Nov 3, 2022   SOURCE: BusinessWire

Global Aerospace & Defense Contract Manufacturing Market Report 2022: Surging Demand for Commercial Airplanes Boosts Growth - ResearchAndMarkets.com

The "Global Aerospace & Defense Contract Manufacturing Market Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global aerospace & defense contract manufacturing market is anticipated to grow at a significant CAGR of 17.3% during the forecast period. The contract manufacturing in aerospace & defense is intended to offer various services, such as manufacturing, engineering, modification & maintenance, assembly, and supply chain management. In addition, it involves bringing advanced solutions to defense, commercial and space customers.

The contracts are awarded by both government and commercials to the contract manufacturers. One of the major factors driving the growth of global aerospace & defense contract manufacturing market includes surging demand for commercial airplanes. For instance, in July 2021, Sintavia, LLC unveiled its patented copper 3D printing method for the GRCop-42 rocket thrust chamber assembly utilised by NASA and other space travel companies.

Segmental Outlook

The global aerospace & defense contract manufacturing market is segmented based on services and end-users. Based on the services, the market is sub-segmented into aerospace & defense design & engineering, aerospace & defense assembly, aerospace & defense manufacturing, and others. Based on end-users, the market is classified as commercials and government. Further, the government segment comprises the army, air force, navy, and coast guard.

The Government Segment is Expected to hold a Prominent Share in the Global Aerospace & Defense Contract Manufacturing Market

The government segment is expected to hold a prominent share in the market owing to the rise in R&D activities within the aerospace & defense sector. The government is majorly focusing on establishing an aero-engine complex for civil and military applications along with developing core technologies for aero-engines contributing to the growth of the market.

For instance, in November 2021, the Indian government in collaboration with the Cabinet Committee on Security (CCS) sanctioned $2036.6 crores on project Kaveri for developing jet engines for aircraft.

Regional Outlooks

The global aerospace & defense contract manufacturing market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East &Africa, and Latin America. Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period, owing to the rapidly rising defense industry in Asian countries, including Japan, China, India, Indonesia, and others. Asia-Pacific grow significantly over the forecast period, owing to the presence of highly industrialized countries in the region, which is expected to increase the demand for advanced aerospace & defense contract manufacturing followed by Europe.

The Asia-Pacific Region is Expected to Cater Significant CAGR in the Global Aerospace & Defense Contract Manufacturing Market

Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period, owing to the rapidly rising defense industry in Asian countries, including Japan, China, India, Indonesia, and others. These countries are highly industrialized, which is expected to increase the demand for advanced aerospace & defense contract manufacturing. Furthermore, increasing expenditure of these countries on the aerospace & defense industry is another factor to fuel the market growth. According to the WorldBank, the defense expenditure constituted 2.9% of India's total GDP with approximately $72.9 billion spent on defense in 2020.

Key Topics Covered:

1. Current Industry Analysis and Growth Potential Outlook

2. Market Overview and Insights

3. Competitive Landscape

4. Market Segmentation

5. Regional Analysis

6. Company Profiles

Companies Mentioned

  • A&S Mold and Die Corp.
  • ABX Engineering, Inc.
  • Accelerated Machine Design & Engineering LLC
  • Alpha Design Technologies Pvt. Ltd.
  • Avion Technology, Inc.
  • Axian Technologies, Inc.
  • Bharat Electronics Ltd.
  • Blue Origin, LLC
  • CAE, Inc.
  • Captor Corp.

For more information about this report visit https://www.researchandmarkets.com/r/ejunr