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

Market Overview

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 experiencing robust growth driven by several factors, including the rising demand for air travel and an expanding global fleet of aircraft. As more airlines and aviation companies look to meet the increasing passenger demand, maintaining and servicing aircraft becomes crucial. This growth in demand for air travel contributes to the need for regular maintenance and replacement of critical parts, such as engines, landing gears, and avionics, further fueling market expansion. As aircraft fleets age, there is also a growing need for replacement parts, ensuring safety and operational efficiency.

The trend towards more advanced technologies in aircraft components is transforming the aftermarket parts market. With increasing technological advancements, parts are becoming more durable, efficient, and environmentally friendly. The development of lightweight materials and improved fuel efficiency technologies has led to an increased demand for specialized aftermarket parts, ensuring longer service lives for critical components. Moreover, the industry is witnessing a rise in the use of digital technologies for parts management, helping streamline inventory management and improve part sourcing. Airlines are looking for cost-effective and time-efficient ways to maintain aircraft, which has led to the growing adoption of predictive maintenance technologies.

However, the aftermarket parts sector faces challenges, particularly in the areas of supply chain disruptions and the complexity of managing parts inventories. The high demand for specialized components, coupled with increasing customization and the rise of new technologies, can sometimes lead to delays in sourcing and delivering parts. Additionally, the growing focus on sustainability is pushing for the development of eco-friendly components, presenting a challenge for manufacturers to meet both environmental and regulatory requirements. Despite these hurdles, opportunities abound for companies that innovate and adapt to the changing needs of the market.

Market Drivers

 Rising Demand for Air Travel

The global aviation industry continues to witness a steady increase in air travel, especially in emerging markets. This surge in passenger demand directly contributes to the need for more flights and operational aircraft, thereby creating higher demand for aftermarket parts. As airlines look to meet this growing passenger base, the need for high-quality and reliable parts for both maintenance and replacement becomes increasingly important. The frequency of maintenance checks, which is linked to the usage of aircraft, increases as airlines try to ensure safe, uninterrupted service to their passengers. Additionally, airlines must maintain or upgrade their existing fleets to cater to changing consumer expectations, requiring them to regularly purchase parts from the aftermarket sector. The rising air traffic leads to a greater need for serviceable parts and timely repairs to keep aircraft operational and to avoid costly delays. For instance, global passenger traffic for 2023 reached 8.7 billion, closely aligning with ACI World’s February 2024 forecast at 99.99% accuracy. This milestone contrasts with pre-pandemic projections, which anticipated 10.5 billion passengers by 2024. Current estimates for 2024 suggest a total of 9.5 billion passengers, marking a 10% year-on-year (YoY) growth from 2023 and reaching 104% of the 2019 level. By mid-2024, year-to-date traffic is expected to show an 11% YoY increase, with international markets leading the recovery, showing a 17% YoY rise compared to 6% YoY growth in domestic travel. International passenger traffic is projected to hit 4.1 billion by the end of 2024, accounting for 43% of the total, while domestic traffic will reach 5.4 billion, or 57%.

Fleet Expansion and Aging Aircraft

Newly developed aircraft technologies have significantly extended the life cycles of older models. However, many of these older aircraft require more frequent maintenance and part replacement to stay in compliance with safety standards. The growing fleet size, especially in markets with high growth in air travel, amplifies this need. In the commercial aircraft industry, fleet management decisions are influenced by various factors, including operational costs and aging parts, driving the demand for aftermarket parts. Airlines are more inclined to replace older parts with modern solutions that are more cost-effective and durable. As a result, parts manufacturers are investing heavily in developing components that can support both new and aging aircraft models, addressing the challenges posed by a diverse and expanding fleet.  For instance, in 2024, Airbus forecasts the delivery of over 42,000 new passenger aircraft by 2043, with significant demand for 15,000 single-aisle aircraft due to the growth in global air traffic. Additionally, the forecast highlights that the market will need to address environmental concerns, with the introduction of sustainable aviation technologies aimed at reducing emissions. This forecast reflects the continued expansion of the global airline industry, alongside advancements in fuel-efficient and environmentally friendly aircraft.

