Our research report on "Commercial Aircraft Aftermarket Parts Market – Forecast and Analysis Report 2021-2025" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.
Commercial Aircraft Aftermarket Parts Market Report Key Highlights
- Estimated year-on-year growth rate: 3.98%
- Key market segments: Application (MRO parts and rotable scrap replacement parts), and Geography (North America, APAC, Europe, South America, and MEA)
- Key Consumer Region & contribution: APAC – 36%
Commercial Aircraft Aftermarket Parts Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.42% |
Market growth 2021-2025 |
$ 9.55 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.98 |
Regional analysis |
Europe, APAC, North America, MEA, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, UK, China, France, and Singapore |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
A J Walter Aviation Ltd., AAR Corp., Bombardier Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., Meggitt Plc, Parker Hannifin Corp., Raytheon Technologies Corp., and The Boeing Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!
Commercial Aircraft Aftermarket Parts Market Trend
- Preferences for collaborative efforts
The increasing preferences for collaborative efforts in the aviation industry is one of the key factors driving the global commercial aircraft aftermarket parts market during the forecast period. The imposition of stringent regulatory norms has obstructed the entry of new vendors in the aerospace manufacturing industry, but new entrants are being allowed due to factors such as prolonged periods in the development of aircraft and the need to develop partnerships with vendors having proven expertise in particular fields. Moreover, OEMs are also expected to encourage new entrants into the market which also can boost the product development process as well as benefit the small vendors in turn. Thus, the collaborative efforts will push the demand for efficient, lightweight, and reliable aftermarket parts in the coming years.
Commercial Aircraft Aftermarket Parts Market Challenge
Shortage of resources is one of the key challenges for the global commercial aircraft aftermarket parts market growth. The global commercial aircraft aftermarket parts market is surging parallel with the commercial aviation market. capacity areas limitation, especially in the case of engine overhauls results in creating congestion leading to a gap in supply and demand. Moreover, this is highly applicable in Boeing 737 and Airbus A320 aircraft. Additionally, the commercial aviation industry is facing problems such as a rise in turn-around times for engine shop visits due to the low availability of certain narrow-body aircraft engine materials. Therefore, such factors are expected to hinder the global commercial aircraft aftermarket parts market share growth during the forecast period.
Get free sample for extensive insights on key market Drivers, Trends, and Challenges influencing the commercial aircraft aftermarket parts market.
Key Market Vendors Insights
The commercial aircraft aftermarket parts market is fragmented, and the vendors are deploying various organic and inorganic strategies to compete in the market.
Some of the key market vendors are:
- A J Walter Aviation Ltd.
- AAR Corp.
- Bombardier Inc.
- Eaton Corp. Plc
- General Electric Co.
- Honeywell International Inc.
- Meggitt Plc
- Parker Hannifin Corp.
- Raytheon Technologies Corp.
- The Boeing Co.
For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download free sample report
- Key Segment Analysis by Application
The growth of commercial aircraft aftermarket parts market by the MRO parts will be significant during the forecast period. The aircraft MRO industry is highly regulated, as it plays a crucial role in certifying the airworthiness of aircraft. The growth of the MRO parts segment will be driven by the OEMs that provide total care programs for attracting customers and gaining a lucrative share of the market.
- Rotable scrap replacement parts
Regional Market Analysis
APAC will contribute to 36% of the global commercial aircraft aftermarket parts market share growth during the forecast period. China and Singapore are the major markets for commercial aircraft aftermarket parts in APAC.
The increasing demand for newer-generation fuel-efficient aircraft is expected to boost the commercial aircraft aftermarket parts market growth in the region.
Request our free sample for additional highlights and key segments that are expected to impact the market during the forecast period.
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