The global commercial aircraft aftermarket parts market size reached US$ 42.0 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 69.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.8% during 2023-2032. The bolstering growth of the aviation industry, the rising demand for proper maintenance, upgrade, and repair of commercial aircraft, and the implementation of stringent regulations regarding aircraft maintenance represent some of the key factors driving the market.
Commercial aircraft aftermarket parts are components and systems used in the maintenance, repair, and overhaul of commercial aircraft after they have been delivered from the original equipment manufacturer (OEM). These parts are used to replace worn and damaged parts or upgrade existing systems to improve aircraft performance or meet new regulatory requirements, ensuring that the aircraft remain safe, reliable, and efficient. Some of the standard commercial aircraft aftermarket parts include engines, avionics, landing gear, electrical systems, and interior components. They can be sourced from various suppliers, including third-party manufacturers and distributors. Aftermarket parts are usually more economical than OEM parts and help lower maintenance costs. Apart from this, their vast and easy availability reduces aircraft downtime and improves operational efficiency.
Commercial aircraft aftermarket parts are components and systems used in the maintenance, repair, and overhaul of commercial aircraft after they have been delivered from the original equipment manufacturer (OEM). These parts are used to replace worn and damaged parts or upgrade existing systems to improve aircraft performance or meet new regulatory requirements, ensuring that the aircraft remain safe, reliable, and efficient. Some of the standard commercial aircraft aftermarket parts include engines, avionics, landing gear, electrical systems, and interior components. They can be sourced from various suppliers, including third-party manufacturers and distributors. Aftermarket parts are usually more economical than OEM parts and help lower maintenance costs. Apart from this, their vast and easy availability reduces aircraft downtime and improves operational efficiency.
Commercial Aircraft Aftermarket Parts Market Trends:
One of the primary factors driving the market growth is the increasing air traffic and demand for air travel, which, in turn, is fueling the need for aftermarket parts to support the maintenance, repair, and upgrade of existing aircraft fleets. Besides this, the emerging trends of aircraft leasing and exchange programs, as well as the implementation of stringent regulations for aircraft maintenance, are strengthening the expanding market. Moreover, the increase in retirements and the aging of the global aircraft fleet is further impelling the need for consistent maintenance, repair, and overhaul activities to improve longevity and address safety concerns, thus creating a favorable outlook for the market. Concurrent with this, the rising product demand to support the expanding fleets of low-cost carriers and ensure enhanced safety and efficiency is presenting remunerative growth opportunities for the market. In addition to this, the shifting preference for outsourcing aircraft maintenance services and the extensive focus on cost reduction among airlines is catalyzing the demand for aftermarket parts that offer better value for money than OEM parts. This, in confluence with the surge in the use of e-commerce channels for procuring aftermarket aviation parts, is acting as a significant growth-inducing factor. Furthermore, ongoing technological advancements in the industry are generating an increasing demand for aftermarket parts that support new technologies and capabilities, which, in turn, is propelling the market growth.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global commercial aircraft aftermarket parts market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on component type, parts, and aircraft type.Component Type Insights:
- Engine
- Airframe
- Interior
- Others
Parts Insights:
- Maintenance Repair and Operation Parts (MRO)
- Rotable Replacement Parts
Aircraft Type Insights:
- Narrow-body
- Wide-body
- Regional Jet
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global commercial aircraft aftermarket parts market. Detailed profiles of all major companies have been provided. Some of the companies covered include A J Walter Aviation Limited, AAR Corp., Aventure International Aviation Services LLC, Bombardier Inc, General Electric Company, GKN Aerospace (Melrose Industries), Honeywell International Inc., Moog Inc., Raytheon Technologies Corporation, The Boeing Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global commercial aircraft aftermarket parts market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global commercial aircraft aftermarket parts market?
- What is the impact of each driver, restraint, and opportunity on the global commercial aircraft aftermarket parts market?
- What are the key regional markets?
- Which countries represent the most attractive commercial aircraft aftermarket parts market?
- What is the breakup of the market based on the component type?
- Which is the most attractive component type in the commercial aircraft aftermarket parts market?
- What is the breakup of the market based on the parts?
- Which is the most attractive part in the commercial aircraft aftermarket parts market?
- What is the breakup of the market based on the aircraft type?
- Which is the most attractive aircraft type in the commercial aircraft aftermarket parts market?
- What is the competitive structure of the global commercial aircraft aftermarket parts market?
- Who are the key players/companies in the global commercial aircraft aftermarket parts market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Commercial Aircraft Aftermarket Parts Market
6 Market Breakup by Component Type
7 Market Breakup by Parts
8 Market Breakup by Aircraft Type
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- A J Walter Aviation Limited
- AAR Corp.
- Aventure International Aviation Services LLC
- Bombardier Inc
- General Electric Company
- GKN Aerospace (Melrose Industries)
- Honeywell International Inc.
- Moog Inc.
- Raytheon Technologies Corporation
- The Boeing Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 149 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( US$ | US$ 42 Billion |
| Forecasted Market Value ( US$ | US$ 69.5 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
