Market Insights
C-Class parts in the aerospace & defense industry are low-cost and high-volume commodity parts such as fasteners and bearings. The global aerospace & defense c-class parts market is segmented into four major heads, which are Hardware Parts, Bearing Parts, Electronic Components, and Machined Parts. The hardware parts segment is expected to remain dominant in the aerospace & defense c-class parts market over the next five years, mainly driven by the demand for fasteners and bolts. Hardware parts majorly consist of fasteners, which are situated across an aircraft body including the fuselage, wings, landing gear fittings, control surfaces, flight control actuating systems, and air-intake areas near the engine.
In terms of demand for c-class parts in the aerospace industry, the past three years (2019-2021) proved to be extremely challenging for the market stakeholders, leaving no space in front of the market stakeholders for recovery. Firstly, the grounding of the B737Max, followed by the outbreak of the pandemic kicked off the industry to almost the decade-ago figure. A similar jolt was felt in the demand for aircraft c-class parts, which witnessed a colossal decline (-30%+ in 2020) amid the pandemic. The year 2021 proved to be another breathtaking year for the stakeholders with a continued downfall in the demand, mainly due to the prolonged impact of the pandemic paired with the B787 production suspension.
The beginning of 2022 proved to be a new dawn for the market stakeholders with a rapid recovery in air travel, helping the industry stakeholders to push their trajectory upwards inch by inch. Overall, the aerospace & defense c-class parts market rebounded at an impressive rate of 20%+ in the same year, lighting the rays to hope for a speedy recovery of 20%+ in the same year.
The changing geopolitical conditions, supply chain disruption, and resurgence of COVID variants keep tumbling the market environment. Despite these challenging environments, Stratview firmly believes in a positive outlook in the aerospace & defense c-class parts market in both short as well as long term. The short-term outlook clearly eludes these challenging macro business environments and may record impressive double-digit growth rates, followed by sequential growth rates in the long term. Overall, the aerospace & defense c-class parts market is likely to rebound at a promising CAGR of 9.1%, in the long run, to reach US$ 13 Billion in 2028.
Recent Market JVs and Acquisitions:
- In 2021, Amphenol Corporation acquired Positronic for an undisclosed amount. Positronic is a leading manufacturer of high-reliability power and signal connectors for different industries.
- In 2020, Stanley, Black & Decker, Inc. acquired Consolidated Aerospace Manufacturing for US$ 1.4 Billion. The acquisition further diversified Stanely Black & Decker's presence in the industrial markets and expanded its portfolio of specialty fasteners in the aerospace & defense market.
Segments' Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Aircraft-Type Analysis
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Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, and Military Aircraft
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Commercial aircraft is anticipated to remain the dominant as well as the fastest-growing aircraft category for c-class parts in the years to come.
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Part-Type Analysis
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Hardware Parts, Bearings, Electronic Components, and Machined Parts
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Hardware parts are expected to be the dominant segment, whereas electronic components is likely to be the fastest-growing segment.
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Sales Channel-Type Analysis
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Direct Sales, Distributors, and Part Brokers
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Distributor sales to hold the major share and is projected to grow at the fastest pace.
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End-User-Type Analysis
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OE Sales and Aftermarket Sales
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OE sales is likely to dominate the market and aftermarket sales is expected to grow at a higher rate.
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Regional Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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Based on the aircraft type, commercial aircraft is likely to remain the biggest aircraft category in terms of demand for c-class parts during the forecast period. The aircraft type is also likely to witness the highest growth during the same period. Increasing production rates of key programs, such as the B737 and A320 family; market entry of new players, such as COMAC; upcoming aircraft programs such as A321 XLR and COMAC C919; and rising commercial aircraft fleet are the major factors that are driving the demand for c-class parts in the segment.
Based on the part type, the market is segmented into hardware parts, bearings, electronic components, and machined parts. Hardware parts are expected to remain the dominant part type in the market during the forecast period. Hardware components majorly include fasteners. Out of the total number of components used in an aircraft, more than 50% are fasteners. Electronic components is expected to grow at the highest pace, owing to increasing usage in avionics, electrical interconnect harnesses, cabin lighting, IFE, airframe, landing gear, engines, flight control, and hydraulic systems.
In terms of regions, North America is expected to remain the leading region in the aerospace & defense c-class parts market during the forecast period. The region is the manufacturing capital of the aerospace & defense industry with the presence of several large- to small-sized OEMs, tier players, distributors, c-class part manufacturers, and airline companies.
On the other hand, Asia-Pacific is likely to grow at the highest pace in the years to come. Major markets in the region, such as China and India, are growing at a higher pace, creating a humongous demand for commercial and regional aircraft. Major tier players and OEMs are making a greater presence in the region to tap the growth potential. A similar impression has been felt in the c-class parts market with OEMs opening their assembly plants in the region.
Key Players
The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. The following are the key players in the Aerospace & Defense C-Class Parts Market.
- Howmet Aerospace
- Precision Cartparts Corp. (PCC)
- Lisi Aerospace
- AB SKF
- RBC Bearings Incorporated
- Stanley, Black & Decker, Inc.
- Amphenol Corporation
- TriMas Corporation
- Eaton Corporation plc
- LMI Aerospace (Sonaca Group)
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace & defense c-class parts market realities and future market possibilities for the forecast period. the report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 20 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The Aerospace & Defense C-Class Parts Market is segmented into the following categories.
Aerospace & Defense C-Class Parts Market, by Aircraft Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace & Defense C-Class Parts Market, by Part Type
- Hardware Parts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electronic Components (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Machined Parts (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace & Defense C-Class Parts Market, by Sales Channel Type
- Direct Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Distributors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Part Brokers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace & Defense C-Class Parts Market, by End-User Type
- OE Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aftermarket Sales (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aerospace & Defense C-Class Parts Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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