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DUBLIN--(BUSINESS WIRE)--Apr 20, 2023--
The "Aerospace & Defense C-Class Parts Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The aerospace & defense c-class parts market is likely to rebound at a promising CAGR of 9.1%, in the long run, to reach US$ 13 Billion in 2028.
C-Class parts in the aerospace & defense industry are low-cost and high-volume commodity parts such as fasteners and bearings. The global aerospace & defense c-class parts market is segmented into four major heads, which are Hardware Parts, Bearing Parts, Electronic Components, and Machined Parts.
The hardware parts segment is expected to remain dominant in the aerospace & defense c-class parts market over the next five years, mainly driven by the demand for fasteners and bolts. Hardware parts majorly consist of fasteners, which are situated across an aircraft body including the fuselage, wings, landing gear fittings, control surfaces, flight control actuating systems, and air-intake areas near the engine.
In terms of demand for c-class parts in the aerospace industry, the past three years (2019-2021) proved to be extremely challenging for the market stakeholders, leaving no space in front of the market stakeholders for recovery. Firstly, the grounding of the B737Max, followed by the outbreak of the pandemic kicked off the industry to almost the decade-ago figure.
A similar jolt was felt in the demand for aircraft c-class parts, which witnessed a colossal decline (-30%+ in 2020) amid the pandemic. The year 2021 proved to be another breathtaking year for the stakeholders with a continued downfall in the demand, mainly due to the prolonged impact of the pandemic paired with the B787 production suspension.
The beginning of 2022 proved to be a new dawn for the market stakeholders with a rapid recovery in air travel, helping the industry stakeholders to push their trajectory upwards inch by inch. Overall, the aerospace & defense c-class parts market rebounded at an impressive rate of 20%+ in the same year, lighting the rays to hope for a speedy recovery of 20%+ in the same year.
The changing geopolitical conditions, supply chain disruption, and resurgence of COVID variants keep tumbling the market environment. Despite these challenging environments, the publisher firmly believes in a positive outlook in the aerospace & defense c-class parts market in both short as well as long term.
The short-term outlook clearly eludes these challenging macro business environments and may record impressive double-digit growth rates, followed by sequential growth rates in the long term.
Recent Market JVs and Acquisitions:
In 2021, Amphenol Corporation acquired Positronic for an undisclosed amount. Positronic is a leading manufacturer of high-reliability power and signal connectors for different industries.
In 2020, Stanley, Black & Decker, Inc. acquired Consolidated Aerospace Manufacturing for US$ 1.4 Billion. The acquisition further diversified Stanely Black & Decker's presence in the industrial markets and expanded its portfolio of specialty fasteners in the aerospace & defense market.
Based on the aircraft type, commercial aircraft is likely to remain the biggest aircraft category in terms of demand for c-class parts during the forecast period. The aircraft type is also likely to witness the highest growth during the same period. Increasing production rates of key programs, such as the B737 and A320 family; market entry of new players, such as COMAC; upcoming aircraft programs such as A321 XLR and COMAC C919; and rising commercial aircraft fleet are the major factors that are driving the demand for c-class parts in the segment.
Based on the part type, the market is segmented into hardware parts, bearings, electronic components, and machined parts. Hardware parts are expected to remain the dominant part type in the market during the forecast period. Hardware components majorly include fasteners.
Out of the total number of components used in an aircraft, more than 50% are fasteners. Electronic components is expected to grow at the highest pace, owing to increasing usage in avionics, electrical interconnect harnesses, cabin lighting, IFE, airframe, landing gear, engines, flight control, and hydraulic systems.
In terms of regions, North America is expected to remain the leading region in the aerospace & defense c-class parts market during the forecast period. The region is the manufacturing capital of the aerospace & defense industry with the presence of several large- to small-sized OEMs, tier players, distributors, c-class part manufacturers, and airline companies.
On the other hand, Asia-Pacific is likely to grow at the highest pace in the years to come. Major markets in the region, such as China and India, are growing at a higher pace, creating a humongous demand for commercial and regional aircraft. Major tier players and OEMs are making a greater presence in the region to tap the growth potential. A similar impression has been felt in the c-class parts market with OEMs opening their assembly plants in the region.
Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.
The following are the key players in the Aerospace & Defense C-Class Parts Market.
Key Topics Covered:
1. Executive Summary
2. Aerospace & Defense C-Class Parts Market Environment Analysis
2.1. Supply Chain Analysis
2.2. PEST Analysis
2.3. Industry Life Cycle Analysis
2.4. Market Drivers
2.5. Market Challenges
3. Aerospace & Defense C-Class Parts Market Assessment (2017-2028) (US$ Million)
3.1. Aerospace & Defense C-Class Parts Market Trend and Forecast (US$ Million)
3.2. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
3.3. COVID-19 Impact Assessment and Expected Recovery Curve
4. Aerospace & Defense C-Class Parts Market Segment Analysis (2017-2028) (US$ Million)
4.1. Aircraft-Type Analysis
4.1.1. Commercial Aircraft: Regional Trend and Forecast (US$ Million)
4.1.2. Regional Aircraft: Regional Trend and Forecast (US$ Million)
4.1.3. General Aviation: Regional Trend and Forecast (US$ Million)
4.1.4. Helicopter: Regional Trend and Forecast (US$ Million)
4.1.5. Military Aircraft: Regional Trend and Forecast (US$ Million)
4.2. Part-Type Analysis
4.2.1. Hardware Parts, Bearings: Regional Trend and Forecast (US$ Million)
4.2.2. Electronic Components: Regional Trend and Forecast (US$ Million)
4.2.3. Machined Parts: Regional Trend and Forecast (US$ Million)
4.3. Sales Channel-Type Analysis
4.3.1. Direct Sales: Regional Trend and Forecast (US$ Million)
4.3.2. Distributors Sales: Regional Trend and Forecast (US$ Million)
4.3.3. Part Broker Sales: Regional Trend and Forecast (US$ Million)
4.4. End-User-Type Analysis
4.4.1. OE Sales: Regional Trend and Forecast (US$ Million)
4.4.2. Aftermarket Sales: Regional Trend and Forecast (US$ Million)
4.5. Regional Analysis
5. Competitive Analysis
5.1. Market Consolidation Level
5.2. Competitive Landscape
5.3. Market Share Analysis
5.4. Product Portfolio Analysis
5.5. Geographical Presence
5.6. Strategic Alliances
5.7. Porter's Five Forces Analysis
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Aircraft Type
6.1.2. Market Attractiveness by Part Type
6.1.3. Market Attractiveness by Sales Channel Type
6.1.4. Market Attractiveness by End-User Type
6.1.5. Market Attractiveness by Region
6.1.6. Market Attractiveness by Country
6.2. Growth Matrix Analysis
6.3. Strategic Implications
6.4. Key Success Factors (KSFs)
7. Company Profile of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/smyx08
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KEYWORD:
INDUSTRY KEYWORD: DEFENSE AEROSPACE MANUFACTURING OTHER DEFENSE
SOURCE: Research and Markets
Copyright Business Wire 2023.
PUB: 04/20/2023 11:21 AM/DISC: 04/20/2023 11:20 AM
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