Aerospace Parts Manufacturing Market Forecast (2025-2031)
The Aerospace Parts Manufacturing Market is expected to register a CAGR of 7.9% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Product (Engines, Cabin Interiors, Wings, Avionics, Landing Gears, Insulation Equipment, Others); End-Use (Commercial Aircraft, Business Aircraft, Military Aircraft, Other). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Aerospace Parts Manufacturing Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aerospace Parts Manufacturing Market Segmentation
Product- Engines
- Cabin Interiors
- Wings
- Avionics
- Landing Gears
- Insulation Equipment
- Others
- Commercial Aircraft
- Business Aircraft
- Military Aircraft
- Other
Strategic Insights
Aerospace Parts Manufacturing Market Growth Drivers- Increasing Demand for Electric Aircraft Components: Customization and Modular Solutions: The food sorting machine market is seeing an increase in customization, as manufacturers aim to create personalized solutions to satisfy the distinct needs of various food varieties. Modular sorting machines, which enable simple modifications and scalability, are gaining popularity. These systems can be customized with various sensor types, processing rates, and sorting capacities, making them appropriate for a wide range of food products, including fragile fruits, hard-shell nuts, and processed meat products. Customization and adaptability allow food processors to choose sorting equipment that meet their individual processing requirements and volume demands.
- Rising Air Traffic and Aircraft Fleet Expansion: Global air traffic has continuously increased, and so has the demand for new aircraft. The rise in air travel and the development of airline fleets are important drivers of aerospace parts production. As airlines and governments invest in commercial and military aircraft, the demand for a wide range of components (engines, avionics, landing gear, wing structures, etc.) grows. Furthermore, the necessity for spare parts, maintenance, repair, and overhaul (MRO) services for current aircraft increases the demand for high-quality aerospace components.
- Investments Defense and Space Exploration: Investments in defense and space development have considerably boosted the aerospace components manufacturing industry. Governments around the world are making significant investments in military aircraft, drones, and space exploration technologies. With the increased interest in space tourism, satellite constellations, and deep space missions, manufacturers are being asked to produce high-performance components for these next-generation aerospace systems. The defense sector's emphasis on improved fighter planes, unmanned aerial vehicles (UAVs), and cutting-edge missile systems is also boosting market growth.
- Growing Automation and Digitalization of Manufacturing Processes: As sustainability becomes a top focus across industries, aircraft component manufacturers are implementing more environmentally friendly processes. Green production involves reducing energy use, minimizing waste, and employing environmentally friendly products. In response to the aerospace industry's demand for fuel-efficient aircraft and eco-friendly propulsion systems, manufacturers are focusing on manufacturing parts that help reduce aircraft's environmental footprint. This includes making components lighter, increasing fuel efficiency, and creating technologies to accommodate hybrid and electric aircraft systems.
- Developing Modular and Standardized Component Design: The aerospace industry is seeing an increase in the use of modular and standard component designs. The adoption of standardized parts across multiple aircraft models and platforms enables manufacturers to streamline production and cut costs. It also makes it easier to maintain, repair, and replace parts because standardized components are more readily available and may be utilized across systems. Modular design allows manufacturers to provide more flexible and adaptable parts that may be adjusted to specific needs without sacrificing efficiency or cost-effectiveness. This tendency is notably important in the manufacturing of components for commercial aviation and military systems.
- Demand for 3D Printing and Additive Manufacturing: The use of additive manufacturing, or 3D printing, is altering the aerospace parts production business by enabling the creation of highly complex and personalized components with minimal material waste. This technology is especially beneficial for creating lightweight, high-strength items that are difficult or expensive to fabricate using existing methods. Manufacturers can use 3D printing for rapid prototype, part replacement, and low-volume production, which reduces lead times and costs. This technology is also being used to produce parts for aircraft applications that need exceptional precision and performance, providing new business opportunities for aerospace parts producers.
