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Aerospace Engineering Market By Component (Aero structures, Engineering Services) By End Use (Aircrafts, Spacecraft) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

Summary
Table Of Content

Which service Component of Aerospace Engineering dominate the market?

Airlines engage in software engineering, which entails creating, changing, and maintaining software for sophisticated aircraft systems. A software engineer’s responsibilities include organising, managing, and supervising the creation of technical computer programmes for aeroplanes. Both standalone and embedded software services are included in this area. The practise of using software engineering to operate diverse devices, such as embedded systems that are distinct from normal computers, is known as embedded software services. Any sort of hardware or operating system, including Linux or MacOS, may execute an independent piece of software. A self-employed software service provider creates and sells software solutions that can function on a variety of computer platforms or operating systems.

What is the Market Size of Aerospace Engineering in term of value?

Global Aerospace Engineering Market is projected to increase at a significant CAGR of 6.90% in the coming years. In 2021, the global aerospace engineering market was valued at USD 45.7 Billion and is projected to reach at value of USD 68.199 million by 2028. The demand for aerospace engineering is projected to increase substantially in the coming years and is presumed to generate revenue opportunity for the key industry players that worth USD 22.499 million during the forecast period between 2022 and 2028.

Interesting Facts about Aerospace Engineering Industry

The utilisation of cutting-edge technology and electronic gadgets in the aircraft sector has substantially advanced over time.
In order to lower their operational costs, among other things, aerospace businesses are anticipated to outsource a growing quantity and volume of designing and manufacturing-related activities. Over the projection term, aerospace ESO operations are anticipated to see a noticeable increase because to the rising demand for aircraft and their shorter half-lives.
The global aerospace engineering business has seen increasing levels of investment in recent years due to the rise in air travel and the growing requirement to maintain safe and secure aircrafts.
North America region had a major share in terms of volume as well as value in the Global Aerospace Engineering market in 2021 and is projected to continue its dominance over the forecast period.
Due to the sharp increase in demand for aircraft and component parts, the Indian aerospace sector is on the verge of taking off on a worldwide scale. The nation benefits from a number of factors, including low labour costs, a large pool of skilled engineers, designers, and other technical workers, markets with strong development potential, and active support for the government’s new policies.

Who are the Top 10 players/companies in aerospace engineering market in term of value?

The key players in the global aerospace engineering market in terms of value include WS Atkins Plc; Bombardier, Inc; Cyient Ltd; Elbit Systems Ltd; Leonardo DRS; Saab Group; Safran System Aerostructures; Sonaca Group; Strata Manufacturing PJSC; UTC Aerospace Systems and General Dynamics Corporation. In March, 2019 Swiss International Air Lines AG and Thompson agreed to a deal for Thompson to provide new first class and business class seats for the airline’s Airbus A340 aircraft. In May, 2017 A two-year agreement for engineering services for Croatia Airlines’ aircraft was inked by TCS and Lufthansa Technik AG. In June, 2016 A ten-year, $300 million technology services contract between Emirates Airline and IBM Corporation was struck. The airline will be able to increase the effectiveness of its passenger assistance systems and operations thanks to the delivery of IT infrastructure as a service.

Who are the Top 10 Countries in the Aerospace Engineering Market?

In the Global Aerospace Engineeringmarket, the major countries are the U.S., Canada, China, India, Germany, France, Russia, Belgium, Netherlands, and Norway. Increased demand for air travel, technical advancements, growing economies, alterations in social behaviour, and cheap loan rates are all growth factors in the historical period. High exchange rate volatility, political unpredictability, erratic raw material costs, and plane groundings were factors that hampered progress throughout the historical period. Future trends include an increase in the demand for drones for commercial usage, expanding economies, and quick technological progress. Future aircraft industry development may be hampered by factors such as the insolvency of low-cost airlines, order cancellations, increasing cyberattacks, climate change, inadequate aviation infrastructure, geopolitical tensions, a global economic downturn, and a coronavirus pandemic.

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Which is the Key End-user Area in the Aerospace Engineering Market?

The key End-users of aerospace engineering include Aircraft, and Spacecraft. The market for aerospace engineering includes a range of aerospace components and engineering services that help aircraft producers effectively assemble and build aircraft for different uses. Fuselage, wings, empennage, vertical stabiliser, control surfaces and rudder, lift control devices, engine, flap, propeller, propulsion devices, landing gear, nose gear, cockpit, controls, systems, and hydraulics are a few of the main parts utilised in the air assembly process. Aerospace engineering also includes a wide range of engineering services, including research, design and development, and assembly operations, among others. Although the ongoing COVID-19 epidemic has severely hurt the commercial aviation industry, other uses including military jets, transport planes, and unmanned aerial vehicles are anticipated to continue growing. As a result, the total aircraft market is anticipated to expand over the projected period at a sustainable rate.

