Global Aerospace And Defense Components Market Segments 2024, Forecast To 2033
5 Mar, 2024
The aerospace and defense components market has witnessed rapid growth, increasing from $59.59 billion in 2023 to $66.42 billion in 2024, at an 11.4% compound annual growth rate (CAGR). The historic growth is attributed to global military spending, commercial aviation growth, geopolitical tensions, space exploration initiatives, upgrades and modernization, and cybersecurity concerns. The market is projected to continue rapid growth, reaching $98.92 billion in 2028, with a 10.5% CAGR. The forecasted growth is driven by factors such as increasing global threats, space commercialization, renewable energy in aviation, additive manufacturing, electronics miniaturization, and trends including additive manufacturing and 3D printing.
Global Aerospace And Defense Components Market Key Driver
The aerospace and defense components market is poised for growth with the rising number of air travelers. The International Air Transport Association reports strong demand growth in air travel, indicating a need for efficient and high-performance components in modern aircraft to meet the demands of increased air travelers.
Get A Free Sample Of The Global Aerospace And Defense Components Market ReportGlobal Aerospace And Defense Components Market Segments
The aerospace and defense components market covered in this report is segmented –
1) By Product: Aluminum, Titanium, Composites, Superalloys, Steel, Plastics, Other Products
2) By Application: Engine, Aerostructure, Interiors, Equipment, System And Support, Avionics
3) By End User: Commercial, Business And General Aviation, Military, Other Users
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the aerospace and defense components market in 2023. Asia-Pacific is expected to be the fastest-growing region in the aerospace and defense components market report during the forecast period. The regions covered in the aerospace and defense components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Aerospace And Defense Components Industry Players
Arconic Inc.; AMI Metal Inc.; Constellium SE; Cytec Solvay SA; DowDuPont Inc.; Hexcel Corporation; Huntsman International LLC; Kobe Steel Ltd.; Koninklijke Ten Cate B.V.; Materion Corporation; Saudi Basic Industries Corporation; Sofitec Aero S.L.; TATA Advanced Materials Limited; Teijin Ltd.; Toray Composites America Inc.; The Boeing Company; Airbus SE; Raytheon Technologies Corporation; Northrop Grumman Corporation; General Dynamics Corporation; Lockheed Martin Corporation; BAE Systems plc; Safran S.A.; Rolls-Royce Holdings plc; Honeywell International Inc.; United Technologies Corporation; L3Harris Technologies Inc.; Textron Inc.; Bombardier Inc.; Spirit AeroSystems Inc.; Mitsubishi Heavy Industries Ltd.; General Electric Aviation; Eaton Corporation plc; Woodward Inc.; JAMCO Corporation
Get The Full Global Aerospace And Defense Components Market ReportAIOps Aerospace And Defense Components Market Overview
Aerospace and defense components refer to parts that are produced to be involved in the manufacture and service of commercial aircraft, military defense, and space. These components are produced with the exact tolerances for their missions. They are used for the production of commercial and military aircraft, and even satellites.
Aerospace And Defense Components Global Market Report 2023 provides data on the global aerospace and defense components market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aerospace and defense components market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.