Aircraft Parts Market to hit US$ 1,091.20 billion by 2033, North America led 37.9% of global market share.

The global aircraft parts market reached US$ 674.15 billion in 2023, with a rise to US$ 702.19 billion in 2024, and is expected to reach US$ 1,091.20 billion by 2033, growing at a CAGR of 5.02% during the forecast period 2025-2033.

The global aircraft parts market is growing steadily, fueled by rising demand for lightweight materials, advanced avionics, and next-generation propulsion systems. Suppliers are focusing on innovation in composite materials, additive manufacturing, and digitalized supply chains, enabling shorter production cycles and greater operational efficiency. Increased collaborations between OEMs, Tier-1 suppliers, and MRO providers, along with rising investments in sustainable aviation technologies, are reshaping competition and driving market expansion.

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Aircraft Parts Market: Industry Outlook
→ The U.S. leads the aircraft parts market, supported by major aerospace giants such as Boeing, Raytheon Technologies (Collins Aerospace, Pratt & Whitney), and GE Aerospace. U.S. firms hold the largest market share, driven by strong demand in defense, commercial aviation, and space exploration. Growth is further supported by advanced R&D in propulsion systems, high-performance composites, and digital twin technologies. Government-backed initiatives such as the FAA's Continuous Lower Energy, Emissions, and Noise (CLEEN) program and increasing investments in next-generation military aircraft sustain U.S. leadership in the global market.

→ Japan's aircraft parts market is expanding on the back of its strengths in precision engineering, materials innovation, and partnerships with global aerospace leaders. Companies such as Mitsubishi Heavy Industries and Kawasaki Heavy Industries play a vital role as Tier-1 suppliers to Boeing and Airbus, focusing on wings, fuselage sections, and engine components. Supported by government initiatives like the Japan Aerospace Exploration Agency (JAXA) programs and emphasis on advanced composites and automation, Japan is positioning itself as a critical hub for high-value aircraft components.

Key Market Trends & Insights
→ North America accounted for approximately 37.9% of the global aircraft parts market in 2024 and is expected to maintain its dominance throughout the forecast period. This leadership is driven by strong demand from commercial airlines, defense programs, and space exploration initiatives. The region benefits from established aerospace OEMs, advanced manufacturing infrastructure, and continuous R&D investments in lightweight materials, avionics, and propulsion systems. Close collaboration between manufacturers, Tier-1 suppliers, and MRO providers further strengthens North America's position in the global aircraft parts ecosystem.

→ Asia-Pacific is projected to be the fastest-growing region in the global aircraft parts market, supported by rapid industrialization, expanding commercial aviation, and rising investments in regional aerospace manufacturing hubs. Countries such as China, Japan, and South Korea are actively enhancing their capabilities in high-value components like engines, wings, and fuselage sections. Government initiatives promoting aerospace innovation, adoption of automation, and partnerships with global OEMs are fueling regional growth. Increasing air travel demand, defense modernization, and emerging MRO services contribute to Asia-Pacific's accelerated market expansion.

→ The Commercial Aircraft segment remains the dominant application category in the global aircraft parts market due to its critical role in passenger transport, cargo operations, and airline fleet expansion. Its widespread adoption across airlines worldwide highlights its importance in driving demand for high-precision airframe components, propulsion systems, avionics, and interior solutions, while enabling technological advancements in fuel efficiency, safety, and passenger comfort.

Report Objectives
→ The global aircraft parts market report delivers a detailed analysis with 55 key tables, more than 62 visually impactful figures, and 195 pages of expert insights, providing a complete view of the market landscape.

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Market Segmenatation-

1) Segmentation - By Component / Part
Engines (powerplants) - USD 60 billion (2024-2025). Engine OEM & MRO is a large discrete market within parts.
Aerostructures / Airframe (wings, fuselage, empennage, etc.) - USD 75 billion
Avionics & onboard electronics - USD 75 billion
Cabin interiors (seats, galleys, lavatories, panels) - USD 30 billion
Landing gear & flight controls - USD 17 billion

2) Segmentation - By Aircraft Type / Application
Commercial aircraft (airlines / transport) - USD 525 billion (51% )
Military / Defence aircraft - USD 250 billion
Business / General aviation (including bizjets, turboprops, small GA) - USD 175 billion
Helicopters, rotorcraft & special platforms - USD 70 billion

Regional insights:-

→ The North America aircraft parts market was valued at 37.9% market share:-
The North America aircraft parts market accounted for 37.9% share in 2024. North America remains a leading region in the global aircraft parts market, anchored by established aerospace companies such as Boeing, GE Aviation, Honeywell, and Pratt & Whitney. U.S. suppliers dominate in engines, avionics, landing gear, and other critical components across commercial, defense, and space aviation segments. The market is strengthened by advanced manufacturing technologies, robust MRO infrastructure, and growing investments in next-generation aircraft and UAV programs.

→ The Asia-Pacific aircraft parts market was valued at 31.16% market share:-
The Asia-Pacific aircraft parts market held a 31.16% share in 2024. The region is fastest growing hub for the global aircraft parts industry, driven by rising demand for commercial airliners, defense aircraft, and expanded MRO (Maintenance, Repair, and Overhaul) services. China is rapidly enhancing its domestic aerospace manufacturing ecosystem through players like COMAC and AVIC, focusing on narrow-body aircraft, engines, and avionics systems. Japan continues to contribute high-precision components such as fuselage sections, wings, and engines, while South Korea and India are scaling up their aerospace capabilities and local supply chains.

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Competitive Landscape
→ The major players in the aircraft parts market include Boeing, General Electric Company, Rolls-Royce plc, Airbus, Safran S.A., Pratt & Whitney, Leonardo S.p.A., AAR Corp. (, MTU Aero Engines AG, Spirit Aero Systems, Inc.

Boeing: Boeing is a leading player in the global aircraft parts market, specializing in high-precision components, airframes, engines, and avionics systems that support commercial, defense, and space aviation. Its advanced manufacturing capabilities integrate aero structures, propulsion systems, and digital technologies, delivering high performance, reliability, and efficiency across aircraft platforms. With extensive R&D investments and strategic partnerships with Tier-1 suppliers and MRO providers, Boeing continues to drive innovation in next-generation aircraft design, sustainable aviation technologies, and smart manufacturing, reinforcing its position as a key enabler of the global aerospace ecosystem.

Key Developments

→ December 2025: Aequs a major aerospace‐parts supplier for global players like Airbus, Boeing, Spirit AeroSystems and Safran completed a US$102.4 million IPO, fully subscribed within hours. Aequs announced plans to expand into higher‐value aircraft component production, aiming for vertical integration at its Indian facilities to handle all manufacturing stages, boosting supply‐chain resilience amid shifting global sourcing trends.

→ February 2025: Global aerospace firms including Airbus, Collins Aerospace, Pratt & Whitney and Rolls‐Royce publicly began expanding parts sourcing from India, with Bengaluru‐based suppliers such as Hical Technologies and JJG Aero seeing strong growth. This marks a notable shift in the global aircraft parts supply chain, reflecting efforts to diversify away from traditional Western supply bases due to supply‐chain pressures.

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