Press release
Aircraft Parts Market is expected to Hit US$ 1,091.20 Billion by 2033 | Major Companies - Boeing, General Electric Company, Airbus, Safran S.A.
Aircraft Parts Market 2026
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The Global Aircraft Parts Market size 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 2026-2033.
The Aircraft Parts Market refers to the global industry involved in the manufacturing, distribution, maintenance, repair, and replacement of components used in commercial, military, and general aviation aircraft. It includes engines, avionics, landing gear, airframes, cabin interiors, electrical systems, and propulsion components. Market growth is driven by rising air passenger traffic, expanding aircraft fleets, defense modernization programs, increasing maintenance requirements, and technological advancements focused on fuel efficiency, safety, and lightweight materials.
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Recent Industry Developments: United States
✅ April 2026: Aerospace components manufacturer Arxis raised around US$1.13 billion through its U.S. IPO to expand production capacity for aircraft seals, gaskets, and engineered components, reflecting strong investment inflows into the aircraft parts supply chain amid rising aviation and defense demand.
✅ March 2026: GE Aerospace announced an additional US$1 billion investment in U.S. manufacturing and supplier networks to increase aircraft engine output and strengthen parts availability for commercial and defense aviation programs.
✅ January 2026: Aerospace parts supplier AAR Corp. expanded its aftermarket and maintenance capabilities through acquisitions, including aircraft maintenance and component businesses, enhancing parts distribution and long-term support contracts.
Recent Industry Developments: Japan
✅ April 2026: Japan's aerospace industry reported expanded development of composite-material rotor systems and advanced aircraft components, reinforcing domestic manufacturing capabilities for high-performance aerospace parts production.
✅ March 2026: Japan completed the maiden flight testing of the EC-2 electronic warfare aircraft, accelerating demand for locally manufactured avionics, sensors, and specialized aircraft components within the national aerospace supply chain.
✅ February 2026: Major players in Japan's aircraft parts sector intensified regional expansion strategies and partnerships, focusing on localized manufacturing, distribution optimization, and portfolio diversification to strengthen aircraft component supply networks.
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List of the Key Players in the Aircraft Parts Market:
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.
How Does Market Research Work in the Aircraft Parts Market?
Market research for the Aircraft Parts Market involves systematic data collection and analysis to understand industry trends, customer behavior, and competitive dynamics. It includes primary research such as surveys and interviews, and secondary research from reports, databases, and publications. Analysts evaluate market size, growth drivers, challenges, and opportunities using qualitative and quantitative methods. Insights are validated through expert opinions and forecasting models, enabling businesses to make strategic decisions, identify target segments, and gain a competitive advantage in a rapidly evolving market.
Latest Mergers and Acquisitions of Aircraft Parts Market:
✅ April 2026: TransDigm completed acquisition of Jet Parts Engineering (JPE) and Victor Sierra Aviation Holdings
➠ TransDigm finalized its acquisition of aftermarket aircraft parts companies Jet Parts Engineering and Victor Sierra Aviation, a deal valued at approximately US$2.2 billion. The acquisition strengthens TransDigm's position in proprietary replacement parts and PMA (Parts Manufacturer Approval) solutions for commercial aviation aftermarket services.
✅ February 2026: Leonardo advanced aerostructures unit joint venture
➠ Italian aerospace group Leonardo announced plans to finalize a joint venture for its aerostructures business, which manufactures aircraft components for Boeing and Airbus. The deal is expected to expand manufacturing capabilities and reposition the business among leading global aircraft structure suppliers.
✅ January 2026: Cemtrex acquired Invocon
➠ Cemtrex completed the acquisition of Invocon, a U.S.-based aerospace and defense engineering company specializing in sensing, telemetry systems, and mission-critical aerospace components. The transaction marked the launch of Cemtrex's dedicated Aerospace & Defence segment and broadened its aircraft systems capabilities.
Segments Covered in the Aircraft Parts Market 2026:
By Component: Airframe Components (Fuselage Sections, Wings & Winglets, Tail & Empennage, Landing Gear), Propulsion System Components (Engines (Turbofan, Turboprop, Turbojet), Engine Accessories & Modules)), Avionics (Navigation Systems, Communication Systems, Flight Control Systems, Instrumentation & Displays), Mechanical Components (Actuators & Hydraulic Systems, Pumps & Valves, Bearings & Fasteners), Interior Components (Seating Systems, Cabin Interiors, Galley & Lavatory Systems), Other Components (Electrical Systems & Wiring, Fuel Systems, Auxiliary Power Units (APUs).
By Application: Commercial Aircraft, Military Aircraft, Business Aircraft, Others.
By Distribution Channel: OEMs, Aftermarket.
Regional Analysis of the Aircraft Parts Market:
⇥ North America: Leads the market due to advanced infrastructure, strong R&D investments, and early adoption of new technologies.
⇥ Europe: Shows steady growth supported by strict regulations and increasing focus on sustainability initiatives.
⇥ Asia-Pacific: Fastest-growing region driven by rapid industrialization, urbanization, and rising consumer demand in emerging economies.
⇥ Latin America: Experiences moderate growth with expansion in industrial and commercial sectors.
⇥ Middle East & Africa: Gradual market growth supported by increasing investments and improving economic conditions.
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Key Benefits of the Report:
⏩ Comprehensive Market Insights: Gain a deep understanding of market size, trends, and structure.
⏩ Accurate Forecasting: Access reliable future projections to support long-term planning.
⏩ Competitive Analysis: Identify key players, strategies, and positioning in the market.
⏩ Data-Driven Decisions: Make informed business choices backed by verified data.
⏩ Opportunity Identification: Discover emerging trends and untapped growth areas.
⏩ Risk Mitigation: Reduce uncertainties with thorough market evaluation.
⏩ Customer Insights: Understand consumer behavior, preferences, and buying patterns.
⏩ Strategic Planning Support: Align business strategies with market realities.
⏩ Time & Cost Efficiency: Save resources by leveraging ready-to-use research.
⏩ Customization & Expert Validation: Benefit from tailored insights and industry expert analysis.
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People Also Ask:
◆ How big is the Aircraft Parts Market in 2025?
◆ What is the projected growth rate of the Aircraft Parts Market through 2033?
◆ Who are the key players in the Aircraft Parts Market?
◆ Which region is expected to dominate the industry during the forecast period?
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