Aerospace Parts Manufacturing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Engines, Aircraft Manufacturing, Insulation Components Manufacturing, Cabin Interiors, Equipment, Safety & Support, Avionics), By Aircraft Type (Commercial Aircraft, Business Aircraft, Military Aircraft), By Region, Competition, 2020-2030F

Market Overview

The Global Aerospace Parts Manufacturing Market, valued at USD 850.20 Billion in 2024, is projected to experience a CAGR of 6.72% to reach USD 1255.85 Billion by 2030. The Global Aerospace Parts Manufacturing Market encompasses the design, development, and production of specialized components and subassemblies for aircraft, spacecraft, and defense systems. This market's expansion is fundamentally driven by the escalating global demand for fuel-efficient and high-performance aircraft, alongside the continuous growth in air travel and air freight volume. Furthermore, substantial global defense spending and the proliferation of commercial space ventures significantly bolster demand for advanced aerospace components. According to the Aerospace Industries Association (AIA), in 2023, the US aerospace industry's economic output included $306.9 billion of aerospace products.

These foundational drivers are further supported by advancements in materials science and manufacturing technologies. However, the market faces a significant challenge with persistent supply chain disruptions, which can impede production schedules and increase operational costs for manufacturers.

Key Market Drivers

The Global Aerospace Parts Manufacturing Market is primarily propelled by increasing global air travel demand, which directly translates into higher demand for new aircraft and a subsequent surge in component production and aftermarket services. As passenger and freight volumes continue to rise, airlines expand fleets and upgrade existing aircraft, necessitating a broad range of parts from structural elements to advanced avionics. According to the International Air Transport Association (IATA), in January 2025, in its "IATA: 2024 global air demand sets record" report, total 2024 air traffic increased 10.4 percent year over year, surpassing pre-pandemic levels by 3.8 percent. Concurrently, rising military and defense spending represents another critical driver. Geopolitical developments and national security priorities compel governments worldwide to invest in the modernization and expansion of defense capabilities, leading to increased procurement of military aircraft, unmanned aerial vehicles, and sophisticated weapon systems. This investment significantly boosts the need for specialized parts in both new builds and maintenance operations. According to the Stockholm International Peace Research Institute (SIPRI), in April 2025, in its "Trends in World Military Expenditure, 2024" report, global military expenditure reached $2718 billion in 2024, marking a 9.4 percent real-term increase from 2023.

These fundamental drivers collectively stimulate innovation and production across the aerospace parts manufacturing sector, pushing manufacturers to develop more capable and efficient components. The sustained growth in commercial aviation and robust defense budgets ensures a consistent and expanding market for precision-engineered parts, subassemblies, and materials. This continuous demand underscores the market's dynamic nature and its responsiveness to global passenger traffic and strategic defense needs. According to Pratt & Whitney's parent company RTX, in January 2025, in its "Pratt & Whitney operating results swing to profit in 2024" news, Pratt & Whitney's full-year 2024 sales totaled $28.1 billion, indicating substantial activity within the market.

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Key Market Challenges

Persistent supply chain disruptions present a significant impediment to the growth of the Global Aerospace Parts Manufacturing Market. These disruptions directly hamper production schedules by causing delays in the delivery of essential raw materials and specialized components. According to the Aerospace Industries Association, in 2023, the sector experienced an average delay of 8.5 weeks in the delivery of critical components, underscoring the operational challenges manufacturers face in maintaining consistent output and meeting customer demand. Such prolonged lead times translate into extended aircraft assembly timelines and a growing backlog of orders.

Furthermore, these persistent disruptions escalate operational costs across the industry. The inability to deliver new aircraft and parts on schedule forces airlines to operate older, less fuel-efficient fleets for extended periods and increases the need for maintenance and spare parts. The International Air Transport Association projects that supply chain challenges in the aerospace industry could cost airlines over $11 billion in 2025, driven by factors such as excess fuel costs, additional maintenance expenses, and increased engine leasing fees. These substantial financial burdens indirectly impact manufacturers by creating pressure on pricing and delivery expectations within the entire aerospace ecosystem.

Key Market Trends

The Global Aerospace Parts Manufacturing Market is undergoing significant transformations driven by key trends impacting production methods and environmental responsibility.

Additive manufacturing for production is reshaping the fabrication of complex aerospace components. This technology enables the creation of lightweight, intricate designs that are unachievable with traditional manufacturing, leading to improved fuel efficiency and reduced waste. For instance, GE Aerospace announced in March 2024 a plan to invest over $650 million in its manufacturing facilities and supply chain, with approximately $54 million allocated to its Auburn, Alabama, site for additional additive manufacturing machines to increase the production of military rotorcraft engine components, along with narrow and widebody commercial aircraft engines. This demonstrates a substantial commitment to integrating additive manufacturing into core production processes.

