Aerospace Parts Manufacturing Market

Market Definition

The market refers to the industry engaged in the design, production, and assembly of components used in aircraft and spacecraft. These components include engines, aerostructures, cabin interiors, and other critical systems. The market caters to civil aviation covering both commercial and private aircraft as well as military aviation and spacecraft applications.

The report explores key drivers of market development, offering detailed regional analysis and a comprehensive overview of the competitive landscape shaping future opportunities.

Aerospace Parts Manufacturing Market Overview

Global aerospace parts manufacturing market size was valued at USD 911.46 billion in 2023, which is estimated to be valued at USD 947.01 billion in 2024 and reach USD 1,285.75 billion by 2031, growing at a CAGR of 4.47% from 2024 to 2031.

The market is experiencing robust growth driven by the increase in global air passenger traffic and airline fleet expansion. As more people travel by air, airlines are expanding their fleets to accommodate growing demand, boosting the need for aircraft components and systems. 

Major companies operating in the aerospace parts manufacturing industry are JAMCO Corporation, Intrex Aerospace, Rolls-Royce plc, Camar Aircraft Parts Company, Safran, Woodward, Sansera, Eaton, Aequs Private Limited, General Electric Company, Pratt & Whitney, MTU Aero Engines AG, Collins Aerospace, Kawasaki Heavy Industries, Ltd, and Liebherr Group.

The market is experiencing significant growth driven by the rising demand for fuel-efficient, next-generation aircraft and lightweight components. With airlines and defense sectors focusing on reducing operational costs and carbon emissions, there is a strong shift toward advanced materials like composites and titanium alloys.

This has opened new opportunities for manufacturers specializing in innovative, high-performance components, particularly as global OEMs seek lighter, more efficient solutions to meet sustainability goals and evolving regulatory standards in both civil and military aviation.

• In January 2025, Aerolloy Technologies, a subsidiary of PTC Industries, became the first Indian private company to commission a Vacuum Arc Remelting (VAR) furnace and produce aerospace-grade Titanium alloy ingots. This milestone places India among a select few nations capable of producing high-performance Titanium alloys for aerospace and defense applications, positioning Aerolloy as a global leader in advanced manufacturing technology.

Key Highlights:

1. The global aerospace parts manufacturing industry size was recorded at USD 911.46 billion in 2023.
2. The market is projected to grow at a CAGR of 4.47% from 2024 to 2031.
3. North America held a market share of 37.44% in 2023, with a valuation of USD 341.25 billion.
4. The aerostructure segment garnered USD 350.37 billion in revenue in 2023.
5. The commercial aircraft segment is expected to reach USD 532.88 billion by 2031.
6. Asia Pacific is anticipated to grow at a CAGR of 5.23% during the forecast period.

Market Driver

Growing Air Passenger Traffic

The steady rise in global air passenger traffic is a key growth driver for the market. As per the Federal Aviation Administration (FAA's) Air Traffic Organization article dated September 2024, the FAA handles 16,405,000 flights annually, with an average of 45,000 daily flights, and approximately 2,900,000 passengers flying in and out of U.S. airports every day.

As travel demand grows, airlines are expanding their fleets to meet this surge, leading to higher demand for new aircraft and the maintenance of existing fleets. This expansion fuels the need for a wide range of aerospace parts, from engines and aerostructures to cabin interiors and avionics. Additionally, as airlines retire older models and replace them with more fuel-efficient aircraft, manufacturers are seeing increased orders for cutting-edge components and systems.

• In March 2025, GE Aerospace revealed plans to invest nearly USD 1 billion in expanding its U.S. manufacturing capabilities. This investment will strengthen the production of advanced aerospace parts, enhancing engine safety, quality, and delivery.

Market Challenge

Capital Investment

A significant challenge in the aerospace parts manufacturing market is the high initial capital investment required to set up advanced production facilities, coupled with long development cycles for aerospace components. These factors can strain financial resources and delay time-to-market.

However, manufacturers can mitigate these challenges through strategic partnerships, government funding, and technology investments like additive manufacturing and automation to improve efficiency. Adopting lean production methods and collaborations with suppliers can also reduce costs and streamline the development process, ensuring competitiveness in the market.

Market Trend

Growth in 3D Printing Adoption

A prominent trend in the market is the growth in 3D printing adoption, particularly for producing flight-certified parts. Additive manufacturing offers significant advantages, including enhanced production efficiency, cost reduction, and the ability to create complex, lightweight components that are essential for next-generation aircraft.

With its capability to produce high-quality, customized parts on demand, 3D printing is becoming a key solution in addressing challenges like long lead times and inventory shortages, particularly in the aerospace and aviation maintenance sectors.

• In July 2024, Stratasys and AM Craft formed a partnership to advance flight-certified 3D printed parts for aviation. This collaboration combines Stratasys’ additive manufacturing expertise with AM Craft’s distributed production model, aiming to improve part availability, production efficiency, and cost-effectiveness in aviation manufacturing.

