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Mexico Aerospace Market Size, Share, Trends, Growth, Report: By Revenue Stream: Manufacturing, Engineering and Design, Maintenance, Repair, and Overhaul; By End-User: Government, Private Sector; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Mexico Aerospace Market Outlook
The Mexico aerospace market size reached USD 11.73 billion in 2023. The market is projected to grow at a CAGR of 17.2% between 2024 and 2032, reaching almost USD 48.75 billion by 2032.
Key Takeaways
- In 2020-21, Mexico attracted an FDI of $5.5 billion towards its aerospace manufacturing sector.
- Mexico is among the top 10 suppliers of critical aerospace parts and equipment to the United States.
- A 10% y-o-y increase in the export of aerospace parts was recorded in 2019 from Mexico.
Nearshoring has emerged as one of the key Mexico aerospace market trends. This can be attributed to disruptions in global supply chain networks, which have prompted companies to shift their operations towards their main markets. Moreover, the low cost of manufacturing aerospace vehicles in Mexico, coupled with significant enhancements in quality (30%) and efficiency (50%), is expected to contribute towards the Mexico aerospace market growth.
The thriving metal mechanics sector of Monterrey has led to its emergence as a critical aerospace manufacturing hub. In November 2022, Honeywell International Inc. announced plans to expand its operations in the Global Centre of Supply Chain Excellence in Nuevo León, Mexico. Moreover, the expansion of operations by major aerospace companies located in Baja California is expected to foster innovations in the interior designs of aircraft, thereby supporting the market growth.
The growth of the commercial aviation sector has fuelled the demand for aircraft maintenance, repair, and overhaul services, thereby driving the Mexico aerospace market expansion. The need for modernisation of existing airline fleets, particularly those of low-cost carriers, including Interjet and Volga, is the primary driver for MRO services. Moreover, the ageing structure of Mexico’s military fleet has also increased demand for MRO services, thereby impacting the aerospace market favourably.
Market Segmentation
Mexico Aerospace Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Revenue Stream
- Manufacturing
- Engineering and Design
- Maintenance, Repair, and Overhaul
Market Breakup by End User
- Government
- Private Sector
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Major companies in the Mexico aerospace market are focusing on upscaling their manufacturing capacities to meet the increasing export demand and bolster the nation’s economic growth.
The key market players are Airbus SE, Safran SA, Bombardier Inc., Daher, Dassault Aviation SA, Ducommun Incorporated, General Electric Company, Honeywell International Inc, Textron, Inc, and The Boeing Company, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Revenue Stream |
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| Breakup by End-User |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Mexico Aerospace Market Overview
8.1 Key Industry Highlights
8.2 Mexico Aerospace Historical Market (2018-2023)
8.3 Mexico Aerospace Market Forecast (2024-2032)
9 Mexico Aerospace Market by Revenue Stream
9.1 Manufacturing
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Engineering and Design
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Maintenance, Repair, and Overhaul
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
10 Mexico Aerospace Market by End-User
10.1 Government
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Private Sector
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Mexico Aerospace Market by Region
11.1 Baja California
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Northern Mexico
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 The Bajío
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Central Mexico
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Pacific Coast
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Yucatan Peninsula
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyers Powers
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Airbus SE
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Safran SA
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Bombardier Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Daher
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Dassault Aviation SA
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Ducommun Incorporated
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 General Electric Company
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Honeywell International Inc
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Textron, Inc
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 The Boeing Company
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Mexico Aerospace Market: Key Industry Highlights, 2018 and 2032
2. Mexico Aerospace Historical Market: Breakup by Revenue Stream (USD Billion), 2018-2023
3. Mexico Aerospace Market Forecast: Breakup by Revenue Stream (USD Billion), 2024-2032
4. Mexico Aerospace Historical Market: Breakup by End-User (USD Billion), 2018-2023
5. Mexico Aerospace Market Forecast: Breakup by End-User (USD Billion), 2024-2032
6. Mexico Aerospace Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Mexico Aerospace Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. Mexico Aerospace Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 11.73 billion in 2023.
The market is projected to grow at a CAGR of 17.2% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 48.75 billion in 2032.
The different revenue streams in the market include manufacturing, engineering and design, and maintenance, repair, and overhaul.
The major end users in the market include government and the private sector.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Airbus SE, Safran SA, Bombardier Inc., Daher, Dassault Aviation SA, Ducommun Incorporated, General Electric Company, Honeywell International Inc, Textron, Inc, and The Boeing Company, among others.
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