The aviation component manufacturing industry mainly refers to the manufacturing of various spare parts for aviation aircraft. This includes the manufacturing of aircraft body components, aviation engine components, instruments, onboard equipment, hydraulic systems, and accessories, but does not include component assembly, aviation engine assembly, and overall assembly. Aviation aircraft components are divided into civil aircraft components and military aircraft components. The aviation components analyzed in this article specifically refer to civil aircraft components and civil aviation engine components.

According to the report "2019-2025 China Aviation Parts Industry Panoramic Survey and Investment Strategy Research Consulting Report" by China Academy of Industry Research

According to the different materials, aviation components can be processed from metal materials (stainless steel, magnesium alloy, titanium alloy, aluminum alloy, structural steel, high-temperature alloy, etc.) and non-metallic materials (aviation ceramics, special ceramics, special rubber, carbon fiber, etc.). Titanium alloy, stainless steel, aluminum alloy, and various composite materials are widely used in the manufacturing of aircraft reinforcement frames, wing beams, and ribs to meet the high strength and weight reduction requirements of aviation components. Basic sheet metal, profiles, and pipes are formed by sheet metal parts (hot forming, bending, etc.), machined (cutting, etc.), and then processed into aircraft components through special processes. A large civil aviation aircraft has millions of parts and requires thousands of supporting suppliers to produce them. Against the backdrop of the country's vigorous development of the aviation industry, aviation component manufacturing has broad market prospects.

Development prospects of aviation components industry

At present, the civil aviation industry has begun to fully relax industry access from a capital perspective, encouraging and supporting various investment entities to invest and operate general aviation, aviation maintenance, and other civil aviation related projects in the form of sole proprietorship or equity participation. The domestic policy for the civil aviation manufacturing industry is to classify and support the development of civil aircraft products: the development of large and medium-sized civil aircraft models is supported by the state as a key focus; The development and production of small and medium-sized civil aircraft, engine components, and onboard equipment are mainly invested by enterprises. Local enterprises, private enterprises, and foreign enterprises are encouraged to cooperate with domestic aviation enterprises through joint ventures and equity investments. The state mainly provides policy support and partial subsidies; Encourage local enterprises, private enterprises, and foreign enterprises to become independent. At the same time, providing preferential support policies in export credit, financing leasing, and taxation for the civil aircraft industry, creating a favorable development environment for civil aircraft enterprises; Continue to support enterprise technological transformation.

At present, the development of the industry is still in the early stages of growth, and the Chinese aviation parts market is mainly facing four major driving factors and two major limiting factors. The main driving factors are the maturity of technology and the trend towards a stable macro environment; With the support of national policies and the development trend of the macroeconomic environment, the development of China's aviation components industry has received strong driving force. However, due to the heavy impact of the epidemic on the downstream aviation industry, the development of the demand side of the aviation parts market is constrained. However, with the arrival of the post epidemic era and the active adjustment of the aviation industry, the aviation parts market will also overcome the influence of restrictive factors and gradually return to the right track.

As the aviation component manufacturing market gradually matures, the technological demand for aviation component manufacturing will become increasingly high. The aviation component manufacturing industry is currently in a period of development, which has also driven most enterprises to transform and upgrade in order to share the benefits brought by the rapid development of the industry. With the addition of private enterprises, the aviation component manufacturing industry is experiencing technological growth. The development of high-tech will further improve the safety level of civil aviation and the performance level of military aircraft, promoting the sustained and rapid development of the aviation component manufacturing industry.

With the development of the Chinese economy, the commercial engine market in China will be one of the fastest-growing and largest markets in the world in the next twenty years. The global civil aviation market is expected to double in size in the next 20 years, and it is expected that China will become the world's largest aviation market by 2032, with an added value of approximately 647 billion US dollars (equivalent to nearly 4 trillion yuan). The significant increase in demand for complete machines will inevitably drive up the demand for aviation components.

To learn more about the development prospects of the aviation parts industry, please refer to the 2019-2025 China Aviation Parts Industry Panoramic Survey and Investment Strategy Research Consulting Report.