- Focus on Sustainability and Green Manufacturing Processes: As sustainability becomes a top focus across industries, aircraft component manufacturers are implementing more environmentally friendly processes. Green production involves reducing energy use, minimizing waste, and employing environmentally friendly products. In response to the aerospace industry's demand for fuel-efficient aircraft and eco-friendly propulsion systems, manufacturers are focusing on manufacturing parts that help reduce aircraft's environmental footprint. This includes making components lighter, increasing fuel efficiency, and creating technologies to accommodate hybrid and electric aircraft systems.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aerospace Parts Manufacturing Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aerospace Parts Manufacturing Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the major trends driving the aerospace parts manufacturing market are:
1. Introduction of Next Generation Aircraft
The major factors driving the aerospace parts manufacturing market are:
1. Increasing Aircraft Production
2. Healthy Growth in Aircraft MRO Sector
The Aerospace Parts Manufacturing Market is estimated to witness a CAGR of 7.9% from 2023 to 2031
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Aerospace Parts Manufacturing Market - By Product
1.3.2Aerospace Parts Manufacturing Market - By End-Use
1.3.3Aerospace Parts Manufacturing Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.AEROSPACE PARTS MANUFACTURING MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.ECOSYSTEM ANALYSIS
4.4.EXPERT OPINIONS
5.AEROSPACE PARTS MANUFACTURING MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.AEROSPACE PARTS MANUFACTURING MARKET - GLOBAL MARKET ANALYSIS
6.1.AEROSPACE PARTS MANUFACTURING - GLOBAL MARKET OVERVIEW
6.2.AEROSPACE PARTS MANUFACTURING - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.AEROSPACE PARTS MANUFACTURING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1.OVERVIEW
7.2.PRODUCT MARKET FORECASTS AND ANALYSIS
7.3.ENGINES
7.3.1.Overview
7.3.2.Engines Market Forecast and Analysis
7.4.AIRCRAFT MANUFACTURING
7.4.1.Overview
7.4.2.Aircraft Manufacturing Market Forecast and Analysis
7.5.CABIN INTERIORS
7.5.1.Overview
7.5.2.Cabin Interiors Market Forecast and Analysis
7.6.EQUIPMENT SYSTEM AND SUPPORT
7.6.1.Overview
7.6.2.Equipment System and Support Market Forecast and Analysis
7.7.AVIONICS
7.7.1.Overview
7.7.2.Avionics Market Forecast and Analysis
7.8.INSULATION COMPONENTS
7.8.1.Overview
7.8.2.Insulation Components Market Forecast and Analysis
8.AEROSPACE PARTS MANUFACTURING MARKET - REVENUE AND FORECASTS TO 2028 - END-USE
8.1.OVERVIEW
8.2.END-USE MARKET FORECASTS AND ANALYSIS
8.3.COMMERCIAL AIRCRAFT
8.3.1.Overview
8.3.2.Commercial Aircraft Market Forecast and Analysis
8.4.BUSINESS AIRCRAFT
8.4.1.Overview
8.4.2.Business Aircraft Market Forecast and Analysis
8.5.MILITARY AIRCRAFT
8.5.1.Overview
8.5.2.Military Aircraft Market Forecast and Analysis
8.6.OTHER
8.6.1.Overview
8.6.2.Other Market Forecast and Analysis
9.AEROSPACE PARTS MANUFACTURING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Aerospace Parts Manufacturing Market Overview
9.1.2North America Aerospace Parts Manufacturing Market Forecasts and Analysis
9.1.3North America Aerospace Parts Manufacturing Market Forecasts and Analysis - By Product
9.1.4North America Aerospace Parts Manufacturing Market Forecasts and Analysis - By End-Use
9.1.5North America Aerospace Parts Manufacturing Market Forecasts and Analysis - By Countries
9.1.5.1United States Aerospace Parts Manufacturing Market
