Aircraft Aftermarket Parts Market
Aircraft Aftermarket Parts Market Forecasts to 2030 - Global Analysis By Part Type (Airframe Parts, Engine Parts, Landing Gear Parts, Avionics Parts, Electrical Parts, Interior Parts, Control Surfaces and Other Part Types), Aircraft Type, Service Type, Material, Application, End User and By Geography
According to Stratistics MRC, the Global Aircraft Aftermarket Parts Market is accounted for $48.82 billion in 2024 and is expected to reach $90.78 billion by 2030 growing at a CAGR of 10.5% during the forecast period. Aircraft aftermarket parts refer to components and assemblies that are sold after the original sale of the aircraft. These parts can include replacement, repair, or refurbished items and are critical for maintaining the safety, efficiency, and reliability of aircraft operations. Aftermarket parts may be manufactured by third-party suppliers or can be surplus parts from the original equipment manufacturer (OEM). The aftermarket sector plays a significant role in the aviation industry, providing options for cost-effective maintenance and supporting the longevity of aircraft throughout their operational lifespan.
According to a report by Purnea University, in 2022 the world expends $2.0 trillion amount on defense aircraft.
Market Dynamics:
Driver:
Aging aircraft fleet
As aircraft age, their components naturally experience wear and tear, necessitating the replacement of parts to ensure safety and operational efficiency. Airlines are compelled to invest in aftermarket parts to comply with stringent safety regulations and minimize downtime. Additionally, older aircraft may require specialized parts that are no longer in production, prompting operators to seek aftermarket solutions from suppliers, thereby driving market growth as airlines focus on maintaining their fleets for optimal performance.
Restraint:
Complex regulations and certification processes
Complex regulations and certification processes in the aircraft aftermarket parts arise from stringent safety and quality standards mandated by aviation authorities. These regulations ensure that all parts meet rigorous performance criteria to maintain aircraft safety and reliability. However, the intricate nature of these processes can delay the introduction of new aftermarket products and increase compliance costs for manufacturers and suppliers. Additionally, navigating these regulations can be time-consuming and resource-intensive, ultimately hampering the market growth.
Opportunity:
Growing air travel demand
With airlines transporting more passengers and cargo, they expand their fleets to meet growing capacity demands, which in turn increases the need for maintenance and repair services. This rise in operational aircraft necessitates regular replacement and servicing of components, boosting the demand for aftermarket parts. Furthermore, airlines aim to enhance fleet performance and reliability to improve customer satisfaction, leading to greater investments in maintenance. Given the rising travel demand, airlines emphasize the importance of having quality aftermarket parts available to ensure safety and compliance, thereby further driving market growth.
Threat:
Technological obsolescence
Technological obsolescence in aircraft aftermarket parts occurs as advancements in aviation technology render older components outdated or less efficient. This rapid pace of innovation can lead to decreased demand for certain aftermarket parts, as airlines prefer newer, more efficient alternatives that enhance performance and fuel efficiency. This shift can hinder market growth by limiting the lifespan and relevance of existing aftermarket parts, ultimately discouraging investment and innovation in the sector.
Covid-19 Impact
The covid-19 pandemic significantly impacted the aircraft aftermarket parts market, leading to reduced air travel and airline revenue. This resulted in decreased demand for maintenance, repair, and overhaul (MRO) services, as airlines grounded fleets and postponed scheduled maintenance. Supply chain disruptions also hindered the availability of parts, causing delays in repairs. However, the market is gradually recovering as travel demand rebounds, prompting airlines to resume maintenance activities and invest in aftermarket parts to ensure fleet safety and compliance.
The upgrades/modifications segment is expected to be the largest during the forecast period
The upgrades/modifications segment is predicted to secure the largest market share throughout the forecast period owing to its enhanced aircraft performance, safety, and efficiency. It includes advanced avionics, upgraded engines, and structural modifications to meet evolving regulations and operational demands. Airlines and operators invest in aftermarket upgrades to improve fuel efficiency, reduce maintenance costs, and extend the lifespan of their fleets.
The maintenance, repair, and overhaul (MRO) facilities segment is expected to have the highest CAGR during the forecast period
The maintenance, repair, and overhaul (MRO) facilities segment is anticipated to witness the highest CAGR during the forecast period. MRO facilities focus on providing essential components and systems required for the upkeep and servicing of aircraft. These parts enable efficient repairs, minimize downtime, and enhance aircraft performance. The demand for aftermarket parts in MRO applications is driven by increasing air travel, aging fleets, and the need for cost-effective maintenance solutions.
