Aerospace and Defense C-Class Parts Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 – 2030
The Global Aerospace and Defense C-Class Parts Market Size accounted for USD 16.9 Billion in 2021 and is projected to achieve a market size of USD 25.6 Billion by 2030 rising at a CAGR of 4.8% from 2022 to 2030. Increasing aircraft fleet across the world is a primary factor that is driving the aerospace and defense c-class parts industry growth. In addition, the rising demand for robust and durable products in the aerospace and defense sector is another factor boosting the market revenue.
Aerospace and Defense C-Class Parts Market Report Statistics
- Global aerospace and defense c-class parts market revenue is estimated to reach USD 25.6 Billion by 2030 with a CAGR of 4.8% from 2022 to 2030
- North America aerospace and defense c-class parts market share accounted for over 41% shares in 2021
- Asia-Pacific aerospace and defense c-class parts market growth will register quick CAGR from 2022 to 2030
- Based on product, fasteners acquired over 44% of the overall market share in 2021
- Growing passenger traffic will fuel the global aerospace and defense c-class parts market value
- A surge in defense spending is a popular aerospace and defense c-class parts market trend that is fueling the industry demand
Factors such as fluctuating raw material prices and availability of alternatives such as adhesives replacing mechanical parts are factors expected to hamper the growth of global aerospace & defense c-class parts market. In addition, high competitive rivalry among players and operation on low profit ratio is expected to challenge the growth of target market. However, increasing air travel from consumers, rising demand for fuel efficient airplanes, and focus on development of low cost raw material for mechanical products are factors expected to create new opportunities for players operating in the global aerospace & defense c-class parts market over the forecast period. In addition, increasing partnership between regional and international players is expected to support the revenue transaction of the target market.
Global Aerospace and Defense C-Class Parts Market Dynamics
Market Drivers
- Flourishing airline sector
- Growing defense expenditure by numerous countries
- Surging demand for reliable parts in aerospace and defense sector
Market Restraints
- Fluctuating raw material prices
- Availability of alternatives
Market Opportunities
- Rising demand for fuel efficient airplanes
- Increasing partnership between regional and international players
Aerospace and Defense C-Class Parts Market Report Coverage
| Market | Aerospace and Defense C-Class Parts Market |
| Aerospace and Defense C-Class Parts Market Size 2021 | USD 16.9 Billion |
| Aerospace and Defense C-Class Parts Market Forecast 2030 | USD 25.6 Billion |
| Aerospace and Defense C-Class Parts Market CAGR During 2022 - 2030 | 4.8% |
| Aerospace and Defense C-Class Parts Market Analysis Period | 2018 - 2030 |
| Aerospace and Defense C-Class Parts Market Base Year | 2021 |
| Aerospace and Defense C-Class Parts Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By Application, By End-Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Amphenol Corp., LMI Aerospace, Inc., RCB Bearings, Inc., Trimas Corp., LiSi Aerospace, Precision Castparts Corp., Safran SA, Arconic, Inc., Triumph Group, and Eaton Corp. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Aerospace and Defense C-Class Parts Market Growth Factors
Flourishing airline sector across the globe, rising defense spending by countries and demand for reliable parts from airplane manufacturer are major factors expected to drive the growth of global aerospace & defense c-class parts market. Government of developed and developing countries is spending high in the development of enhanced and effective aircrafts in order to enhance the customer experience. Aerospace & defense sale is witnessing high rise among different states in the US. Statewide the A&D industry sale was US$ 137 Bn in 2019. The state’s contribution towards the sale is increasing as compared to previous year such as Wyoming (21%), Vermont (15%), South Carolina (12%), Missouri (11%), and Nevada (11%). Government is providing various contracts to help states gain high momentum. In 2018, According to Department of Defense, more than US$358 billion in contract payments were made across all fifty states and the District of Columbia.