What are the Major Driving Factors for Aerospace Engineering Market?

Over the past ten years, there has been an increase in the demand for specialist IT and core engineering services. As a result, service providers are concentrating on various capabilities in addition to typical engineering skills like drawing, modelling, and MRO of aeroplane components, such as designing, prototyping, simulation, testing, and system engineering for aero structures and avionics. Soon, the tendency is probably going to continue to be strong.

Due to rising air travel in emerging nations and increased emphasis on military spending, it is projected that growth in the military and civil aviation sectors would propel the aerospace industry. The need for aeronautical engineering is being driven by supportive government efforts and expenditures in R&D activity in this industry.

What are the Major Restraints for Aerospace Engineering Market?

The key restraint of the Global Aerospace Engineering market which is projected to hamper the market growth, before releasing a new product on the market, makers of aerospace systems and components are needed to get certification. To obtain the maximum degree of safety, producers must conduct a number of tests and iterations, which requires lengthy approval processes that further delay manufacturing. For instance, according to one of the major respondents, it may take three years for any product-related certifications from the Federal Aviation Administration (FAA), which certifies regions like North America. The expansion of the aerospace and defence telemetry market may be constrained by these regulatory authority certification procedure delays, such as those from the FAA.

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Which Region Dominated the World Aerospace Engineering Market?

In terms of sales share in 2021, the aerospace ESO regional market in North America dominated. Most reputable market participants are situated in North America, including Honeywell International Inc. and Altair Engineering Inc. The early adoption of new technology has also resulted in a bigger revenue share for the regional aerospace ESO market. Due to ongoing innovations in the IT industry and an expansion of IT services, data centre systems, corporate software, and communication systems in the area, the U.S. has a sizable portion of the global software market.

Over the projected period, it is expected that demand for outsourcing aerospace engineering services in European nations would be muted. Market saturation, intense rivalry, and difficult economic circumstances are to blame for this poor rate of development. Germany is anticipated to see significant growth within Europe. Due to an increase in OEM and service provider partnerships, the Asia Pacific region’s aerospace ESO market is predicted to develop at the quickest rate throughout the forecast period. Due to the region’s extensive supply of low-cost, highly trained labour, the number of such collaborations is projected to increase significantly in the near future.

Segmentation of Global Aerospace Engineering Market-

Global Aerospace Engineering Market – By Component

Aero structures
Engineering Services

Global Aerospace Engineering Market – By End Use

Aircrafts
Spacecraft

1. Preface

1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Aerospace Engineering Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Aerospace Engineering Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Component
3.3.2. End-user
3.3.3. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Components
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Top 6 Players
4.3. Top 3 Players
4.4. Major Strategies Adopted by Key Players

5. COVID 19 Impact Analysis
5.1. Global Aerospace Engineering Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Aero structures
6.2.3. Engineering Services
6.3. North America Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. Aircrafts
6.3.3. Spacecraft
6.3.4. Other

7. Europe
7.1. Europe Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Aero structures
7.2.3. Engineering Services
7.2.4. Others
7.3. Europe Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. Aircrafts
7.3.3. Spacecraft
7.3.4. Other

8. Asia Pacific
8.1. Asia Pacific Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Aero structures
8.2.3. Engineering Services
8.2.4. Others
8.3. Asia Pacific Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. Aircrafts
8.3.3. Spacecraft
8.3.4. Other

9. Latin America
9.1. Latin America Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Aero structures
9.2.3. Engineering Services
9.2.4. Others
9.3. Latin America Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. Aircrafts
9.3.3. Spacecraft
9.3.4. Other

10. Middle East
10.1. Middle East Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Aero structures
10.2.3. Engineering Services
10.2.4. Others
10.3. Middle East Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. Aircrafts
10.3.3. Spacecraft
10.3.4. Other

11. Africa
11.1. Africa Aerospace Engineering Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Aero structures
11.2.3. Engineering Services
11.2.4. Others
11.3. Africa Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. Aircrafts
11.3.3. Spacecraft
11.3.4. Other

12. Global
12.1. Global Aerospace Engineering Market, by Component, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Aero structures
12.1.3. Engineering Services
12.1.4. Others
12.2. Global Aerospace Engineering Market, by End-user, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. Aircrafts
12.2.3. Spacecraft
12.2.4. Other

