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Aerospace parts manufacturing Market

Aerospace Parts Manufacturing Market Size by Type (Aircraft Manufacturing, Engines, Avionics, Cabin Interiors, System and Support, Insulation Components and Equipment), Application (Military Aircraft, Commercial Aircraft, Business Aircraft, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-12667
  • Published Date: Mar, 2022
  • Pages: 237
  • Category: Aerospace & Defence
  • Format: PDF
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Market Introduction

The global aerospace parts manufacturing market is expected to reach USD 1513.37 billion by 2032, at a CAGR of 4.3% from 2023 to 2032. With the rise in the number of commercial passengers and increasing investment in the military, aerospace parts manufacturing is witnessing growth in terms of demand.

The power part of an aircraft propulsion system is the aerospace components. Commercial aircraft, military aircraft and business aircraft all employ different types of aerospace parts. Advanced manufacturing techniques are used from product conception through production. The MRO of an aircraft provides pre-production, on-demand, prototyping, and low-volume procedures used in the development and manufacture of aircraft. However, many of the tools and techniques used in other manufacturing processes are used in aerospace parts manufacturing. The production of aerospace parts calls for far higher administrative costs. Companies must get several certificates and registrations to participate in the sector. These companies must adhere to strict quality control throughout the production process to guarantee that the components satisfy the necessary standards and tolerances.

Aerospace Parts Manufacturing Market Size

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Market Dynamics

Drivers

  • Rise in demand for aircraft maintenance and replacement

Commercial airlines, military aircraft, general aviation, missiles, and space research are the leading market sectors that the aerospace industry serves with parts and goods. The components must have high precision, durability, accuracy, and reliability to ensure they work as intended. They are frequently used in crucial processes when failure is not an option. The aerospace sector is noted for having strict standards for the final product's quality and safety as well as for the manufacturing procedures. Research and development into improved materials and modification techniques are required because of the intense environmental conditions some components are subjected to, including corrosive and climate adverse impacts, high-temperature variations, and tight manufacturing and assembly tolerances. Procedures for surface modification and coatings have been in use for the past 50 years.

Restraints

  • The fluctuating cost of components price

The fluctuation in the cost of aerospace components determines the demand and supply. With the rise in the cost of components, the demand is hampered. The macro and micro-economic factors determine the fluctuation in the prices of aerospace components. Thus, it restricts the potential growth of manufacturers.

Opportunities

  • Increasing use of predictive maintenance

As airline business models evolve, more efficient and cost-effective operations are required. General aviation operators are looking to adopt some of the commercial aviation safety technologies that have shown to be successful. Big data has been generating headlines in a variety of industries, with the promise of revolutionizing the way corporations make choices. The aviation industry is the industry that will profit from the usage of big data and associated analytics. According to recent studies, well-implemented maintenance expenditures can be reduced by 30 to 40%. As a result, airliners are beginning to build predictive analytics of flight-recorded data, which is promising growth opportunities to parts manufacturing.

  • Stringent regulatory environment

To be able to fly, an aircraft or its engine must adhere to minimum international requirements. These guidelines, which address both safety and the environment, were produced by the International Civil Aviation Organization. The principal environmental regulations include engine emissions and aeroplane noise. It serves the financial interests of aircraft manufacturers to guarantee that their products comply with these requirements. The aircraft's part manufacturing is relatively controlled due to the rigorous requirements in the aircraft industry.

Segment Analysis

The global aerospace parts manufacturing market has been segmented based on the type, applications, and regions.

  • The type segment is divided into aircraft manufacturing, engines, avionics, cabin interiors, system and support, insulation components and equipment. The insulation components and equipment segment dominated the market with a share of around 22.82% in 2022. Insulation equipment and components are necessary for each type of aircraft. These components and equipment safeguard the aircraft from excessive heat emitted out of the engine.
  • The application segment is divided into military, commercial, and business aircraft. The commercial aircraft business aircraft segment dominated the market with around 56.78% in 2022. Commercial aviation includes certain general flights and all commercial air transport and aerial work operations. A commercial aircraft business uses an aeroplane to transport people, goods, or mail for pay or rent. Gas turbine engines, either turbofan or turboprop, power all commercial aircraft created in the past.

Regional Segmentation Analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most prominent global aerospace parts manufacturing market, with a 36.03% market revenue share in 2022.

