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Aerospace C-Class Parts Market to Reach US$ 12.9 billion in 2023

 


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Aerospace and Defense C-Class Parts Market: Highlights The global aerospace & defense c-class parts market offers a healthy growth opportunity over the next five years and will reach an estimated value of US$ 12.9 billion in 2023. Increasing commercial and regional aircraft deliveries, increasing the share of wide-body aircraft in commercial aircraft deliveries, increasing aircraft fleet size, an advancement in technology, and rising demand for lightweight and high corrosion-resistant fasteners are the key factors that are proliferating the demand for c-class parts in the aerospace & defense industry. C-Class parts in the aerospace & defense industry are low cost and high-volume commodity parts, such as fasteners and bearings. The global aerospace & defense c-class parts market is segmented into four major heads which are Hardware Parts, Bearing Parts, Electronic Components, and Machined Parts.

The hardware parts segment is expected to remain dominant in the global aerospace & defense c-class parts market over the next five years, mainly driven by the demand for fasteners and bolts. Global Aerospace & Defense C-Class Parts Market - Insights by Aircraft Type: Commercial aircraft is likely to remain the largest aircraft type in the global aerospace & defense c-class parts market during the forecast period. The aircraft type is also likely to witness the highest growth during the same period.

Increasing production rates of key programs, such as B737 and A320 family; market entry of new players, such as COMAC; upcoming aircraft programs or introduction of variants of existing programs, such as B737max and COMAC C919; and rising commercial aircraft fleet are the major factors that are driving the demand for c-class parts in the segment. Global Aerospace & Defense C-Class Parts Market - Insights by Region: North America is expected to remain the leading region in the aerospace & defense c-class parts market during the forecast period. The region is the manufacturing capital of the aerospace & defense industry with the presence of several large- to small-sized OEMs, tier players, distributors, c-class part manufacturers, and airline companies. The supply chain of this market comprises raw material manufacturers, c-class part manufacturers, distributors, tier players, aerospace OEMs, and airline companies. The key distributors are Wesco Aircraft, Kellstrom industries, and Aviall Services. The key aerospace OEMs are Boeing, Airbus, COMAC, Bombardier, Embraer, ATR, Lockheed Martin, Cessna, and Gulfstream.

The key aerospace & defense c-class part manufacturers are Arconic Corporation, Precision Castparts Corporation, Lisi Aerospace, Amphenol Corporation, Eaton Corporation, Stanley Black & Decker, TriMas Corporation, and RBC Bearings Incorporated. New product development, collaboration with tier players and OEMs, and formation of long-term contracts are the key strategies adopted by the major players to gain a competitive edge in the market. Source: https://www.stratviewresearch.com/146/aerospace-&-defense-c-class-parts-market.html.

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