9.1.5.1.1United States Aerospace Parts Manufacturing Market by Product
9.1.5.1.2United States Aerospace Parts Manufacturing Market by End-Use
9.1.5.2Canada Aerospace Parts Manufacturing Market
9.1.5.2.1Canada Aerospace Parts Manufacturing Market by Product
9.1.5.2.2Canada Aerospace Parts Manufacturing Market by End-Use
9.1.5.3Mexico Aerospace Parts Manufacturing Market
9.1.5.3.1Mexico Aerospace Parts Manufacturing Market by Product
9.1.5.3.2Mexico Aerospace Parts Manufacturing Market by End-Use
9.2.EUROPE
9.2.1Europe Aerospace Parts Manufacturing Market Overview
9.2.2Europe Aerospace Parts Manufacturing Market Forecasts and Analysis
9.2.3Europe Aerospace Parts Manufacturing Market Forecasts and Analysis - By Product
9.2.4Europe Aerospace Parts Manufacturing Market Forecasts and Analysis - By End-Use
9.2.5Europe Aerospace Parts Manufacturing Market Forecasts and Analysis - By Countries
9.2.5.1Germany Aerospace Parts Manufacturing Market
9.2.5.1.1Germany Aerospace Parts Manufacturing Market by Product
9.2.5.1.2Germany Aerospace Parts Manufacturing Market by End-Use
9.2.5.2France Aerospace Parts Manufacturing Market
9.2.5.2.1France Aerospace Parts Manufacturing Market by Product
9.2.5.2.2France Aerospace Parts Manufacturing Market by End-Use
9.2.5.3Italy Aerospace Parts Manufacturing Market
9.2.5.3.1Italy Aerospace Parts Manufacturing Market by Product
9.2.5.3.2Italy Aerospace Parts Manufacturing Market by End-Use
9.2.5.4United Kingdom Aerospace Parts Manufacturing Market
9.2.5.4.1United Kingdom Aerospace Parts Manufacturing Market by Product
9.2.5.4.2United Kingdom Aerospace Parts Manufacturing Market by End-Use
9.2.5.5Russia Aerospace Parts Manufacturing Market
9.2.5.5.1Russia Aerospace Parts Manufacturing Market by Product
9.2.5.5.2Russia Aerospace Parts Manufacturing Market by End-Use
9.2.5.6Rest of Europe Aerospace Parts Manufacturing Market
9.2.5.6.1Rest of Europe Aerospace Parts Manufacturing Market by Product
9.2.5.6.2Rest of Europe Aerospace Parts Manufacturing Market by End-Use
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Aerospace Parts Manufacturing Market Overview
9.3.2Asia-Pacific Aerospace Parts Manufacturing Market Forecasts and Analysis
9.3.3Asia-Pacific Aerospace Parts Manufacturing Market Forecasts and Analysis - By Product
9.3.4Asia-Pacific Aerospace Parts Manufacturing Market Forecasts and Analysis - By End-Use
9.3.5Asia-Pacific Aerospace Parts Manufacturing Market Forecasts and Analysis - By Countries
9.3.5.1Australia Aerospace Parts Manufacturing Market
9.3.5.1.1Australia Aerospace Parts Manufacturing Market by Product
9.3.5.1.2Australia Aerospace Parts Manufacturing Market by End-Use
9.3.5.2China Aerospace Parts Manufacturing Market
9.3.5.2.1China Aerospace Parts Manufacturing Market by Product
9.3.5.2.2China Aerospace Parts Manufacturing Market by End-Use
9.3.5.3India Aerospace Parts Manufacturing Market
9.3.5.3.1India Aerospace Parts Manufacturing Market by Product
9.3.5.3.2India Aerospace Parts Manufacturing Market by End-Use
9.3.5.4Japan Aerospace Parts Manufacturing Market
9.3.5.4.1Japan Aerospace Parts Manufacturing Market by Product
9.3.5.4.2Japan Aerospace Parts Manufacturing Market by End-Use
9.3.5.5South Korea Aerospace Parts Manufacturing Market
9.3.5.5.1South Korea Aerospace Parts Manufacturing Market by Product
9.3.5.5.2South Korea Aerospace Parts Manufacturing Market by End-Use
9.3.5.6Rest of Asia-Pacific Aerospace Parts Manufacturing Market
9.3.5.6.1Rest of Asia-Pacific Aerospace Parts Manufacturing Market by Product
9.3.5.6.2Rest of Asia-Pacific Aerospace Parts Manufacturing Market by End-Use