Increased Aircraft Maintenance, Repair, and Overhaul (MRO) Activities

As aircraft systems become more sophisticated, the need for frequent and specialized maintenance becomes essential. Regular MRO activities ensure that aircraft perform at optimal levels and adhere to industry safety standards. In an environment of heightened passenger expectations and regulatory pressures, airlines are investing heavily in keeping their aircraft up-to-date and compliant. This has increased the demand for high-quality aftermarket parts for MRO purposes. The growth of MRO activities, including structural repairs, engine overhauls, and replacement of critical components such as landing gear and hydraulics, directly influences the aftermarket parts market. Many airlines now use predictive maintenance models, using advanced analytics to identify potential failures before they occur, which increases the demand for replacement parts before a failure is even noticed.

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Key Market Challenges

Supply Chain Disruptions

The aftermarket parts market faces significant challenges with supply chain disruptions, as it relies on complex, global networks to deliver parts. These disruptions can arise from various factors, including geopolitical instability, trade wars, and natural disasters. Such disruptions delay the manufacturing and delivery of crucial parts needed for aircraft maintenance and repairs. This, in turn, results in longer downtime for airlines, higher maintenance costs, and operational inefficiencies. Manufacturers must build more resilient and adaptable supply chains to ensure timely deliveries and minimize the impact of disruptions. Additionally, the increasing complexity of aircraft and their components means that suppliers must source high-quality, specialized parts, which are sometimes more difficult to obtain, further exacerbating supply chain issues.

Regulatory Compliance

Navigating the complex regulatory environment is a significant challenge in the aftermarket parts market. The aviation industry is subject to strict safety regulations set by bodies such as the FAA (Federal Aviation Administration) and EASA (European Union Aviation Safety Agency). Aftermarket parts manufacturers must ensure their products meet these stringent requirements to gain approval for use in commercial aircraft. Compliance with safety, environmental, and quality standards is mandatory and requires a robust certification process, which can be time-consuming and costly. The complexity of these regulations, combined with the need to maintain transparency and traceability throughout the parts lifecycle, poses a challenge for manufacturers, especially in cases where parts are produced in different countries with varying regulatory standards.

Counterfeit and Substandard Parts

Counterfeit and substandard aftermarket parts present a significant threat to the aviation industry, particularly in terms of safety and reliability. The presence of low-quality parts in the supply chain jeopardizes aircraft performance, posing risks to both passengers and crew. Counterfeit parts can be harder to detect, and their use can have serious legal and financial implications for airlines. As a result, airlines and parts suppliers are investing in improved methods of verifying part authenticity, including advanced tracking and certification technologies. This challenge requires ongoing efforts to maintain the integrity of the aftermarket parts industry, ensuring that every part is of the highest possible quality and meets safety standards.

Key Market Trends

Adoption of Predictive Maintenance Technology

The adoption of predictive maintenance technology has transformed the way airlines maintain their fleets. Using advanced analytics, sensors, and AI-driven algorithms, airlines can predict when a part will fail and proactively replace it before it causes any disruptions. This trend is changing the aftermarket parts industry by reducing the need for reactive maintenance and enhancing operational efficiency. Predictive maintenance helps extend the life of components, reducing the frequency of part replacements and lowering overall maintenance costs. It also allows for more accurate forecasting of parts demand, leading to better inventory management and supply chain efficiency. This growing reliance on predictive maintenance is expected to create opportunities for parts suppliers to offer specialized solutions that align with these evolving maintenance strategies.

