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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.
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"Europe has a mature aerospace industry with robust technological and production capabilities."
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.
The parent market, global aerospace and defense market covers products and companies engaged in the production of aerial platforms used under commercial and general aviation; defense platforms used under naval, land, and air domains; arms and ammunition; defense electronics; defense logistics equipment; and space platforms, equipment, and launch vehicles.
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.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
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.
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.
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:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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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.
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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.
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Commercial Aircraft Aftermarket Parts Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 5.42%
Market growth 2021-2025
$ 9.55 billion
YoY growth (%)
Europe, APAC, North America, MEA, and South America
Performing market contribution
APAC at 36%
Key consumer countries
US, UK, China, France, and Singapore
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.
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
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***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Key Finding 1
*Exhibit 02: Key Finding 2
*Exhibit 03: Key Finding 3
*Exhibit 04: Key Finding 5
*Exhibit 05: Key Finding 6
*Exhibit 06: Key Finding 7
*Exhibit 07: Key Finding 8
***2. Market Landscape
**2.1 Market ecosystem
*2.1.1 Parent Market
*Exhibit 08 Parent market
*Exhibit 09: Market characteristics
**2.2 Value Chain Analysis
*Exhibit 10: Value Chain Analysis: Aerospace and defense market
*2.2.2 Inbound logistics
*2.2.4 Marketing and sales
*2.2.5 Aftermarket and service
*2.2.6 Industry innovation
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2020 - 2025
*3.4.1Estimating growth rates for emerging and high-growth markets
*3.4.2Estimating growth rates for mature markets
*Exhibit 13: Global - Market size and forecast 2020 - 2025 ($ billion)
*Exhibit 14: Global market: Year-over-year growth 2020 - 2025 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 15: Five forces analysis 2020 & 2025
**4.2 Bargaining power of buyers
*Exhibit 16: Bargaining power of the buyer
**4.3 Bargaining power of suppliers
*Exhibit 17: Bargaining power of the supplier
**4.4 Threat of new entrants
*Exhibit 18: Threat of new entrants
**4.5 Threat of substitutes
*Exhibit 19: Threat of substitutes
**4.6 Threat of rivalry
*Exhibit 20: Threat of rivalry
**4.7 Market condition
*Exhibit 21: Market condition - Five forces 2020
***5. Market Segmentation by Application
**5.1 Market segments
*Exhibit 22: Application- Market share 2020-2025 (%)
**5.2 Comparison by Application
*Exhibit 23: Comparison by Application
**5.3 MRO parts - Market size and forecast 2020-2025
*Exhibit 24: MRO parts - Market size and forecast 2020-2025 ($ billion)
*Exhibit 25: MRO parts - Year-over-year growth 2020-2025 (%)
**5.4 Rotable scrap replacement parts - Market size and forecast 2020-2025
*Exhibit 26: Rotable scrap replacement parts - Market size and forecast 2020-2025 ($ billion)
*Exhibit 27: Rotable scrap replacement parts - Year-over-year growth 2020-2025 (%)
**5.5 Market opportunity by Application
*Exhibit 28: Market opportunity by Application
***6. Customer landscape
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 29: Customer landscape
***7. Geographic Landscape
**7.1 Geographic segmentation
*Exhibit 30: Market share by geography 2020-2025 (%)
**7.2 Geographic comparison
*Exhibit 31: Geographic comparison
**7.3 Europe - Market size and forecast 2020-2025
*Exhibit 32: Europe - Market size and forecast 2020-2025 ($ billion)
*Exhibit 33: Europe - Year-over-year growth 2020-2025 (%)
**7.4 APAC - Market size and forecast 2020-2025
*Exhibit 34: APAC - Market size and forecast 2020-2025 ($ billion)
*Exhibit 35: APAC - Year-over-year growth 2020-2025 (%)
**7.5 North America - Market size and forecast 2020-2025
*Exhibit 36: North America - Market size and forecast 2020-2025 ($ billion)
*Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
**7.6 MEA- Market size and forecast 2020-2025
*Exhibit 38: MEA - Market size and forecast 2020-2025 ($ billion)
*Exhibit 39: MEA - Year-over-year growth 2020-2025 (%)
**7.7 South America - Market size and forecast 2020-2025
*Exhibit 40: South America - Market size and forecast 2020-2025 ($ billion)
*Exhibit 41: South America- Year-over-year growth 2020-2025 (%)
**7.8 Key leading countries
*Exhibit 42: Key leading countries
**7.9 Market opportunity by geography
*Exhibit 43 Market opportunity by geography ($ billion)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Growth of e-commerce
*8.1.2 Preference for high-density seating configuration
*8.1.3 Growing popularity of recycled aircraft parts
**8.2 Market challenges
*8.2.1 Shortage of resources
*8.2.2 Presence of diverse customs regulations
*8.2.3 Manufactural and procedural constraints
*Exhibit 44: Impact of drivers and challenges
**8.3 Market trends
*8.3.1 Preference for collaborative efforts in the aerospace industry
*8.3.2 Emergence of 3D printing in aircraft cabin interior
*8.3.3 New technologies gaining ground
***9. Vendor Landscape
*Exhibit 45: Vendor landscape
**9.2 Landscape disruption
*Exhibit 46: Landscape disruption
*Exhibit 47: Industry Risk
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 48: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 49: ?Market positioning of vendors?
