Aerospace Market in Mexico by End-user and Revenue Stream - Forecast and Analysis 2023-2027

Published: Dec 2022

Pages: 121

SKU: IRTNTR74769

Snapshot

Mexico - Aerospace Market Forecast 2023-2027

The Mexico - Aerospace Market is estimated to grow by USD 8,375.16 million at a CAGR of 18.27% between 2022 and 2027. 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.

What will be the size of the Market During the Forecast Period?

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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 Driver

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 Trend

Growing aerospace export is one of the major market trends. The Mexican aerospace industry federation experienced a 14% average annual export growth from 2004-2019, due to favorable export programs like the Maquiladora Export Program, which allowed duty-free imports to assemble products for export in the aerospace market.

Furthermore, the emergence of small-scale companies 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 Challenge

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 market growth and trends in focus during the forecast period.

Key Customer Landscape

The market growth analysis 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 market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Aerospace Market Companies in Mexico?

Companies 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.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

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. 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 continued 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.

Market Analyst Overview

The Mexico aerospace market showcases robust growth, propelled by aerospace industrial exports and a thriving manufacturing sector. Key players include aerospace manufacturing firms, supported by the Federación Mexicana de la Industria Aerospacial (FEMIA). Trade agreements bolster the Mexican economy, attracting investments from Canada, France, and Germany. With expertise in engines, fuselages, cargo doors, and avionics, Mexico offers competitive advantages, including lower labor costs and proximity to the United States. Collaborations with industry giants like The Boeing Company and Airbus SE bolster market presence. Strategic locations in Baja California, Sonora, Nuevo Leon, and Chihuahua capitalize on a skilled workforce, bolstered by universities fostering design and engineering capabilities, driving market competition.

Segment Overview

The market research 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.

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
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 18.27%
Market growth 2023-2027	USD 8,375.16 million
Market structure	Fragmented
YoY growth 2022-2023(%)	17.98
Competitive landscape	Leading Companies, Market Positioning of Companies, 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 market research and growth report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Trends and Analysis Report?

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 companies
Comprehensive analysis of factors that will challenge the growth of the aerospace market companies in Mexico

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Table of Contents

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

Methodology

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

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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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