Market Introduction: Key Takeaways
The Mexico aerospace market is expected to witness significant growth at a CAGR of 5.66% during the forecast period of 2023-2028. The aerospace industry in Mexico has been experiencing steady growth due to various factors, including the country’s strategic location, favorable government policies, and increasing investments in the aerospace sector.
The report highlights that Mexico has become an attractive destination for aerospace manufacturing and services due to its proximity to the United States, one of the largest aerospace markets in the world. The country’s well-developed manufacturing capabilities, competitive labor costs, and favorable trade agreements, such as the United States-Mexico-Canada Agreement (USMCA), have also contributed to its growing aerospace industry.
Here is a table of the aerospace market share analysis for the top 5 companies in the industry:
|Company||Market Share (2022)|
Market Drivers and Trend Analysis
The report highlights the significant investments being made in research and development (R&D) and innovation in the Mexico aerospace market. The Mexican government, along with industry stakeholders, has been actively promoting R&D activities and establishing innovation centers to boost the country’s aerospace capabilities and competitiveness in the global aerospace market.
Furthermore, the report identifies the strong presence of global aerospace companies in Mexico, including both original equipment manufacturers (OEMs) and aerospace suppliers. These companies are establishing production facilities in Mexico to take advantage of the favorable business environment, cost advantages, and access to skilled labor.
However, the report also notes some challenges facing the Mexico aerospace market, including the need for continued investments in infrastructure, technology, and skilled labor, as well as the increasing competition from other emerging aerospace markets globally.
Key Segmental Analysis
The report identifies the commercial aerospace segment as the major driver of the Mexico aerospace market, with increasing demand for commercial aircraft from both domestic and international markets. The growing trend of outsourcing aerospace manufacturing to Mexico by global aerospace companies has also fueled the growth of the market.
The aerospace market in Mexico can also be segmented based on different industry verticals such as commercial aviation, military aviation, and space exploration. The report may provide an analysis of the market size, growth potential, and trends in each industry vertical, including key drivers and challenges.
Global and Regional Market Analysis – Based on Market Intelligence
The northern regions of Mexico, this region is considered a major aerospace manufacturing hub in Mexico, with several aerospace companies establishing their production facilities in cities such as Monterrey, Chihuahua, and Sonora. The region is known for its expertise in manufacturing aircraft components, avionics, and metalworking, and has a strong supply chain network to support the aerospace industry.
Central regions of Mexico, this region, including cities such as Queretaro, Puebla, and Mexico City, is also witnessing significant growth in the aerospace industry. It is known for its manufacturing expertise in aerospace interiors, electrical systems, and engine components. The region also hosts several aerospace research and development centers, innovation hubs, and aerospace education institutes.
Baja California, this region, particularly the city of Tijuana, has emerged as a key player in the aerospace industry, with the presence of major aerospace OEMs and suppliers. The region is known for its manufacturing capabilities in aerospace structures, composite materials, and precision machining.
Competition Overview: Market Structure and Leading Players
Mexico aerospace market is highly competitive, with key players focusing on product innovation, expanding their distribution channels, and strategic partnerships to gain a competitive edge.
Some of the key market players operating in the Mexico aerospace market, as identified in the market report, include: FEMIA, Safran Mexico, Bombardier Aerostructures and Engineering Services Mexico, Textron Aviation Mexico, Honeywell Aerospace Mexico, Airbus Helicopters Mexico, Zodiac Aerospace Mexico, Grupo Aeroméxico, Queretaro Aerospace Cluster among others.
Key Market Segmentation: Mexico Aerospace Market
Rationalstat has segmented the Mexico aerospace market on the basis of type, size, end-user, operation, and region.
- By Type
- Commercial Aircraft
- Military Aircraft
- Space Systems
- Commercial Aircraft
- By Size
- By End User
- Commercial Airlines
- Military and Others
- By Operation
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Nordic Countries
- Rest of Western Europe
- Eastern Europe
- Czech Republic
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Thailand, Philippines, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
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