Aerospace Parts Manufacturing Market Report Snapshot

Segmentation	Details
By Product	Engines, Aerostructure, Cabin Interiors, Others
By End-Use	Commercial Aircraft, Business Aircraft, Military Aircraft, Others
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, U.AE, Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation:

• By Product (Engines, Aerostructure, Cabin Interiors, Others): The aerostructure segment earned USD 350.37 billion in 2023 due to rising demand for lightweight composite materials, increased aircraft production rates, and technological advancements in structural design and manufacturing.
• By End-Use (Commercial Aircraft, Business Aircraft, Military Aircraft, Others): The commercial aircraft segment held 39.32% of the market in 2023, due to increased global air travel, expanding airline fleets, and ongoing replacement of aging aircraft with next-generation models.

Aerospace Parts Manufacturing Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

North America aerospace parts manufacturing market share stood around 37.44% in 2023 in the global market, with a valuation of USD 341.25 billion. North America emerged as the leading region in the market in 2023, supported by high defense expenditure, advanced technological capabilities, and a mature aviation infrastructure.

The region's dominance is further driven by strong government support and continuous investment in research and development. Additionally, a strong supply chain network, and consistent demand for both commercial and military aircraft contribute significantly to North America's position as the key hub for aerospace parts production and innovation.

Asia-Pacific is poised for significant growth at a robust CAGR of 5.23% over the forecast period. The Asia-Pacific region is emerging as the fastest-growing market for aerospace parts manufacturing due to rapid industrialization and expanding commercial aviation sectors. Governments in the region are actively investing in domestic manufacturing capabilities to reduce import dependency.

Additionally, a growing skilled workforce and favorable policy support are enhancing local production capacities. Rising air travel demand and fleet modernization efforts are also fueling the need for advanced aerospace components, driving sustained market growth in the region.

• In February 2025, Godrej Enterprises Group advanced India’s aerospace self-reliance by signing key MoUs at Aero India, including one with ADA for developing indigenous flight control actuators for the AMCA program, showcasing its precision manufacturing and next-gen aerospace capabilities.

Regulatory Frameworks

• AS9100, developed in 1999 by the Society of Automotive Engineers, is an internationally recognized quality management standard that includes ISO 9001:1994 with additional aerospace-specific requirements for design, production, and servicing.
• In EU, Regulation (EU) 2018/1139 establishes common rules for civil aviation and sets the foundation for the European Union Aviation Safety Agency (EASA), aiming to ensure high and uniform levels of safety, environmental protection, and efficient operations across the aviation sector.
• In India, MAKE Projects under the Defence Procurement Procedure (DPP) foster indigenous capabilities by streamlining the process for designing, developing, and upgrading defence systems and components, enhancing both public and private sector involvement.

Competitive Landscape:

The aerospace parts manufacturing market is witnessing increasing participation from both established and emerging players. These companies are focusing on advanced technologies, precision engineering, and high-quality production processes to meet the growing demand for aerospace components.

Key trends include the adoption of automation, additive manufacturing, and strategic collaborations, enabling companies to strengthen their capabilities and supply chain efficiencies in the global aerospace sector.

• In February 2025, Bharat Forge Ltd and Liebherr-Aerospace & Transportation SAS announced a groundbreaking collaboration to set up a state-of-the-art aerospace manufacturing facility in Pune, India. This facility will incorporate advanced technologies, including a ring mill and precision machining for landing gear components. The strategic partnership will significantly strengthen their supply chain capabilities, ensuring the production of high-precision components for both civil and defense sectors worldwide.

List of Key Companies in Aerospace Parts Manufacturing Market:

• JAMCO Corporation
• Intrex Aerospace
• Rolls-Royce plc
• Camar Aircraft Parts Company
• Safran
• Woodward
• Sansera
• Eaton
• Aequs Private Limited
• General Electric Company
• Pratt & Whitney
• MTU Aero Engines AG
• Collins Aerospace
• Kawasaki Heavy Industries, Ltd
• Liebherr Group

Recent Developments (Certification/Partnerships)

• In February 2025, Seven Point Equity Partners entered a strategic partnership with Frazier Aviation, a leader in military aircraft aftermarket components. This collaboration aims to enhance product offerings and manufacturing capabilities, expanding Frazier’s global service to military customers.
• In July 2024, A3D Manufacturing earned AS9100 certification from the International Aerospace Quality Group (IAQG). This certification affirms the company’s high-quality manufacturing, ensuring its aerospace components meet the rigorous standards required by the aviation, space, and defense industries, enhancing customer confidence in its products.
• In February 2024, GE Aerospace received orders for GEnx-1B engines from Thai Airways to power 45 new Boeing 787 aircraft.