Commercial Aircraft Aftermarket Parts Market by Component Type (Engine, Airframe, Interior, and Others), Parts (Maintenance Repair and Operation Parts (MRO), Rotable Replacement Parts), Aircraft Type (Narrow-body, Wide-body, Regional Jet), and Region 2023

Commercial Aircraft Aftermarket Parts Market by Component Type (Engine, Airframe, Interior, and Others), Parts (Maintenance Repair and Operation Parts (MRO), Rotable Replacement Parts), Aircraft Type (Narrow-body, Wide-body, Regional Jet), and Region 2023-2028

Market Overview:

The global commercial aircraft aftermarket parts market size reached US$ 39.51 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.28 Billion by 2028, exhibiting a growth rate (CAGR) of 6.30% during 2023-2028. The bolstering growth of the aviation industry, the rising demand for proper maintenance, upgrade, and repair of commercial aircraft, and the implementation of stringent regulations regarding aircraft maintenance represent some of the key factors driving the market.

Commercial aircraft aftermarket parts are components and systems used in the maintenance, repair, and overhaul of commercial aircraft after they have been delivered from the original equipment manufacturer (OEM). These parts are used to replace worn and damaged parts or upgrade existing systems to improve aircraft performance or meet new regulatory requirements, ensuring that the aircraft remain safe, reliable, and efficient. Some of the standard commercial aircraft aftermarket parts include engines, avionics, landing gear, electrical systems, and interior components. They can be sourced from various suppliers, including third-party manufacturers and distributors. Aftermarket parts are usually more economical than OEM parts and help lower maintenance costs. Apart from this, their vast and easy availability reduces aircraft downtime and improves operational efficiency.

Commercial Aircraft Aftermarket Parts Market Trends:
One of the primary factors driving the market growth is the increasing air traffic and demand for air travel, which, in turn, is fueling the need for aftermarket parts to support the maintenance, repair, and upgrade of existing aircraft fleets. Besides this, the emerging trends of aircraft leasing and exchange programs, as well as the implementation of stringent regulations for aircraft maintenance, are strengthening the expanding market. Moreover, the increase in retirements and the aging of the global aircraft fleet is further impelling the need for consistent maintenance, repair, and overhaul activities to improve longevity and address safety concerns, thus creating a favorable outlook for the market. Concurrent with this, the rising product demand to support the expanding fleets of low-cost carriers and ensure enhanced safety and efficiency is presenting remunerative growth opportunities for the market. In addition to this, the shifting preference for outsourcing aircraft maintenance services and the extensive focus on cost reduction among airlines is catalyzing the demand for aftermarket parts that offer better value for money than OEM parts. This, in confluence with the surge in the use of e-commerce channels for procuring aftermarket aviation parts, is acting as a significant growth-inducing factor. Furthermore, ongoing technological advancements in the industry are generating an increasing demand for aftermarket parts that support new technologies and capabilities, which, in turn, is propelling the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global commercial aircraft aftermarket parts market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on component type, parts, and aircraft type.

Component Type Insights:

Engine
Airframe
Interior
Others

The report has provided a detailed breakup and analysis of the commercial aircraft aftermarket parts market based on the component type. This includes engine, airframe, interior, and others. According to the report, engine represented the largest segment.

Parts Insights:

Maintenance Repair and Operation Parts (MRO)
Rotable Replacement Parts

A detailed breakup and analysis of the commercial aircraft aftermarket parts market based on the parts has also been provided in the report. This includes maintenance repair and operation parts (MRO) and rotable replacement parts. According to the report, maintenance repair and operation parts (MRO) accounted for the largest market share.

Aircraft Type Insights:

Narrow-body
Wide-body
Regional Jet

The report has provided a detailed breakup and analysis of the commercial aircraft aftermarket parts market based on the aircraft type. This includes narrow-body, wide-body, and regional jets. According to the report, narrow-body represented the largest segment.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for commercial aircraft aftermarket parts. Some of the factors driving the North America commercial aircraft aftermarket parts market included the increasing demand for air travel, the implementation of stringent government regulations regarding proper maintenance, and the expanding airline fleets.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global commercial aircraft aftermarket parts market. Detailed profiles of all major companies have been provided. Some of the companies covered include A J Walter Aviation Limited, AAR Corp., Aventure International Aviation Services LLC, Bombardier Inc, General Electric Company, GKN Aerospace (Melrose Industries), Honeywell International Inc., Moog Inc., Raytheon Technologies Corporation, The Boeing Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global commercial aircraft aftermarket parts market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global commercial aircraft aftermarket parts market?
What is the impact of each driver, restraint, and opportunity on the global commercial aircraft aftermarket parts market?
What are the key regional markets?
Which countries represent the most attractive commercial aircraft aftermarket parts market?
What is the breakup of the market based on the component type?
Which is the most attractive component type in the commercial aircraft aftermarket parts market?
What is the breakup of the market based on the parts?
Which is the most attractive part in the commercial aircraft aftermarket parts market?
What is the breakup of the market based on the aircraft type?
Which is the most attractive aircraft type in the commercial aircraft aftermarket parts market?
What is the competitive structure of the global commercial aircraft aftermarket parts market?
Who are the key players/companies in the global commercial aircraft aftermarket parts market?