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Commercial Aircraft Aftermarket Parts Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jan 2022
  • Pages: 120
  • SKU: IRTNTR72035
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The commercial aircraft aftermarket parts market share is expected to increase by USD  9.55 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.42%.

This commercial aircraft aftermarket parts market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial aircraft aftermarket parts market segmentation by application (MRO parts and rotable scrap replacement parts) and geography (Europe, APAC, North America, MEA, and South America). The commercial aircraft aftermarket parts market report also offers information on several market vendors, including A J Walter Aviation Ltd., AAR Corp., Bombardier Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., Meggitt Plc, Parker Hannifin Corp., Raytheon Technologies Corp., and The Boeing Co. among others.

What will the Commercial Aircraft Aftermarket Parts Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Commercial Aircraft Aftermarket Parts Market Size for the Forecast Period and Other Important Statistics

 

Commercial Aircraft Aftermarket Parts Market: Key Drivers, Trends, and Challenges

The growth of e-commerce is notably driving the commercial aircraft aftermarket parts market growth, although factors such as shortage of resources may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial aircraft aftermarket parts industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Commercial Aircraft Aftermarket Parts Market Driver

The growth of e-commerce is one of the key factors driving the global commercial aircraft aftermarket parts market growth. Using e-commerce to distribute aviation parts has enabled many global players to reduce transaction costs, improve inventory management, and increase productivity and efficiency of conducting business through business-to-business (B2B) global distribution. It is projected that in the next five years, aircraft parts locators (i.e., suppliers or e-commerce platforms) will be completely modified to meet the customer needs and automatically authorize with an integrated payment system, which will be installed at the aviation spare parts' locator platform. Rapid development in the aviation sector and in global credit payment systems will encourage key vendors to utilize e-commerce to provide services at the customers' preferred time and location, which is expected to positively impact the market in focus during the forecast period.

Key Commercial Aircraft Aftermarket Parts Market Trend

Another key factor driving the global commercial aircraft aftermarket parts market growth is the preference for collaborative efforts in the aerospace industry. Stringent regulatory norms have barred the entry of new vendors considerably in the aerospace manufacturing sector. However, new entrants have been allowed due to several factors, such as prolonged development phases of aircraft and the requirement for partners who have proven expertise in particular fields. OEMs are anticipated to encourage newcomers to invest in the market while representing their key areas of interest. Moreover, the sharing of technical expertise also allows for faster product development. Smaller vendors can benefit from such collaborations and can attract other vendors to venture into the aerospace cabin interior product market. Such collaborative efforts will emerge with the demand for efficient, lightweight, and reliable aftermarket parts, which can boost the market growth in the coming years

Key Commercial Aircraft Aftermarket Parts Market Challenge

One of the key challenges to the commercial aircraft aftermarket parts market growth is the shortage of resources. For instance, limited capacity areas, specifically in the case of engine overhauls, are creating a bottleneck, which led to a supply-demand gap. This is applicable to the most popular global fleets of Boeing 737 and Airbus A320 families. Moreover, the increasing turn-around times for engine shop visits due to the scarcity of certain narrow-body aircraft engine materials has become a real risk to the growth of the engine aftermarket, which is expected to hamper the growth of the global commercial aircraft aftermarket parts market during the forecast period.

This commercial aircraft aftermarket parts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global commercial aircraft aftermarket parts market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial aircraft aftermarket parts market during the forecast period.

Who are the Major Commercial Aircraft Aftermarket Parts Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • A J Walter Aviation Ltd.
  • AAR Corp.
  • Bombardier Inc.
  • Eaton Corp. Plc
  • General Electric Co.
  • Honeywell International Inc.
  • Meggitt Plc
  • Parker Hannifin Corp.
  • Raytheon Technologies Corp.
  • The Boeing Co.

 

This statistical study of the commercial aircraft aftermarket parts market encompasses successful business strategies deployed by the key vendors. The commercial aircraft aftermarket parts market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.