  • The region's commercial and military aircraft industry has a high demand for parts manufacturing due to the need for replacement and innovation. The major players in the market have their manufacturing and R&D bases in the region, which leads to the market's high growth rate. Further, the rise in international and domestic travel in the U.S. has increased demand for commercial aircraft.
  • Asia-Pacific is expected to register a high growth rate during the forecast period. The commercial aircraft industry has increased due to the rising preference for air travel in regional countries. Further, the respective governments are investing vast amounts of money in MRO of military aircraft to strengthen their air force base.

North America region Aerospace parts manufacturing market Share in 2022 - 36.03%

 

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Some of the Key Market Players

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global aerospace parts manufacturing market.

Kordsa Teknik Tekstil A.S. announced its acquisition of Axiom Materials, an aircraft component producer, in July 2019, which boosts the company's operations in the sophisticated composite materials market and expands its range of products.

List of Key Market Players

  • JAMCO Corp.
  • Intrex Aerospace
  • Rolls Royce plc
  • CAMAR Aircraft Parts Company
  • Safran Group
  • Woodward Hexcel
  • Engineered Propulsion System
  • Eaton Corporation plc
  • GE Aviation
  • Aequs
  • Textron, Inc.
  • Superior Aviation Beijing
  • MTU Aero Engines AG
  • Honeywell International, Inc
  • Raytheon Technologies Corp.

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description

  • Global Aerospace Parts Manufacturing market, Industry Analysis, Trends, Analysis and Forecast, 2023 to 2032 is a forthcoming/imminent research report to be published by The Brainy Insights.
  • 2022 is considered the base year of the report. 2019, 2020 and 2021 are historical years, and 2023 to 2032 are the forecast years. The global aerospace parts manufacturing market is based on revenue (USD Billion). The report incorporates the market study based on income. The study covers the market share revenue/market share/volume for each segment, region, and country catering to the global aerospace parts manufacturing market. The areas analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information which the leading industry professionals and experts across the globe have validated. The research report also outlines the attractiveness of digital education based on type, application, and region, which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects fathom market growth and development in the future.
  • The report illustrates the detailed (quantitative and qualitative) analysis of historical data, revenues, key developments, and the crucial strategies adopted by critical organizations catering to the global aerospace parts manufacturing market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study of the company profiles of key organizations operating in the global aerospace parts manufacturing market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and critical financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter's five forces analysis coupled with a SWOT analysis to offer business-related data and pieces of information. Porter's five forces model is analyzed to understand the prevailing competitive scenario in the market. Additionally, the SWOT analysis identifies the positive and negative attributes of the market development, which influences the company's growth and development to sustain and survive in the long run.
  • The report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as critical potential for the investors.
  • The product's potential growth prospects and the penetration rate analysis (market-related, i.e., global aerospace parts manufacturing market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the aerospace parts manufacturing market was valued at USD 993.35 Billion in 2022 to USD 1513.37 Billion by 2032.

Global Aerospace parts manufacturing market is growing at a CAGR of 4.3% during the forecast period 2023-2032.

The global aerospace parts manufacturing market has been segmented based on type, application, and regions. The insulation components and equipment segment led the market in 2022.

North America region emerged as the largest market for the aerospace parts manufacturing.

The market's growth will be influenced by an increase in rate of aircraft fleet replacement, rising demand for fuel-efficient and lighter aircraft and a rise in the demand for aeronautical pieces of equipment.

Problems caused by price volatility in materials and equipment could hamper the market growth.

The prolonged length of service will provide huge opportunities to the market.

Key players are JAMCO Corp., Rolls Royce plc, Intrex Aerospace, Safran Group, CAMAR Aircraft Parts Company, Woodward Hexcel, Eaton Corporation plc, Engineered Propulsion System, GE Aviation, Aequs, Textron, Inc., MTU Aero Engines AG

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  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increase in rate of aircraft fleet replacement
          5.2.2. Rising demand for fuel-efficient and lighter aircraft
          5.2.3. A rise in the demand for aeronautical pieces of equipment
    5.3. Restraints
          5.3.1. Problems caused by price volatility in materials and equipment
    5.4. Opportunities
          5.4.1. The prolonged length of service

6. Aerospace parts manufacturing market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Aircraft Manufacturing
    6.3. Engines
    6.4. Avionics
    6.5. Cabin Interiors
    6.6. System and Support
    6.7. Insulation Components and Equipment

7. Aerospace parts manufacturing market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Military Aircraft
    7.3. Commercial Aircraft Business Aircraft
    7.4. Others