13. Company Profiles
13.1. WS Atkins Plc
13.2. Bombardier, Inc
13.3. Cyient Ltd
13.4. Elbit Systems Ltd
13.5. Leonardo DRS
13.6. Saab Group
13.7. Safran System Aerostructures
13.8. Sonaca Group
13.9. Strata Manufacturing PJSC
13.10. UTC Aerospace Systems
13.11. General Dynamics Corporation
13.12. Others

List of Figures

FIG. 1 Global Aerospace Engineering Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Aerospace Engineering Market Segmentation
FIG. 4 Global Aerospace Engineering Market, by Component, 2019 (US$ Bn)
FIG. 5 Global Aerospace Engineering Market, by End-user, 2021 (US$ Bn)
FIG. 6 Global Aerospace Engineering Market, by Geography, 2021 (US$ Bn)
FIG. 7 Attractive Investment Proposition, by Geography, 2021
FIG. 8 Global Market Positioning of Key Aerospace Engineering Market Manufacturers, 2019
FIG. 9 Global Aerospace Engineering Market Value Contribution, By Component, 2021 & 2028 (Value %)
FIG. 10 Global Aerospace Engineering Market, by Engineering Services, Value, 2016-2028 (US$ Bn)
FIG. 11 Global Aerospace Engineering Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 12 Global Aerospace Engineering Market Value Contribution, By End-user, 2021 & 2028 (Value %)
FIG. 13 Global Aerospace Engineering Market, by Aircrafts, Value, 2016-2028 (US$ Bn)
FIG. 14 Global Aerospace Engineering Market, by Spacecraft, Value, 2016-2028 (US$ Bn)
FIG. 15 Global Aerospace Engineering Market, by Others, Value, 2016-2028 (US$ Bn)
FIG. 16 U.S. Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 17 Rest of North America Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 18 U.K. Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 19 Germany Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 20 France Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 21 Italy Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 22 Spain Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 23 Russia Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 24 BENELUX Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 25 Poland Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 26 Austria Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 27 Rest of Europe Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 28 Japan Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 29 China Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 30 India Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 31 South Korea Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 32 Australia Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 33 Southeast Asia Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 34 Rest of Asia Pacific Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 35 Middle East & Africa Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 36 South Africa Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 37 Nigeria Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 38 Egypt Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 39 GCC Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 40 Israel Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 41 Latin America Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 42 Mechanicalzil Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 43 Argentina Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 44 Colombia Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 45 Peru Aerospace Engineering Market, 2016-2028 (US$ Bn)
FIG. 46 Chile Aerospace Engineering Market, 2016-2028 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Aerospace Engineering Market
TABLE 2 Global Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 3 Global Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 4 Global Aerospace Engineering Market, by Geography, 2016-2028 (US$ Bn)
TABLE 5 North America Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 6 North America Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 7 North America Aerospace Engineering Market, by Country, 2016-2028 (US$ Bn)
TABLE 8 Europe Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 9 Europe Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 10 Europe Aerospace Engineering Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 11 Asia Pacific Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 12 Asia Pacific Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 13 Asia Pacific Aerospace Engineering Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 14 Latin America Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 15 Latin America Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 16 Latin America Aerospace Engineering Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Middle East Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 18 Middle East Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 19 Middle East Aerospace Engineering Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 20 Africa Aerospace Engineering Market, by Component, 2016-2028 (US$ Bn)
TABLE 21 Africa Aerospace Engineering Market, by End-user, 2016-2028 (US$ Bn)
TABLE 22 Africa Aerospace Engineering Market, by Country/Region, 2016-2028 (US$ Bn)

Frequently Asked Questions

How COVID-19 Impacted the Global Aerospace Engineering market?

The emphasis on reducing carbon footprint via aircraft weight reduction is foreseen to benefit the market in the long term.

Which is the leading market for aerospace engineering?

North America accounted for the highest share in the Global Aerospace Engineering market in terms of value as well as volume.

What are the key drivers for the growth of the aerospace engineering market?

The rise in passenger traffic, which will lead to a need for new aircraft, as well as an emphasis on lowering aircraft weight to reduce carbon footprint. Over the past several years, there has been a noticeable increase in air passenger travel on a global scale are the major factors driving the growth of the market.

What segment are covered in the aerospace engineering report?

The Global Aerospace Fasteners Market is segmented on the basis of Component, End-user and Geography.

Which is the major segment in Aerospace Engineering Market by End-user?

Aircraft industry had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.

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