INDUSTRY REPORT
Analysis 2025-2029’ in February 2025. It forecasts the aerospace parts manufacturing market size to increase by US $ 210.2 billion, at a CAGR of 4.4 % between 2024 and 2029.
“ The market is experiencing significant growth, driven primarily by the increasing demand for new commercial and defence aircraft. This trend is fuelled by the expanding air travel industry and rising defence budgets worldwide. In parallel, technological advancements in aerospace manufacturing processes, such as additive manufacturing and advanced materials, are revolutionising the industry, leading to lighter, stronger and more fuel-efficient components,” it said.
“ Rapid technological advances, including the use of 3D printing and advanced energy storage solutions, are revolutionising the manufacturing process, reducing costs and increasing efficiency. However, the high cost associated with aerospace parts manufacturing remains a challenge for market participants. To capitalise on the opportunities presented by this market, companies must focus on optimising their manufacturing processes, embracing new technologies and building strategic partnerships to share costs and risks,” it continued.
It highlighted emerging technologies, like the Internet of Things and virtual reality, for manufacturing processes, enhancing supply chain transparency and facilitating remote collaboration. Certification testing, a critical aspect of aerospace manufacturing, is evolving with the integration of computer-aided design and simulation tools.
“ Strategic partnerships and joint ventures are shaping the industry landscape, fostering collaboration and driving growth.
3D-printed steel blades of turbine propeller.
Emerging technologies, such as augmented reality and unmanned aerial vehicles, are disrupting traditional manufacturing processes and unlocking new opportunities. Rocket engines and spacecraft components are also benefiting from these advancements, pushing the boundaries of what is possible in aerospace manufacturing,” added the analyst.
An eye on materials
The global aerospace industry has proved itself to be adept at embracing new materials, processes and technologies aimed at increasing safety, sustainability and productivity. According to analyst
Grand View Research’ s latest report on aerospace and defence materials, the global aerospace and defence material market size was estimated at US $ 20.45 billion in 2024. The analyst expects it to grow at a CAGR of 5.5 % from 2025 to 2030.
“ As aircraft manufacturers strive to enhance fuel efficiency and reduce emissions, there is a significant shift towards materials that offer high strength-to-weight ratios. These materials contribute to weight reduction and improve overall performance and durability, making them essential in meeting regulatory standards for environmental sustainability,” said Grand View Research.
“ Innovations, such as additive manufacturing( 3D printing), have revolutionised how aerospace components are designed and produced. This technology allows for complex geometries that were previously impossible with traditional manufacturing methods, leading to reduced waste and shorter production times. Furthermore, ongoing research into new alloys and composite materials continues to yield products that can withstand extreme conditions while maintaining structural integrity, enhancing aerospace systems’ capabilities,” it added.
The need for enhanced survivability, stealth features and operational effectiveness has also prompted defence contractors to seek innovative materials to meet these stringent requirements.
In its report, Grand View Research anticipates titanium to register the fastest growth with a CAGR of 6.2 % worldwide during the forecast period( 2025-2030). Titanium offers exceptional strength-to-weight ratio, making it suitable for applications where reducing weight is crucial for performance and efficiency. This characteristic allows aerospace manufacturers to enhance fuel efficiency and payload capacity, which is particularly important in commercial aviation and military applications. In variable grades, steel is combined with several other metals( including carbon, chromium, and nickel) offering enhanced hardness, yield strength and corrosion resistance.
“ The business & general aviation segment is anticipated to register the fastest CAGR of 6.4 % over the forecast period. This segment represents a vital part of the aerospace and defence materials market, characterised by its focus on non-commercial aircraft operations. It includes private jets, helicopters and other aircraft for personal or corporate purposes. Various factors, including increasing disposable incomes, globalisation of businesses and technological advances, drive this sector’ s growth,” concluded the analyst. n
Global financial instability, driven by geopolitical tensions and disputes, poses sizeable challenges for the aerospace marketplace
Image: Shutterstock. com.
Image: Shutterstock. com.
Image: Unsplash, photographer Oliver Bornhauser
36 | ismr. net | ISMR May 2025