Aerospace & defense C-class Parts Market size is estimated to exhibit a CAGR of more than 4.7% from 2021 to 2027

Aerospace & Defense C-class Parts Market Size
The size of the Aerospace & defense C-class Parts Market was over USD 11.67 billion in 2020 and is expected to grow at a CAGR of over 4.7% from 2021 to 2027.

Increased demand for airframe due to the replacement of aging aircraft in the commercial & defense aviation market is expected to fuel aerospace & defense C-class parts demand throughout the forecast period. In addition, increasing demand for fuel-efficient aircraft for global major airlines is expected to fuel product demand within the aerospace & defense industry.

To receive key market trends

C-class components are low value components that are replaced rather than repaired when damaged. They are small in nature and are the most essential components utilized in aircraft construction. They are located throughout the aircraft such as fuselage, landing gear fittings, wings, flight control actuating systems, control surfaces, and air-intake areas close to the engine.

The growth of the global market is attributed to the rising commercial aircraft industry. Strong demand is anticipated throughout the forecast period due to robust economic growth, growth in consumer spending power on services, and changing airline business models providing a lot of opportunities to passengers hence driving the overall aircraft production. Strict safety and efficient aircraft operating regulations enable aircraft leaders to provide standard maintenance, driving the market growth. Apart from this, the increasing need for fuel-efficient commercial aircraft and increasing air traffic will drive the market growth.

Current geopolitical tensions between key economies such as China, North Korea, South Korea, the U.S., Israel, and India have made the need for robust aircraft fleets imperative. This, in turn, will drive the investments towards the creation of new-age technologies as well as the upgradation of the current systems. For example, the fiscal year 2019 U.S. defense budget considered the modernization of the current Air Force strike fighter plane and bomber aircraft. Moreover, replacement of aged components and newer aircraft purchases will have a positive impact on the industry growth in the next few years.

Aerospace & Defense C-class Parts Market Report Attributes
Report Attribute Details
Base Year 2020
Aerospace & Defense C-class Parts Market Size in 2020 USD 11.67 Billion
Forecast Period 2021 to 2027
Forecast Period 2021 to 2027 CAGR 4.7%
2027 Value Projection USD 15.89 Billion
Historical Data for 2017 to 2020
No. of Pages 250
Tables, Charts & Figures 278
Segments covered Part family/Components, Application, Distribution Channel, End-user
Growth Drivers:
Growing defense spending by key economies
Aerospace industry growth
Pitfalls & Challenges:
Adhesives taking the place of mechanical fasteners
What are the opportunities for growth in this market?

Effect of COVID-19 pandemic
The COVID-19 pandemic has dealt a tremendous setback to the aerospace and defense sector, particularly for companies that supply key components. The pandemic has disrupted supply chains of raw materials worldwide, bringing factory production to a standstill. Big and small firms in the sector have been reducing production. For instance, it’s now costing more to ship commodities, and there have been delayed shipments due to lockdowns in various nations. Reduced air travel and shutdown borders have also presented huge challenges for the sector. This disruption is affecting developing nations severely since they depend so much on imports for such components. The shortage is having a ripple effect that will damage the industry for years to come.

Aerospace & Defense C-class Parts Market Analysis
Fasteners are the glue that sticks aerospace machines together. They’re crucial to safety and performance, which is why it’s no wonder that they’re projected to control over half of the aerospace industry by 2027. Nuts and bolts, screws and springs, fasteners are found in every shape and size imaginable to accommodate the specific requirements of aircraft. They keep wings stable, engines humming, and everything in between. With the aerospace market calling for increasingly powerful and efficient products, even the fasteners that are utilized have to undergo changes. These have to ensure quality and performance according to the strict standards laid out. Hence, aerospace fasteners will see a high demand across all classes of aircraft, be it commercial aircraft or warplanes.

Read more about the most important segments influencing this market

The aerospace airframe segment in aerospace & defense C-class parts industry will increase to USD 8.49 billion by 2027 due to increasing production levels of prominent projects, including B787, A320 family, and A350XWB, compelling the requirement of lightweight c-class parts and worldwide commercial aircraft fleet in developed regions. In addition, new airline launch and service expansion of current airlines will certainly share the market. This expansion in the airframe industry is expected to drive product demand over the next several years.

The aftermarket market will contribute USD 11.41 billion by 2027. Replacement and renovation of existing aircraft can increase and broaden the demand for aftermarket by bringing in fleet management and line planning and responding to new aircraft. In the long run, it is seen that growth in the number of MRO facilities will drive the development of commercial and defense aircraft aftermarkets.

The commercial sector held over 50% of the market share in 2020 and will exhibit 4.8% growth rate by 2027 driven by growing air passenger traffic, decreasing air fares, and surging tourism & travel industry. Replacement of aging parts and new aircraft order will have a favorable impact on the industry growth during the forecast period. New geographical routes create new aircraft facilities, increasing the industry growth further during the forecast period.

Find out more about the major segments driving this market

The aerospace and defense industry in North America is a powerhouse, claiming over 45% of the global market share in 2020. And get thisexperts predict it’s going to keep soaring, with a projected growth rate of more than 4.8% from 2021 to 2027. The U.S. is a major player on the global stage, leading the way in producing those big, beautiful commercial airliners. So, you can just imagine the limitless possibilities that opens up for the sector. The people at the helm of these top companies are working their magic, creating innovative, cost-effective solutions to address the sky-high demand for air travel. And on top of that, there’s no dearth of defense operations and new contracts in the pipeline, which will only fuel the fire. And don’t forget the big dollars flowing in to create and manufacture new airplanes in the U.S. It’s as if they’re announcing, “Let’s go, aerospace!” The region is positioned to keep going up in the future. With its world-class aerospace supply base, with capability in aircraft repair, high-falutin’ electronics, and everything in between, it’s an innovation nexus that will definitely push the industry to even greater heights.

Aerospace & Defense C-class Parts Market Share

Companies working in the market are continuously investing and focusing on innovations to meet industry challenges. Major players operating in the industry are

• Amphenol
• Stanley Black & Decker Inc.
• Eaton Corporation
• RCB Bearings Incorporated
• Trimas Corporation
• Precision Castparts corporation
• Arconic
• National Aerospace Fasteners Corporation
• SKF Bearings
• TE Connectivity