C-Parts Market to reach USD 212.79 billion by 2031, due to an Increase in Orders and Deliveries of Aircraft and Automobiles Worldwide | The Insight Partners - Seite 2

C-Parts Market Report Findings

1. Rise in Orders and Deliveries of Aircraft Worldwide: The aviation industry has evolved rapidly, recording many aircraft production and deliveries. As per the data published by Airbus in January 2024, Airbus delivered 735 commercial aircraft globally in 2023, up by 11% from 2022. Further, Airbus forecasts that more than 18,900 commercial aircraft will be delivered in Asia Pacific countries between 2023 and 2042. Moreover, there is a rise in traveling activities across the globe.
   
   As per the data published by the International Air Transport Association (IATA) in 2024, the total passenger air traffic globally increased by 10% in 2024 from 2023. This increased demand for air traveling directly affects the need for MRO activities and spare parts requirements. In addition, primary, secondary, and tertiary airports continue to expand.
   
   For instance, since 2022, the governments of China and India announced their plans to construct 216 and 72 new airports, respectively, by the end of 2035. Moreover, many airlines strategically prioritize network expansion by inaugurating routes to underserved and geographically remote regional airports. With the increasing number of aircraft, airports, and MRO facilities, the demand for C-parts is increasing across different regional aircraft manufacturing sites.
2. Surge in Automotive Production Across Asia Pacific Countries: The global automotive sector is witnessing increased automotive production. As per the data published by the International Organization of Motor Vehicle Manufacturers in 2024, the global production of automotive vehicles in 2024 reached 92.50 million, a hike of 8% from 2022, which was 84.81 million. Asia Pacific is one of the notable regions globally, where the production of vehicles is significant. China, being at the top of the global production list, secured first position in automotive exports. This increased the demand for C-parts such as bearings, screws, nuts, bolts, washers, and other types of components.
3. Increasing Investments in Renewable Power Generation: The sustainability trend has increased globally. Governments of developed and developing nations are focusing on investments in renewable power generation.