The selection of the best parts is important in the aerospace and defense industries. It affects numerous phases of the aircraft's performance, from design to disposal, such as structural efficiency, flight performance, safety and reliability, lifecycle cost, recyclability, payload, energy consumption, and more. "Fasteners" is the fastest-growing product segment during the forecast period because of the high consumption of fasteners such as rivets, bolts, screws, washers, nuts, seals, and rings used as significant components in the assembly of aircraft parts. Also, the demand for aerospace and defense c-class parts in aviation applications is increasing because of the rising emphasis on improving the comfort and safety of aircraft during the forecast period.
Data Bridge Market Research shows that the Aerospace and Defense C Class Parts Market accounted for USD 16.77 billion in 2021 and is expected to reach USD 24.78 billion by 2029. The market is expected to grow with a CAGR of 5.00% in 2022-2029.
"Increasing defense expenditures is expected to drive the market growth"
Military spending has augmented significantly in the last few years globally. According to the Stockholm International Peace Research Institute report, global military expenditure increased by approximately 2.6 percent from 2017 to 2018. The increase in defense expenditure is projected to enhance the demand for technologically advanced aircraft such as fighter jets, helicopters, and transport aircraft. As a result, increasing the demand for aerospace and defense C class parts is anticipated to propel the market's growth during the forecast period.
What restraints the growth of the aerospace and defense c class parts market?
"High prevalence of non-trusted manufacturers"
Aerospace and defense systems use field programmable gate arrays (FPGAs). The presence of non-trusted manufacturers for field programmable gate arrays (FPGA) chips is hindering the growth of the global aerospace and defense C class parts market from 2022 to 2029.
Segmentation: Global Aerospace and Defense C Class Parts Market
The aerospace and defense c class parts market is segmented on the basis of product, application, end-use, distribution channel and aircraft type.
- On the basis of product, the aerospace and defense c class parts market is segmented into fasteners, bearings, electrical parts, machined parts.
- Based on application, the aerospace and defense c class parts market is segmented into engine, aerostructure, interiors, equipment, safety, and support; avionics.
- On the basis of end-use, the aerospace and defense c class parts market is segmented into commercial, military, business and general aviation, others.
- On the basis of distribution channel, the aerospace and defense c class parts market is segmented into oem, aftermarkets.
- Based on aircraft type, the aerospace and defense c class parts market is segmented into commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft.
Regional Insights: North America is expected to dominate the aerospace and defense C class parts market
North America is expected to dominate the market and is expected to grow significantly because of rapid growth in the production of interior cabin components in this region. Moreover, the increasing prevalence of well-established aviation and evolving defense industries will further increase the growth of this region's aerospace and defense C class parts market.
In addition, Asia-Pacific is likely to register the highest growth rate during the forecast period of 2022-2029 because of increasing military spending in this region. Furthermore, rising levels of disposable income of the people and increasing demand for military aircraft are other major factors that will further increase the market growth in this region.
Recent Developments: Global Aerospace and Defense C Class Parts Market
- In 2020, Avantus Aerospace, formerly known as SHIMTECH INDUSTRIES, announced the acquisition of Fastener Innovation Technology Corporation (FIT) with Avantus, a leading company for Composite and C-Class parts in the aerospace and defense industry. The company said that FIT's takeover would enable them to capitalize on the continuing growth potential in the C-class and fastener spaces.
- In 2020, Pattonair, a leading supply chain supplier in the aerospace and defense sector, deployed its advanced Zero-Lead-Time Agile Vending solution for the aero-engine component specialist UMW Aerospace. This product can help to optimize efficiency and decrease downtime and operational disruption.
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-aerospace-and-defense-c-class-parts-market
The Prominent Key Players Operating in the Aerospace and Defense C Class Parts Market Include:
- Eaton (Ireland)
- NTN BEARING CORPORATION OF AMERICA (U.S.)
- Amphenol Aerospace (U.S.)
- Berkshire Hathaway Inc., (U.S.)
- Arconic (U.S.)
- RBC Bearings Incorporated (U.S.)
- Stanley Black & Decker, Inc. (U.S.)
- TriMas (U.S.)
- National Aerospace Fasteners Corporation (Taiwan)
- LISI AEROSPACE (France)
- Triumph Group (U.S.)
- Safran (France)
- SKF (Sweden)
- TE Connectivity (Switzerland)
- Satcom Direct, Inc. (U.S.)
- Boeing (U.S.)
- Airbus S.A.S (France)
- Embraer (Brazil)
- ATR (France)
- Lockheed Martin Corporation (U.S.)
- Textron Aviation Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of aerospace and defense C class parts market companies contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Aerospace and Defense C Class Parts Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
