Aerospace Parts Manufacturing Market To Reach $1,620.00 Billion by 2033

The report “Aerospace Parts Manufacturing Market By Product Type (Engine Components, Aerostructures, Avionics, Landing Gear Systems, Cabin Interiors, Electrical Systems, Control Systems), By Aircraft Type (Commercial Aircraft, Military Aircraft, Business Jets, Helicopters, Unmanned Aerial Vehicles (UAVs), General Aviation), By Manufacturing Process (CNC Machining, Additive Manufacturing (3D Printing), Casting, Forging, Injection Molding, Composite Fabrication) and By End User (Aluminum Alloys, Titanium Alloys, Steel Alloys, Composite Materials, Superalloys)” is expected to reach USD 1,620.00 billion by 2033, registering a CAGR of 6.80% from 2026 to 2033, according to a new report by Transpire Insight.

The Aerospace Parts Manufacturing Market is a key segment of the overall aviation industry supply chain, including the production of structural assemblies, propulsion parts, avionics, interior systems, and precision-engineered parts used in commercial, military, and general aviation aircraft. The Aerospace Parts Manufacturing Market is characterized by a heavily regulated environment, where safety, certification, and performance requirements directly affect manufacturing cycle times and supplier qualification procedures. Growing aircraft production rates and order backlogs are expected to strengthen long-term demand visibility for component suppliers worldwide. Growing air passenger traffic, especially in developing countries, is fueling constant aircraft fleet growth and replacement of older aircraft with more fuel-efficient aircraft. At the same time, defense modernization initiatives in major countries are sustaining military aircraft and unmanned vehicle procurements, fueling constant production of high-performance structural and propulsion parts.

Technological change remains a key market trend. The integration of additive manufacturing, automated CNC machining, advanced composite fabrication, and digital quality inspection systems is enhancing manufacturing efficiency and minimizing material waste. Suppliers are increasingly using high-performance materials like titanium alloys, superalloys, and carbon fiber composites to satisfy demanding performance and durability specifications. Aftermarket services like maintenance, repair, and overhaul further enhance market stability by providing recurring revenue streams. As the airline industry focuses on maximizing efficiency and minimizing costs, the demand for approved replacement parts and enhanced systems continues to grow. This two-way market, driven by both OEM production and aftermarket support, provides the foundation for future market growth.

The Engine Components segment is projected to witness the highest CAGR in the Aerospace Parts Manufacturing during the forecast period.

According to Transpire Insight Engine Components continue to be the most prominent segment because of their high value concentration and complexity. Today’s aircraft engines are designed to work in extreme temperatures and pressures, necessitating the use of cutting-edge superalloys, sophisticated machining, and stringent testing requirements. The never-ending quest for increased fuel efficiency and lower emissions has further spurred investment in turbine blades, combustion systems, and digital engine control units. With the next-generation narrow-body and wide-body aircraft programs entering mass production, engine component manufacturers enjoy the benefits of long-term contracts and high-margin services.

Moreover, the life cycle of engine systems extends far beyond the initial delivery of the aircraft, providing a steady stream of replacements and maintenance. The adoption of performance-based service contracts by the airlines further enhances the revenue visibility of engine component manufacturers. The growing adoption of hybrid and more-electric propulsion systems is also expected to raise the stature of this segment within the overall aerospace manufacturing value chain.

The Commercial Aircraft segment is projected to witness the highest CAGR in the Aerospace Parts Manufacturing during the forecast period.

Commercial Aircraft leads the aircraft type segment due to large production numbers and the growing need for air travel worldwide. Large order backlogs for single-aisle aircraft platforms continue to fuel demand for structural components, avionics systems, and propulsion parts. The growing need for fuel-efficient aircraft to meet cost and emission requirements is also impacting parts manufacturing priorities.

The segment is further fueled by the strong aftermarket environment, as commercial aircraft need regular maintenance cycles and component replacements to maintain operational integrity. The growing need for low-cost carriers and regional air connectivity in the Asia Pacific and Middle East regions further fuels production. As such, commercial aircraft production continues to be the key volume driver in the aerospace parts supply chain

The CNC Machining segment is projected to witness the highest CAGR in the Aerospace Parts Manufacturing during the forecast period.

According to Transpire Insight, CNC Machining is at the forefront of the manufacturing process technology due to its unparalleled accuracy, reproducibility, and conformance to aerospace-grade tolerances. High-performance components like engine housings, landing gear components, and structural connectors need multi-axis machining solutions to achieve tight tolerance requirements. Increasing automation and digitalization are currently improving processing rates without compromising quality consistency.

Although there is increasing interest in additive manufacturing, CNC machining remains the leading technology for high-strength metal component production. The scalability of CNC machining technology, combined with existing certification processes, ensures its continued viability in commercial as well as military aircraft projects. Its versatility in working with aluminum, titanium, steel, and superalloys further cements its leading market position.

The Aluminum Alloys segment is projected to witness the highest CAGR in the Aerospace Parts Manufacturing during the forecast period.

Aluminum Alloys continue to be the leading material segment because of their desirable strength-weight ratio, cost-effectiveness, and existing supply chain. They are widely employed in the manufacture of aircraft panels, wings, and internal structures for various types of aircraft. Their ease of machining and corrosion resistance properties make them ideal for large-scale production.

Although composite materials are increasingly being used in modern aircraft variants, aluminum alloys continue to retain their leading position in the traditional aircraft production industry. Continuous marginal advancements in aluminum alloy composition and manufacturing technology are improving their resilience and fatigue life.

The North America region is projected to witness the highest CAGR in the Aerospace Parts Manufacturing during the forecast period.

North America currently has the strongest regional base, thanks to the presence of a strong OEM and Tier 1 supplier base, as well as advanced manufacturing capabilities. The region enjoys the benefits of high defense expenditure, continuous commercial aircraft production, and a well-developed MRO base. The presence of vertically integrated supply chains improves production efficiency and innovation capabilities.

The United States, in particular, is the main driver of the region’s leadership in aircraft assembly programs, propulsion system development, and ongoing aerospace R&D investments. At the same time, the Asia Pacific region is the fastest-growing region, thanks to the expansion of airline fleets, country-led aircraft manufacturing programs in China and India, and the localization of suppliers.

Key Players

The top 15 players in the Aerospace Parts Manufacturing market include GE Aerospace, Pratt & Whitney, Rolls-Royce plc, Honeywell International Inc., Safran SA, Eaton Corporation plc, Woodward Inc., JAMCO Corporation, MTU Aero Engines AG, Collins Aerospace, Kawasaki Heavy Industries Ltd., Ducommun Incorporated, Spirit AeroSystems Holdings Inc., Triumph Group Inc., and Aequs Private Limited.

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