
USD 413.51 billion
Market Outlook for 2030
USD 626.25 billion
Expected CAGR Growth
3.7% from 2022 – 2030
Base year
2020
Forecast period
2022 – 2030
Segments covered
By Product, By Application, By Region
Key Companies
Airbus, Boeing, Bombardier, Cessna Aircraft Company, COMAC, Dassault Falcon, Embraer, Gulfstream Aerospace, Hawker Beechcraft Corp., Honeywell, Piaggio America Inc., Pilatus Business Aircraft Ltd, Safran Group, and United Aircraft Corporation.
Regional scope
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customization Options
Customized purchase options are available to meet your research needs.
Aircraft manufacturing market: Key segmentation
Based on application, the commercial segment rules the market due to the increasing demand for cargo services and the growing import and export activities of goods and services. Further, increasing freight traffic and the appearance of low-cost carriers (LCC) have led to the segment’s dominance. By product, introducing new and progressive products for airplane manufacturing also reinforces the demand. The increasing demand for lightweight materials provides several advantages like enhanced fuel efficiency and insulation materials that are lightweight in airplanes and provide corrosion resistance, flexibility, and strength.
By region, North America continues to hold the prime position. The area has developed after a period of consolidation, bankruptcy, and economic recession. Robust operators have appeared with a growing concentration on enhanced productivity and cost reduction. Some have highlighted optimization programs to ease out fleets and sub fleets. Aircraft utilization has been enhanced. Europe and Asia Pacific region are also observing significant advancements in the global aircraft manufacturing market. Asia Pacific is approaching maintaining its continued growth mainly because of growing defense spending by countries like South Korea, India, China, and ASEAN.
Browse the full “Aircraft Manufacturing Market Share, Size, Trends, Industry Analysis Report, By Product (Gliders, Helicopters, Ultra-Light Aircraft, Passenger Aircraft, Unmanned Aerial Vehicle & Drones, Blimps); By Application; By Region; Segment Forecast, 2022 – 2030” Report at https://www.polarismarketresearch.com/industry-analysis/aircraft-manufacturing-market
Important Questions Being Answered by The Market Report
The market primarily depends on the product, application, and region
Aircraft manufacturing market: By product
Aircraft manufacturing market: By application
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