According to our aerospace and defense c-class parts industry analysis, these factors are expected to impact the growth of target market. As one of the highest revenue generation industry for the government the sector is witnessing rapid advancements and high investments. In 2019, aerospace & defense sector contributed US$ 17.6 Bn revenue to the state and local tax departments also US$ 46 Bn to the federal tax department. Presence of large number of players operating in the country and introduction of new products is positively impacting the market. Favorable business policies by the government and increasing spending on airline sector are expected to support the market growth. According to Department for Promotion of Industry and Internal Trade (DPIIT), FDI inflow in India’s air transport sector (including air freight) reached US$ 2.95 billion between April 2000 and March 2021.
Aerospace and Defense C-Class Parts Market Segmentation
The global aerospace & defense c-class parts market is segmented into product, application, and end-use. The product segment is divided into fasteners, bearings, electrical, and machined parts. Among products, the fasteners segment is expected to account for major revenue share in the global aerospace & defense c-class parts market. Airframe, interiors, engine, and system are covered in the application segment. Furthermore, the end-use segment is bifurcated into commercial, military, and business & general aviation.
Aerospace and Defense C-Class Parts Market By Product
- Fasteners
- Bearings
- Electrical
- Machined Parts
Aerospace and Defense C-Class Parts Market By Application
- Airframe
- Interiors
- Engine
- System
Aerospace and Defense C-Class Parts Market By End-Use
- Commercial
- Military
- Business & General Aviation
- Others
Aerospace and Defense C-Class Parts Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
Aerospace and Defense C-Class Parts Market Regional Analysis
The market in Asia-Pacific is expected to witness faster growth in the target market due to rising demand for enhanced aircraft. Increasing consumer preference for air travel and evolving airline business is expected to augment the growth of target market. Enterprises inclination towards enhancing the business in developing countries through partnership is expected to support the growth of target market in this region.
Aerospace and Defense C-Class Parts Market Players
Players operating in the global aerospace & defense c-class parts market are Amphenol Corp., LMI Aerospace, Inc., RCB Bearings, Inc., Trimas Corp., LiSi Aerospace, Precision Castparts Corp., Safran SA, Arconic, Inc., Triumph Group, and Eaton Corp. The global aerospace & defense c-class parts market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Enterprise focus towards business acquisition and securing contracts are factors expected to boost the regional market growth.
- In 2021, LISI AEROSPACE, a global design and manufacture of high tech fasteners and structural components for aerospace signed an extension contract with Boeing Company. Under this agreement the company is expected to deliver Boeing Company with 6,000 different part numbers in support of all Boeing Commercial programs (737, 747, 767, 777, and 787). This contract is expected to help company increase the revenue share.
- In 2021, Amphenol Corporation, a global manufacturer and service provider of high reliability electronic connector acquired Positronic. The acquisition is expected to help company enhance the product portfolio and increase the customer base.
- In 2020, the company also acquired MTS Systems Corporation, a global supplier of advanced test systems, motion simulators and precision sensors. This acquisition is expected to help company enhance its product offering and increase the customer base.
Frequently Asked Questions
What is the size of global aerospace and defense c-class parts market in 2021?
The market size of aerospace and defense c-class parts market in 2021 was accounted to be USD 16.9 Billion.
What is the CAGR of global aerospace and defense c-class parts market during forecast period of 2022 to 2030?
The projected CAGR of aerospace and defense c-class parts market during the analysis period of 2022 to 2030 is 4.8%.
Which are the key players operating in the market?
The prominent players of the global aerospace and defense c-class parts market are Amphenol Corp., LMI Aerospace, Inc., RCB Bearings, Inc., Trimas Corp., LiSi Aerospace, Precision Castparts Corp., Safran SA, Arconic, Inc., Triumph Group, and Eaton Corp.
Which region held the dominating position in the global aerospace and defense c-class parts market?
North America held the dominating aerospace and defense c-class parts during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for aerospace and defense c-class parts during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global aerospace and defense c-class parts market?
Flourishing airline sector, growing defense spending by numerous countries, and surging demand for reliable parts in aerospace and defense sector drives the growth of global aerospace and defense c-class parts market.
Which product held the maximum share in 2021?
Based on product, fasteners segment is expected to hold the maximum share aerospace and defense c-class parts market.
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