Aerospace Machine Tools Market is Forecasted to Reach US$ 4.3 billion in 2028, Says Stratview Research

The global aerospace machine tools market is projected to witness a growth rate of 6.2% annually from 2023 to 2028, with an anticipated size of US$ 4.3 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global aerospace machine tools market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 4.3 billion
Growth (CAGR): 6.2% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Aerospace Machine Tools Market:
The global aerospace machine tools market is segmented based on machine type, axis type, end-user type, aircraft type, and region.

Based on machine type - The market is segmented into milling machines, turning machines, and others. Among these machine types, milling machines are expected to remain the dominant segment of the market during the forecast period. Milling machines are the most significant machines that are equipped with various cutting tools, making them versatile for a wide array of aerospace applications. These machines enable the mass production of identical parts and can achieve high levels of precision and accuracy.

Based on the axis type - The market is segmented into 5-Axis machines, 3/4-Axis machines, and others. Among these sub-segments, the 5-Axis machines are expected to dominate the market as well as witness the fastest growth over the next five years. These machines are used to produce various structural components for aircraft, such as wing ribs, fuselage frames, and bulkheads, which often have complex contours and shapes that require multi-axis machining for accuracy. In addition, 5-axis machines not only reduce the number of setups required for completely machining an aerospace part but also enhance the overall efficiency, often allowing most of the components to be meticulously machined in just one or two setups.

Based on the end-user type - The market is segmented into OEMs, tier-I companies, and others. Among these end-user types, the tier-I segment is expected to maintain its market dominance as well as witness the fastest growth during the forecast period. The demand for machine tools among tier-1 component manufacturers in the aerospace industry is significant and continues to be driven by various factors. Several tier-I engine, aerostructure, and landing gear manufacturers rely on advanced machine tools to produce complex and high-precision parts that are critical to the performance, efficiency, and safety of aircraft.

Based on the aircraft type - The market is segmented into civil aircraft and military aircraft. Despite taking a nosedive in 2020, civil aircraft is expected to remain the most dominant segment of the market during the forecast period. The return to service of the B737Max, the entry of new programs (C919, B777x, and MC-21), and the expected recovery in the production rates of the A320 and B737 programs are likely to fuel the segment's growth.

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for aerospace machine tools during the forecast period. This growth outlook is majorly attributed to the following-
- The presence of a large number of aircraft OEMs, tier players, machine tool manufacturers, and raw material suppliers.
- The USA is likely to remain the leading market, both in North America and globally, during the forecast period.
- Concurrently, Asia-Pacific is likely to be the fastest-growing region during 2023-2028, with China, Japan, and India being the major contributors.

Aerospace Machine Tools Market Drivers:

Some of the key drivers listed in the report are given below.
- Increase in the production rate and the introduction of key aircraft programs.
- The concurrent high demand for precision machining and shaping tools for aerospace parts.

Top Companies in the Aerospace Machine Tools Market:
Stratview Research has identified the following companies as the top market players (Based on Dominance).
• YAMAZAKI MAZAK CORPORATION
• DMG MORI CO., LTD.
• Makino Milling Machine Co., Ltd.
• DN Solutions
• Fives Group
• GF Machining Solutions
• Okuma Corporation
• Starrag Group
• JTEKT Corporation
• Gebr. Heller Maschinenfabrik GmbH

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Aerospace Machine Tools Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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