Aerospace and Defense Components Market Report 2025

The aerospace and defense components market size has grown rapidly in recent years. It will grow from $65.1 billion in 2024 to $72.4 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to global military spending, commercial aviation growth, geopolitical tensions, space exploration initiatives, upgrades and modernization, cybersecurity concerns.

The aerospace and defense components market size is expected to see strong growth in the next few years. It will grow to $105.41 billion in 2029 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing global threats, space commercialization, renewable energy in aviation, additive manufacturing, electronics miniaturization, global air traffic growth. Major trends in the forecast period include additive manufacturing and 3d printing, electric and hybrid propulsion systems, increased connectivity and IoT integration, autonomous and unmanned systems, supply chain resilience and digitalization.

The escalating number of air travelers is anticipated to be a driving force supporting the growth trajectory of the aerospace and defense components market. Air travelers, constituting individuals utilizing airplanes for domestic or international travel, contribute to the burgeoning demand for modern aircraft that necessitate efficient, lightweight, and high-performance components. Notably, the International Air Transport Association (IATA) reported robust demand growth in air travel for March 2023, with a staggering 52.4% increase in global air traffic measured in revenue passenger kilometers (RPKs) compared to March 2022. This surge in air travel substantiates the pivotal role of rising air traveler numbers in driving the growth of the aerospace and defense components market.

The surge in commercial aircraft deliveries stands poised to propel the growth trajectory of the aerospace and defense components market. Commercial aircraft represent a cornerstone of contemporary transportation systems, facilitating swift and efficient travel for passengers and cargo across the world. These aircraft rely extensively on aerospace and defense components to ensure optimal performance, safety, fuel efficiency, and passenger comfort. For instance, in 2022, Airbus SE, a leading aircraft manufacturer based in France, achieved the delivery of 661 commercial aircraft to 84 customers, with 1,078 gross new orders marking an 8% increase from the preceding year. This upsurge in commercial aircraft deliveries substantiates the pivotal role played by this sector in bolstering the growth of the aerospace and defense components market.

Technological advancement is a significant trend gaining traction in the aerospace and defense component markets. Major companies in this sector are concentrating on developing resin technology solutions to enhance their market position. For example, in September 2024, Toray Advanced Composites, a US-based manufacturer of high-quality advanced composite materials, introduced Toray Cetex TC1130 PESU thermoplastic composite material. This material is engineered to provide substantial weight savings compared to traditional materials, making it especially suitable for aircraft interiors. It features continuous fiber reinforcement, which improves its structural integrity and performance in demanding applications. The TC1130 PESU is designed to facilitate fully recyclable homogeneous sandwich structures, supporting sustainability initiatives within the aerospace industry.

Major players in the aerospace and defense component sector are prioritizing increased investments to broaden their product portfolios. These investments in production capacities represent significant financial commitments aimed at expanding and enhancing manufacturing capabilities, with a focus on augmenting output to meet escalating demand. An illustrative case is Collins Aerospace, a prominent US-based aerospace technology company, which unveiled plans in December 2022 to inject over $200 million into engineering and production capabilities. Additionally, the company aims to recruit an additional 2,000 highly skilled professionals in the Indian aerospace and defense sectors. This strategic investment is slated to bolster the Collins India Operations Center situated in Bengaluru, focusing on advancing its engineering, digital technology, and manufacturing operations within the country.

In June 2023, Barnes Group Inc., a US-based industrial and aerospace manufacturer and service provider, entered into a definitive agreement to acquire MB Aerospace, with the financial details remaining undisclosed. This strategic acquisition by Barnes Group Inc. is geared towards delivering value-added solutions across the aero-engine value chain. The acquisition aims to deepen and broaden customer relationships, enhance exposure in the defense industry, and achieve a balanced presence across diverse aerospace end markets. MB Aerospace, a US-based precision aero-engine component manufacturing and repair services provider, caters to major aerospace and defense engine OEMs (original equipment manufacturers), Tier 1 suppliers, and MRO (maintenance, repair, and operations) providers. This acquisition signifies Barnes Group Inc.'s strategic move to strengthen its foothold and capabilities in the aerospace and defense components sector, catering to a wider spectrum of industry needs.

Major companies operating in the aerospace and defense components market include Arconic Inc., AMI Metal Inc., Constellium SE, Cytec Solvay SA, DowDuPont Inc., Hexcel Corporation, Huntsman International LLC, Kobe Steel Ltd., Koninklijke Ten Cate B.V., Materion Corporation, Saudi Basic Industries Corporation, Sofitec Aero S.L., TATA Advanced Materials Limited, Teijin Ltd., Toray Composites America Inc., The Boeing Company, Airbus SE, Raytheon Technologies Corporation, Northrop Grumman Corporation, General Dynamics Corporation, Lockheed Martin Corporation, BAE Systems plc, Safran S.A., Rolls-Royce Holdings plc, Honeywell International Inc., United Technologies Corporation, L3Harris Technologies Inc., Textron Inc., Bombardier Inc., Spirit AeroSystems Inc., Mitsubishi Heavy Industries Ltd., General Electric Aviation, Eaton Corporation plc, Woodward Inc., JAMCO Corporation.

North America was the largest region in the aerospace and defense components market in 2024. Asia-Pacific is expected to be the fastest-growing region in the aerospace and defense components market report during the forecast period. The regions covered in the aerospace and defense components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aerospace and defense components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Aerospace and defense components are specialized parts designed for use in the manufacturing and servicing of commercial aircraft, military defense systems, and space-related applications. These components are engineered to precise tolerances to meet the specific requirements of their intended missions, contributing to the production of commercial and military aircraft, as well as satellites.

The main materials used for aerospace and defense components include aluminum, titanium, composites, superalloys, steel, plastics, and other products. Aluminum is a silvery-white metallic chemical element with the atomic number 13, known for its excellent thermal and electrical conductivity. These components find applications in various aspects of aircraft, including engines, aerostructures, interiors, equipment, systems and support, as well as avionics. They are utilized by commercial, business, and general aviation, military, and other users in the aerospace and defense sectors.

The aerospace and defense components market research report is one of a series of new reports that provides aerospace and defense components market statistics, including aerospace and defense components industry global market size, regional shares, competitors with an aerospace and defense components market share, detailed aerospace and defense components market segments, market trends, and opportunities, and any further data you may need to thrive in the aerospace and defense components industry. This aerospace and defense components market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aerospace and defense components market consist of sales of flat spiral, torque coil, and clutch, and snap rings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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