Aerospace And Defense C-Class Parts Market to 2025 by Emerging Trends and Growth Prospects

North America accounted for more than 45% overall aerospace and defense C-class parts market share in 2018, owing to the presence of major aircraft and engine manufacturers including Boeing and Lockheed Martin. Ever expanding investment in the military and other defense activities will further propel the product demand over the years ahead.

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North America is anticipated to dominate the global aerospace and defense C-class parts market landscape over the forecast period.

Constant increase in defense budget attributed to the rise in geopolitical tensions has led to an arms battle among some of the major economies like Russia, United States, China, and India. A flagship aviation magazine, Aviation Week, predicts that in-service fleet aircrafts will increase significantly by the end of 2027. Reportedly there were 41,605 in service aircrafts in 2017 which are expected to grow by 1,230 by 2027. Moreover, there is demand for 834 aircrafts and helicopters by multiple defense forces around the globe.

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Strong economic growth of the emerging nations led to improved standard of living, thereby expanding consumer base of the airline industry. Furthermore, the aerospace & defense industry adheres to stringent regulation concerning the safety of the aircraft operations, which requires timely maintenance and repair of the aircrafts. This would in turn, further strengthen aerospace and defense C-class parts market forecast owing to the increasing commercial air traffic.

Aircraft airframe segment held the largest share owing to the increased production rates of commercial aircrafts by major players like Boeing and Airbus. Improved business policies enforced by major airliners have led to minimized airfares attracting more air flyers. The expansion of the consumer base preferring air travel has also proved highly beneficial for the airline industry, thus creating more demands for new aircrafts.

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Exponential growth of the commercial aircraft sector has been driving aerospace and defense C-class parts market. Passenger aircrafts orders have witnessed sharp gains owing to the rise in consumer spending on air travel complemented by the minimized air fares for shifting focus on middle class population.

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