February 06, 2020
According to the latest study titled ‘Aerospace & Defense C-class Parts Market Size By Component (Fasteners, Bearings, Electrical, Machined Parts), By Application/Work Package (Airframe, System, Engine, Interiors), By Distribution Channel (OEM, Aftermarkets), By End User (Commercial, Military & Defense, Spacecrafts), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Singapore, Brazil, Saudi Arabia, UAE, South Africa, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global aerospace & defense C-class parts market is projected to exceed USD 14.4 billion by the year 2025.
Rising air travel & tourism across the developing nations is prompting the demand for commercial aircrafts, which in turn is driving the aerospace & defense C-class parts market. These parts are low-cost components such as fasteners and bearings which are generally utilized in the control surface, wings, and electrical panels of an aircraft and are replaced when damaged.
However, rising use of adhesives as a replacement of mechanical fasteners in aerospace & defense sector will hamper the market growth during the forecast period. Adhesives lower the overall weight, hence, are preferably used as alternative to rivets, bolts, and other mechanical fasteners. Additionally, the development of polymer and composite material alternatives will negatively affect the aerospace & defense C-class parts market share in the future.
Based on the component, aerospace & defense C-class parts market from the fasteners segment held 50% industry share in 2018 and is anticipated to grow substantially during the predicted timeframe, owing to its rising adoption in fabrication and aircraft assembly operations. Furthermore, rapid replacement of conventional aircrafts with next-gen fuel efficient aircrafts is stimulating the segmental growth.
In terms of the application scope, airframe segment is expected to grow by 4.5% over the analysis period, on account of the constant employment of C-class parts in critical aircraft elements such as fuselage, undercarriage, empennage, and wings.
Speaking of the distribution channel, aftermarket segment is projected to capture a market share of 70% by the year 2025. Rising need for routine MRO (maintenance, repair, & overhaul) services will boost the growth of aerospace & defense aircraft C-class parts aftermarket segment in the coming years.
Based on the end-user spectrum, aerospace & defense C-class parts industry from commercial segment is expected to amass 55% market share by the year 2025, owing to growing affordability, increase in air passengers, and expansion of air transport & tourism industry. The benefits of air travel, rising disposable income, and globalization are some of the other factors boosting the commercial landscape.
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Considering the geographical outlook, Asia Pacific market is expected to gain 17% share during 2019-2025, owing to the growing population and rising disposable income, coupled with increasing investments in airport infrastructure across the region. According to the Boeing’s Pilot & Technician Outlook 2019, it is estimated that 44,000 new airplanes are required in the next 20 years, of which Asia Pacific is expected to account for 39% i.e., 17,000 airplanes.
Some of the prominent players of aerospace & defense C-class parts market include Amphenol Corporation, Arconic, Inc., Eaton Corporation, Satcom Direct, Trimas Corporation, LMI Aerospace, Inc., SKF, Safran SA, LiSi Aerospace, and Triumph Group among others.
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