The Latest Aerospace Parts Manufacturing Industry Statistics Explained
In 2020, the commercial aerospace segment held a 52% share of the aerospace parts manufacturing industry.
The statistic indicates that in the year 2020, the commercial aerospace segment accounted for 52% of the total market share within the aerospace parts manufacturing industry. This suggests that a significant portion of the industry’s activity and revenue was driven by the commercial aerospace sector, which includes the production of components and parts for commercial airplanes and related products. Consequently, this segment likely played a prominent role in shaping the overall dynamics and performance of the aerospace parts manufacturing industry during the specified time period, with implications for manufacturers, suppliers, and other stakeholders operating within this sector.
The structures product segment accounted for the largest revenue share of over 43.1% in 2020 within the Aerospace parts manufacturing market.
The statistic indicates that in 2020, the structures product segment held the largest share of revenue, accounting for over 43.1% within the Aerospace parts manufacturing market. This suggests that the production and sales of structures-related components, such as fuselages, wings, and other structural elements, generated the highest amount of revenue compared to other product segments in the industry. This could be due to increased demand for aircraft manufacturing or specific advancements in structural technologies driving growth in this particular segment. Overall, the dominance of structures in terms of revenue share highlights its significant contribution to the overall performance and market dynamics of the Aerospace parts manufacturing sector in 2020.
The industry also includes a 4.3% growth for the aircraft engine & engine parts segment from 2021 to 2028.
The statistic indicates that the aircraft engine and engine parts segment within the industry experienced a notable growth rate of 4.3% between 2021 and 2028. This growth suggests that the demand for aircraft engines and related parts is increasing over this time period. Such growth could be attributed to various factors, such as an expanding aviation market, technological advancements in engine design, or increased air travel demands. This statistic provides valuable insights for stakeholders in the aerospace industry, including manufacturers, suppliers, and investors, to understand and potentially capitalize on the growth opportunities in the aircraft engine segment.
The propulsion systems segment; which includes engines, is projected to register a CAGR of 3.8% during the forecast period.
This statistic implies that the propulsion systems segment, which consists mainly of engines used in various applications such as aviation, automotive, and marine industries, is expected to experience a Compound Annual Growth Rate (CAGR) of 3.8% over the forecast period. This suggests that the demand for propulsion systems, particularly engines, is anticipated to increase steadily over time. Factors driving this growth could include technological advancements in engine efficiency, expanding transportation and industrial sectors, and evolving environmental regulations requiring more fuel-efficient and environmentally friendly propulsion systems. This projection indicates a positive outlook for the propulsion systems market and suggests potential opportunities for companies operating in this sector to capitalize on the growing demand for engines.
The US aerospace manufacturing sector supported $459 billion to GDP in 2018.
The statistic that the US aerospace manufacturing sector supported $459 billion to GDP in 2018 indicates the significant economic impact of this industry on the overall output of the United States. This figure represents the total value of goods and services produced by the aerospace manufacturing sector within the US economy during that year. Given the scale of the industry and its interconnectedness with various other sectors such as transportation, technology, and defense, the contribution to GDP underscores the importance of aerospace manufacturing as a key driver of economic growth, innovation, and employment opportunities within the country. This statistic highlights the sector’s pivotal role in sustaining the nation’s economic competitiveness and global leadership in the aerospace industry.
This industry employed 511,000 workers in the United States in 2020.
This statistic indicates that the industry in question had a total of 511,000 workers employed in the United States in the year 2020. It provides insight into the scale of employment within that specific industry and gives an indication of its workforce size. This information can be used to assess the industry’s contribution to the overall labor market, understand its economic impact, and compare its workforce size to other industries. Additionally, trends in this statistic over time can be analyzed to identify patterns, changes, or potential growth within the industry.
The aerospace manufacturing industry in the United States exported $151.5 billion in goods in 2018.
The statistic of the aerospace manufacturing industry in the United States exporting $151.5 billion worth of goods in 2018 indicates the significant economic contribution of this sector to the country’s international trade. This figure highlights the industry’s capability to compete globally and generate substantial revenue through exports of aerospace products such as aircraft, components, and related technology. The export value underscores the importance of the aerospace manufacturing sector in driving economic growth, creating jobs, and maintaining a competitive edge in the global marketplace. Additionally, such a high export figure reflects the prowess and innovation of U.S. aerospace manufacturers in meeting the international demand for high-quality and advanced aerospace products.
In 2019, total R&D funding for aerospace manufacturing in the U.S. was $18.5 billion.
The statistic states that in 2019, the total research and development (R&D) funding allocated to aerospace manufacturing in the United States amounted to $18.5 billion. This figure represents the total investment made by various entities such as government agencies, private companies, and academic institutions towards advancing technological innovation, improving manufacturing processes, and developing new aerospace products and technologies within the industry. The substantial amount of funding underscores the importance placed on advancing aerospace manufacturing capabilities in the U.S., which plays a crucial role in driving economic growth, strengthening national security, and maintaining the country’s competitive edge in the global aerospace market.
