Aerospace Market in Mexico by End-user and Revenue Stream - Forecast and Analysis 2023-2027
- Published: Dec 2022
- Pages: 121
- SKU: IRTNTR74769
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The aerospace market in Mexico is estimated to grow at a CAGR of 18.27% between 2022 and 2027. The size of the market is forecast to increase by USD 8,375.16 Million. The growth of the market depends on several factors, including the favorable regulatory environment, the growing number of manufacturing firms, and the growing number of manufacturing firms.
This report extensively covers market segmentation by end-user (government and private sector), and revenue stream (manufacturing, engineering and design, maintenance, and repair and overhaul). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
What will be the size of the Aerospace Market In Mexico During the Forecast Period?
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Aerospace Market In Mexico: Key Drivers, Trends, Challenges, and Customer Landscape
The favorable regulatory environment is notably driving the market growth, although factors such as the downgrading of Mexican aviation regulations may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Aerospace Market Driver In Mexico
A favorable regulatory environment is a key factor in the growth of the Mexico aviation market. In the focal market, there was harmony according to established regulatory standards. The 2012 Bilateral Aviation Safety Agreement (BASA) provided mutual recognition of aerospace standards between the United States and Mexico, such as the National Aerospace and Defense Contractors Accreditation Program (NADCAP) and the AS9100 aerospace quality management system, as well as certifications from the US Federal Aviation Administration (FAA) and its Mexican counterpart, the Federal Agency of Civil Aviation (Agencia Federal de Aviacion Civil or AFAC). These developments facilitated the growth of manufacturing operations in the aerospace industry.
Significant Aerospace Market Trend In Mexico
Growing aerospace export is the primary trend in the aerospace market growth in Mexico. The Mexican aerospace industry federation experienced a 14% average annual export growth from 2004-2019, due to favorable export programs like Maquiladora Export Program, which allowed duty-free imports to assemble products for export in the aerospace market. However, due to the COVID-19 pandemic, Mexican exports declined by more than 20% in 2020. Nevertheless, the export sector is expected to rebound with support from the government.
Furthermore, the emergence of small-scale vendors and major aircraft OEMs and suppliers, along with a low-cost manufacturing ecosystem, is expected to contribute to the growth in exports from the country during the forecast period, which in turn, will propel the growth of the market in focus.
Major Aerospace Market Challenge In Mexico
Downgrading Mexican aviation regulations is a major challenge to the aerospace market growth in Mexico. The Mexican aviation regulatory was downgraded from Category 1 to Category 2 by the US FAA in 2021. This had a two-fold impact. The first is the denial of new routes and aircraft changes. Second, US airlines would not share codes to sell tickets on Mexican carriers.
However, Mexican carriers can sell tickets for service on US carriers to the US. Such issues are expected to hinder the growth of the market in focus during the forecast period.
Key Aerospace Market In Mexico Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aerospace Market in Mexico Customer Landscape
Who are the Major Aerospace Market Vendors in Mexico?
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bombardier- The company offers aerospace products such as aircraft equipment. Also, under this segment, the company designs, manufactures, markets, and provides aftermarket services for business jets.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
- Airbus Group SE
- BASF SE
- DAHER
- Dassault Aviation SA
- Ducommun Inc.
- General Dynamics Corp.
- General Electric Co.
- GKN Aerospace Services Ltd.
- Honeywell International Inc.
- Mitsubishi Heavy Industries Ltd.
- Parker Hannifin Corp.
- Raytheon Technologies Corp.
- Safran SA
- Textron Inc.
- Thales Group
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
What is the Fastest-Growing Segment in the Aerospace Market In Mexico?
The market share growth by the government segment will be significant during the forecast period. The government segment by end user dominated the aerospace market in Mexico in 2022. It is expected to dominate during the forecast period. This is due to government control over a large number of airports. For instance, Aeropuertos y Servicios Auxiliares (ASA), a Mexican aerospace agency, operates 19 airports apart from 5 co-operated additional airports, including Toluca, Queretaro, Cuernavaca, Palenque, and Tuxtla Gutierrez. It supplies fuel to 63 airports with an estimated passenger handling capacity of 2.7 million passengers in 2021.
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The government segment was valued at USD 2,297.43 million in 2017 and continue to grow by 2021. In addition, the government is also focusing on creating a state-owned, army-run airline that would fly ten leased airplanes. Also, defense budget allocation to the air force of about USD 1.9 billion in 2022 for two-seater airplanes and experimental training airplanes is propelling the growth government segment, which in turn, will propel the growth of the market in focus during the forecast period.
