Aircraft Turned Parts Market Size, Share, Growth, Trends, and Forecast by 2031

MARKET OVERVIEW

Turning is the machining process used to obtain highly finished cylindrical parts with the help of single-point cutting tools. Through turning, both solid as well as thin-walled cylindrical parts can be formed. Some of the specific turning operations are hard turning, spherical generation, tapered turning, facing, grooving, and parting. Critical landing gear and aero-engine components, such as lock actuators, piston & cylinder actuators, and axles, shock absorbers, engine shafts, thrust links, rotor masts, pressure vessel components, bearing carriers, and small forgings; are the some of the key aircraft parts made via the turning process.

MARKET SCOPE

The "Global Aircraft Turned Parts Market Analysis to 2031" is a specialized and in-depth study of the aerospace and defense industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aircraft turned parts market with detailed market segmentation by Aircraft Type, Application, Material, and geography. The report provides key statistics on the market status of the leading aircraft turned parts market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on Aircraft Type, the market is segmented into Commercial Aircraft, General Aviation, Helicopter, Military Aircraft, and Others.
  
•   Based on Application, the market is segmented into Flight Control Surfaces, Engine, Landing Gear, and Others.
  
•   Based on Material, the market is bifurcated into Aluminum, Stainless Steel, Titanium, and Others.
  

MARKET DYNAMICS

Drivers:

•   major players own a diversified product portfolio with a wider geographical reach and distribution network all over the world.
  
•   major players active in the market are also having capabilities to develop parts through other machining processes.
  

Restraints

•   High expenses involved in the maintenance of aircraft turned parts.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Aircraft Turned Parts market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. . The report also provides exhaustive Porters five force analysis highlighting factors factors affecting the aircraft turned parts market in these regions.

IMPACT OF COVID-19 ON AIRCRAFT TURNED PARTS MARKET

The outbreak of the COVID-19 has severely impacted the defense, aerospace, aviation and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption is expected to leave an impact on the defense industry through till mid-2021. With the rising concern of health of the general public, governments across nations are focused on investments on healthcare and related industries and there has been a shift of budget allocation from defense to healthcare. However, the pandemic has proved that careful coordination is required between all border agencies to ensure effective security measures. Moreover, demand for defense related products such as aircraft turned parts systems will remain unaffected as the budgets for defense related projects had been allocated prior to the pandemic and the projects are extremely critical to national defense.

MARKET PLAYERS

The report covers key developments in the aircraft turned parts market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aircraft turned parts market are anticipated to lucrative growth opportunities in the future with the rising demand for aircraft turned parts in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aircraft turned parts market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Precision Castparts Corp.
  
•   GKN plc
  
•   Spirit AeroSystems, Inc.
  
•   Magellan Aerospace Corp.
  
•   Triumph Group Inc.
  
•   Collins Aerospace
  
•   Senior plc
  
•   MinebeaMitsumi, Inc.
  
•   Air Industries Group, Inc.
  
•   Gardner Aerospace
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Aircraft Turned Parts Report Scope