Product Insights and News

  • A J Walter Aviation Ltd. - The company offers a wide range of commercial aircraft aftermarket parts such as fan blades, airframes among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The commercial aircraft aftermarket parts market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Commercial Aircraft Aftermarket Parts Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the commercial aircraft aftermarket parts market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global aerospace and defense market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Marketing and sales
  • Aftermarket and service
  • Industry innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Commercial Aircraft Aftermarket Parts Market?

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36% of the market’s growth will originate from APAC during the forecast period. China and Singapore are the key markets for commercial aircraft aftermarket parts in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The significant increase in demand for newer-generation fuel-efficient aircraft will facilitate the commercial aircraft aftermarket parts market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

APAC was one of the worst-hit regions with the COVID-19 outbreak in 2020. India witnessed the second wave of the pandemic in the first half of 2021. As of December 28, 2021, the country registered over 34.8 million COVID-19 cases, which led to partial or complete lockdowns in various states in the country and adversely impacted the manufacturing operations in the aircraft OEM industry. Due to these factors, the growth of the commercial aircraft aftermarket parts market in the country was low in 2020. However, in 2021, with massive COVID-19 vaccination drives, the number of confirmed cases is expected to subside during the forecast period.

What are the Revenue-generating Application Segments in the Commercial Aircraft Aftermarket Parts Market?

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The commercial aircraft aftermarket parts market share growth by the MRO parts segment will be significant during the forecast period. The growth will be supported by the increasing involvement of OEMs that provide total care programs to attract customers and to gain a lucrative share of the market. Other factors such as agreements or joint initiatives between MRO providers and OEMs, innovative services offered to customers, and  MRO centers will further accelerate the growth in this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the commercial aircraft aftermarket parts market size and actionable market insights on post COVID-19 impact on each segment.

 

Commercial Aircraft Aftermarket Parts Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.42%

Market growth 2021-2025

$ 9.55 billion

Market structure

Fragmented

YoY growth (%)

3.98

Regional analysis

Europe, APAC, North America, MEA, and South America

Performing market contribution

APAC at 36%

Key consumer countries

US, UK, China, France, and Singapore

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

A J Walter Aviation Ltd., AAR Corp., Bombardier Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., Meggitt Plc, Parker Hannifin Corp., Raytheon Technologies Corp., and The Boeing Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Commercial Aircraft Aftermarket Parts Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive commercial aircraft aftermarket parts market growth during the next five years
  • Precise estimation of the commercial aircraft aftermarket parts market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the commercial aircraft aftermarket parts industry across Europe, APAC, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of commercial aircraft aftermarket parts market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • MRO parts - Market size and forecast 2020-2025
  • Rotable scrap replacement parts - Market size and forecast 2020-2025
  • Market opportunity by Application

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2020-2025
  • APAC - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • A J Walter Aviation Ltd.
  • AAR Corp.
  • Bombardier Inc.
  • Eaton Corp. Plc
  • General Electric Co.
  • Honeywell International Inc.
  • Meggitt Plc
  • Parker Hannifin Corp.
  • Raytheon Technologies Corp.
  • The Boeing Co.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The commercial aircraft aftermarket parts market growth will increase by $9.55 billion during 2020-2025.
The commercial aircraft aftermarket parts market is expected to grow at a CAGR of 5.42% during 2020-2025.
Technavio has segmented the commercial aircraft aftermarket parts market by application (MRO parts and Rotable scrap replacement parts) and geographic (Europe, APAC, North America, MEA, and South America).
A J Walter Aviation Ltd., AAR Corp., Bombardier Inc., Eaton Corp. Plc, General Electric Co., Honeywell International Inc., Meggitt Plc, Parker Hannifin Corp., Raytheon Technologies Corp., The Boeing Co. are a few of the key vendors in the commercial aircraft aftermarket parts market.
APAC will register the highest growth rate of 36.13% among the other regions. Therefore, the commercial aircraft aftermarket parts market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the commercial aircraft aftermarket parts market growth are:
  • Growth of e-commerce
The commercial aircraft aftermarket parts market vendors should focus on grabbing business opportunities from the mro parts segment as it accounted for the largest market share in the base year.
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