Stratview Research announces the launch of a new research report on Aircraft Turned Parts Market is Segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, Helicopter, Military Aircraft, and General Aviation), by Application Type (Flight Control Surfaces, Engine, Landing Gear, and Others), by Material Type (Aluminum, Stainless Steel, Titanium, and Other Metals & Alloys), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
The report calculates the short- and long-term ramifications of the COVID-19 pandemic on Aircraft Turned Parts consumption at the global, regional, and nation scales. The report also compares pre-COVID and post-COVID scenarios to evaluate the potential loss to the industry. The vital data provided in the report can play a crucial role for market participants as well as investors in formulating short-term as well as long-term growth strategies.
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The report delivers a detailed view of the industry based on global Aircraft Turned Parts Market size, market growth, and opportunities. The report also analyses market key aspects such as-
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Covid-19 Impact analysis.
- Market environment analysis: Growth drivers and constraints, and SWOT analysis.
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
Highlights from the Report
The rapid spread of the pandemic exacerbated the existing aerospace industry challenges, and hampered B737 max approval process. Also, the pandemic left no options with the aircraft manufacturers except to curtail their key aircraft production rates. For instance, Airbus announced to curtail its production by 1/3 for 2020 with the revised rate of 40 A320s per month, 6 A350s per month, and 2 A330s per month, owing to a sudden collapse in air passenger traffic in the wake of the complete travel ban imposed by the governments of several advanced and emerging economies. Supply chain disruptions, huge cash burns, remote and adjusted work schedules, and huge COVID-19-related costs sacking the profitability are other noticeable effects of the pandemic.
However, the strong fundamentals of the market, such as market entry of new aircraft programs: A321XLR, B777X, C919, and MC-21 coupled with a huge pile of order backlogs of Boeing and Airbus (12,816 commercial aircraft backlogs translating 7+ years at continuous production rates), and accelerated demand for replacing iconic aircraft such as A380 and B747 with A321, A350XWB, and B787, may provide some relief to the entire aerospace community including aircraft turned parts manufacturers in the near future. It is estimated that the market is set to rebound from 2021 onwards after a nose-dive in 2020, the biggest collapse in the past two decades. It is estimated that the aircraft turned parts market will reach US$ 1.9 billion in 2025.
In terms of region, North America is projected to remain the largest market for aircraft turned parts during the forecast period. The USA is the leading market for turned parts in North America as well as in the global marketplace, owing to the presence of several aircraft OEMs such as Boeing, Airbus, Lockheed Martin, Gulfstream, and Cessna, the major sources of demand for turned parts. The outbreak of the pandemic has ruthlessly impacted the country’s market with the temporary shutdown of Boeing’s B787 plant in South Carolina and Airbus’ A220 and A380 production facility in Alabama, sagging the capability of the OEMs to work on full capacities.
Go Through the Full Scope of the Report Here: https://www.stratviewresearch.com/toc/1029/aircraft-turned-parts-market.html
According to the report, the key players of the market are –
- 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.
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