"Executive Summary Aerospace Parts Manufacturing Market :
CAGR Value : The global aerospace parts manufacturing market size was valued at USD 971.69 million in 2024 and is expected to reach USD 1381.84 million by 2032, ****at a CAGR of 4.50% during the forecast period
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Aerospace Parts Manufacturing Market Overview
The aerospace parts manufacturing market is witnessing significant growth due to the increasing demand for new aircraft as well as the rising need for aircraft replacement parts. The aerostructure segment is expected to dominate the market as there is a continuous demand for lightweight materials that can enhance fuel efficiency and performance of aircraft. Furthermore, the avionics segment is also expected to witness substantial growth as there is a growing focus on advanced electronics and communication systems in modern aircraft. With the development of new materials such as composites, the materials segment is projected to experience rapid growth as these materials offer high strength-to-weight ratio and corrosion resistance.