Commercial Aircraft PMA

Commercial Aircraft PMA

Global Commercial Aircraft PMA Market to Reach US$14.0 Billion by 2030

The global market for Commercial Aircraft PMA estimated at US$11.0 Billion in the year 2023, is expected to reach US$14.0 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2023-2030.

The U.S. Market is Estimated at US$2.6 Billion While China is Forecast to Grow at 5.3% CAGR

The Commercial Aircraft PMA market in the U.S. is estimated at US$2.6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2030 trailing a CAGR of 5.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.6% CAGR.

Global Commercial Aircraft PMA Market - Key Trends & Drivers Summarized

Parts Manufacturer Approval (PMA) in the commercial aircraft industry is a certification granted by the Federal Aviation Administration (FAA) that allows a manufacturer to produce and sell replacement parts for aircraft. This process ensures that the parts meet stringent safety and performance standards, similar to the original equipment manufacturer (OEM) parts. PMA parts can range from simple components like bolts and fasteners to complex assemblies such as engine components and avionics systems. Over the years, PMA has evolved into a critical element of the aviation supply chain, providing airlines with cost-effective alternatives to OEM parts without compromising on quality or safety. The increased adoption of PMA parts is also supported by rigorous testing and compliance procedures that ensure they meet or exceed the performance of their OEM counterparts.

The growth in the commercial aircraft PMA market is driven by several factors, including technological advancements, the expanding global fleet of commercial aircraft, and shifting consumer behavior towards cost-effective maintenance solutions. The proliferation of advanced materials and manufacturing technologies has allowed PMA manufacturers to produce high-quality parts that meet stringent regulatory standards. Furthermore, the global commercial aircraft fleet is continually expanding, driven by increased air travel demand, particularly in emerging markets. This expansion necessitates a greater supply of replacement parts, bolstering the PMA market. Additionally, airlines are increasingly adopting more strategic approaches to fleet maintenance and lifecycle management, prioritizing cost efficiency and reliability, which aligns with the benefits offered by PMA parts. These factors, combined with the rising trend of third-party maintenance providers leveraging PMA parts to offer competitive maintenance solutions, are propelling the market forward, ensuring a robust and dynamic growth trajectory.

Another reason behind increasing prominence of PMA parts is the continued global events which are compelling airline carriers and aircraft owners to cut costs drastically. Some of those events including terrorist attacks on US soil, the Middle Eastern wars and wars in other places, increasing international terrorism and US’ war on such terrorism, the SARS pandemic, natural disasters and calamities among several others. All these events intermittently slowed down tourism and travel, reducing income and profits for airlines. Airlines suffered due to high maintenance costs alongside reduced profits. Maintenance has been outsourced by many, to the MROs, for cutting costs.

Select Competitors (Total 112 Featured) -

• ADPma, LLC
• Aero Brake & Spares, Inc.
• AMETEK, Inc.
• HEICO Corporation
• Parker Hannifin Corporation
• Precision Castparts Corporation
• The Timken Company
• TransDigm Group, Inc.
• Triumph Group, Inc.
• Wencor Group

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.