8. Aerospace parts manufacturing market Analysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Aerospace parts manufacturing market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in the Aerospace parts manufacturing market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. JAMCO Corp.
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Component Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Rolls Royce plc
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Component Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Intrex Aerospace
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Component Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Safran Group
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Component Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. CAMAR Aircraft Parts Company
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Component Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Woodward Hexcel
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Component Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Eaton Corporation plc
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Component Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Engineered Propulsion System
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Component Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. GE Aviation
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Component Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. Aequs
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Component Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Textron, Inc.
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Component Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis
    10.12. MTU Aero Engines AG
          10.12.1. Business Overview
          10.12.2. Company Snapshot
          10.12.3. Company Market Share Analysis
          10.12.4. Company Component Portfolio
          10.12.5. Recent Developments
          10.12.6. SWOT Analysis
    10.13. Superior Aviation Beijing
          10.13.1. Business Overview
          10.13.2. Company Snapshot
          10.13.3. Company Market Share Analysis
          10.13.4. Company Component Portfolio
          10.13.5. Recent Developments
          10.13.6. SWOT Analysis
    10.14. Raytheon Technologies Corp.
          10.14.1. Business Overview
          10.14.2. Company Snapshot
          10.14.3. Company Market Share Analysis
          10.14.4. Company Component Portfolio
          10.14.5. Recent Developments
          10.14.6. SWOT Analysis
    10.15. Honeywell International, Inc
          10.15.1. Business Overview
          10.15.2. Company Snapshot
          10.15.3. Company Market Share Analysis
          10.15.4. Company Component Portfolio
          10.15.5. Recent Developments
          10.15.6. SWOT Analysis

List of Table

1. Aerospace parts manufacturing market, By Type, 2019-2032 (USD Billion) 

2. Global Aircraft Manufacturing Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion) 

3. Global Engines, , System and Support, Insulation Components and Equipment Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion) 

4. Global Avionics Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion) 

5. Global Cabin Interiors Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion)

6. Global System and Support Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion)

7. Global Insulation Components and Equipment Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion)

8. Aerospace parts manufacturing market, By Application, 2019-2032 (USD Billion) 

9. Global Military Aircraft Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion) 

10. Global Commercial Aircraft Business Aircraft Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion) 

11. Global Others Aerospace Parts Manufacturing Market, By Region, 2019-2032 (USD Billion)

12. Aerospace parts manufacturing market, By Region, 2019-2032 (USD Billion) 

13. North America Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

14. North America Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

15. U.S. Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

16. U.S. Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

17. Canada Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

18. Canada Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

19. Mexico Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

20. Mexico Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

21. Europe Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

22. Europe Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

23. Germany Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

24. Germany Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

25. France Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

26. France Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

27. U.K. Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

28. U.K. Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

29. Italy Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

30. Italy Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

31. Spain Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

32. Spain Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

33. Asia Pacific Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

34. Asia Pacific Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

35. Japan Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

36. Japan Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

37. China Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

38. China Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

39. India Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

40. India Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

41. South America Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

42. South America Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

43. Brazil Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

44. Brazil Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

45. Middle East and Africa Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

46. Middle East and Africa Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

47. UAE Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

48. UAE Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

49. South Africa Aerospace Parts Manufacturing Market, By Type, 2019-2032 (USD Billion) 

50. South Africa Aerospace Parts Manufacturing Market, By Application, 2019-2032 (USD Billion) 

List of Figures 

1. Aerospace parts manufacturing market Segmentation

2. Aerospace Parts Manufacturing Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Aerospace parts manufacturing market Attractiveness Analysis By Type

9. Aerospace parts manufacturing market Attractiveness Analysis By Application

10. Aerospace parts manufacturing market Attractiveness Analysis By Region

11. Aerospace parts manufacturing market: Dynamics

12. Aerospace parts manufacturing market Share By Type (2023 & 2032)

13. Aerospace parts manufacturing market Share By Application (2023 & 2032)

14. Aerospace parts manufacturing market Share by Regions (2023 & 2032)

15. Aerospace parts manufacturing market Share by Company (2022)

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global aerospace parts manufacturing market based on below mentioned segments:

Global Aerospace parts manufacturing market by Type:

  • Aircraft Manufacturing
  • Engines
  • Avionics
  • Cabin Interiors
  • System and Support
  • Insulation Components and Equipment

Global Aerospace parts manufacturing market by Application:

  • Military Aircraft
  • Commercial Aircraft Business Aircraft
  • Others

Global Aerospace parts manufacturing market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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