Market Insights
“Aircraft milling market size was US$21.9 billion in 2024 and is likely to grow at a CAGR of 2.4% in the long run to reach US$28.2 billion in 2032.”
Market Dynamics
Introduction
Aircraft milled parts are precision components manufactured through the milling process, where a rotating cutting tool carefully removes material from a metal workpiece to achieve the desired shape and features. These components play a critical role in aircraft construction and are produced from a variety of materials, including aluminum, titanium, stainless steel, and other high-performance alloys. Milled parts can range from basic elements like brackets and fittings to more complex structures such as engine mounts, wing ribs, turbine blades, and structural frames.
The strength of the milling process lies in its ability to deliver high accuracy, tight tolerances, and complex geometries, qualities essential for meeting the rigorous standards of the aerospace industry. Innovations in milling technology have further enhanced its capabilities, enabling superior finishing quality, uniform designs, faster production cycles, reduced manual intervention, and lower error rates.
The evolution from traditional milling methods to advanced CNC (Computer Numerical Control) systems and high-speed machining centers has significantly transformed the landscape of aerospace manufacturing. These modern technologies have made it possible to optimize metal removal rates, improve process stability, and enhance overall productivity, all while minimizing operational inefficiencies such as tool chatter. With rising aircraft production, growing demand for fuel-efficient models, and a push for more lightweight yet strong components, the aircraft milling market is expected to follow a robust growth trajectory.
Recent Developments:
There have been a number of contracts, plant setups, and company restructurings performed over the past few years. Some of the major ones have been mentioned below:
- In July 2022, Airbus announced the launch of its new subsidiary, Airbus Aerostructures, which was established by merging the activities of the parent company’s four production sites in Germany with the former Premium AEROTEC plants in the country.
- In January 2022, Airbus Atlantic, the wholly owned Airbus subsidiary, was established by merging the parent company’s activities at the Saint-Nazaire and Nantes sites in France with those of STELIA Aerospace global sites. As a result, the company has become a key player in the global aerostructures market.
- In October 2020, Airbus commissioned JUARISTI to manufacture two palletized milling and boring centers to modernize its machine resources at its St-Eloi plant in Toulouse.
- In February 2019, Magellan Aerospace Corporation opened a 100,000-square-foot manufacturing and assembly facility in India. The new machining and assembly plant will specialize in high-speed milling and turning of aerostructure and aero-engine components produced from both aluminum and hard metal materials.
Recent Market JVs and Acquisitions:
Over the past few years, there have been a fair number of strategic alliances, including M&As, JVs, etc., across the globe. Some of them have been mentioned below:
- In February 2023, Prince Industries, a USA-based, globally-integrated contract manufacturer of precision machined and fabricated parts, acquired Precision Shapes (PSI), a USA-based provider of complex material and tight tolerance precision machining services, including continuous long-length milling, to companies operating in the aerospace & defense industry.
- In November 2021, Global Precision Products, LLC, a US-based company, acquired Will-Mor Manufacturing, LLC, a provider of mission-critical engine components for both commercial and military aerospace applications through milling and turning processes, as well as ordnance equipment for the defense industry.
Market Segments' Analysis
|
Segmentations
|
List of Sub-Segments
|
Segments with High-Growth Opportunity
|
|
Aircraft-Type Analysis
|
Commercial Aircraft, Regional Aircraft, Helicopters, Military Aircraft, and General Aviation
|
Commercial aircraft are expected to maintain their market dominance, and regional aircraft are expected to witness the fastest growth over the next seven years.
|
|
Material-Type Analysis
|
Aluminum, Stainless Steel, Titanium, and Other Metals & Alloys
|
Aluminum is estimated to be the dominant material type, whereas titanium is likely to grow at the fastest rate during the forecast period.
|
|
Application-Type Analysis
|
Airframe, Engine, Landing Gear, and Others
|
Engine is expected to be the dominant as well as the fastest-growing application type in the upcoming years.
|
|
End-User-Type Analysis
|
OE and Aftermarket
|
OE is anticipated to remain the biggest demand generator as well as witness faster growth, by end-user type, in the years to come.
|
|
Regional Analysis
|
North America, Europe, Asia-Pacific, Rest of the World
|
North America is expected to remain the largest market over the next few years, whereas Asia-Pacific is likely to grow at the fastest rate throughout the forecast period.
|
By Aircraft Type
“Commercial aircraft are projected to remain a dominant segment in the aircraft milling market, and regional aircraft are also expected to experience the fastest growth in the coming years.”