**10.3 A J Walter Aviation Ltd.
*Exhibit 50: A J Walter Aviation Ltd. - Overview
*Exhibit 51: A J Walter Aviation Ltd. - Product and service
*Exhibit 52: A J Walter Aviation Ltd. - Key offerings
**10.4 AAR Corp.
*Exhibit 53: AAR Corp. - Overview
*Exhibit 54: AAR Corp. - Business segments
*Exhibit 55: AAR Corp. - Key offerings
*Exhibit 56: AAR Corp. - Segment focus
**10.5 Bombardier Inc.
*Exhibit 57: Bombardier Inc. - Overview
*Exhibit 58: Bombardier Inc. - Business segments
*Exhibit 59: Bombardier Inc. - Key offerings
*Exhibit 60: Bombardier Inc. - Segment focus
**10.6 Eaton Corp. Plc
*Exhibit 61: Eaton Corp. Plc - Overview
*Exhibit 62: Eaton Corp. Plc - Business segments
*Exhibit 63: Eaton Corp. Plc - Key News
*Exhibit 64: Eaton Corp. Plc - Key offerings
*Exhibit 65: Eaton Corp. Plc - Segment focus
**10.7 General Electric Co.
*Exhibit 66: General Electric Co. - Overview
*Exhibit 67: General Electric Co. - Business segments
*Exhibit 68: General Electric Co. - Key offerings
*Exhibit 69: General Electric Co. - Segment focus
**10.8 Honeywell International Inc.
*Exhibit 70: Honeywell International Inc. - Overview
*Exhibit 71: Honeywell International Inc. - Business segments
*Exhibit 72: Honeywell International Inc. - Key offerings
*Exhibit 73: Honeywell International Inc. - Segment focus
**10.9 Meggitt Plc
*Exhibit 74: Meggitt Plc - Overview
*Exhibit 75: Meggitt Plc - Business segments
*Exhibit 76: Meggitt Plc - Key offerings
*Exhibit 77: Meggitt Plc - Segment focus
**10.10 Parker Hannifin Corp.
*Exhibit 78: Parker Hannifin Corp. - Overview
*Exhibit 79: Parker Hannifin Corp. - Business segments
*Exhibit 80: Parker Hannifin Corp. - Key offerings
*Exhibit 81: Parker Hannifin Corp. - Segment focus
**10.11 Raytheon Technologies Corp.
*Exhibit 82: Raytheon Technologies Corp. - Overview
*Exhibit 83: Raytheon Technologies Corp. - Product and service
*Exhibit 84: Raytheon Technologies Corp. - Key offerings
**10.12 The Boeing Co.
*Exhibit 85: The Boeing Co. - Overview
*Exhibit 86: The Boeing Co. - Business segments
*Exhibit 87: The Boeing Co. - Key offerings
*Exhibit 88: The Boeing Co. - Segment focus
**11.1 Scope of the report
*11.1.1 ????Market definition
*11.1.3 ????Notes and caveats
**11.2 Currency conversion rates for US$
*Exhibit 89: ?Currency conversion rates for US$?
**11.3 Research Methodology
*Exhibit 90: ?Research Methodology
*Exhibit 91: ??Validation techniques employed for market sizing?
*Exhibit 92: ??Information sources
**11.4 List of abbreviations
*Exhibit 93: List of abbreviations
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.
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