Commercial Aircraft Aftermarket Parts Market to Grow with a CAGR of 5.65% through 2030
The growing demand for air travel,
increasing aircraft fleet size, and advancements in maintenance, repair, and
overhaul (MRO) technologies are the factors driving the market in the forecast
period 2026-2030.
According to
TechSci Research report, “Commercial Aircraft Aftermarket Parts Market -
Global Industry Size, Share, Trends, Competition, Forecast &
Opportunities, 2030F” the Global Commercial Aircraft Aftermarket Parts
Market was valued at USD 42.11 Billion in 2024 and is expected to reach USD
58.56 Billion by 2030 with a CAGR of 5.65% during the forecast period. The commercial aircraft aftermarket parts market is
poised for significant growth as a result of various industry shifts and
evolving demands. A key driver of this expansion is the rapid innovation in
aircraft design, which has led to the increased use of advanced composite
materials and hybrid systems in modern aircraft. These new materials require
specialized aftermarket parts that differ from traditional metal-based
components, thus creating new market opportunities. As airlines seek to improve
fleet performance and minimize operating costs, there is a growing reliance on
aftermarket suppliers that can provide high-quality, cost-efficient solutions.
Another driving
force behind the market's growth is the increasing emphasis on optimizing
aircraft efficiency. Airlines are focused on maximizing fuel savings and
reducing carbon emissions, which has led to the development of more
fuel-efficient engines and systems. This has resulted in a rising demand for
aftermarket parts that support these goals, such as advanced airframe
components, aerodynamically optimized parts, and enhanced propulsion systems.
Additionally, the shift towards electric and hybrid-electric propulsion
technologies is creating a new wave of aftermarket opportunities, as parts
compatible with these advanced systems need to be developed and maintained.
The
proliferation of air cargo transport is also contributing to the demand for
aftermarket parts. As global trade and e-commerce continue to grow, the number
of freighter aircraft in operation is increasing. This trend is driving demand
for specific aftermarket components designed for cargo operations, such as
robust landing gear systems and specialized storage systems. With the growing
importance of air cargo as a revenue stream for airlines, there is a notable
increase in the need for reliable aftermarket solutions that ensure operational
efficiency and aircraft uptime.
Furthermore, the
rise of outsourcing by airlines and fleet operators is having a significant
impact on the market. More airlines are choosing to partner with third-party
MRO providers to handle maintenance and parts replacement, rather than managing
these processes in-house. This shift is creating opportunities for aftermarket
parts suppliers to build strong relationships with MRO providers and enhance
their market reach. The expansion of regional MRO hubs, especially in emerging
markets, is opening up new opportunities for suppliers to provide localized
parts solutions that cater to specific regional needs.
Despite the
market's growth potential, challenges persist, including the rising complexity
of global regulatory requirements and the increasing demand for parts that meet
specific environmental standards. However, the shift towards more digitalized
operations, including the integration of AI, IoT, and blockchain technologies,
is expected to address these challenges by streamlining inventory management,
enhancing tracking capabilities, and enabling faster response times to market
demands. These innovations provide a pathway for suppliers to navigate the
market's evolving landscape effectively, ensuring continued growth and
stability in the aftermarket parts sector.
Browse over xx market data Figures spread
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The Commercial Aircraft Aftermarket Parts Market is
segmented into aircraft type, component type, parts, and region.
Based on
aircraft type, the narrow-body segment is expected to be the fastest-growing in
2024 within the global commercial aircraft aftermarket parts market.
Narrow-body aircraft, often used for short- and medium-haul flights, dominate
the commercial aviation sector due to their efficiency, affordability, and
versatility. The increasing demand for air travel, especially in the
post-pandemic era, is driving the need for maintenance, repair, and overhaul
(MRO) services for narrow-body aircraft. As airlines continue to expand their
fleets and extend the operational life of their existing aircraft, the demand
for aftermarket parts, such as engines, landing gears, and avionics, for
narrow-body planes is expected to rise sharply. Furthermore, the growing trend
of low-cost carriers, which primarily operate narrow-body aircraft, is fueling
this demand, as these airlines need to maintain their fleets efficiently while
keeping operational costs low.
Based on region,
in 2024, Asia Pacific is expected to be the fastest-growing region in the
commercial aircraft aftermarket parts market. The region is experiencing a
surge in air travel, driven by rising middle-class populations, increased
tourism, and expanding economies, particularly in countries such as China,
India, and Southeast Asian nations. The rapid growth of the aviation sector in
Asia Pacific is leading to a significant rise in the number of commercial
aircraft in operation, further driving the demand for aftermarket parts.
Airlines in this region are also increasingly focusing on fleet modernization,
which involves replacing older components with more advanced parts that meet
evolving safety, performance, and environmental standards. This has created a
robust market for both MRO services and the supply of high-quality aftermarket
components. Furthermore, Asia Pacific's growing importance as a hub for
international trade and travel is contributing to the rise in air cargo
operations, which also requires specialized aftermarket parts. As a result,
Asia Pacific remains a key market for the growth of the commercial aircraft
aftermarket parts sector in 2024.
Major companies operating in the global Commercial
Aircraft Aftermarket Parts Market are:
- Aventure International
Aviation Services
- Honeywell International Inc.
- RTX Corporation
- Parker-Hannifin Corporation
- General Electric Company
- Moog Inc.
- GKN Aerospace
- A J Walter Aviation Limited
- Bombardier Inc.
- The Boeing Company
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“The global
commercial aircraft aftermarket parts market is experiencing significant
growth, driven by the rising demand for air travel and the expanding fleet of
aircraft worldwide. As airlines focus on reducing operational downtime and
improving fleet efficiency, the need for reliable aftermarket parts becomes
more critical. Aircraft are becoming more technologically advanced, which
increases the demand for specialized components that meet the latest
performance and safety standards. While challenges such as supply chain
disruptions and the rising complexity of aircraft systems exist, the market’s
future is promising. As airlines modernize their fleets and expand routes, the
need for high-quality aftermarket parts will continue to rise, securing their
position as an essential part of the aviation industry“, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
"Commercial Aircraft Aftermarket Parts Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Aircraft Type (Narrow-Body, Wide-Body, Regional Jet), By Component Type (Airframe, Engine, Interior, Other Component), By Parts (MRO Parts, Rotable Replacement Parts), By Region & Competition, 2020-2030F”, has evaluated
the future growth potential of global Commercial Aircraft Aftermarket Parts
Market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers make sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global Commercial Aircraft
Aftermarket Parts.
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