The aircraft milled parts market is segmented into commercial aircraft, regional aircraft, helicopters, military aircraft, and general aviation. This growth is primarily driven by increasing demand for short-to-medium-haul connectivity, especially in emerging markets where regional air networks are expanding. The rise in regional aircraft deliveries and production will naturally translate into a higher demand for precision-milled components such as structural frames, engine casings, and landing gear parts, making regional aircraft a significant contributor to overall market growth.
By Application Type
“The engine category is anticipated to remain the dominant application area while also experiencing the fastest growth in the coming years.”
The market is categorized into airframe, engine, landing gear, and other applications. Among them, the engine segment is expected to maintain its dominance, as engines require a wide range of high-precision, high-performance milled parts. Key components include turbine blisks, turbine blades, fuel nozzles, exhaust ducts and cones, impellers, combustion casings, and fan discs. Engine-related demand will be significantly driven by prominent engine platforms such as LEAP, GE9X, GEnx, PW F135, PW1000G, and Rolls-Royce Trent XWB and 7000, making it the fastest-growing application as well.
By Material Type
“Aluminum is expected to remain the most widely used material, whereas titanium is projected to register the highest growth rate over the forecast period.”
Based on material type, the market is divided into aluminum, stainless steel, titanium, and other metals and alloys. Aluminum is projected to remain the dominant material, supported by its long-standing usage in aerospace due to its lightweight, cost-efficiency, anti-corrosive nature, and ease of machining. Conversely, titanium is expected to record the highest growth rate, owing to its high strength-to-weight ratio, corrosion and heat resistance, and better compatibility with composite structures. Its adoption is further accelerated by its increased application in next-generation aircraft programs like the Boeing 787 and Airbus A350 XWB.
By End-User Type
“OE is expected to continue being the primary source of demand and is also likely to experience the fastest growth among end-user types in the coming years.”
The market is segmented into original equipment (OE) and aftermarket. The OE segment is expected to continue generating the majority of demand, primarily due to ongoing production and deliveries of new aircraft, especially in the commercial aircraft (including both narrow-body and wide-body aircraft). As a result, the OE segment is also expected to grow at a faster pace during the forecast period.
Regional Analysis
“North America is expected to remain the largest market over the next few years, whereas Asia-Pacific is likely to grow at the fastest rate.”
North America is forecasted to remain the largest market for aircraft milled parts, led by the presence of major OEMs like Boeing, Airbus, Lockheed Martin, Bombardier Inc., and Gulfstream Aerospace, along with a well-established network of tier suppliers and milled part manufacturers. The United States is expected to be the top-performing market, both regionally and globally, throughout the forecast period.
In contrast, Asia-Pacific is poised to offer tremendous growth opportunities. Countries like China and India are investing heavily in defense modernization, increasing their military aircraft procurement to strengthen national security. Indigenous programs such as Tejas (India) and J-20 (China), along with offset policies promoting local production, are boosting demand for milled components in the region.
Key Players
The market is highly populated, with the presence of several local, regional, and global players. The major market players have an excellent product development capability, and they compete in some of the governing factors, including price, product offerings, regional presence, etc. These players hold distinct capabilities in manufacturing aerospace milled parts. As a whole, the following are the key players in the aircraft milling market:
Here is the list of the Top Players (Based on Dominance)
- Spirit AeroSystems, Inc.
- GKN Aerospace
- Collins Aerospace
- Mitsubishi Heavy Industries, Ltd.
- Premium AEROTEC GmbH (Airbus Aerostructures GmbH)
- STELIA Aerospace (Airbus Atlantic)
- Howmet Aerospace Inc.
- Precision Castparts Corp.
- MTU Aero Engines AG
- GE Aerospace
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Please write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The aircraft milling market is segmented into the following categories.
Aircraft Milling Market, by Aircraft Type
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Regional Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Helicopter (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Milling Market, by Application Type
- Airframe (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Engine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Landing Gear (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other Applications (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Milling Market, by Material Type
- Aluminum (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Stainless Steel (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Titanium (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Other Metals & Alloys (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Milling Market, by End-User Type
- OE (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Aircraft Milling Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and The Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s aircraft milling market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across industries. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
