The commercial Aircraft Aftermarket Parts Market is estimated to register substantial growth during the forecast period owing to increasing demand from various applications during the forecast period. Also, this market has witnessed the number of key developments by major companies operating in the market including new product development, partnerships, contracts, and so on.

The rapidly expanding global commercial aircraft industry, along with the increasing average age of commercial aircraft are the major drivers for the growth of the commercial aircraft aftermarket parts market. The introduction of stringent regulations by EPS (Environmental Protection Agency) regarding the safety and efficient aircraft operation pushes airline operators towards proper maintenance and repair of commercial aircraft, which has, in turn, propelled the growth of this market. Other factors driving the market growth include the growing need for an upgrade, and repair of commercial aircraft, technological advancements, rising demand for fuel-efficient commercial aircraft, and increasing air traffic.

The global commercial aircraft aftermarket parts market is segmented on the basis of product type and aircraft type.

On the basis of product type, it is segmented into MRO parts, rotatable replacement parts, and others. The MRO (Maintenance, repair, and overhaul) product type is most widely used and includes parts include engines, components, and airframe parts. MRO is carried out by companies in order to retain or restore aircraft parts for smooth functioning. It is vital that all the companies offering MRO services must be certified by the (Federal Aviation Administration (FAA).

Based on aircraft type, it is segmented into wide-body aircraft, narrow-body aircraft, and regional jet. The narrow-body aircraft is majorly used owing to their connectivity and market presence, new routes are being introduced. The increasing landing and takeoffs of narrow-body aircraft are increasing the wear and tear of the aircraft, thereby, increasing the demand for narrow-body aircraft.

Key Factors Impacting Market Growth:

• Increasing the need to maintain and repair aircraft in order to increase longevity and address safety concerns.
• Growth of the aviation industry

Key Developments:

• In January 2019, AAR signed a seven-year contract with the Danish Defense Acquisition and Logistics Organization (DALO) to provide MRO services for Pratt & Whitney F100-220 engine components.
• In November 2018, AAR signed a five-year contract worth USD 51 million with the US Marshals Service (USMS) to provide maintenance and logistics support services for the Boeing 737 series aircraft.
• In March 2019, A.J. Walter Aviation Limited signed a contract with Smart Lynx Airlines to provide consumables and expendables.

 Regional Analysis

By region, the commercial aircraft aftermarket parts market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe have been dominant players in this market with the presence of major companies along with strong aerospace & defense infrastructure in the region. In addition to this, some of the major countries in these regions such as the US, France, the UK, Canada, and others have been global exporters of aerospace & defense technologies with established research & development centers.

The Asia Pacific region is estimated to register fastest growing owing to the presence of some of the major economies including China, India, South Korea, and others in the region. These countries have witnessed strong government spending on defense infrastructure along with the promotion of air transport and space research in recent decades. The Middle East region is estimated to be a potential region for commercial aircraft aftermarket parts market during the forecast period. Eastern Europe consisting of Russia and Turkey is estimated to have a stable demand during the forecast period. The rest of the World is expected to be an emerging market with growing demand during the forecast period. 

Companies Covered:  LKD Aerospace, B/E Aerospace, Inc., Atlantis Systems Corp., Aventure International Aviation Services, General Electric Company, Pratt & Whitney, A J Walter Aviation Limited, Rockwell Collins, Honeywell International, and BF Goodrich

Market Segmentation:

By Product Type:

• MRO parts
• Rotable Replacement Parts
• Others

By Aircraft Type:

• Wide Body
• Narrow Body
• Regional Jet

By Region:

• North America
  • By Country (US, Canada, Mexico)
  • By Product Type
  • By Aircraft Type
• Western Europe:
  • By Country (Germany, UK, France, Spain, Rest of Western Europe)
  • By Product Type
  • By Aircraft Type
• Eastern Europe:
  • By Country (Russia, Turkey, Rest of Eastern Europe)
  • By Product Type
  • By Aircraft Type
• Asia Pacific
  • By Country (China, Japan, India, Rest of Asia Pacific)
  • By Product Type
  • By Aircraft Type
• Middle East:
  • By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
  • By Product Type
  • By Aircraft Type
• Rest of the World
  • By Region (Latin America, Brazil, Rest of the World)
  • By Product Type
  • By Aircraft Type

Reasons To Buy This Report:

• Market size estimation of the global commercial aircraft aftermarket parts market on a regional and global basis
• The unique research design for market size estimation and forecast
• Profiling of major companies operating in the market with key developments
• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

• By Segment
• By Sub-segment
• By Region/Country

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