Sustainability in Aircraft Components

Sustainability is an increasingly important trend in the aviation industry, and it is having a profound impact on the aftermarket parts market. As airlines and manufacturers strive to reduce their carbon footprint, there is a growing demand for environmentally friendly components, including those that are recyclable or made from sustainable materials. Innovations in eco-friendly materials, such as biodegradable composites, are opening new avenues in the aftermarket parts industry. Additionally, fuel-efficient components and energy-saving systems are becoming more commonplace, reflecting the industry's commitment to reducing its environmental impact. The shift towards sustainability is likely to reshape the entire value chain, encouraging manufacturers to adopt greener practices and supply chains while meeting regulatory and consumer expectations for environmentally conscious solutions.

Outsourcing of Aftermarket Services

Outsourcing of aftermarket services is a growing trend in the aviation industry. Airlines and operators are increasingly relying on third-party suppliers to handle various aspects of aircraft maintenance, including the procurement of replacement parts, servicing, and repairs. This shift is driven by the desire to reduce costs and increase operational focus. By outsourcing aftermarket services, airlines can focus on their core operations while benefiting from specialized expertise and cost savings. This trend is creating new opportunities for parts suppliers to partner with MRO service providers, offering integrated solutions that combine part sourcing with comprehensive maintenance services. As the trend toward outsourcing continues, parts suppliers will need to adapt their business models to serve a more complex and varied customer base.

Segmental Insights

Parts Insights

In 2024, MRO parts was expected to dominate the global commercial aircraft aftermarket parts market. As the aviation industry continues to expand, airlines and maintenance, repair, and overhaul (MRO) service providers are focusing on keeping aircraft operational and in compliance with regulatory standards. MRO parts, which include components that require regular maintenance or servicing, such as engines, landing gears, and airframes, are crucial for ensuring the safe and efficient operation of aircraft. As commercial aircraft fleets grow in size and age, the demand for MRO parts will increase significantly. The need for frequent replacements and repairs driven by extended flight hours and rigorous safety checks will continue to support the growth of the MRO parts segment.

Furthermore, as airlines seek to improve operational efficiency, MRO services have become a priority to reduce maintenance downtime and increase aircraft availability. These parts are typically high-demand items, as they are integral to the functioning of various critical systems within an aircraft, including power generation, hydraulic systems, and control mechanisms. In addition to the rise in demand for MRO services, the increasing complexity of modern aircraft and their sophisticated technologies have amplified the need for high-quality MRO parts, contributing to the dominance of this segment.

The MRO parts market is also benefiting from the trend toward predictive maintenance technologies, which help airlines identify and replace parts before they fail. This approach enhances the efficiency of MRO operations and reduces unscheduled maintenance, further driving the demand for parts. In 2024, the MRO segment will continue to play a vital role in ensuring fleet readiness and minimizing operational disruptions, making it the largest contributor to the commercial aircraft aftermarket parts market. As the need for aircraft uptime increases, the importance of MRO parts will only continue to grow in the coming years.

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Region Insights

In 2024, North America was expected to maintain its position as the dominant region in the global commercial aircraft aftermarket parts market. The growth of the aerospace industry in the United States and Canada is a key factor driving this dominance. North America’s large and diverse fleet of commercial aircraft, including numerous aircraft operated by both legacy carriers and low-cost airlines, creates a substantial demand for aftermarket parts. With a significant number of aircraft in operation, there is an ongoing need for MRO services and parts replacement, making North America the leading market for aftermarket parts.

The region's advanced infrastructure and well-established MRO facilities play a crucial role in maintaining the dominance of North America in the aftermarket parts market. Leading MRO service providers in the region support a large volume of commercial aircraft, which requires a steady flow of replacement parts, ranging from engines and landing gear to avionics and electrical systems. The emphasis on safety and compliance with stringent regulatory standards in North America further drives the need for high-quality parts, as airlines must adhere to regular maintenance schedules and inspections.

