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

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.