As of 2018, the aerospace industry was last valued at $877 billion with an expected increase of profits by 3.9% within the upcoming seven years. However, while COVID-19 safety protocols had briefly halted this growth, air travel is seeing an exponential surge upon the ease of COVID-19 restrictions, posing no threat to the industry post 2022. Overall, this is fruitful news for global aircraft part manufacturers because, as aging aircraft necessitate frequent maintenance and part overhaul, they can simply be retired and replaced with more fuel-efficient and economic models. As this change is expected to occur over the next decade, here are a few of the top companies expected to dominate the aircraft part manufacturing industry.
A globally renowned name, Boeing has been in operation since 1916, spearheading the cutting-edge development of numerous aviation components, including: avionics, communication systems, engines, controls, modules, and much more. As of 2021, their focus is forecast to market towards the increasing demand in new commercial planes and the services they are capable of providing. Overall, by 2040, Boeing is estimated to construct upward of 43,500 vehicles, resulting in an accumulated $7.2 trillion in sales.
Pratt & Whitney
Centered in Midland, Georgia, Pratt & Whitney’s primary goal is to continuously evolve commercial and military aircraft engines, finding new and innovative ways to improve their operations through the implementation of new technologies. Although the drop in air traffic during the height of COVID-19 caused their manufacturing rates to plummet, their revenue has grown by 15% during the last three months of 2021, leading into 2022. As of now, they are within the world’s top-3 producers of turbofans and dominate the market regarding F-35 fighter powerplants.
Cobham Mission Systems LSS Inc.
Specializing in fabricating equipment necessary for life-support, air-to-air refuel, and control system technologies, among others, Cobham Mission Systems LSS Inc. values the relationship between long-term sustainability goals and what can feasibly be manufactured. Supplying to both the commercial and military verticals, they take these facts into consideration when working with stakeholders and consumers to generate a stable outcome.
Employing over 1,500 employees to collaborate on new technology, Collins Aerospace is strictly focused on improving precision equipment and other tools that provide more of an advantage to pilots. More than that, they offer around-the-clock customer care so that all procurement demands can be met in a timely manner.
The Atlas Group
Known for their ability to produce complex aerospace products, the Atlas Group initiates sales globally, and they primarily cater to the business and defense verticals. Focusing on the assembly of their parts, they approach fabrication in the most innovative and cost-effective manner to steadily grow revenue while keeping the cost of components down.
GKN Aerospace Transparency Systems, Inc.
GKN Aerospace Transparency Systems, Inc. solely prioritizes producing specific transparency systems for regional, commercial, and military aircraft, those of which include cabin windows, cockpit windows, passenger windows, and other related parts. As a tier 1 aerospace supplier, they have 35 locations spanning across 12 countries and serve over 90% of global engine and aircraft manufacturers with their supplies.
Proudly operating with AS9120B, ISO 9001:2015, and FAA AC 00-56B accreditation, at Automatize Aviation, we guarantee that all products listed in our database are only sourced from trusted manufacturers like Boeing, Colline Aerospace, Pratt & Whitney, and more, as listed. Moreover, to prove authenticity, all orders are shipped alongside their manufacturer trace documentation and/or qualifying certifications as per our NO CHINA Sourcing pledge.
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