Region with largest share:
Asia Pacific is expected to register the largest market share during the forecast period due to rising air travel demand, expanding airline fleets, and increasing investments in aviation infrastructure. Countries like China, India, and Japan are key players, with a focus on maintaining aging aircraft and enhancing operational efficiency. Additionally, the region benefits from technological advancements and partnerships with global suppliers. Overall, the Asia-Pacific market presents substantial opportunities as the aviation sector recovers and evolves post-pandemic.
Region with highest CAGR:
North America is projected to witness the highest CAGR over the forecast period driven by a large and mature aviation industry, including commercial airlines, cargo carriers, and military operators. The region benefits from a high volume of aircraft maintenance, repair, and overhaul (MRO) activities due to the aging fleet and stringent safety regulations. Additionally, the recovery of air travel post-COVID-19 is boosting demand, positioning North America as a key market in the global aerospace sector.
Key players in the market
Some of the key players profiled in the Aircraft Aftermarket Parts Market include Collins Aerospace, Honeywell Aerospace, Boeing Global Services, GE Aviation, Airbus S.A.S., Lufthansa Technik AG, Bombardier Inc., Pratt & Whitney, Safran S.A., Parker Hannifin Corporation, Eaton Aerospace, Rolls-Royce Holdings PLC, SIA Engineering Company, SR Technics, Sabena Technics, MTU Aero Engines AG, StandardAero, Spirit AeroSystems, Delta TechOps and AAR Corporation.
Key Developments:
In October 2024, Airbus announced enhancements to its Skywise Fleet Performance+ (SFP+) predictive maintenance platform. This upgrade is part of the Digital Alliance for Aviation, which aims to improve maintenance efficiency across various aircraft systems. The new features, powered by AI and machine learning, allow for better monitoring of critical components like air conditioning and landing gear systems.
In October 2024, Honeywell announced an end-to-end digital maintenance solution specifically designed for Honeywell business jet turbofan engines. Ensemble automatically collects and transmits engine data for near-real-time analysis. This service detects potential issues proactively, thereby minimizing disruptions and enhancing aircraft uptime.
Part Types Covered:
• Airframe Parts
• Engine Parts
• Landing Gear Parts
• Avionics Parts
• Electrical Parts
• Interior Parts
• Control Surfaces
• Other Part Types
Aircraft Types Covered:
• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
• Other Aircraft Types
Service Types Covered:
• Repair
• Replacement
• Upgrades/Modifications
• Other Service Types
Materials Covered:
• Metals
• Composites
• Alloys
• Other Materials
Applications Covered:
• Routine Maintenance
• Unscheduled Maintenance
• Pre-Flight Inspections
• Other Applications
End Users Covered:
• Cargo Operators
• Maintenance, Repair, and Overhaul (MRO) Facilities
• Military Organizations
• Private Operators
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aircraft Aftermarket Parts Market, By Part Type
