DUBLIN--(BUSINESS WIRE)--The "Aircraft Milled Parts Market by Aircraft Type, by Application Type, by Material Type, by End-User Type, and by Region, Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025" report has been added to ResearchAndMarkets.com's offering.
Milled parts or components are those machined components, which are mainly produced through the milling process. A wide and diverse range of machined components is used in the aerospace industry, made via processes such as milling, turning, and drilling. Milling offers rapid profiling of aircraft structural components, which are majorly made with aluminum, stainless steel, titanium, and their alloys; with better surface finish and greater dimensional accuracy than metal forming of aircraft structures.
Rapid advancements in the milling process, i.e., from conventional milling machines to advanced CNC (Computer Numerical Control) milling machines and high-speed machining centers have paved the way for milled components/parts in the aerospace industry. These advancements have also helped the industry to achieve its main objective of optimizing metal removal rates and minimizing chatter.
Impact of COVID-19 on Aircraft Milled Parts Market
The aircraft milled parts market is projected to grow at a healthy rate over the next five years to reach an estimated value of US$ 4.3 billion in 2025.
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$ 252 billion of passenger revenues, an equivalent of a 38% loss in RPKs in 2020 from 2019. Complete lockdown of many countries due to the pandemic has forced several airlines to cut their flying capacity due to grounded fleets and operate at a reduced capacity of 5% to 40% of their total strength. For instance, Lufthansa Group has recently announced a 95% capacity reduction due to the outbreak.
The unprecedented drop in air travel has not only reduced airlines' revenue but also added to the cost of grounding of their huge aircraft fleets. Thus, the impact is disrupting the entire supply chain of industry with the stock fall out and bankruptcies of several regional airlines leading to consolidation in the regional aviation market.
The outbreak has also affected the business of already struggling aircraft OEM, Boeing, extending the grounding of B737 Max, leading to their stock fall out up to 70% roughly during March 2020. The subsequent halt in production and assembly plants of Airbus in Europe and the USA and Boeing in the USA due to the outbreak has also restricted the growth of the industry in 2020.
Key Topics Covered:
1. Executive Summary
2. Aircraft Milled Parts Market Overview and Segmentation
3. Aircraft Milled Parts Market Assessment
3.1. Publisher Insights
3.2. Aircraft Milled Parts Market Trend and Forecast (US$ Million)
3.3. Profitability Analysis
3.4. Market Segments' Analysis (US$ Million)
3.5. Regional and Country-Level Analysis (US$ Million)
3.6. Market Drivers
3.7. Market Challenges
4. Competitive Analysis
4.1. Publisher Insights
4.2. Product Portfolio Analysis
4.3. Geographical Presence
4.4. Market Share Analysis
4.5. Porter's Five Forces Analysis
5. Aircraft Milled Parts Market Trend and Forecast by Aircraft Type (2014-2025)
5.1. Publisher Insights
5.2. Commercial Aircraft: Regional Trend and Forecast (US$ Million)
5.3. Regional Aircraft: Regional Trend and Forecast (US$ Million)
5.4. Helicopter: Regional Trend and Forecast (US$ Million)
5.5. Military Aircraft: Regional Trend and Forecast (US$ Million)
5.6. General Aviation: Regional Trend and Forecast (US$ Million)
6. Aircraft Milled Parts Market Trend and Forecast by Application Type (2014-2025)
6.1. Publisher Insights
6.2. Airframe: Regional Trend and Forecast (US$ Million)
6.3. Engine: Regional Trend and Forecast (US$ Million)
6.4. Interiors: Regional Trend and Forecast (US$ Million)
6.5. Others: Regional Trend and Forecast (US$ Million)
7. Aircraft Milled Parts Market Trend and Forecast by Material Type (2014-2025)
7.1. Publisher Insights
7.2. Aluminum Milled Parts: Regional Trend and Forecast (US$ Million)
7.3. Stainless Steel Milled Parts: Regional Trend and Forecast (US$ Million)
7.4. Titanium Milled Parts: Regional Trend and Forecast (US$ Million)
7.5. Other Metals & Alloys: Regional Trend and Forecast (US$ Million)
8. Aircraft Milled Parts Market Trend and Forecast by End User Type (2014-2025)
8.1. Publisher Insights
8.2. OE: Regional Trend and Forecast (US$ Million)
8.3. Aftermarket: Regional Trend and Forecast (US$ Million)
9. Aircraft Milled Parts Market Trend and Forecast by Region (2014-2025)
9.1. Publisher Insights
9.2. North American Aircraft Milled Parts Market: Country Analysis
9.3. European Aircraft Milled Parts Market: Country Analysis
9.4. Asia-Pacific's Aircraft Milled Parts Market: Country Analysis
9.5. Rest of the World's (RoW) Aircraft Milled Parts Market: Sub-Region Analysis
10. Strategic Growth Opportunities
10.1. Publisher Insights
10.2. Market Attractiveness Analysis
10.3. Emerging Trends
10.4. Growth Matrix Analysis
10.5. Key Success Factors (KSFs)
11. Company Profile of Key Players (Profiling, Financial Information, Competition, Strategies, etc.)
11.1. Air Industries Group, Inc.
11.2. Gardner Aerospace
11.3. GKN plc
11.4. LMI Aerospace, Inc.
11.5. Magellan Aerospace Corp.
11.6. MinebeaMitsumi Inc.
11.7. Precision Castparts Corp.
11.8. Senior plc
11.9. Spirit AeroSystems, Inc.
11.10. Triumph Group Inc.
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