Aircraft Design and Engineering Market size was valued at 34.2 Billion in 2022. The Aircraft Design and Engineering industry is projected to grow 54.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.70% during the forecast period (2022 - 2032).
Aircraft design and engineering refers to the designing aircraft components such as engine, wings, fuselage, tail, nose, landing gear, and pylon. These components are designed using software such as computer-aided design (CAD). It also involves optimizing existing aircraft design to increase efficiency. Aircraft engineering is the manufacturing of aircraft components as per the design. Various factors are involved in aircraft engineering such as analysis, testing and validation, and value engineering.
The global aircraft design and engineering market is expected to register significant growth during the forecast period owing to an increase in passenger traffic and the subsequent demand for new aircraft. Globally, air passenger traffic has been increasing at a significant pace over the past couple of years. Factors such as decreasing airfares, increasing per capita disposable incomes, especially in developing countries, and improved quality of life have led to a rise in air travel. To cater to the rising number of passengers, there has been a corresponding increase in the demand for new aircraft.
Weight reduction is a key necessity in modern aircraft design as it helps reduce fuel consumption and CO2 emissions. An approximate 1% reduction in aircraft weight lowers fuel consumption by 0.75%. A key objective of the aerospace industry is to increase aircraft efficiency while reducing fuel consumption. Lightweight components enable aircraft manufacturers to achieve these results. Using the additive manufacturing (AM) process, aircraft parts are built as per the CAD design. This is a more efficient process than conventional manufacturing where a substantial amount of raw materials is sometimes machined away to create the final component.
The global aircraft design & engineering market has been segmented on the basis of aircraft component, operation, end use, and region. On the basis of aircraft component, the market has been segmented into engine, wings, fuselage, tail, nose, landing gear, and pylon. The engine segment was the largest in 2018 whereas the fuselage segment is expected to be the fastest growing during the forecast period.
Based on Operation
The market has been divided into design, manufacturing, analysis and testing, maintenance, repair, and operations (MRO), and others. In 2018, the design segment led the market due to high investments in research and development aimed at aircraft design. The maintenance, repair, and operations (MRO) is expected to register the highest CAGR during the review period.
Based on End Use
The market has been classified as commercial aviation and military aviation. The military aviation segment is expected to exhibit the higher CAGR during the assessment period. This can be attributed to government investments in aviation and military modernization programs across all regions.
Based on Region
The market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific is projected to be the fastest-growing owing to an increase in investments in the aviation industry, primarily in India and China. Furthermore, a rise in investments in military aviation is further estimated to drive the growth of the aircraft design & engineering market in the region during the forecast period.
Key Players
The key players in the global aircraft design & engineering market are Boeing (US), Bombardier (Canada), Embraer SA (Brazil), Airbus SAS (Netherlands), Lockheed Martin Corporation (US) United Technologies Corporation (US), Rolls-Royce PLC (UK), and GE Aviation (US).
Recent Development
Research Methodology
The market values and forecast are derived using the MRFR research methodology, which includes secondary research, primary interviews, data triangulation and validation from an in-house data repository, and statistical modeling tools.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Secondary Research
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
Key Insights
| Report Attribute/Metric | Details |
| Market Size2022 | USD 34.2 Billion |
| Market Size2032 | USD 54.6 Billion |
| Compound Annual Growth Rate (CAGR) | 4.70% (2022-2032) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2032 |
| Historical Data | 2019- 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Aircraft Component, Operation, End-Use, Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Boeing (US), Bombardier (Canada), Embraer SA (Brazil), Airbus SAS (Netherlands), Lockheed Martin Corporation (US) United Technologies Corporation (US), Rolls-Royce PLC (UK), and GE Aviation (US) |
| Key Market Opportunities | Rising number of passengers |
| Key Market Dynamics | Rise in investments in military aviation |
Aircraft Design Engineering Market Highlights:
Frequently Asked Questions (FAQ) :
United Technologies Corporation (U.S.), Airbus SAS (Netherlands), Lockheed Martin Corporation (U.S.) are the central players in the market.
A promising CAGR is estimated to transform the market in the future.
The APAC region is estimated to be leading the charge for market development in the forecast period.
A USD 54.6 billion by 2032 is forecasted for the market in the impending period.
The escalation in demand for new aircraft is predicted to usher in development in the global market.
Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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