Aerospace Tic Market Research Report By Aircraft Size (Narrow-body, Wide-body, Regional jets, Business jets), By Mission Type (Passenger, Cargo, Special mission), By Propulsion System (Jet engines, Turboprop engines, Electric propulsion), By TIC Technology (Satellite-based, Ground-based, Hybrid) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Global Aerospace Tic Market Overview

Aerospace Tic Market Size was estimated at 56.76 (USD Billion) in 2022. The Aerospace Tic Market Industry is expected to grow from 58.44(USD Billion) in 2023 to 76.0 (USD Billion) by 2032. The Aerospace Tic Market CAGR (growth rate) is expected to be around 2.96% during the forecast period (2023 - 2032).

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Key Aerospace Tic Market Trends Highlighted

The most important market trends in the Aerospace TIC market include increasing demand for connectivity solutions in aircraft, the rise of autonomous technologies, and the growing use of cloud-based services. Connectivity solutions enable aircraft to transmit data in real-time to ground stations, which can help to improve safety, efficiency, and operational performance. Autonomous technologies are being developed to enable aircraft to perform tasks without human input, which can lead to cost savings and productivity gains. Cloud-based services are being used to provide access to data and applications from anywhere, which can improve collaboration and decision-making.

Aerospace Tic Market Drivers

Technological advancements in aerospace

The aerospace industry is constantly evolving, with new technologies being developed all the time. These advancements are driving the growth of the aerospace tic market, as they enable the development of new and innovative products. For example, the development of new materials is leading to the creation of lighter and stronger aircraft, which can fly further and faster. Additionally, the development of new electronic systems is leading to the creation of more efficient and reliable aircraft.These advancements are making air travel more accessible and affordable, which is driving the growth of the aerospace tic market.

Increasing demand for air travel

The demand for air travel is increasing, as more and more people are choosing to fly for business and leisure. This is due to a number of factors, including the rising incomes of people in developing countries, the increasing availability of low-cost airlines, and the growing popularity of online travel booking. The increasing demand for air travel is driving the growth of the aerospace tic market, as airlines need to purchase more aircraft to meet the demand.

Government support for the aerospace industry

Governments around the world are providing support for the aerospace industry, as they recognize the importance of this industry to their economies. This support takes a number of forms, including direct financial assistance, tax breaks, and research and development funding. The government support for the aerospace industry is helping to drive the growth of the aerospace tic market, as it is making it easier for companies to invest in new technologies and products.

Aerospace Tic Market Segment Insights

Aerospace Tic Market Aircraft Size Insights  

The Aerospace Tic Market is segmented by aircraft size into narrow-body, wide-body, regional jets, and business jets. The narrow-body aircraft segment is expected to account for the largest share of the market in 2023, with a valuation of USD 24.56 billion. This segment is expected to grow at a CAGR of 2.8% during the forecast period, reaching a valuation of USD 29.1 billion by 2032. The wide-body aircraft segment is expected to be the second-largest segment, with a valuation of USD 18.4 billion in 2023. This segment is expected to grow at a CAGR of 3.1% during the forecast period, reaching a valuation of USD 22.3 billion by 2032.The regional jet segment is expected to be the third-largest segment, with a valuation of USD 9.3 billion in 2023. This segment is expected to grow at a CAGR of 3.3% during the forecast period, reaching a valuation of USD 11.4 billion by 2032. The business jet segment is expected to be the smallest segment, with a valuation of USD 6.2 billion in 2023. This segment is expected to grow at a CAGR of 3.5% during the forecast period, reaching a valuation of USD 7.7 billion by 2032. The growth of the Aerospace Tic Market is driven by a number of factors, including the increasing demand for air travel, the growing number of low-cost carriers, and the increasing popularity of business jets.The market is also expected to benefit from the development of new technologies, such as electric and hybrid aircraft. The Aerospace Tic Market is a highly competitive market, with a number of major players. The leading players in the market include Boeing, Airbus, Bombardier, Embraer, and Gulfstream Aerospace. These companies are constantly investing in new technologies and products in order to gain market share.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Aerospace Tic Market Mission Type Insights  

The Aerospace Tic Market segmentation by Mission Type includes Passenger, Cargo, and Special mission. The Passenger segment held the largest market share in 2023, accounting for over 55% of the Aerospace Tic Market revenue. The growth of this segment can be attributed to the increasing demand for air travel, particularly in emerging markets. The Cargo segment is also expected to grow significantly over the forecast period, owing to the growth of e-commerce and the increasing demand for air cargo services. The Special mission segment is expected to witness moderate growth, driven by the demand for specialized aircraft for military and government applications.

