Exponential growth of the commercial aircraft sector has been driving aerospace & defense C-class parts market

Ocean View, DE -- (SBWire) -- 06/24/2020 --Exponential growth of the commercial aircraft sector has been driving aerospace & defense C-class parts market. Passenger aircrafts orders have witnessed sharp gains owing to the rise in consumer spending on air travel complemented by the minimized air fares for shifting focus on middle class population.

Strong economic growth of the emerging nations led to improved standard of living, thereby expanding consumer base of the airline industry. Furthermore, the aerospace & defense industry adheres to stringent regulation concerning the safety of the aircraft operations, which requires timely maintenance and repair of the aircrafts. This would in turn, further strengthen aerospace and defense C-class parts market forecast owing to the increasing commercial air traffic.

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Constant increase in defense budget attributed to the rise in geopolitical tensions has led to an arms battle among some of the major economies like Russia, United States, China, and India. A flagship aviation magazine, Aviation Week, predicts that in-service fleet aircrafts will increase significantly by the end of 2027. Reportedly there were 41,605 in service aircrafts in 2017 which are expected to grow by 1,230 by 2027. Moreover, there is demand for 834 aircrafts and helicopters by multiple defense forces around the globe.

Company profiled in aerospace and defense c-class parts market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Amphenol
- Precision Castparts
- Arconic
- Eaton
- RBC Bearings
- Stanley Black & Decker, Inc.
- TriMas Corporation
- LISI AEROSPACE
- Triumph Group
- Safran
- SKF Group
- TE Connectivity

In terms of adopting emerging technology for providing lightweight components and increasing the use of energy efficient materials, aviation sector is one of the leading drivers of innovation. Many airline operators are relying on OEM suppliers for parts and service expertise and are gradually shifting their strategies towards service-based models that aid in generating profitable revenues.

The trend has also encouraged OEMs to expand their production capacities to meet customer demands. Recently in July 2019, Safran SA, a French multinational aircraft engine, had unveiled the plans to construct a new aircraft carbon brake plant in Feyzin near Lyon, France. This new plant will bolster the production volume of Safran Landing Systems and will also set a new standard in environment-friendliness.

Prominent reports reveal that the aftermarket segment held about 70% of global aerospace and defense c-class parts market share. The role of OEMs is also gaining considerable traction due to increasing penetration in MRO market and the ability to serve customers according to their requirements. Driven by such initiatives, aerospace & defense c-class parts industry is anticipated to garner significant revenues over the forecast timeline.

North America accounted for more than 45% overall Aerospace and defense c-class parts market share in 2018, owing to the presence of major aircraft and engine manufacturers including Boeing and Lockheed Martin. Ever expanding investment in the military and other defense activities will further propel the product demand over the years ahead. In fact, North America is anticipated to dominate the global aerospace and defense c-class parts market landscape over the forecast period.

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Aerospace and defense c-class parts market in Asia Pacific is likely to emerge as a strong regional contender due to vast developments in the aerospace sector, rapid industrialization and increased penchant for air travel. In fact, the International Air Transport Association predicts that over 50% of new air passengers will be in this region over next 20 years.

Some Points From Table Of Content: -

Chapter 4. Aerospace and Defense C-class Parts Market, By Part Family/Component
4.1. Global aerospace and defense C-class parts market component insights
4.2. Fasteners
4.2.1. Global market estimates and forecast, 2014 – 2025
4.2.2. Global market estimates and forecast, by region, 2014 - 2025
4.3. Bearings
4.3.1. Global market estimates and forecast, 2014 – 2025
4.3.2. Global market estimates and forecast, by region, 2014 - 2025
4.4. Electrical
4.4.1. Global market estimates and forecast, 2014 – 2025
4.4.2. Global market estimates and forecast, by region, 2014 - 2025
4.5. Machined parts
4.5.1. Global market estimates and forecast, 2014 – 2025
4.5.2. Global market estimates and forecast, by region, 2014 - 2025

Chapter 5. Aerospace and Defense C-class Parts Market, By Application
5.1. Global aerospace and defense C-class parts market application insights
5.2. Airframe
5.2.1. Global market estimates and forecast, 2014 – 2025
5.2.2. Global market estimates and forecast, by region, 2014 - 2025
5.3. Interiors
5.3.1. Global market estimates and forecast, 2014 – 2025
5.3.2. Global market estimates and forecast, by region, 2014 - 2025
5.4. Engine
5.4.1. Global market estimates and forecast, 2014 – 2025
5.4.2. Global market estimates and forecast, by region, 2014 - 2025
5.5. System
5.5.1. Global market estimates and forecast, 2014 – 2025
5.5.2. Global market estimates and forecast, by region, 2014 - 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/aerospace-defense-c-class-parts-market

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