The report, from Stratview Research, is another flagship report in our research portfolio of aircraft machined components. Similar to our report on aircraft milled parts market, this report provides a comprehensive analysis of briskly changing market dynamics, competitive landscape, as well as future market possibilities till 2025. The 220+page thoroughgoing report is designed to assist the market stakeholders as well as investors in the identification of early recovering market segments as well as the future market growth potentials to formulate short- as well as long-term growth strategies. This report also provides an estimate of the possible loss incurred in the market due to the pandemic and possible ways of recoveries in the market aftermath of the pandemic.
Aircraft Turned Parts Market: Highlights
Turning is a machining process used to obtain highly finished cylindrical parts with the help of single point cutting tools. Through turning, both solid, as well as thin-walled cylindrical parts, can be formed. Some of the specific turning operations are hard turning, spherical generation, tapered turning, facing, grooving, and parting. Critical landing gear and aero-engine components, such as lock actuators, piston & cylinder actuators, axles, shock absorbers, engine shafts, thrust links, rotor masts, pressure vessel components, bearing carriers, and small forgings; are some of the key aircraft parts made through the turning process. Aircraft turned parts capture a considerable share of the overall aircraft machined components market. Major players active in the market also have capability to develop parts through other machining processes.
Impact of COVID-19 on the Aircraft Turned Parts Market
The rapid spread of COVID-19 exacerbated the existing aerospace industry challenges, hampered by the B737 max approval process. The pandemic left no options for aircraft manufacturers but to curtail their key aircraft production rates. For instance, Airbus announced to curtail its production by 1/3rd for 2020 with the revised rate of 40 A320s per month, 6 A350s per month, and 2 A330s per month, owing to a sudden collapse in air passenger traffic in the wake of complete travel ban imposed by several advanced and emerging economies. Supply chain disruptions, huge cash burns, remote and adjusted work schedules, and huge COVID-19-related costs sacking the profitability are other noticeable effects of the pandemic.