Market Size of Aerospace Industry In Mexico
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.58 Billion |
| Market Size (2029) | USD 2.96 Billion |
| CAGR (2024 - 2029) | 2.76 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aerospace In Mexico Market Analysis
The Aerospace Industry In Mexico Market size is estimated at USD 2.58 billion in 2024, and is expected to reach USD 2.96 billion by 2029, growing at a CAGR of 2.76% during the forecast period (2024-2029).
Mexico's strategic positioning, flanked by the United States and with access to the Pacific and Atlantic Oceans, establishes its role as a pivotal player in the global aerospace supply chain. The USMCA agreement bolsters trade fluidity, facilitating smoother cross-border operations and investments. Coupled with its geographical and regulatory advantages, this positions Mexico as an attractive hub for foreign direct investment, fostering regional economic integration within the aerospace industry.
Mexico's aerospace industry is buoyed by the worldwide surge in air traffic and the subsequent demand for new, more fuel-efficient aircraft. Airlines, in response, are ramping up efforts to modernize their fleets to meet stringent environmental standards. Consequently, there's a soaring demand for aerospace components and systems that Mexico, with its robust manufacturing capabilities and cost efficiencies, is well-equipped to meet.
However, Mexico's aerospace industry heavily relies on foreign technologies and expertise, presenting a double-edged sword. While this dependence can hinder local innovation, it also exposes the nation, given its size, to heightened risks from geopolitical tensions and trade restrictions, potentially impeding its technological advancements and collaborative ventures.
Aerospace In Mexico Industry Segmentation
The study covers all aspects of the Mexican aerospace industry and provides insights into it. It also offers company profiles of major aerospace companies operating or offering their products and services in Mexico.
The aerospace industry in Mexico is segmented by industry into manufacturing, engineering and design, and maintenance, repair, and overhaul (MRO). For each segment, the market size is provided in terms of value (USD).
| Industry | |
| Manufacturing | |
| Engineering and Design | |
| Maintenance, Repair, and Overhaul |
Aerospace Industry In Mexico Size Summary
The aerospace industry in Mexico is poised for steady growth, driven by its strategic geographical position and favorable trade agreements like the USMCA. This positioning enhances Mexico's role in the global aerospace supply chain, attracting foreign direct investment and fostering regional economic integration. The industry benefits from the global increase in air traffic, prompting airlines to modernize fleets with more fuel-efficient aircraft. Mexico's robust manufacturing capabilities and cost efficiencies make it well-suited to meet the rising demand for aerospace components and systems. However, the industry's reliance on foreign technologies and expertise presents challenges, potentially hindering local innovation and exposing the sector to geopolitical and trade risks.
The Mexican government actively supports the aerospace sector through incentives and programs aimed at boosting investment and innovation. The establishment of aerospace clusters and the expansion of maintenance, repair, and overhaul (MRO) capabilities are key to the industry's growth. Significant investments in infrastructure and training programs ensure a skilled workforce, enhancing the quality of MRO services. Major global players like Airbus, Boeing, and Bombardier have established operations in Mexico, underscoring its importance in the global supply chain. These investments facilitate technology transfers and introduce best practices, further strengthening the local industry. As the sector expands, Mexico is becoming a preferred destination for airlines and aerospace firms seeking advanced MRO solutions.
Aerospace Industry In Mexico Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Buyers/Consumers
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1.4.2 Bargaining Power of Suppliers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Industry
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2.1.1 Manufacturing
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2.1.2 Engineering and Design
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2.1.3 Maintenance, Repair, and Overhaul
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Aerospace Industry In Mexico Market Size FAQs
How big is the Aerospace Industry In Mexico Market?
The Aerospace Industry In Mexico Market size is expected to reach USD 2.58 billion in 2024 and grow at a CAGR of 2.76% to reach USD 2.96 billion by 2029.
What is the current Aerospace Industry In Mexico Market size?
In 2024, the Aerospace Industry In Mexico Market size is expected to reach USD 2.58 billion.