Parent Market Analysis
Technavio categorizes the aerospace market in Mexico as a part of the global aerospace and defense market. The parent, global aerospace and defense market covers products and companies engaged in the production of aerial platforms used under commercial and general aviation; defense platforms used under naval, land, and air domains; arms and ammunition; defense electronics; defense logistics equipment; and space platforms, equipment, and launch vehicles. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Segment Overview
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by End-user (Government and Private sector), and Revenue Stream (Manufacturing, Engineering and design, Maintenace, and Repair and Overhaul)
- End-User Outlook (USD Million, 2017 - 2027)
- Government
- Private sector
- Revenue stream Outlook (USD Million, 2017 - 2027)
- Manufacturing
- Engineering and design
- Maintenance
- Repair and Overhaul
|
Aerospace Market In Mexico Scope |
|
|
Report Coverage |
Details |
|
Page number |
121 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 18.27% |
|
Market growth 2023-2027 |
USD 8,375.16 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
17.98 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Airbus Group SE, BASF SE, Bombardier Inc., DAHER, Dassault Aviation SA, Ducommun Inc., General Dynamics Corp., General Electric Co., GKN Aerospace Services Ltd., Honeywell International Inc., Mitsubishi Heavy Industries Ltd., Parker Hannifin Corp., Raytheon Technologies Corp., Safran SA, Textron Inc., Thales Group, and The Boeing Co. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Aerospace Market Report In Mexico?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the aerospace market in Mexico between 2023 and 2027
- Precise estimation of the size of the aerospace market size in Mexico and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market industry across Mexico
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of the aerospace market vendors in Mexico
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1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Revenue Stream
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 10: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on Mexico - Market size and forecast 2022-2027 ($ million)
- Exhibit 12: Data Table on Mexico - Market size and forecast 2022-2027 ($ million)
- Exhibit 13: Chart on Mexico: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on Mexico: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Aerospace market in Mexico 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Aerospace market in Mexico 2017 - 2021 ($ million)
- 4.2 End-User Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – End-User Segment 2017 - 2021 ($ million)
- 4.3 Revenue stream Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Revenue stream Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 25: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 26: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 27: Chart on Comparison by End-user
- Exhibit 28: Data Table on Comparison by End-user
- 6.3 Government - Market size and forecast 2022-2027
- Exhibit 29: Chart on Government - Market size and forecast 2022-2027 ($ million)
- Exhibit 30: Data Table on Government - Market size and forecast 2022-2027 ($ million)
- Exhibit 31: Chart on Government - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Government - Year-over-year growth 2022-2027 (%)
- 6.4 Private sector - Market size and forecast 2022-2027
- Exhibit 33: Chart on Private sector - Market size and forecast 2022-2027 ($ million)
- Exhibit 34: Data Table on Private sector - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Chart on Private sector - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Private sector - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by End-user
- Exhibit 37: Market opportunity by End-user ($ million)
7 Market Segmentation by Revenue Stream
- 7.1 Market segments
- Exhibit 38: Chart on Revenue Stream - Market share 2022-2027 (%)
- Exhibit 39: Data Table on Revenue Stream - Market share 2022-2027 (%)
- 7.2 Comparison by Revenue Stream
- Exhibit 40: Chart on Comparison by Revenue Stream
- Exhibit 41: Data Table on Comparison by Revenue Stream
- 7.3 Manufacturing - Market size and forecast 2022-2027
- Exhibit 42: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)
- 7.4 Engineering and design - Market size and forecast 2022-2027
- Exhibit 46: Chart on Engineering and design - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Engineering and design - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Engineering and design - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Engineering and design - Year-over-year growth 2022-2027 (%)
- 7.5 Maintenace, Repair and Overhaul - Market size and forecast 2022-2027
- Exhibit 50: Chart on Maintenace, Repair and Overhaul - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on Maintenace, Repair and Overhaul - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on Maintenace, Repair and Overhaul - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on Maintenace, Repair and Overhaul - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Revenue Stream
- Exhibit 54: Market opportunity by Revenue Stream ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Impact of drivers and challenges
- Exhibit 56: Impact of drivers and challenges in 2022 and 2027
- 9.4 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Vendor landscape
- Exhibit 57: Overview on Criticality of inputs and Factors of differentiation
- 10.3 Landscape disruption
- Exhibit 58: Overview on factors of disruption
- 10.4 Industry risks
- Exhibit 59: Impact of key risks on business
11 Vendor Analysis
- 11.1 Vendors covered
- Exhibit 60: Vendors covered
- 11.2 Market positioning of vendors
- Exhibit 61: Matrix on vendor position and classification
- 11.3 Airbus Group SE
- Exhibit 62: Airbus Group SE - Overview
- Exhibit 63: Airbus Group SE - Business segments
- Exhibit 64: Airbus Group SE - Key news
- Exhibit 65: Airbus Group SE - Key offerings
- Exhibit 66: Airbus Group SE - Segment focus
- 11.4 Bombardier Inc.
