Product ID: SQMIG20A2152
Report ID:
SQMIG20A2152 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
63 |
Figures:
77
With a 50.5% revenue share in 2022, the North American aircraft parts manufacturing industry will rule the regional market. Because of the region's growing number of ageing fleets, the North American economy is extremely favorable for the manufacture of aircraft. Lower operating efficiency and revenue demands for the operating airlines are caused by the replacement of the ageing aircraft. Additionally, an increase in per capita income is predicted to increase the number of people using aero planes, increasing the demand for aircraft and its components.
In 2022, the Asia Pacific region had a sizable portion of the market, and by 2030, it is anticipated to grow at a CAGR of 7.3%. This is a result of the region's aviation sector developing at an increasing rate, which is being fueled by the economies of China, Japan, and other nations. An increase in international air travel and a rise in the need for international freight are factors that are anticipated to increase demand for MRO services and, in turn, for aerospace parts.
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Product ID: SQMIG20A2152