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Abstract, Snapshot, Market Analysis & Market Definition: Aerospace & Defense C-class Parts Market
Industry / Sector TrendsAerospace & Defense C-class Parts Market size exceeded USD 10 billion in 2018 and will grow at around 4.5% CAGR from 2019 to 2025. U.S. Aerospace & Defense C-class Parts Market size, by End-User, 2014 - 2025 (USD Billion) Increasing demand for commercial aircrafts in the developing regions will primarily drive aerospace & defense C-class parts market over the forecast timeframe. C-class parts are used in a variety of applications such as commercial & defense aircrafts, aircrafts engine assemblies, helicopters, missiles & defense systems, spacecrafts etc. These are small and consumables parts which have significant importance in the assembly stage of an aircraft. According to Boeing estimates, the Boeing 747 employs over six million parts, out of which half of them are fasteners. Growing applicability of the product as a result of rising airline passengers traffic is subsequently, driving demand for the market. Introduction of private space research and exploration companies such as SpaceX, Blue Origin, Virgin Galactic has created lucrative opportunities in the space search & exploration sector. This has increased consumption of fasteners in the region. Recently, between 2018 and 2019 Indian space research organization, ISRO, launched 11 mission including one lunar exploration mission. Most of these organizations are government owned and government are increasing their spending on space missions such as launch of satellite, manned space missions, etc. As per the date global spending on space missions progressed by 6% in 2017, as compared to the 2016 reaching total of USD 14.6 billion. The growing possible industry of space research coupled with new space race by private companies will drive demands for aerospace & defense C-class parts market in space research & exploration sector.
Market Segmentation, Outlook & Regional Insights: Aerospace & Defense C-class Parts Market
Aerospace & Defense C-class Parts Market, By ComponentThe aerospace & defense C-class parts market is segmented on the basis of component into fasteners, bearings, electrical and machined. In 2018, fasteners segment represented the largest revenue share for around 50% in the overall market. It primarily includes screws, bolts, pins, rivets, nuts, rings, studs, washers, inserts and other small mechanical component that used for affixing and joining two or more parts. This large market share can be attributed to huge scope and high consumption in aerospace & defence applications. Fasteners component will foresee accelerating growth due to rise in demand of low-cost carriers across the world. Electrical segment includes connectors, switches, cables, sleeving, terminals, contact, etc. This segment accounted for over 10% share in 2018 owing to its growing importance in functioning of aircrafts and defence systems. Electrical components are used in flight control, landing gears, interiors, control systems. Demand for new generation and advanced aircrafts for military and commercial application will propel the market demand for electrical segment.
Aerospace & Defense C-class Parts Market, By ApplicationAerospace & defense C-class parts market is divided on the basis of applications into airframe, system, engines and interiors. Airframe segment held a largest market share of over 50% of market revenue in 2018. It includes the fuselage, undercarriage, empennage, wings etc. Large demand share for airframe applications is mainly due to indispensable usage of fasteners in large quantity. These fastening products are used to transfer the load from one part to another. Fasteners are widely used in airframe application, growing demand for innovative airframe structures will propel the market demand during forecast timespan. Apart from engine, the other application areas that seeks maximum market share of aerospace & defense C-class parts are systems. Systems includes flight control, landing gear, cooling and heating, avionics, etc. These sub-systems play crucial role in the functioning of an aircraft and C-class parts has huge applicability in such systems. In 2018, system segment generated more than USD 1.5 billion. Engine is another segment that will witness substantial growth during forecast period due to replacement of old aircrafts and development of new fuel-efficient engines. Application of C-class parts in engine is deemed very crucial due to unique requirement of properties for such extreme application.
Aerospace & Defense C-class Parts Market, By Distribution ChannelGlobal aerospace & defense C-class parts market is categorized on the basis of distribution channel OEM and aftermarkets. Original equipment manufacturer held a share of around 30% in the overall market. This is due to extensiveness of mergers and acquisition prevailing among aircraft manufacturers and component manufacturers. This allow companies to expand its product portfolio and increase their market share. Aftermarket is the market for spare parts, accessories, and components all together. This segment held around 70% market share in 2018. This is primarily due to MROs are much more flexible and they can expand &diversify their product portfolio according to airlines wants & needs. They can provide more extensive support to customers such as line planning, fleet management and adapting to new aircraft types.
Aerospace & Defense C-class Parts Market, By End UserThe end-user segment consists of commercial, military & defense, spacecrafts and others. In 2018, commercial segment accounted for more than 55% of total revenue. This is mainly attributed to rise in air passenger traffic couple with lower air fares. Additionally, rapidly growing tourism industry and increasing number of intercontinental flights shall positively drive the growth of commercial segment in coming years. Increasing demand of single aisle jets all over the world will augment the aerospace & defense C-class parts market demand.
