Top Opportunities In The Aircraft Parts And Maintenance Market Will Arise In The Civil Airplanes Manufacturing Segment
4 Jul, 2019
The top opportunities in the global aircraft and aircraft parts manufacturing and repair & maintenance market will arise in the civil airplanes manufacturing segment which will gain $76.3 billion of global annual sales by 2021, and in the USA, where an almost identical amount will be added to the overall market. Civil airplanes manufacturing was also the largest segment in the global aircraft manufacturing market with almost half the market share. The civil airplanes market consists of sales of airplanes for civilian purposes by companies that manufacture aircrafts for civilian purposes. This industry consists of companies involved in the development and manufacturing of aircraft for commercial passenger and cargo transportation, governments, surveillance and observation, and aerial refueling purposes. This segment also includes private companies’ sales of equipment for space missions.
The civil airplanes maintenance, repair, maintenance & overhaul segment will put on the second highest value at $30.7 billion in terms of global annual sales gain.
To take advantage of these opportunities, companies in the market are investing in mergers and acquisitions to expand operations in countries such as the USA. Lockheed Martin, a major player in the aircraft and aircraft parts manufacturing and repair & maintenance market, aims to increase its market share in the aerospace and defense market through acquisitions of companies in similar industries. In 2017, the company acquired Sikorsky Aircraft Corporation, a USA based aircraft manufacturing company, to increase its presence in new markets.