Commercial Aircraft Aftermarket Parts Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Global Commercial Aircraft Aftermarket Parts Market was valued at USD 42.11 Billion in 2024 and is expected to reach USD 58.56 Billion by 2030 with a CAGR of 5.65% during the forecast period. The commercial aircraft aftermarket parts market is experiencing robust growth driven by several factors, including the rising demand for air travel and an expanding global fleet of aircraft. As more airlines and aviation companies look to meet the increasing passenger demand, maintaining and servicing aircraft becomes crucial. This growth in demand for air travel contributes to the need for regular maintenance and replacement of critical parts, such as engines, landing gears, and avionics, further fueling market expansion. As aircraft fleets age, there is also a growing need for replacement parts, ensuring safety and operational efficiency.

The trend towards more advanced technologies in aircraft components is transforming the aftermarket parts market. With increasing technological advancements, parts are becoming more durable, efficient, and environmentally friendly. The development of lightweight materials and improved fuel efficiency technologies has led to an increased demand for specialized aftermarket parts, ensuring longer service lives for critical components. Moreover, the industry is witnessing a rise in the use of digital technologies for parts management, helping streamline inventory management and improve part sourcing. Airlines are looking for cost-effective and time-efficient ways to maintain aircraft, which has led to the growing adoption of predictive maintenance technologies.

Market Drivers

Rising Demand for Air Travel

The global aviation industry continues to witness a steady increase in air travel, especially in emerging markets. This surge in passenger demand directly contributes to the need for more flights and operational aircraft, thereby creating higher demand for aftermarket parts. As airlines look to meet this growing passenger base, the need for high-quality and reliable parts for both maintenance and replacement becomes increasingly important. The frequency of maintenance checks, which is linked to the usage of aircraft, increases as airlines try to ensure safe, uninterrupted service to their passengers.

Additionally, airlines must maintain or upgrade their existing fleets to cater to changing consumer expectations, requiring them to regularly purchase parts from the aftermarket sector. The rising air traffic leads to a greater need for serviceable parts and timely repairs to keep aircraft operational and to avoid costly delays. For instance, global passenger traffic for 2023 reached 8.7 billion, closely aligning with ACI World’s February 2024 forecast at 99.99% accuracy.

This milestone contrasts with pre-pandemic projections, which anticipated 10.5 billion passengers by 2024. Current estimates for 2024 suggest a total of 9.5 billion passengers, marking a 10% year-on-year (YoY) growth from 2023 and reaching 104% of the 2019 level. By mid-2024, year-to-date traffic is expected to show an 11% YoY increase, with international markets leading the recovery, showing a 17% YoY rise compared to 6% YoY growth in domestic travel. International passenger traffic is projected to hit 4.1 billion by the end of 2024, accounting for 43% of the total, while domestic traffic will reach 5.4 billion, or 57%.

Key Market Challenges

Supply Chain Disruptions

The aftermarket parts market faces significant challenges with supply chain disruptions, as it relies on complex, global networks to deliver parts. These disruptions can arise from various factors, including geopolitical instability, trade wars, and natural disasters. Such disruptions delay the manufacturing and delivery of crucial parts needed for aircraft maintenance and repairs. This, in turn, results in longer downtime for airlines, higher maintenance costs, and operational inefficiencies. Manufacturers must build more resilient and adaptable supply chains to ensure timely deliveries and minimize the impact of disruptions. Additionally, the increasing complexity of aircraft and their components means that suppliers must source high-quality, specialized parts, which are sometimes more difficult to obtain, further exacerbating supply chain issues.

Key Market Trends

Adoption of Predictive Maintenance Technology

The adoption of predictive maintenance technology has transformed the way airlines maintain their fleets. Using advanced analytics, sensors, and AI-driven algorithms, airlines can predict when a part will fail and proactively replace it before it causes any disruptions. This trend is changing the aftermarket parts industry by reducing the need for reactive maintenance and enhancing operational efficiency. Predictive maintenance helps extend the life of components, reducing the frequency of part replacements and lowering overall maintenance costs. It also allows for more accurate forecasting of parts demand, leading to better inventory management and supply chain efficiency. This growing reliance on predictive maintenance is expected to create opportunities for parts suppliers to offer specialized solutions that align with these evolving maintenance strategies.

Key Market Players

• Aventure International Aviation Services
• Honeywell International Inc.
• RTX Corporation
• Parker-Hannifin Corporation
• General Electric Company
• Moog Inc.
• GKN Aerospace
• A J Walter Aviation Limited
• Bombardier Inc.
• The Boeing Company

Report Scope:

In this report, the Global Commercial Aircraft Aftermarket Parts market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Commercial Aircraft Aftermarket Parts Market, By Aircraft Type:

• Narrow-Body
• Wide-Body
• Regional Jet

Commercial Aircraft Aftermarket Parts Market, By Component Type:

• Airframe
• Engine
• Interior
• Other Component

Commercial Aircraft Aftermarket Parts Market, By Parts:

• MRO Parts
• Rotable Replacement Parts

Commercial Aircraft Aftermarket Parts Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe & CIS
• France
• Germany
• Spain
• Italy
• United Kingdom
• Asia-Pacific
• China
• Japan
• India
• Vietnam
• South Korea
• Thailand
• Australia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• South America
• Brazil
• Argentina

Competitive Landscape

Company Profiles: Detailed analysis of the major Global Commercial Aircraft Aftermarket Parts Market companies.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.