As of 2020, Brazil has the second largest commercial aerospace industry.
The statistic ‘As of 2020, Brazil has the second largest commercial aerospace industry’ indicates that Brazil holds a significant position in the global commercial aerospace sector in terms of industry size and output. This suggests that Brazil’s aerospace industry ranks as the second largest in the world, likely based on metrics such as production value, number of companies operating in the sector, or total revenue generated. The presence of a strong commercial aerospace industry in Brazil implies a high level of expertise and competitiveness in areas such as aircraft manufacturing, maintenance, and research and development. This statistic highlights Brazil’s importance within the aerospace market and reflects its capabilities to contribute significantly to the global aerospace industry.
In 2020, 40% of all aerospace parts manufacturing companies in Europe reported profitability issues related to the Covid-19 pandemic.
The statistic reveals that a significant portion of aerospace parts manufacturing companies in Europe, specifically 40%, experienced profitability issues in 2020 due to the Covid-19 pandemic. This indicates that the aerospace industry was significantly impacted by the global health crisis, leading to financial challenges for almost half of the companies in this sector. Factors such as disruptions in the supply chain, reduced demand for air travel, and restrictions on manufacturing operations likely contributed to the profitability issues reported by these companies. As a result, the industry may have faced pressures to adapt, innovate, or seek financial support to navigate through the challenging economic environment caused by the pandemic.
In 2021, the aviation parts manufacturing industry in Canada is valued at $1.8 billion.
The statistic states that in 2021, the aviation parts manufacturing industry in Canada has a total value of $1.8 billion. This valuation represents the combined worth of all the manufacturing activities related to aviation parts within the country for that year. This figure includes the production of various components and equipment used in the aviation industry, such as engines, landing gear, avionics, and other specialized parts. The $1.8 billion value reflects the economic significance and scale of the aviation parts manufacturing sector in Canada, indicating the level of investment, production, and overall contribution to the national economy by this industry during the specified year.
The aircraft parts & auxiliary equipment manufacturing in Canada has experienced an annual growth of -2.4% from 2016 to 2021.
The statistic indicates that the aircraft parts & auxiliary equipment manufacturing industry in Canada has seen a negative annual growth rate of 2.4% between 2016 and 2021. This means that the industry’s production levels and economic performance have decreased on average by 2.4% each year during this time period. The negative growth rate may be attributed to various factors such as changes in demand for aircraft parts, fluctuations in the aviation industry, economic downturns, or disruptions caused by global events like the COVID-19 pandemic. This data highlights a challenging trend for the industry over the specified five-year period, signaling a potential need for strategic interventions or adjustments to improve the sector’s performance and sustainability in the future.
The aerospace parts manufacturing market in India is expected to hit £3.9 billion by 2030.
The statistic states that the aerospace parts manufacturing market in India is projected to reach a value of £3.9 billion by the year 2030. This indicates a significant growth and expansion in the industry over the next decade. The forecasted figure reflects the increasing demand for aerospace parts in India, likely driven by factors such as growth in the aviation sector, technological advancements, and government initiatives to promote aerospace manufacturing. Achieving this projected market size would not only signify a substantial economic impact but also potentially create opportunities for investment, job creation, and innovation within the aerospace industry in India.
The global market volume of aerospace composite materials is forecasted to reach around 82,000 tonnes by 2022.
The statistic stating that the global market volume of aerospace composite materials is expected to reach around 82,000 tonnes by 2022 implies a substantial growth in the usage and demand for these materials in the aerospace industry. Aerospace composite materials are known for their lightweight and high-strength properties, making them ideal for aircraft manufacturing. The projected increase in market volume suggests a growing trend towards the adoption of composite materials in new aircraft models or the replacement of traditional materials with composites in existing aircraft. This forecast reflects the industry’s recognition of the benefits of aerospace composite materials in terms of fuel efficiency, performance, and durability, driving the market towards higher volumes in the coming years.
By 2027, annual demand for aerospace aftermarket parts, globally, is projected to be $115 billion.
The statistic indicates that by the year 2027, the total annual demand for aerospace aftermarket parts across the globe is estimated to reach $115 billion. This projection suggests a substantial and growing market for replacement and maintenance components within the aerospace industry over the coming years. The demand for aftermarket parts is a key indicator of ongoing operations, repairs, and upgrades within the aviation sector, reflecting the increasingly complex and advanced technologies implemented in modern aircraft. This statistic highlights the significant economic value and market opportunity available within the global aerospace parts aftermarket, emphasizing the importance of reliable supply chains and efficient maintenance processes to meet the industry’s needs.
References
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