- Exhibit 67: Bombardier Inc. - Overview
- Exhibit 68: Bombardier Inc. - Product / Service
- Exhibit 69: Bombardier Inc. - Key offerings
- 11.5 DAHER
- Exhibit 70: DAHER - Overview
- Exhibit 71: DAHER - Product / Service
- Exhibit 72: DAHER - Key offerings
- 11.6 Dassault Aviation SA
- Exhibit 73: Dassault Aviation SA - Overview
- Exhibit 74: Dassault Aviation SA - Product / Service
- Exhibit 75: Dassault Aviation SA - Key offerings
- 11.7 General Dynamics Corp.
- Exhibit 76: General Dynamics Corp. - Overview
- Exhibit 77: General Dynamics Corp. - Business segments
- Exhibit 78: General Dynamics Corp. - Key news
- Exhibit 79: General Dynamics Corp. - Key offerings
- Exhibit 80: General Dynamics Corp. - Segment focus
- 11.8 General Electric Co.
- Exhibit 81: General Electric Co. - Overview
- Exhibit 82: General Electric Co. - Business segments
- Exhibit 83: General Electric Co. - Key news
- Exhibit 84: General Electric Co. - Key offerings
- Exhibit 85: General Electric Co. - Segment focus
- 11.9 GKN Aerospace Services Ltd.
- Exhibit 86: GKN Aerospace Services Ltd. - Overview
- Exhibit 87: GKN Aerospace Services Ltd. - Product / Service
- Exhibit 88: GKN Aerospace Services Ltd. - Key offerings
- 11.10 Honeywell International Inc.
- Exhibit 89: Honeywell International Inc. - Overview
- Exhibit 90: Honeywell International Inc. - Business segments
- Exhibit 91: Honeywell International Inc. - Key news
- Exhibit 92: Honeywell International Inc. - Key offerings
- Exhibit 93: Honeywell International Inc. - Segment focus
- 11.11 Mitsubishi Heavy Industries Ltd.
- Exhibit 94: Mitsubishi Heavy Industries Ltd. - Overview
- Exhibit 95: Mitsubishi Heavy Industries Ltd. - Business segments
- Exhibit 96: Mitsubishi Heavy Industries Ltd. - Key news
- Exhibit 97: Mitsubishi Heavy Industries Ltd. - Key offerings
- Exhibit 98: Mitsubishi Heavy Industries Ltd. - Segment focus
- 11.12 Parker Hannifin Corp.
- Exhibit 99: Parker Hannifin Corp. - Overview
- Exhibit 100: Parker Hannifin Corp. - Business segments
- Exhibit 101: Parker Hannifin Corp. - Key news
- Exhibit 102: Parker Hannifin Corp. - Key offerings
- Exhibit 103: Parker Hannifin Corp. - Segment focus
- 11.13 Raytheon Technologies Corp.
- Exhibit 104: Raytheon Technologies Corp. - Overview
- Exhibit 105: Raytheon Technologies Corp. - Business segments
- Exhibit 106: Raytheon Technologies Corp. - Key news
- Exhibit 107: Raytheon Technologies Corp. - Key offerings
- Exhibit 108: Raytheon Technologies Corp. - Segment focus
- 11.14 Safran SA
- Exhibit 109: Safran SA - Overview
- Exhibit 110: Safran SA - Business segments
- Exhibit 111: Safran SA - Key news
- Exhibit 112: Safran SA - Key offerings
- Exhibit 113: Safran SA - Segment focus
- 11.15 Textron Inc.
- Exhibit 114: Textron Inc. - Overview
- Exhibit 115: Textron Inc. - Business segments
- Exhibit 116: Textron Inc. - Key news
- Exhibit 117: Textron Inc. - Key offerings
- Exhibit 118: Textron Inc. - Segment focus
- 11.16 Thales Group
- Exhibit 119: Thales Group - Overview
- Exhibit 120: Thales Group - Business segments
- Exhibit 121: Thales Group - Key offerings
- Exhibit 122: Thales Group - Segment focus
- 11.17 The Boeing Co.
- Exhibit 123: The Boeing Co. - Overview
- Exhibit 124: The Boeing Co. - Business segments
- Exhibit 125: The Boeing Co. - Key news
- Exhibit 126: The Boeing Co. - Key offerings
- Exhibit 127: The Boeing Co. - Segment focus
12 Appendix
- 12.1 Scope of the report
- 12.2 Inclusions and exclusions checklist
- Exhibit 128: Inclusions checklist
- Exhibit 129: Exclusions checklist
- 12.3 Currency conversion rates for US$
- Exhibit 130: Currency conversion rates for US$
- 12.4 Research methodology
- Exhibit 131: Research methodology
- Exhibit 132: Validation techniques employed for market sizing
- Exhibit 133: Information sources
- 12.5 List of abbreviations
- Exhibit 134: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Frequently Asked Questions?
- Favorable regulatory environment
- Growing aerospace export
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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