#AircraftMilledPartsMarket

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Aircraft Milled Parts Market is Anticipated to Gain Moderate CAGR by 2027

Stratview Research delivers key insights on the global Aircraft Milled Parts Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.

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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.

Key Players

The following are some of the key players in the Aircraft Milled Parts Market:

Precision Castparts Corp.

GKN plc

Spirit AeroSystems, Inc.

Magellan Aerospace Corp.

Triumph Group Inc.

Senior plc

Minebea Mitsumi, Inc.

LMI Aerospace, Inc.

Air Industries Group, Inc.

Gardner Aerospace.

Growth drivers and Market Value:

This report, from Stratview Research, studies the Aircraft Milled Parts Market value and growth drivers over the trend period of 2022-27. According to the report -

The aircraft milled parts market is projected to recover at a healthy rate from 2021 onwards, to reach an estimated value of US$ 4.3 billion in 2027. The outbreak of COVID-19 has put an end to the 16-year long industry boon, which had begun when the industry had emerged out from another infectious disease SARS (2002-2003). The aerospace industry is projected to be one of the most severely impacted industries due to the COVID-19 outbreak. As per the recent estimates of IATA, the airline industry is expecting to record a possible loss of US$ 314 billion of passenger revenues, an equivalent of a 48% loss in RPKs in 2021 from 2019. Complete lockdown of many countries due to the pandemic has forced several airlines to operate at a reduced capacity rate of 5% to 40% of their total strength. For instance, Lufthansa Group has recently announced a 95% capacity reduction due to the outbreak.

Segment Analysis:

Based on Aircraft Type:

On the basis of aircraft type, the market is segmented as commercial aircraft, regional aircraft, helicopter, military aircraft, and general aviation. Commercial aircraft is likely to remain the growth engine of the market during the forecast period, mainly driven by an expected increase in commercial aircraft deliveries in the coming years. The short-term outlook of the commercial aircraft market seems struggling to owe to the continuous grounding of the B737 Max, reduction in production rates of A320, A330, and A350 XWB programs and expected delay in the entry of upcoming aircraft programs such as B777X and C919.

Based on Region:

In terms of region, North America is projected to remain the largest market for aircraft milled parts during the forecast period. The USA is expected to rebound quickly and will act as the growth engine of the region’s market, owing to the presence of several aircraft OEMs such as Boeing, Airbus, Lockheed Martin, Bombardier Inc., and Gulfstream Aerospace as well as the presence of several leading tier players and milled parts manufacturers in the country.

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FREQUENTLY ASKED QUESTIONS

The report answers several questions related to the market. The user can get to know the answers to the following questions…

What is the global demand for Aircraft Milled Parts Market in terms of revenue?

Which are the prominent players in the market?

At what CAGR is the market projected to grow within the forecast period?

What are the driving factors fuelling the growth of the market?

Which region accounted for the largest share in the market?

How did the Covid19 impacted the market?

How long will it take to recover from the Covid impact?

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