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Increased passenger traffic is likely to stimulate innovation in aerospace components production, propelling the market during the forecast period.

The global aerospace parts manufacturing market is expected to grow from $903.18 billion in 2022 to $938.40 billion in 2023 at a compound annual growth rate (CAGR) of 3.90%. The global aerospace parts manufacturing market is expected to reach $1,124.34 billion in 2027 at a CAGR of 4.62%.

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Global Aerospace Parts Manufacturing Market Segments Include:

• By Product: Engines, Aerostructure, Cabin Interiors, Equipment, System and Support, Avionics, Insulation Components
• By Application: Interior, Propulsion Systems
• By End Use: Commercial Aircraft, Business Aircraft, Military Aircraft, Other Uses

• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global aerospace parts manufacturing market in 2021.

Major Market Players in the aerospace parts manufacturing market include Jamco Corporation, Intrex Aerospace, Rolls Royce Plc., CAMAR Aircraft Parts Company, Safran S.A., Woodward Inc., Eaton Corporation Plc.

Technological developments are a common trend in the aircraft parts manufacturing market. To enhance their position in the aircraft parts manufacturing sector, major corporations are focusing on developing innovative technological solutions. Plataine Ltd., an Israel-based developer of AI-based industrial optimisation solutions, for example, announced the ‘FabricOptimizer’ solution in January 2023, a new AI-based solution with a nesting around defect solution. It is built with AI-based technology that allows manufacturers to automatically select numerous options and material quantities, resulting in the best optimised cut plan for certain kits. It contributes to aerospace production by tackling supply chain and manpower concerns through complete process automation and material utilisation.

The Aerospace Parts Manufacturing Global Market Report 2023  provides a aerospace parts manufacturing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aerospace parts manufacturing market forecast analyzes aerospace parts manufacturing market size, aerospace parts manufacturing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The fabrication of aircraft engines, propulsion systems, auxiliary equipment, and their parts is referred to as aerospace parts manufacturing. They are involved in the production, development, selling, testing, and maintenance of aircraft. They are utilised in the production of aerospace components used in the construction of aeroplanes.

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