The aerospace support and auxiliary equipment market has seen considerable growth due to a variety of factors.
• The market for aerospace support and auxiliary equipment has seen substantial growth in the past few years. There is an anticipated increase from $31.55 billion in 2024 to $33.39 billion in 2025, corresponding to an annual compound growth rate (CAGR) of 5.8%.
This rise during the historic period is ascribed to factors such as worldwide economic conditions, defense spending, demands in commercial aviation, and space exploration.
The aerospace support and auxiliary equipment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of aerospace support and auxiliary equipment is anticipated to experience consistent growth. The market is projected to expand to $40.07 billion by 2029 at a compound annual growth rate (CAGR) of 4.7%.
The growth during this forecast period can be linked to factors such as increasing demand for air travel, environmental regulations, the emergence of new markets, commercialization of space, and defense expenditure. The forecast period will also witness major trends such as electrification and lightweighting, the use of advanced materials, additive manufacturing processes, digitalization and connectivity, as well as collaborative efforts and partnerships.
The growth of the aerospace support and auxiliary equipment market is anticipated to be fueled by the rising demand for air travel. Vehicles that have the capability of maintaining flight, such as helicopters, airplanes, jet aircraft, and any other flyable object, are involved in air travel. The process involves boarding an aircraft to fly and disembarking after the flight. The development and maintenance of aircraft are stimulated by air travel, this includes air traffic control equipment, aircraft production equipment, safety gear and other related products and services. For illustration, a report from the Bureau of Transportation Statistics, a government agency in the US, revealed in March 2023 that in 2022, 194 million more passengers were transported by US airlines compared to 2021, signifying a 30% increase year on year. Throughout 2022, from January to December, the number of passengers handled by US airlines was 853 million (unadjusted), a rise from 658 million in 2021 and 388 million in 2020. Therefore, due to the increasing demand for air travel, the aerospace support and auxiliary equipment market is experiencing growth.
The aerospace support and auxiliary equipment market covered in this report is segmented –
1) By Type: Commercial Radars, Satellites
2) By Ownership: Public, Private
3) By Platform: Airborne, Land, Naval, Space
Subsegments:
1) By Commercial Radars: Ground-Based Radars, Airborne Radars, Space-Based Radars
2) By Satellites: Communication Satellites, Earth Observation Satellites, Navigation Satellites, Remote Sensing Satellites
The advancement in wireless technology and the creation of smaller parts for equipment due to miniaturization are projected to stimulate novelty in the defense market, thereby propelling its growth in the forecasted period. In addition, technologies like 3D printing, artificial intelligence, and big data analytics are employed in the manufacturing procedures, leading to increased productivity, reduced operational costs, and improved profit margins. The drop in operational costs leads to higher profit margins, enabling companies to upscale their production and enhance their product line, thereby contributing to the growth of the aerospace support and auxiliary equipment market.
Major companies operating in the aerospace support and auxiliary equipment market include:
• Lockheed Martin Corporation
• Northrop Grumman Corporation
• Raytheon Inc.
• Reutech Radar Systems Pty Ltd.
• Rockwell Collins Inc.
• Boeing Airplane & Transport Corporation
• Airbus Group Inc.
• Safran Aerosystems
• General Electric Aircraft Engines
• Rolls-Royce Motors Holdings Ltd.
• Leonardo UK Ltd.
• Honeywell International Inc.
• BAE Systems Inc.
• L3 Technologies Inc.
• Bombardier Inc.
• Spirit AeroSystems Inc.
• Public Joint-Stock Company United Aircraft Corporation
• MTU Aero Engines AG
• Empresa Brasileira De Aeronáutica
• GKN Aerospace Services Ltd.
• Israel Aerospace Industries Ltd.
• Triumph Group Inc.
• Torry Harris Integration Solutions
• Collins Aerospace Systems
• Thales SA
• General Electric Company Ltd.
• United Technologies Corporation India Pvt Ltd.
• Textron Inc.
• Eaton Corporation PLC
• Moog Inc.
• Woodward Inc.
Asia-Pacific was the largest region in the aerospace support and auxiliary equipment market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the aerospace support and auxiliary equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.