DELAWARE CITY, Del., June 21, 2021 (Newswire.com) - According to the latest report by Global Market Insights Inc., "Aerospace & Defense C-class Parts Market by Component (Fasteners, Bearings, Electrical, Machined Parts), Application/Work Package (Airframe, System, Engine, Interiors), Distribution Channel (OEM, Aftermarkets), End User (Commercial, Military & Defense, Spacecraft), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", the market valuation of aerospace and defense C-class parts will cross $15.8 billion by 2027. Commercial and military activities are significantly increasing in the aircraft industry, supporting the market growth during the forecast timeframe.
The bearing segment in the aerospace and defense C-class parts market will witness more than a 5% growth rate through 2027 on account of its increasing utility over a wide range of aerospace applications, such as landing gear, flight controls and engines, passenger seating, and other made-to-measure applications. Long-haul air travel needs a wide-body aircraft, which influences the sales of aerospace bearings. New technologies, including robotics/autonomous systems, Artificial Intelligence (AI), and sensor technologies, will push the industry toward the adoption of digital innovation, leading to an increased demand for c-class parts in aircraft systems, which is expected to reach over USD 2.8 billion by the end of 2027. Military and spacecraft systems are complex. These systems include flight controls, bleed systems, landing gear, hydraulics, and avionics, which are likely to foster the industry growth in the coming years.
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OEMs are the one-stop solution to the requirements of aircraft manufacturers, including maintenance works. The Asia Pacific aerospace and defense C-class parts market is projected to expand at a CAGR of 5% by 2027, owing to the increasing air traffic in conjunction with periodic Maintenance, Repair, and Overhaul (MRO) requirements across countries including China and India. The spacecraft segment offers a significant revenue share with a moderate growth potential. Growing space agencies, such as the Indian Space Research Organization and the Chinese space agency, are considerably expanding the market share.
Replacing mechanical fasteners by adhesives in the aerospace and defense industry can adversely impact the aerospace and defense C-class parts market expansion in the future as it can quickly replace traditional fasteners such as bolts, nuts, rivets, screws, pins and others.
The COVID-19 outbreak has caused disrupted supply chains, shortage of materials, and termination of contracts, which may create barriers to the market progression. Rapid increase of geographical routes and launching of new airlines may spur the revenue share during the forecast period.
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The numerous players involved in the aerospace and defense C-class parts market are Amphenol, Arconic, Stanley Black & Decker Inc., Eaton Corporation, RCB Bearings Incorporated, Precision Castparts Corporation, Trimas Corporation, National Aerospace Fasteners Corporation, SKF Bearings, and TE Connectivity.
Table of Contents (ToC) of the report:
Chapter 3 Aerospace & Defense C-Class Parts Market Insights
3.1 Industry segmentation
3.2 Industry size and forecast, 2017 - 2027
3.2.1 COVID-19 impact on industry landscape
3.3 Industry ecosystem analysis
3.4 Innovation & sustainability
3.4.1 Patent analysis
3.4.2 Production process
3.4.3 Future trends
3.5 Raw materials analysis
3.5.1 COVID-19 impact on raw materials
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfall & challenges
3.7 Regulatory trends
3.8 Growth potential analysis
3.9 Regional price trends
3.9.1 Cost structure analysis
3.9.2 Price by component
3.9.3 Price by application
3.9.4 Price by distribution channel
3.9.5 Price by end-user
3.9.6 COVID-19 impact on pricing
3.10 Competitive landscape
3.11 Porters analysis
3.12 PESTEL analysis
3.13 COVID-19 impact on aerospace & defense C-class parts demand
Browse the complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/aerospace-defense-c-class-parts-market
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth-consulting services. Our business intelligence and industry research reports offer clients penetrative insights and actionable market data specially designed and presented to aid strategic decision-making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights Inc.