Furthermore, the rising adoption of predictive maintenance and digital technologies in the region has significantly impacted the demand for aftermarket parts. North American airlines are increasingly utilizing advanced data analytics to predict when parts will need to be replaced, leading to greater demand for timely and efficient part sourcing. This shift towards proactive maintenance ensures a consistent need for MRO parts, thus boosting the aftermarket market.

The presence of numerous aircraft manufacturers and aerospace companies in North America, along with their extensive supply chain networks, enhances the availability and distribution of aftermarket parts in the region. With a combination of high demand, technological adoption, and established MRO capabilities, North America remains at the forefront of the global commercial aircraft aftermarket parts market, continuing to dominate in 2024.

Recent Developments

• In 2024, ITOCHU Corporation expanded its presence in the aircraft aftermarket sector by making a strategic investment in Killick, a prominent player in the aerospace industry. This move marks ITOCHU's entry into the growing global aircraft aftermarket parts market. The partnership is expected to strengthen Killick's capabilities in providing maintenance, repair, and overhaul (MRO) services, as well as aftermarket parts, enhancing its market position. ITOCHU's investment aligns with its strategy to diversify its portfolio and tap into the burgeoning aerospace sector, which is poised for significant growth driven by increasing demand for air travel and the need for efficient aircraft maintenance solutions.
• In 2024, Purdue University researchers unveiled advancements in morphing aircraft systems designed to enhance the performance of hypersonic vehicles. These innovative systems, capable of adapting to changing flight conditions, aim to improve aerodynamic efficiency and stability at extreme speeds. The development is a significant step toward optimizing hypersonic flight, addressing challenges related to high-velocity air travel. By integrating adaptable components into aircraft, this technology promises to revolutionize the aerospace sector, boosting performance, reducing fuel consumption, and increasing safety in next-generation hypersonic vehicles.

•       In 2024, Hindustan Aeronautics Limited (HAL) and Safran Aircraft Engines signed a Memorandum of Understanding (MoU) to collaborate on the manufacturing of commercial engine parts. This partnership aims to enhance India’s aerospace capabilities by localizing the production of key engine components, strengthening the country’s position in the global aerospace supply chain. The agreement marks a significant step toward reducing dependence on foreign suppliers and fostering technological advancements in India’s defense and aviation sectors. The collaboration is expected to boost economic growth and create new opportunities for innovation and manufacturing excellence in the Indian aerospace industry.
•      In December 2024, Adani Defence acquired aircraft maintenance firm Air Works for approximately USD 4.8 million, marking a strategic move to strengthen its presence in the MRO (maintenance, repair, and overhaul) sector. This acquisition allows Adani Defence to expand its capabilities in servicing and maintaining commercial and military aircraft, enhancing its position in India's growing aerospace market. The deal is expected to bolster Adani Defence’s aerospace offerings, catering to the increasing demand for high-quality MRO services in the region. This move aligns with the company's broader strategy to diversify and invest in critical sectors supporting India's defense and aviation industries.

Key Market Players

• 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

Report Scope:

In this report, the Global Commercial Aircraft Aftermarket Parts market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Commercial Aircraft Aftermarket Parts Market, By Aircraft Type:

o   Narrow-Body

o   Wide-Body

o   Regional Jet

·         Commercial Aircraft Aftermarket Parts Market, By Component Type:

o   Airframe

o   Engine

o   Interior

o   Other Component

·         Commercial Aircraft Aftermarket Parts Market, By Parts:

o   MRO Parts

o   Rotable Replacement Parts

·         Commercial Aircraft Aftermarket Parts Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  France

§  Germany

§  Spain

§  Italy

§  United Kingdom

o   Asia-Pacific

§  China

§  Japan

§  India

§  Vietnam

§  South Korea

§  Thailand

§  Australia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

o   South America

§  Brazil

§  Argentina

Competitive Landscape

Company Profiles: Detailed analysis of the major Global Commercial Aircraft Aftermarket Parts Market companies.

Available Customizations:

Global Commercial Aircraft Aftermarket Parts Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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