5.1 Introduction
5.2 Airframe Parts
5.3 Engine Parts
5.4 Landing Gear Parts
5.5 Avionics Parts
5.6 Electrical Parts
5.7 Interior Parts
5.8 Control Surfaces
5.9 Other Part Types
6 Global Aircraft Aftermarket Parts Market, By Aircraft Type
6.1 Introduction
6.2 Commercial Aircraft
6.3 Regional Aircraft
6.4 General Aviation
6.5 Military Aircraft
6.6 Other Aircraft Types
7 Global Aircraft Aftermarket Parts Market, By Service Type
7.1 Introduction
7.2 Repair
7.3 Replacement
7.4 Upgrades/Modifications
7.5 Other Service Types
8 Global Aircraft Aftermarket Parts Market, By Material
8.1 Introduction
8.2 Metals
8.3 Composites
8.4 Alloys
8.5 Other Materials
9 Global Aircraft Aftermarket Parts Market, By Application
9.1 Introduction
9.2 Routine Maintenance
9.3 Unscheduled Maintenance
9.4 Pre-Flight Inspections
9.5 Other Applications
10 Global Aircraft Aftermarket Parts Market, By End User
10.1 Introduction
10.2 Cargo Operators
10.3 Maintenance, Repair, and Overhaul (MRO) Facilities
10.4 Military Organizations
10.5 Private Operators
10.6 Other End Users
11 Global Aircraft Aftermarket Parts Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Collins Aerospace
13.2 Honeywell Aerospace
13.3 Boeing Global Services
13.4 GE Aviation
13.5 Airbus S.A.S.
13.6 Lufthansa Technik AG
13.7 Bombardier Inc.
13.8 Pratt & Whitney
13.9 Safran S.A.
13.10 Parker Hannifin Corporation
13.11 Eaton Aerospace
13.12 Rolls-Royce Holdings PLC
13.13 SIA Engineering Company
13.14 SR Technics
13.15 Sabena Technics
13.16 MTU Aero Engines AG
13.17 StandardAero
13.18 Spirit AeroSystems
13.19 Delta TechOps
13.20 AAR Corporation
List of Tables
1 Global Aircraft Aftermarket Parts Market Outlook, By Region (2022-2030) ($MN)
2 Global Aircraft Aftermarket Parts Market Outlook, By Part Type (2022-2030) ($MN)
3 Global Aircraft Aftermarket Parts Market Outlook, By Airframe Parts (2022-2030) ($MN)
4 Global Aircraft Aftermarket Parts Market Outlook, By Engine Parts (2022-2030) ($MN)
5 Global Aircraft Aftermarket Parts Market Outlook, By Landing Gear Parts (2022-2030) ($MN)
6 Global Aircraft Aftermarket Parts Market Outlook, By Avionics Parts (2022-2030) ($MN)
7 Global Aircraft Aftermarket Parts Market Outlook, By Electrical Parts (2022-2030) ($MN)
8 Global Aircraft Aftermarket Parts Market Outlook, By Interior Parts (2022-2030) ($MN)
9 Global Aircraft Aftermarket Parts Market Outlook, By Control Surfaces (2022-2030) ($MN)
10 Global Aircraft Aftermarket Parts Market Outlook, By Other Part Types (2022-2030) ($MN)
11 Global Aircraft Aftermarket Parts Market Outlook, By Aircraft Type (2022-2030) ($MN)
12 Global Aircraft Aftermarket Parts Market Outlook, By Commercial Aircraft (2022-2030) ($MN)
13 Global Aircraft Aftermarket Parts Market Outlook, By Regional Aircraft (2022-2030) ($MN)
14 Global Aircraft Aftermarket Parts Market Outlook, By General Aviation (2022-2030) ($MN)
15 Global Aircraft Aftermarket Parts Market Outlook, By Military Aircraft (2022-2030) ($MN)
16 Global Aircraft Aftermarket Parts Market Outlook, By Other Aircraft Types (2022-2030) ($MN)
17 Global Aircraft Aftermarket Parts Market Outlook, By Service Type (2022-2030) ($MN)
18 Global Aircraft Aftermarket Parts Market Outlook, By Repair (2022-2030) ($MN)
19 Global Aircraft Aftermarket Parts Market Outlook, By Replacement (2022-2030) ($MN)
20 Global Aircraft Aftermarket Parts Market Outlook, By Upgrades/Modifications (2022-2030) ($MN)
21 Global Aircraft Aftermarket Parts Market Outlook, By Other Service Types (2022-2030) ($MN)
22 Global Aircraft Aftermarket Parts Market Outlook, By Material (2022-2030) ($MN)
23 Global Aircraft Aftermarket Parts Market Outlook, By Metals (2022-2030) ($MN)
24 Global Aircraft Aftermarket Parts Market Outlook, By Composites (2022-2030) ($MN)
25 Global Aircraft Aftermarket Parts Market Outlook, By Alloys (2022-2030) ($MN)
26 Global Aircraft Aftermarket Parts Market Outlook, By Other Materials (2022-2030) ($MN)
27 Global Aircraft Aftermarket Parts Market Outlook, By Application (2022-2030) ($MN)
28 Global Aircraft Aftermarket Parts Market Outlook, By Routine Maintenance (2022-2030) ($MN)
29 Global Aircraft Aftermarket Parts Market Outlook, By Unscheduled Maintenance (2022-2030) ($MN)
30 Global Aircraft Aftermarket Parts Market Outlook, By Pre-Flight Inspections (2022-2030) ($MN)
31 Global Aircraft Aftermarket Parts Market Outlook, By Other Applications (2022-2030) ($MN)
32 Global Aircraft Aftermarket Parts Market Outlook, By End User (2022-2030) ($MN)
33 Global Aircraft Aftermarket Parts Market Outlook, By Cargo Operators (2022-2030) ($MN)
34 Global Aircraft Aftermarket Parts Market Outlook, By Maintenance, Repair, and Overhaul (MRO) Facilities (2022-2030) ($MN)
35 Global Aircraft Aftermarket Parts Market Outlook, By Military Organizations (2022-2030) ($MN)
36 Global Aircraft Aftermarket Parts Market Outlook, By Private Operators (2022-2030) ($MN)
37 Global Aircraft Aftermarket Parts Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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