Commercial Aircraft Aftermarket Parts Market 2018 Global Key Players: General electric, Honeywell International , Rockwell Collins and AJW aviation, Analysis and Forecast to 2021

Market Highlights:

The aircraft aftermarket parts are mainly used in the maintenance and upgrade activity on an airplane after it is manufactured (out of the factory). Since aircrafts remain in service for many years, and also due to the strict regulations, they have to be maintained and repaired at several intervals and it requires a reliable supply chain of aftermarket parts to prevent Aircraft on Ground (AOG) situations. Aftermarket parts are mainly utilized for MRO activities and also as Rotable Scrap Replacement. Aftermarket parts are manufactured by the Original Equipment Manufacturers (OEMs) as well as the Parts Manufacturer Approval (PMA) vendors.

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The Leading Market Players in the global commercial aircraft aftermarket parts market primarily include AAR, Eaton, General electric, Honeywell International , Rockwell Collins, AJW aviation, avail, BE aerospace, BF Goodrich, Meggitt, Parker-Hannifin, and Pratt& Whitney.

Industry/ Innovation/ Related News:
July 2017:- flydubai received component MRO services for its Boeing 737 MAX aircraft fleet from AAR Corp. after expanding its aftermarket support with the company.
June 2017:- Qantas Airways in association with Jetstar entered into a long term component pooling services agreement with AFI KLM E&M, to support their fleet of Boeing 787s. The contract applies to a total fleet of eight 787-9s to be operated by Qantas, and eleven 787-8s in service with Jetstar.

The market is highly competitive, and vendors compete on the basis of the cost of aftermarket parts, quality and reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to optimize their product development processes to provide cost-effective and high-quality products and solutions.

The vendors also face the increasing pressure to cut prices for aftermarket parts or lose the business. Furthermore, increasing entry of the OEMs into the aircraft aftermarket parts business has further increased the competition in the market. For example, aircraft engine parts manufacturer, as a part of their strategy to capture the lucrative aftermarket parts business, now provide original equipment at lower margins. This is then compensated by higher margins obtained from spares.

To further strengthen their foothold in the market, vendors are also entering long-terms deals with the aircraft operators. For example, in 2015, Parker-Hannifin, a manufacturer of the motion and control technologies and systems, signed long-term deals with Emirates Airline, Tianjin Airline and Singapore Airlines, to provide them with integrated maintenance packages.

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US is the single largest market for aircraft aftermarket parts in the region and has also widely accepted the utilization of aircraft aftermarket PMA parts (along with aftermarket OEM parts). Aftermarket PMA parts are largely preferred by the growing number of LCC carriers, over the OEM aftermarket parts, because of the cost benefits. In the US, aftermarket PMA parts are under FAA PMA approval and come from alternative manufacturers that are not affiliated with OEMs. Until 2000, the US was the prime market for PMA production, and still is one of the major commercial aircraft PMA markets.

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