Aerospace Tic Market Propulsion System Insights  

The Propulsion System segment plays a crucial role in the Aerospace Tic Market, contributing significantly to its revenue generation. Jet engines dominate this segment, accounting for a major share of the market. Their high efficiency and power-to-weight ratio make them the preferred choice for commercial and military aircraft. Turboprop engines, on the other hand, are more suitable for regional and short-haul flights due to their lower fuel consumption and operating costs. Electric propulsion, an emerging technology, is gaining traction as a potential game-changer in the industry.Its zero-emission capabilities and low noise levels make it an attractive option for urban air mobility and short-range passenger transportation. The Aerospace Tic Market for Propulsion Systems is poised to witness steady growth in the coming years, driven by increasing air travel demand, advancements in propulsion technologies, and the growing adoption of sustainable solutions.

Aerospace Tic Market TIC Technology Insights  

The Aerospace Tic Market segmentation by TIC Technology into Satellite-based, Ground-based, and Hybrid provides valuable insights into the market dynamics. Satellite-based TIC systems utilize satellites to provide communication and navigation services to aircraft, offering advantages such as coverage and high bandwidth. Ground-based TIC systems rely on terrestrial infrastructure to provide services, enabling real-time data exchange and enhanced situational awareness. Hybrid TIC systems combine both satellite and ground-based elements, providing a comprehensive solution with increased redundancy and resilience.In 2023, the Satellite-based segment held the largest market share due to its extensive coverage and reliability. However, the Ground-based segment is expected to experience significant growth in the coming years, driven by advancements in technology and the increasing demand for real-time data. The Hybrid segment is also anticipated to gain traction as it offers a cost-effective and flexible solution.

Aerospace Tic Market Regional Insights  

The Aerospace Tic Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023, followed by Europe and APAC. The growth in North America is attributed to the presence of major aerospace companies and the increasing demand for air travel. Europe is also a significant market for aerospace tics, with a number of leading aerospace companies headquartered in the region. The APAC region is expected to experience the highest growth rate during the forecast period, due to the increasing demand for air travel in emerging economies such as China and India.South America and MEA are expected to contribute a smaller share to the market but are also expected to experience growth during the forecast period.

Source Primary Research, Secondary Research, MRFR Database and Analyst Review

Aerospace Tic Market Key Players And Competitive Insights

Major players in the Aerospace Tic Market industry are constantly seeking new ways to improve their products and services, and to gain a competitive edge in the market. Leading Aerospace Tic Market players are investing in research and development to develop new technologies and products that meet the needs of their customers. Aerospace Tic Market development is also being driven by the increasing demand for air travel and the need for more efficient and cost-effective ways to transport people and goods. The competitive Landscape is expected to further intensify in the coming years, as new entrants into the market seek to capitalize on the growing demand for Aerospace Tic Market products and services.Boeing is a leading provider of aerospace products and services, including commercial and military aircraft, space vehicles and launch systems. The company has a long history of innovation in the aerospace industry and is constantly seeking new ways to improve its products and services. Boeing's commitment to innovation and customer service has helped to make it a leader in the Aerospace Tic Market industry.Airbus is a leading provider of aerospace products and services, including commercial and military aircraft, helicopters, and space vehicles. The company is headquartered in France and has a presence with operations in over 100 countries. Airbus is a major competitor to Boeing in the Aerospace Tic Market, and the two companies are constantly vying for market share. Airbus's commitment to innovation and customer service has helped to make it a leader in the Aerospace Tic Market industry.

Key Companies in the Aerospace Tic Market Include

• Cobham


• Collins Aerospace


• Triumph Group


• Safran


• Wabtec


• Eaton


• Meggitt


• Zodiac Aerospace


• Honeywell International


• Woodward


• TransDigm Group


• Parker Hannifin


• Moog


• UTC Aerospace Systems


• Liebherr

Aerospace Tic Market Industry Developments

The aerospace titanium castings market is projected to reach USD 76.0 billion by 2032, exhibiting a CAGR of 2.96% during the forecast period (2023-2032). Rising demand for lightweight and durable materials in the aerospace industry, coupled with growing commercial aircraft production, is driving market growth. Increasing adoption of titanium castings in critical aircraft components, such as landing gear, engine mounts, and structural parts, is further propelling demand. The Asia-Pacific region is anticipated to witness significant growth due to the presence of major aircraft manufacturers and expanding commercial aviation markets in countries like China and India. Technological advancements, such as additive manufacturing and near-net-shape casting, are creating new opportunities for market expansion.

Aerospace Tic Market Segmentation Insights

• Aerospace Tic Market Aircraft Size Outlook


• Narrow-body


• Wide-body


• Regional jets


• Business jets


• Aerospace Tic Market Mission Type Outlook


• Passenger


• Cargo


• Special mission


• Aerospace Tic Market Propulsion System Outlook


• Jet engines


• Turboprop engines


• Electric propulsion


• Aerospace Tic Market TIC Technology Outlook


• Satellite-based


• Ground-based


• Hybrid


• Aerospace Tic Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa

Aerospace Tic Market Report Scope