Aerospace & Defense C-class Parts Market, By RegionGlobal aerospace & defense C-class parts industry size by region, 2018 Aerospace & defense C-class parts market is dominated by North America and Europe followed by Asia pacific. North America accounted for 45% market share in the market. North America has major aircraft and engine manufacturers such as Boeing, Lockheed Martin, United Technologies, GE Aviation, Raytheon and Northrop Grumman. Increased U.S. defense spending coupled with pending backlogs are expected to provide strong growth prospects over the next few years. European aerospace market remains strong, although several companies have faced operational setbacks. However, increased defense spending by a number of European governments and the European Defense fund to support revenue growth will propel demand. Asia Pacific aerospace & defense C-class parts market held a significant share of 19% in 2018 and it will have strong growth in coming years. This region is home for majority of world population and also their improving real income boosted air traffic. Rising investments in infrastructure development in the fast-developing economies of China, India, Japan, Australia, and South Korea will have a significant influence on the regional market growth during forecast period.
Key Players, Recent Developments & Sector Viewpoints: Aerospace & Defense C-class Parts MarketNotable industry players operating in the aerospace & defense C-class parts market are Amphenol Corporation, Precision Castparts Corporation, Arconic Inc., Eaton Corporation, RCB Bearings Incorporated, Stanley Black & Decker Inc., Trimas Corporation, LiSi Aerospace, Satcom Direct, NTN Corporation, Triumph Group, Safran SA, SKF, LMI Aerospace Inc., National Aerospace Fasteners Corporation. Players continuously engage themselves in mergers & acquisitions, collaborations, and supply agreements, in order to expand their market share and gain competitive advantage over competitors.
Industry ViewpointAerospace industry is one of the most powerful industries in the world and it had substantial impact on the growth of society at large. It encloses worldwide network of manufacturers who produces airplanes, helicopters, commercial & military aircraft, missiles, rockets, satellites and spacecrafts. These manufacturers depend on vast number of supplier firms that produces variety of products such as avionic, sub-systems, C-class parts, etc. to produce final product. Aerospace industry has grown dramatically in past 20 years with passenger number rising from 1.4 billion in 1998 to 4.1 billion in 2018. Rise in number of passengers coupled with increased level of income will further boost aerospace & defense C-class parts market revenue by 2025.
Key Insights Covered: Exhaustive Aerospace & Defense C-class Parts Market1. Market size (sales, revenue and growth rate) of Aerospace & Defense C-class Parts industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Aerospace & Defense C-class Parts industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aerospace & Defense C-class Parts industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Aerospace & Defense C-class Parts industry.
Research Methodology: Aerospace & Defense C-class Parts Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
1 Report Overview 1.1 Research Scope 1.2 Major Manufacturers Covered in This Report 1.3 Market Segment by Type 1.3.1 Global Aerospace & Defense C-class Parts Market Size Growth Rate by Type (2019-2025) 1.4 Market Segment by Application 1.4.1 Global Aerospace & Defense C-class Parts Market Share by Application (2019-2025) 1.5 Study Objectives 1.6 Years Considered 2 Global Growth Trends 2.1 Production and Capacity Analysis 2.1.1 Global Aerospace & Defense C-class Parts Production Value 2014-2025 2.1.2 Global Aerospace & Defense C-class Parts Production 2014-2025 2.1.3 Global Aerospace & Defense C-class Parts Capacity 2014-2025 2.1.4 Global Aerospace & Defense C-class Parts Marketing Pricing and Trends 2.2 Key Producers Growth Rate (CAGR) 2019-2025 2.2.1 Global Aerospace & Defense C-class Parts Market Size CAGR of Key Regions 2.2.2 Global Aerospace & Defense C-class Parts Market Share of Key Regions 2.3 Industry Trends 2.3.1 Market Top Trends 2.3.2 Market Drivers 3 Market Share by Manufacturers 3.1 Capacity and Production by Manufacturers 3.1.1 Global Aerospace & Defense C-class Parts Capacity by Manufacturers 3.1.2 Global Aerospace & Defense C-class Parts Production by Manufacturers 3.2 Revenue by Manufacturers 3.2.1 Aerospace & Defense C-class Parts Revenue by Manufacturers (2014-2019) 3.2.2 Aerospace & Defense C-class Parts Revenue Share by Manufacturers (2014-2019) 3.2.3 Global Aerospace & Defense C-class Parts Concentration Ratio 3.3 Aerospace & Defense C-class Parts Price by Manufacturers 3.4 Key Manufacturers Aerospace & Defense C-class Parts Plants/Factories Distribution and Area Served 3.5 Date of Key Manufacturers Enter into Aerospace & Defense C-class Parts Market 3.6 Key Manufacturers Aerospace & Defense C-class Parts Product Offered 3.7 Mergers & Acquisitions, Expansion Plans 4 Market Size by Type 4.1 Production and Production Value for Each Type | read more...