The adoption of sustainable production methods is another crucial trend, reflecting the aerospace industry's increasing focus on environmental impact. Manufacturers are prioritizing initiatives to reduce carbon emissions, optimize material usage, and minimize waste throughout their operations. According to AIN, in July 2024, Safran Aircraft Engines inaugurated a new CFM International Leap engine repair shop at Brussels Airport designed for net-zero carbon and energy-positive operations, featuring 100 percent renewable energy sources. Such investments in environmentally conscious facilities underscore the industry's commitment to developing greener manufacturing processes and aligning with broader sustainability goals.

Segmental Insights

The Engines Product segment is a key fastest-growing segment within the Global Aerospace Parts Manufacturing Market, primarily propelled by the escalating global demand for air travel and continuous fleet modernization initiatives. This growth is fueled by airlines' increasing investment in next-generation aircraft, necessitating advanced, fuel-efficient, and lower-emission propulsion systems to comply with stringent environmental regulations and mitigate rising operational costs. Furthermore, ongoing technological advancements in engine design, materials science, and manufacturing processes, including additive manufacturing, significantly contribute to this segment's rapid expansion and innovation.

Regional Insights

North America leads the Global Aerospace Parts Manufacturing Market, driven by several key factors. The region possesses a mature commercial aviation sector alongside substantial defense spending, which consistently fuels demand for both commercial and military aircraft components. This is further supported by the presence of prominent aerospace manufacturers and a well-established supply chain. Moreover, North America's strong commitment to advanced technology adoption and ongoing research and development initiatives sustains its leadership in component innovation.

Recent Developments

• In August 2025, a consortium led by Honeywell secured £14.1 million in UK government funding for Project STRATA. This collaborative research initiative, which is highly relevant to the Global Aerospace Parts Manufacturing Market, focused on revolutionizing aerospace manufacturing through the integration of artificial intelligence and 3D printing. The project aimed to accelerate the development of critical aerospace technologies by concentrating on five innovative components within Environmental Control Systems and Cabin Pressure Control Systems. This breakthrough research was designed to enhance efficiency, reduce emissions, and address supply chain challenges through the production of additively manufactured, qualified aerospace parts.

• In June 2025, LISI AEROSPACE and Cetim entered a collaborative research and development contract for the DIGIFAST project. This initiative, directly impacting the Global Aerospace Parts Manufacturing Market, aimed to develop a breakthrough technology for the precise and industrialized control of fastener tightening in aerospace assemblies by 2027. The project was based on innovative ultrasonic measurement technology, intended to provide a non-intrusive, reproducible, and industrially scalable solution. This research addressed critical performance and safety challenges in bolted assemblies, enhancing reliability in aerospace components and production lines.

• In November 2024, Safran Aircraft Engines expanded its industrial footprint in Mexico with the inauguration of a new assembly line at its Querétaro plant. This expansion was specifically designed to bolster the production capacity for fan and turbine final assemblies, supporting the increased demand for CFM LEAP engines. The addition of these new capabilities within the Global Aerospace Parts Manufacturing Market was expected to create 150 new jobs and positioned the facility as a key site for single-aisle commercial aircraft engine final assembly. This strategic move aimed to meet the growing global air traffic demands.

• In March 2024, GE Aerospace announced plans to invest over $650 million in its manufacturing facilities and supply chain across the United States. This significant capital allocation was directed towards enhancing production capabilities and improving product quality for both commercial and defense customers within the Global Aerospace Parts Manufacturing Market. A notable portion of this investment, specifically $54 million, was designated for the Auburn, Alabama, site to acquire additional additive (3D printing) machines and tooling. This expansion aimed to increase the production of military rotorcraft engine components, alongside parts for narrow and widebody commercial aircraft engines, enabling the use of advanced manufacturing techniques for stronger and lighter components.

Key Market Players

• Boeing
• Airbus
• Lockheed Martin
• GE Aviation
• Safran
• UTC
• Rolls-Royce
• Northrop Grumman
• Spirit AeroSystems
• GKN

Report Scope:

In this report, the Global Aerospace Parts Manufacturing Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Aerospace Parts Manufacturing Market, By Product:

o   Engines

o   Aircraft Manufacturing

o   Insulation Components Manufacturing

o   Cabin Interiors

o   Equipment

o   Safety & Support

o   Avionics

• Aerospace Parts Manufacturing Market, By Aircraft Type:

o   Commercial Aircraft

o   Business Aircraft

o   Military Aircraft

• Aerospace Parts Manufacturing Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Aerospace Parts Manufacturing Market.

Available Customizations:

Global Aerospace Parts Manufacturing Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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