Commercial Aircraft Aftermarket Market Trends

  • Report ID: 2239
  • Published Date: May 22, 2024
  • Report Format: PDF, PPT

Commercial Aircraft Aftermarket Market Trends

Growth Drivers

  • Increased Requirement for Timely Maintenance of AircraftsMaintenance of aircraft carriers can cost billions, so it is mandatory to have a proper and timely maintenance system that can save time and money. For instance, 27% of the demand for airplane MRO in Africa in 2017 was for component maintenance. Therefore, growing concerns for timely maintenance which can prevent any form of aviation accidents are driving the market growth rapidly as the aircraft operators prefer repairing the parts on time.
  • Increasing Age of Aircraft Fleet -   To avoid debt for the purchase of new aircraft, a number of small operators in the aviation sector are using old aircraft. In order to maintain the safety of the aircraft fleet, the market's growth is being driven by concern among operators about aging fleets through consideration of airworthiness for replacement, alteration, and modification at relatively low costs. This factor is expected to escalate the market growth during the forecast period.
  •  Increase in the Number of Retired Aircraft to Facilitate the Used Serviceable Materials (USM) Airlines are restructuring their fleets in order to cope with this financial impact by considering the discontinuation of aircraft earlier. As a result, since 2020 there has been an important growth in the disintegration, dismantling, and recycling of passenger aircraft. Thus, this factor is increasing the demand for the Used Serviceable Materials (USM) domain. The USM is expected to increase significantly with a rate of 68.2% through 2022, despite suffering a significant fall in 2020. Also, governments in many regions are encouraging the use of sustainable aviation fuels, in order to reduce carbon emissions. Besides USM parts are significantly contributing to the market growth.

Challenges

  • Rising Concern for Inventory Costs among Airlines – The increasing inventory costs related to the storage of spare parts are disturbing their operational expenditure. In addition to this, other factors such as growing aircraft fuel costs, and increasing additional operational spending are levitating the concern amongst airline operators to minimize costs. Such factors may hinder the market growth of market.
  • Issues Associated with the Management of Facilities will Disrupt the Supply Chain
  • Shortage of Resources

Commercial Aircraft Aftermarket Parts Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

4.5%

Base Year Market Size (2023)

 USD 37 Billion

Forecast Year Market Size (2036)

 USD 65.8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Dhruv Bhatia


  • Report ID: 2239
  • Published Date: May 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increased requirement for timely maintenance of aircrafts, increasing age of aircraft fleet and increase in the number of retired aircraft to facilitate the Used Serviceable Materials (USM)

The market size of commercial aircraft aftermarket parts is anticipated to attain a CAGR of 11% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Leonardo S.p.A, Aventure International Aviation Services, Honeywell International Inc, Airbus SE, Parker Hannifin Corporation, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, Subaru Corporation, Sojitz Corporation, Boeing and others.

The MRO and Rotable Replacement Parts segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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