Press release
The Commercial Aircraft Aftermarket Parts market is expected to reach USD 74.66 billion by 2034, growing at a CAGR of 5.4%.
commercial aircraft aftermarket parts market
Overview:
Commercial aircraft aftermarket parts are constituents and systems utilized in the preservation, mending, and reconditioning of commercial aircraft subsequent to them being delivered from the original equipment manufacturer (OEM). These constituents are utilized to restore strained and defaced constituents or improve prevailing systems to enhance aircraft presentation or encounter contemporary regulatory needs, sanctioning that the aircraft stays secure, dependable, and productive. Some of the common commercial aircraft aftermarket parts involve engines, avionics, landing gear, electrical systems, and interior components. They can be procured from several suppliers involving third-party makers and distributors.
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Growth Factors and Opportunities:
The rising inclination for maintenance, repair, and overhaul (MRO) services is expected to drive up the demand for commercial aircraft aftermarket parts. Moreover, technological progressions are pushing the efficacy and dependability of aftermarket parts. Advancements in material science, such as alloys and composites, have caused weightlessness and long-lasting attributes propelling the commercial aircraft aftermarket parts market forward.
Key Participants:
The aggressive topography of the market is portrayed by an assortment of global leaders and regional contenders engaged in market share through invention and tactical alliances. Some of the major players participating in the commercial aircraft aftermarket parts market are:
• A J Walter Aviation Limited
• Aventure International Aviation Services
• Bombardier Inc.
• Collins Aerospace (RTX Corporation)
• General Electric Company
• GKN Aerospace (Melrose Industries)
• Honeywell International Inc.
• Moog Inc.
• Parker-Hannifin Corporation
• The Boeing Company
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Country-Wise Insights:
By Regional Outlook (Revenue, USD Billion, 2020-2034)
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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Market Segmentation:
The commercial aircraft aftermarket parts analysis is mainly based on parts, aircraft type, component type, and region. Based on parts, the MRO parts segment witnessed the fastest growth. Also, according to aircraft type, the narrow-body segment holds a significant revenue share. It is being extensively utilized in short and medium stoppage passages.
By Parts Outlook (Revenue, USD Billion, 2020-2034)
• MRO Parts
• Rotable Replacement Parts
By Aircraft Type Outlook (Revenue, USD Billion, 2020-2034)
• Narrow-Body
• Wide-Body
• Regional Jet
By Component Type Outlook (Revenue, USD Billion, 2020-2034)
• Airframe
• Engine
• Interior
• Other
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