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Aerospace Parts Manufacturing Market Overview
9.4.2Middle East and Africa Aerospace Parts Manufacturing Market Forecasts and Analysis
9.4.3Middle East and Africa Aerospace Parts Manufacturing Market Forecasts and Analysis - By Product
9.4.4Middle East and Africa Aerospace Parts Manufacturing Market Forecasts and Analysis - By End-Use
9.4.5Middle East and Africa Aerospace Parts Manufacturing Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Aerospace Parts Manufacturing Market
9.4.5.1.1South Africa Aerospace Parts Manufacturing Market by Product
9.4.5.1.2South Africa Aerospace Parts Manufacturing Market by End-Use
9.4.5.2Saudi Arabia Aerospace Parts Manufacturing Market
9.4.5.2.1Saudi Arabia Aerospace Parts Manufacturing Market by Product
9.4.5.2.2Saudi Arabia Aerospace Parts Manufacturing Market by End-Use
9.4.5.3U.A.E Aerospace Parts Manufacturing Market
9.4.5.3.1U.A.E Aerospace Parts Manufacturing Market by Product
9.4.5.3.2U.A.E Aerospace Parts Manufacturing Market by End-Use
9.4.5.4Rest of Middle East and Africa Aerospace Parts Manufacturing Market
9.4.5.4.1Rest of Middle East and Africa Aerospace Parts Manufacturing Market by Product
9.4.5.4.2Rest of Middle East and Africa Aerospace Parts Manufacturing Market by End-Use
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Aerospace Parts Manufacturing Market Overview
9.5.2South and Central America Aerospace Parts Manufacturing Market Forecasts and Analysis
9.5.3South and Central America Aerospace Parts Manufacturing Market Forecasts and Analysis - By Product
9.5.4South and Central America Aerospace Parts Manufacturing Market Forecasts and Analysis - By End-Use
9.5.5South and Central America Aerospace Parts Manufacturing Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Aerospace Parts Manufacturing Market
9.5.5.1.1Brazil Aerospace Parts Manufacturing Market by Product
9.5.5.1.2Brazil Aerospace Parts Manufacturing Market by End-Use
9.5.5.2Argentina Aerospace Parts Manufacturing Market
9.5.5.2.1Argentina Aerospace Parts Manufacturing Market by Product
9.5.5.2.2Argentina Aerospace Parts Manufacturing Market by End-Use
9.5.5.3Rest of South and Central America Aerospace Parts Manufacturing Market
9.5.5.3.1Rest of South and Central America Aerospace Parts Manufacturing Market by Product
9.5.5.3.2Rest of South and Central America Aerospace Parts Manufacturing Market by End-Use
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.AEROSPACE PARTS MANUFACTURING MARKET, KEY COMPANY PROFILES
11.1.AEQUS
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.CAMAR AIRCRAFT PARTS COMPANY
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.EATON CORPORATION PLC
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.ENGINEERED PROPULSION SYSTEM
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.INTREX AEROSPACE
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.JAMCO CORPORATION
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.ROLLS ROYCE PLC
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.SAFRAN GROUP
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.WOODWARD, INC.
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.AERO ENGINEERING AND MANUFACTURING CO.
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1. Aequs
2. CAMAR Aircraft Parts Company
3. Eaton Corporation Plc
4. Engineered Propulsion System
5. Intrex Aerospace
6. JAMCO Corporation
7. Rolls Royce PLC
8. Safran Group
9. Woodward, Inc.
10. Aero Engineering and Manufacturing Co.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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