Aircraft Parts Market Set for Strong Growth to USD 1,091.20 Billion by 2033, Led by North America's 35.6% Market Share | DataM Intelligence

The Global Aircraft Parts Market reached USD 674.15 billion in 2023, with a rise to USD 702.19 billion in 2024, and is expected to reach USD 1,091.20 billion by 2033, growing at a CAGR of 5.02% during the forecast period 2025-2033.

Market growth is driven by surging global air travel demand, fleet modernization initiatives by major airlines, and the expansion of low-cost carriers in emerging markets. Advancements in lightweight materials like composites and additive manufacturing, rising defense spending on next-gen aircraft, increasing aftermarket services for MRO (maintenance, repair, and overhaul), and supply chain optimizations post-pandemic are further accelerating market expansion.

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United States: Key Industry Developments
✅ December 2025: Boeing announced advancements in lightweight composite materials for aircraft wings, enhancing fuel efficiency and reducing emissions for next-generation 737 MAX variants.

✅ October 2025: GE Aerospace launched a new line of high-thrust engine components certified for F-35 fighter jets, focusing on durability and rapid deployment amid rising defense demands.

✅ September 2025: Honeywell upgraded avionics systems with AI-integrated predictive maintenance parts, improving reliability for commercial fleets like the Airbus A320neo.

Asia Pacific / Japan: Key Industry Developments
✅ November 2025: Mitsubishi Heavy Industries introduced precision-machined landing gear components using advanced alloys, tailored for regional jets in Japan's expanding domestic market.

✅ September 2025: Kawasaki Heavy Industries expanded production of sustainable aftermarket parts for Boeing 787 dreamliners, emphasizing recycled materials to align with Asia-Pacific green aviation goals.

✅ August 2025: Japanese government boosted subsidies for local OEMs developing hybrid-electric propulsion parts, spurring innovation in short-haul aircraft for high-growth routes in India and China.

Key Mergers and Acquisitions:
✅ Boeing strengthened its supply chain resilience by reacquiring Spirit AeroSystems, enhancing production of critical fuselage sections for commercial and defense aircraft.

✅ BAE Systems expanded its space and precision components portfolio through the acquisition of Ball Aerospace, bolstering capabilities in satellite systems and optical technologies.

✅ Apollo Global Management consolidated aerospace manufacturing with the buyout of Barnes Group, integrating actuator and engineered components production for next-generation aircraft.

Market Segmentation Analysis:
-By Component: Airframe Components Lead with Structural Demand
Airframe components dominate at 35% market share in 2025, including fuselage sections for body integrity, wings & winglets for lift efficiency, tail & empennage for stability, and landing gear for ground operations-essential for all aircraft builds.
Propulsion system components follow at 25%, covering turbofan/turboprop/turbojet engines (80% of this segment) and accessories for thrust generation.
Avionics (15%), mechanical (15%), interior (7%), and other components (3%) support navigation, controls, hydraulics, cabins, and auxiliaries.

-By Application: Commercial Aircraft Holds Majority Share
Commercial aircraft claim 60% share, driven by rising air travel and fleet expansions from airlines like Boeing and Airbus.
Military aircraft take 25%, fueled by defense budgets for fighter jets and transports.
Business aircraft (10%) and others (5%) cater to private jets and regional/specialty uses.

-By Distribution Channel: OEMs Command Supply Chain
OEMs lead at 70% share, supplying original parts directly to manufacturers for new builds.
Aftermarket captures 30%, providing replacements and upgrades for maintenance amid aging fleets.

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Why is the Aircraft Parts Market Growing?
The robust growth of the Aircraft Parts Market in 2026 is propelled by several key drivers:

-Booming Air Travel Demand: Surging passenger traffic and cargo volumes, especially post-pandemic recovery, are fueling fleet expansions by major airlines worldwide.

-Aging Fleet Modernization: Airlines are replacing older aircraft with fuel-efficient models, driving demand for advanced engines, avionics, and airframes.

-Technological Advancements: Innovations in lightweight composites, additive manufacturing (3D printing), and electric propulsion systems are enhancing performance and reducing maintenance costs.

-Rising Defense Budgets: Geopolitical tensions and military modernization programs are boosting procurement of fighter jets, drones, and UAV components.

-Sustainability Push: Strict emission regulations and airline commitments to net-zero goals are accelerating adoption of eco-friendly parts like hybrid-electric systems.

Regional Insights:
-North America leads the Aircraft Parts Market with the highest regional share at approximately 35.6% as of 2025, driven by its large fleet of aging commercial and military aircraft requiring extensive replacement parts, alongside major OEMs like Boeing and Honeywell bolstering a robust supply chain.​

-Europe follows as the second-largest market, benefiting from established aerospace hubs in countries like the UK, France, and Germany, where firms such as Airbus and Rolls-Royce fuel demand through fleet modernization and aftermarket services, though exact share figures hover around 25-30% based on industry trends.​

-Asia Pacific ranks third with a growing share estimated at 20-25%, propelled by rapid aviation expansion in China and India, rising passenger traffic, and investments in local manufacturing, positioning it as the fastest-growing region at a CAGR of about 7.2% through 2031.

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Key Players:
Boeing | General Electric Company | Rolls-Royce plc | Airbus | Safran S.A. | Pratt & Whitney | Leonardo S.p.A. | AAR Corp. | MTU Aero Engines AG | Spirit AeroSystems, Inc.

Key Highlights (Top 5 Key Players) for Aircraft Parts Market:
-Boeing designs, manufactures, and supplies a wide range of aircraft structural components, fuselage sections, wings, and landing gear systems for commercial and military jets.

-General Electric Company develops advanced jet engines, turbine components, avionics systems, and power generation parts integrated into commercial and defense aircraft platforms.

-Rolls-Royce plc produces high-performance aero engines, propulsion systems, nacelles, and exhaust components for wide-body airliners and military transport aircraft.

-Airbus fabricates airframe structures, composite wings, tail assemblies, and cabin interiors as original equipment manufacturer for its A320, A350, and A380 family of aircraft.

-Safran S.A. specializes in aircraft engines, landing gear systems, nacelle components, and electrical wiring interconnection systems for both commercial and regional jets.

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